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| Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
01-29-2010, 10:23 AM
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#1
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Also known as OAK
Join Date: Apr 2003
Location: Westlery, RI
Posts: 10,408
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My guess, is if you sum 10% of the ave graduates income over 20 years, it is pretty close to the loan amount...
Make 50K/yr - > 5k/yr = 100,000
Make 100k/yr -> 10k/yr = 200,000
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Bryan
Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&
"For once I agree with Spence. UGH. I just hope I don't get the urge to go start buying armani suits to wear in my shop"
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01-29-2010, 11:06 AM
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#2
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Registered User
Join Date: May 2003
Location: Easton, MA
Posts: 5,737
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Quote:
Originally Posted by RIROCKHOUND
My guess, is if you sum 10% of the ave graduates income over 20 years, it is pretty close to the loan amount...
Make 50K/yr - > 5k/yr = 100,000
Make 100k/yr -> 10k/yr = 200,000
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I was thinking along the same lines, but then realized that there will be many students who graduate and make significantly less than that. Also, the rate of tuition will most likely continue to increase at a greater rate than entry level salaries. What's the problem with having students pay off their entire loan? My wife worked during college and saved up enough to pay off her entire tuition from Emerson (which was pretty expensive at the time) within a year of graduating. I don't see there being much motivation for paying off loans quickly if they know they won't have to pay the remaining balance after 20 years. |
Conservatism is not about leaving people behind. Conservatism is about empowering people to catch up, to give them tools at their disposal that make it possible for them to access all the hope, all the promise, all the opportunity that America offers. - Marco Rubio
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01-29-2010, 02:55 PM
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#3
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by RIROCKHOUND
My guess, is if you sum 10% of the ave graduates income over 20 years, it is pretty close to the loan amount...
Make 50K/yr - > 5k/yr = 100,000
Make 100k/yr -> 10k/yr = 200,000
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Lets say you go to school for 4 years ( alot of kids go more if you want to make 75K plus)and take out loans of 160K then get a job paying 75k. 10% would be 7500 times 20 years is 125k. So now the originating bank not only does not get any interest but also looses 35k in the deal or is the government going to magically come up with the difference and the interest so the banks can continue to find school lending smart business practice?? |
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01-29-2010, 05:17 PM
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#4
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Registered User
Join Date: Dec 2004
Location: North Fork
Posts: 2,260
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Quote:
Originally Posted by buckman
Lets say you go to school for 4 years ( alot of kids go more if you want to make 75K plus)and take out loans of 160K then get a job paying 75k. 10% would be 7500 times 20 years is 125k. So now the originating bank not only does not get any interest but also looses 35k in the deal or is the government going to magically come up with the difference and the interest so the banks can continue to find school lending smart business practice??
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You forgot that it would not just be interest being paid back on the loan over the years.I have two in college now and another going next year  |
Originally Posted by Flaptail
"Throw plugs like we do that will cause them to suffer humility. Pogies make any fisherman look good when bass are around. Bait is easy."
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01-29-2010, 05:30 PM
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#5
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by eastendlu
You forgot that it would not just be interest being paid back on the loan over the years.I have two in college now and another going next year |
I have one in her 3rd year and one going next year. I'm attempting to pay as they go ....so far so good. Next year will get twice as hard  |
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01-29-2010, 06:34 PM
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#6
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Super Moderator
Join Date: Sep 2003
Location: Georgetown MA
Posts: 18,205
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Quote:
Originally Posted by buckman
Lets say you go to school for 4 years ( alot of kids go more if you want to make 75K plus)and take out loans of 160K then get a job paying 75k. 10% would be 7500 times 20 years is 125k.
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A College Ed-u-ma-ca-shun might help w/ math skills......you need to re-do the math on that 1  |
"If you're arguing with an idiot, make sure he isn't doing the same thing."
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01-29-2010, 09:36 PM
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#7
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Registered User
Join Date: Sep 2006
Location: Mansfield
Posts: 4,834
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Quote:
Originally Posted by The Dad Fisherman
A College Ed-u-ma-ca-shun might help w/ math skills......you need to re-do the math on that 1 |
Thanks Kevin,
Your right, I'm wrong.... your smart, I'm stupid.... Your an Eagle scout, I'm just a cub scout...
I guess that part of his speach was smoke and mirrors too |
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