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School loans

How do you feel about the bill that Obama's trying to pass on school debt. I would really like it to be passed so I can be free of some of my school debt.

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Asked by Sillylins at 12:26 PM on Jun. 3, 2013 in Money & Work

Level 27 (31,211 Credits)
Answers (4)
  • what's this law you speak of? Links? I have school debt I would like to know more about it.

    Answer by LostSoul88 at 12:28 PM on Jun. 3, 2013

  • I think it's ridiculous. When you take out a loan you know exactly how much you're taking and the terms are plainly written out. The government shouldn't just eat it because someone shows good faith. Our government is in debt and these kind of things are the reason why!

    Answer by missanc at 1:59 PM on Jun. 3, 2013

  • I understand why the law is suggested, but millions and millions of us went to school, took out loans, and worked our butts off to pay them.

    Answer by Ballad at 2:30 PM on Jun. 3, 2013

  • I think that if you take a loan out for ANYTHING and that includes loans you need to pay the money back. Now if you're in a terrible accident and totally disabled thats another story. I think there are better ways to handle it. The interest rate should be locked in at the start of the loan instead of being able to change. I think that they need to give a running total to college students and what their monthly payment would be at that time every year so that they get a more accurate idea of what they will owe. A $5,000 loan per semester doesn't sound like a lot to a college student but if they hear part that in their 3rd year of college they now owe $25,000 and the payments are $400 per month that might sink in.

    Answer by baconbits at 3:24 PM on Jun. 3, 2013

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