Student Loans and the election

[Mount_St_Mama]

Earlier today I posted the Quads move into VA Tech article, wondering how I would be able to afford it if I were them.

I came across this calculator from barackobama.com.What do you think of Obama's 'Pay as you earn' program vs Romney's 'shop around' program? Do you still have student loans? Would Obama's program work for you?

Quote:

Student loan reform: The facts

President Obama vs. Mitt Romney

President Obama’s “Pay As You Earn” program caps monthly federal student loan repayment at 10% of monthly discretionary income, meaning that a responsible student can choose the college they want to attend based on their career goals and not only the price of tuition. Families can know that as long as students make their payments on time, they won’t owe more than they can reasonably afford each month.

Mitt Romney and Paul Ryan would roll back this plan, suggesting students “shop around” if they want to go to college.

See how the President's plan is helping typical students afford college.

[virginiamama71]

 can someone receive a pell grant if working?

Quoting Mombare:

I guess I was lucky that I got pell grants for all but 1 semester of community college. My kids as long as they stay at home qualify for pell grants that will basically cover all of their undergraduate school. My being on disability qualifies them for additional help as well. So I guess it depends on the situations.
For those of you that are single, I greatly recommend going the community college route. This yr the full time Pell grant is $5500. And that is free money!!!

 

[Shortiekt]

I would love pay as you earn, but my loans were private instead of federal! My parents were considered 'wealthy,' too bad they weren't the ones in college! It shouldn't be based on 'family contribution' unless the family is going to school. **Shrugs*** I guess I'll keep paying my ridiculous amount for the next decade or more. I owe $35,000.