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Ron Paul wants to eliminate federal student loans

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restoreone On May 23, 2020




, Ohio
#91New Post! Oct 24, 2011 @ 20:47:35
@someone_else Said

Whenever I think of apprenticeships, I think of things like painting, plumbing, electrical, welding, etc...

Those are jobs that don't require a whole lot of formal education, they mostly take doing the job while being supervised to learn how to do it. Some extra courses here and there could help, but they don't have to all be learned at once for you to effectively do your job.



For wielding they work during the day and go to school at night 2 nights a week. Four hours each class. They do this for up to 8 years. They must understand math and science IE. How Metals bond and work. A lot of other apprenticeships have you taking a 2 year degree in your field.
DorkySupergirl On November 02, 2017




, Canada
#92New Post! Oct 24, 2011 @ 21:22:39
@boobagins Said

That is just not true. No one is saying the only the rich can go to school. Just look up how many scholarships, programs, and resources are available to the poor and tell me that we're not trying to give the poor just as much if not more a more of an advantage when it comes to being able to go to school. If money is the only factor in determining why a poor kid doesn't go to college and further, why they don't do well, shoot me now. Everyone knows that's not true.


I didn't say anyone on here said only the rich could go to school or that I thought only the rich in America could go to school.

I am not American. I have never gone to university in America or applied for a student loan. I am not familiar so I wanted to ask questions, which I did, as to if federal loans no longer exist, can you get a state loan, can you go to the bank for a loan, if so, what would an 18 year old be able to do to get a loan, In short, asking and wondering what other possible options are out there.

I was simply wondering if federal loans do not exist anymore, what would the poor to the middle class do in order to pay for school. If they can't pay cash, if student loans do not exist etc, I was only wondering how they would pay for it. What are the options. That was all I wondering.
jonnythan On August 02, 2014
Bringer of rad mirth


Deleted



Here and there,
#93New Post! Oct 25, 2011 @ 02:49:08
I just read a comment on /. that makes a fine point.

These loans are guaranteed by the government. The university gets paid no matter what, and the government gives out the loans freely, no matter what. The universities themselves assume absolutely no risk whatsoever. Once they get the fed money, they don't care what happens to the student.

So the situation is one where the university is encouraged to bleed as much money as possible from the captive student. There are no penalties whatsoever for the university if the student can't repay the debt.
Leon On about 11 hours ago




San Diego, California
#94New Post! Oct 25, 2011 @ 02:53:23
Student debt is unbelievable. Makes me so glad my college days are long behind me. So something must happen. And Paul's idea is as good as any short of just flat out making college free like they do in some Western European countries.
DorkySupergirl On November 02, 2017




, Canada
#95New Post! Oct 25, 2011 @ 02:59:18
@jonnythan Said

I just read a comment on /. that makes a fine point.

These loans are guaranteed by the government. The university gets paid no matter what, and the government gives out the loans freely, no matter what. The universities themselves assume absolutely no risk whatsoever. Once they get the fed money, they don't care what happens to the student.

So the situation is one where the university is encouraged to bleed as much money as possible from the captive student. There are no penalties whatsoever for the university if the student can't repay the debt.


Would it hurt federal gov't later on if they do not give out loans?
What I mean is, they are allowing students to borrow x amount of dollars for x amount of interest. So they might be putting out a lot of money in the beginning but they make it back and then get interest made off of it.

So it would save federal gov't money now but hurt long term as no interest is being made?
Leon On about 11 hours ago




San Diego, California
#96New Post! Oct 25, 2011 @ 03:03:04
@DorkySupergirl Said

Would it hurt federal gov't later on if they do not give out loans?
What I mean is, they are allowing students to borrow x amount of dollars for x amount of interest. So they might be putting out a lot of money in the beginning but they make it back and then get interest made off of it.

So it would save federal gov't money now but hurt long term as no interest is being made?



Good point, but money is spent on running the programs, hiring people to do so, in addition to grants, etc. Either way, I think Ron Paul is more against it just for the principle that this is not something the federal government needs to be involved in and, therefore, shouldn't be.
jonnythan On August 02, 2014
Bringer of rad mirth


Deleted



Here and there,
#97New Post! Oct 25, 2011 @ 03:05:08
The government loses big money on these loans. There are subsidized loans, where the amount owed does not accrue interest for several years, and unsubsidized, where there is interest charged. IIRC the rate is low, though.

In other words, the government doesn't make money off these. If they did, it would be kinda messed up to be basically charging college students taxes.

The federal government really has no business doing any of this stuff in the first place.
DorkySupergirl On November 02, 2017




, Canada
#98New Post! Oct 25, 2011 @ 03:08:50
I see, thanks Leon and Jonnythan. Can you get a state loan for school? I did not need a student loan for my university but some of my friends did. Half the money is from the province and half from federal Canadian government.

And to ask again because I am not clear, you can still go to bank and get a private loan but its more interest but its easier to get so it does not matter you are 18, might not have credit etc?
jonnythan On August 02, 2014
Bringer of rad mirth


Deleted



Here and there,
#99New Post! Oct 25, 2011 @ 03:10:21
I don't believe any states offer any sort of loan program.

States do, however, run their own university systems and generally have rather inexpensive tuition. They also run 2-year community colleges which are cheaper still. The prices at community colleges are such that pretty much anyone with a job can afford to go.

And yes you can go to a bank but a bank is going to be pretty hesitant to give out such a loan. They do exist though.
Leon On about 11 hours ago




San Diego, California
#100New Post! Oct 25, 2011 @ 03:13:51
@DorkySupergirl Said

I see, thanks Leon and Jonnythan. Can you get a state loan for school? I did not need a student loan for my university but some of my friends did. Half the money is from the province and half from federal Canadian government.

And to ask again because I am not clear, you can still go to bank and get a private loan but its more interest but its easier to get so it does not matter you are 18, might not have credit etc?



I don't remember if our state, or any, gives out loans, as I think the Stafford, Perkins, Pell, etc are all federal programs. But it is easy for anybody to get a loan, whether or not it is a federal or a private, even with zero credit, as the credit is the degree that supposedly gives you a better paying job once you're out. What's more, you apply for all of it via a form filled out at a website, called FAFSA, making the whole process pretty easy.
DorkySupergirl On November 02, 2017




, Canada
#101New Post! Oct 25, 2011 @ 03:16:33
@jonnythan Said

I don't believe any states offer any sort of loan program.

States do, however, run their own university systems and generally have rather inexpensive tuition. They also run 2-year community colleges which are cheaper still. The prices at community colleges are such that pretty much anyone with a job can afford to go.

And yes you can go to a bank but a bank is going to be pretty hesitant to give out such a loan. They do exist though.


Now I am more confused. You are going to need a bag of patience for me tonight, its a non Wheetie day.

If there are no more federal loans and a bank is not really going to lend an 18 year old with no credit money for school, how does someone who is poor to lower middle class, afford to go to school?


I know some go on scholarships but what if you are smart enough for university but not smart enough to get a full scholarship? I know athletes here for hockey get a free ride as some would say but that is not common for average Joe.
jonnythan On August 02, 2014
Bringer of rad mirth


Deleted



Here and there,
#102New Post! Oct 25, 2011 @ 03:20:17
@DorkySupergirl Said
If there are no more federal loans and a bank is not really going to lend an 18 year old with no credit money for school, how does someone who is poor to lower middle class, afford to go to school?


Job, scholarships, private loans.

@DorkySupergirl Said
I know some go on scholarships but what if you are smart enough for university but not smart enough to get a full scholarship? I know athletes here for hockey get a free ride as some would say but that is not common for average Joe.


Go to a state school or community college. There's no need to go to a $35,000 a year private university when you can go to the state university for $6500 or a CC for $2500.
DorkySupergirl On November 02, 2017




, Canada
#103New Post! Oct 25, 2011 @ 03:29:31
@jonnythan Said

Job, scholarships, private loans.



Go to a state school or community college. There's no need to go to a $35,000 a year private university when you can go to the state university for $6500 or a CC for $2500.


But isn't that then kinda saying that only the rich can go to the fancy schools and the middle class to lower have to go to CC or a state school?

This is just example but what if I was accepted at Harvard to become doctor but say its private university but I have no money to pay, a bank won't give me a loan and even with a partial scholarship and a job, I can't afford it, why should I have to go to a CC and not be a doctor because I do not have a lot of money. Why should I not live my dream of Harvard just because its pricey and my parents can't pay for me.

Not everyone can get a private loan, not everyone can get full scholarship etc.
DiscordTiger On about 6 hours ago
The Queen of Random

Administrator




Emerald City, United States (g
#104New Post! Oct 25, 2011 @ 03:33:03
I think that hits on one of the fundamental differences about Ron Paul.
His political stance is that the government shouldn't be dealing with that, that people would find a way to put them selves through school, without the help. Or that the market (banks) would rise to fill the void the government was leaving by getting out of student loans.

I don't necessarily agree with him on that issue.
jonnythan On August 02, 2014
Bringer of rad mirth


Deleted



Here and there,
#105New Post! Oct 25, 2011 @ 03:35:43
@DorkySupergirl Said

But isn't that then kinda saying that only the rich can go to the fancy schools and the middle class to lower have to go to CC or a state school?


Not really, for a couple of reasons. First of all, it's still not the federal government's business to hand teenagers money to make sure they can go to expensive private universities.

Second of all, those $35,000 tuition rates are dramatically inflated, and the federal government is a significant reason for it. Instead of giving poor kids access to quality education, this loan program has led to tuition rates skyrocketing at many times inflation rates while the number of college graduates and the quality of college education has remained stagnant.

There's nothing wrong with state schools. You can get a world class education and become literally anything by going to a state school. I'm going to a state school now, after having gone to a very expensive top-tier private university, and the education I'm receiving is honestly equivalent. I plan on taking this state school degree and going to medical school with it.

@DorkySupergirl Said
This is just example but what if I was accepted at Harvard to become doctor but say its private university but I have no money to pay, a bank won't give me a loan and even with a partial scholarship and a job, I can't afford it, why should I have to go to a CC and not be a doctor because I do not have a lot of money. Why should I not live my dream of Harvard just because its pricey and my parents can't pay for me.

Not everyone can get a private loan, not everyone can get full scholarship etc.


You don't have some God-given right to go to Harvard. If you can't convince a bank, alumnus, or other benefactor to give or loan you the money to go to Harvard, then you don't go to Harvard. That's life.

I wanted a lot of things I couldn't afford at 18.

Oh, and I promise you that if Harvard had lots of its carefully selected applicants decline to go because they just couldn't find the money, Harvard would figure something out, such as organizing a bank or banks to give those private loans. Some schools already do this.
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