Truck Yourself, This is the NEW Politics Thread

by **Houshphandzadeh** » Thu Jan 28, 2010 15:12:40

Yeah, just a few years ago it was easy to consolidate around 3-4%. My undergrad loans are consolidated. But now it's pretty difficult and most people are stuck at the Stafford rate of 6.8%.

by **Werthless** » Thu Jan 28, 2010 15:17:37

I lucked out. I have loans (both consolidated and not) between 2.75 and 3.5%. I'm just paying them off slowly and taking the interest deduction every April.

by **cshort** » Thu Jan 28, 2010 15:22:50

jerseyhoya wrote:I don't know what my rate is but I think it is pretty low. I consolidated them on June 30, 2006, while I was in the middle of a case race with my roommates. I was starting off 4th of July weekend with a bang, then my mom called and reminded me that I had a letter sent to our house in NJ that it was the last day for me to consolidate the loans at a good rate. So on my way to being really inebriated I did some googling and figured out how to consolidate my loans in a hurry so I wouldn't fall too far behind on the beers.

It's a wonder why I live at home with all the care I put into my finances.

They changed the rules a few years ago. Loans prior to 2006 were variable and are currently running ~2.5%. Unsubsidized loans after 2006 are at 6.8%. PLUS loans are at 8.5%. I have credit card rates lower than that. :evil:

by **dajafi** » Thu Jan 28, 2010 15:23:06

The year that I made too much overall to claim the student loan interest deduction was a big mixed-emotions milestone.

by **Trent Steele** » Thu Jan 28, 2010 15:51:28

Between my wife's loans and mine, I paid off $939 a month for 10 years. That was fun.

by **Woody** » Thu Jan 28, 2010 15:54:31

What's the monthly payment on like 40 grand at 6.8% for 10 years? And how big of a raise do i need to justify this debt? Venn diagrams or a pivot table would be appreciated. thx

by **Houshphandzadeh** » Thu Jan 28, 2010 15:56:11

I've pretty much already made peace that going to grad school for an MLIS was the biggest mistake of my life. Though sometimes I still like to pretend I was taken in some sort of ponzi scheme and that's why I'm fucked

/emo

by **jeff2sf** » Thu Jan 28, 2010 15:59:25

Woody wrote:What's the monthly payment on like 40 grand at 6.8% for 10 years?

If they haven't taught you how to calculate that in Excel you need to get a refund.

by **CalvinBall** » Thu Jan 28, 2010 15:59:44

guys, take it to the student loan thread already.

by **Trent Steele** » Thu Jan 28, 2010 15:59:55

Woody wrote:What's the monthly payment on like 40 grand at 6.8% for 10 years? And how big of a raise do i need to justify this debt? Venn diagrams or a pivot table would be appreciated. thx

460.32

by **Woody** » Thu Jan 28, 2010 16:00:31

jeff2sf wrote:
Woody wrote:What's the monthly payment on like 40 grand at 6.8% for 10 years?

If they haven't taught you how to calculate that in Excel you need to get a refund.

i just wanted to make trent steele my bitch

by **jerseyhoya** » Thu Jan 28, 2010 16:01:04

Pulling strings Woody...Pulling strings....

by **ReadingPhilly** » Thu Jan 28, 2010 16:03:01

student loans were tops on my hatred list for a while. the interest kicks you in the nuts and then i had to deal with utter incompetence at both the companies that held my loan. aes sold my loan to citi a few months ago and what a cluster fuck that turned into. i think my loans were smaller than others here and living at home up to this point helped me save up enough to pay them off completely once i got fed up with their bs. i think i might just pay as i go for grad school.

by **jeff2sf** » Thu Jan 28, 2010 16:06:52

ReadingPhilly wrote:student loans were tops on my hatred for a while. the interest kicks you in the nuts and then i had to deal with utter incompetence at both the companies that held my loan. aes sold my loan to citi a few months ago and what a cluster $#@! that turned into. i think my loans were smaller than others here and living at home up to this point helped me save up enough to pay them off completely once i got fed up with their bs. i think i might just pay as i go for grad school.

I'm not saying my way is the best way, but I'm truly surprised how many people adopt your attitude towards this. I owe 375 dollars a month and will pay that until just before collecting social security, but I don't really sweat it nor feel the need to pay more. It's "good debt" at a fixed rate of 5.75% and if school provides the benefits it should and inflation is just normal for the next 30 years, that 375 is going to be what I pay a kid to mow my lawn each month.

by **drsmooth** » Thu Jan 28, 2010 16:07:40

it's only money

by **CalvinBall** » Thu Jan 28, 2010 16:08:58

i too love paying them. it really brightens my day. typically one of the highlights of my month.

by **TenuredVulture** » Thu Jan 28, 2010 16:19:23

By the way, banks do make money off student loans--that's why they are lobbying hard against expanding Direct Student Loan program, which would cut them out of a very lucrative business. Currently the federal government offers subsidies to private lenders to provide student loans.

It's the threat to end the subsidy that caused student lender stock prices to plummet.

by **jerseyhoya** » Thu Jan 28, 2010 16:40:21

The Hoya message board is burnin' up over rumors that the 44th President of the United States will be taking in Duke Georgetown at the Verizon Center

Since we don't talk about politics in here any more I thought I would share

I wonder if he'll root for the hometown team or if Reggie Love will have him rooting for Duke. Probably the latter. I hope the crowd gives him shit for it.

by **TenuredVulture** » Thu Jan 28, 2010 16:43:04

jerseyhoya wrote:The Hoya message board is burnin' up over rumors that the 44th President of the United States will be taking in Duke Georgetown at the Verizon Center

Since we don't talk about politics in here any more I thought I would share

I wonder if he'll root for the hometown team or if Reggie Love will have him rooting for Duke. Probably the latter. I hope the crowd gives him $#@! for it.

I'm guessing he'll remain pretty neutral. It's an interesting issue, though Presidents and college sports rooting. I know Ford was obviously a huge Michigan fan. The Bushes of course didn't follow real college sports, they were Yale fans.

I wonder if Clinton followed G'Town B-ball with any real passion? I don't think he was into sports much at all.

by **dajafi** » Thu Jan 28, 2010 16:47:50

Clinton? I remember he was an Arkansas Razorbacks fan. Seems you of all people should know that...

As for Obama, I know he's a big hoops guy and sports fan in general, but I think his rooting interests are limited to the Chicago teams. (Not the Cubs.)

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