Speaking of student debt

iVillage Member
Registered: 11-28-1999
Speaking of student debt
14
Thu, 08-04-2011 - 11:33am

I'm a lawyer & my office does bankruptcy.

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Avatar for suzyk2118
iVillage Member
Registered: 07-30-1997
Thu, 08-04-2011 - 12:29pm
That would be a sad state if people really thought any student could just rack up all the college debt, claim bankruptcy and be done with it all....
iVillage Member
Registered: 10-25-2006
Thu, 08-04-2011 - 1:17pm

$400,000? Wow!

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

Avatar for sabrtooth
iVillage Member
Registered: 12-03-1999
Thu, 08-04-2011 - 2:26pm

Music, you are looking at this from the viewpoint of a rational, HONEST person.

iVillage Member
Registered: 09-19-2006
Thu, 08-04-2011 - 2:55pm
This is an interesting conversation because I am wondering if student loans are going to be the next "mortgage crisis". We have a good income, but still the logical thing was to encourage my son to go to a state school. It is still pretty expensive, but nothing like the cost of private school. Same thing with our mortgage. The loan officer kept trying to convince us to buy a more expensive home but we stuck to what we wanted. I feel badly for people who are underwater or have huge student loans, but I also think that some of them are responsible for their own situations. I know that with the mortgages there are many people that were just very unlucky or who suffered from health problems that required them to tap the home's equity, but many just bought too much and put too little down. Add to that that realtors kept unreasonably upping the price as did college administrators all because the loans were easy to get and you have got a huge mess that I fear will fall on the shoulders of those who were prudent with their money.

Just a rant.
iVillage Member
Registered: 11-28-1999
Thu, 08-04-2011 - 3:49pm

It couldn't possibly have been for undergrad only because I looked up this U's tuition and it's "only" $50,000/yr, including room & board.

iVillage Member
Registered: 11-28-1999
Thu, 08-04-2011 - 3:56pm

I work with a lawyer who owes over $100,000 in school loans and she says that she really regrets now going to the school that she did & taking out these huge loans because she doesn't even have a full time job.

iVillage Member
Registered: 10-25-2006
Thu, 08-04-2011 - 5:31pm

<>

I never drew that parallel in my mind, but I think you're right.

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

Avatar for sabrtooth
iVillage Member
Registered: 12-03-1999
Thu, 08-04-2011 - 7:07pm

Most lenders that require school certification (approval) will cap the annual loan amount at Cost-of-Attendance less aid received (COA-Aid).

iVillage Member
Registered: 09-19-2006
Thu, 08-04-2011 - 8:11pm
CSM provided us with a COA quite a while ago. It came along with the financial aid information. Is that unique? I thought every school would send that out.

I still have not received a bill and ds moves in in 2 weeks. I called a while ago to ask about it and they said that the bill isn't due until "census day" (must be a CSM term). When I looked on the calendar census day isn't until the beginning of Sept. Does that seem odd? It sure does to me. I plan to pay the bill when ever I receive it because I can't believe that they actually go to school for a couple weeks before they pay.

Robin

Robin
Avatar for suzyk2118
iVillage Member
Registered: 07-30-1997
Fri, 08-05-2011 - 10:17am
Our bill is online way before we get a paper copy...it was available as of July 7 for Aug 29 start. We got a paper bill about a week ago, FWIW.

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