very wrong...
Ithildriel said:
I have to disagree. The taxpayers should not have to subsidize someones education just because their parents are jack@$$es.
It's for students whose parents can't afford to send them.
I was in the same situation as you were, but I feel that parents who can afford to help their children get a higher education should, and the rest of us should not have to cover it for them. There would be absolutely no motivation for financially stable parents to help out their kids if this was the case.
Taxpayers don't pay for student's financial aid! That is totally incorrect.
Financial aid is in the form of student
loans, Stafford - Subsidized, Stafford - Unsub, PLUS, SLSS. Tax payers DO NOT pay for these, these are all
LOANS. Grants and schlorships are awarded on differing bases and don't have to be paid back
by anyone, and these are often quite nominal. All of these are governed by the Department of Education and its strict guidelines.
On Stafford - Subsidized loans, the student is ALWAYS responsible for the principal, but any interest is paid by the government,
only while the loan is deferred. The government's interest rate is variable from year to year (it changes on July 1st of each year for almost ALL student loans, there are exceptions but not for the Stafford loans) and has typically been around 2-3%. So the interest on a Subsidized Stafford loan of $2625.00 would be approximately $78.00. This is the amount ($78.00) "the taxpayers" as you say, would pay for. The taxpayers
are not ever responsible for the principal nor the interest that accrues
after repayment begins.
At no time does a student or parent taking out student loans ever get out of re-paying them. IF they default on them, (270 days after the loans went into repayment or sometimes sooner for some loans, ie PLUS loans) a default process begins and the claim is sent to the guarantor of the state.
Even if this default claim process takes place,
the student is NEVER released from their student loan obligation/s.
Just like IRS judgements, it will NOT come off their credit ever. Student loan obligations CANNOT be relieved by bankruptcy. They are there for the student to repay until they are repaid.
Again, "taxpayers" do not pay for student loans.
Once the loan is in repayment (6 months + one day after student stops going to class for a minimum numbers of class hours) the interest becomes the responsibility of the student, as well as the principal. This is the same for any student regardless of state (or country) the student lives in.
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Just because parents are well off doesn't mean they will pay for their child's education. Mine wouldn't.
But that doesn't mean they should have been ordered to pay for it.
If that was true, then all parents should be forced to put aside part of their income for their child/ren to go to college... maybe it could be automatically deducted from their checks?!?!? NO!!!
And a parent isn't a "jack@$$" just because when their child/ren become adults they want them to start being responsible for themselves. Are you implying that poor parents are automatically saints because they didn't work to provide their child/ren a better life and now society owes them instead?
Student loans are available to just about everyone now days. Its that way so that people from ANY BACKGROUND, RICH OR POOR are able to pursue continuing education, not to put some undue burden on "the taxpayers."