Posted on 08/27/2022 4:49:32 AM PDT by Macky Cracklins
After President Biden announced his student loan handout plan on Wednesday, August 24, 2022, many parents immediately wondered about the status of the college loans they took out in their own names on behalf of their children.
Many moms and dads took out Parent PLUS loans, the federal loans available to parents of undergraduate students to handle college expenses not covered by financial aid.
Currently, at least 3.4 million Parent PLUS borrowers owe at least $87 billion, according to the Brookings Institute.
(Excerpt) Read more at foxnews.com ...
Only if you are a RAT…
Oh my gosh. I wish we had a three year grace period on the mortgage with interest free. I’d be dumping money on the principle a lot. These young kids were given a gift. I’m sure most didn’t take advantage. The good news is giving them 10 grand won’t hurt the economy because most have been spending the money normally for the loan to buy junk.
Grand kids see their future
He’s using the money from the inflation reduction bill that was supposed to used to cut the deficit. That lasted about one minute.
Mine did. Moved home, bought a cheap car for cash and started pouring nearly everything she made on her loans.
She has made a significant dent but still has a long way to go. She wants to be done with them by age 32
She is getting married next month and her fiance also has loans. The wedding was also planned frugally and they are paying for it all. They would love to buy a house and start a family.
It will all be a tough row to hoe but they are hard working and have their priorities straight so any “bribe” that Biden might be able to get done will fall on deaf ears with these two
An armed one at that!
I feel really stupid for paying mine off. I won’t get 10,000 to compensate? This bailout makes less sense than slave reparations to people who were never slaves.
I tapped my retirement fund to pay off mine. (Figured the gains during Trump would eventually disappear so why not make them accomplish something?) I re-careered at age 50 all while putting three girls through college too.
Two of my girls paid their loans off and one still has a ways to go
Of course, our “stupid” started before we took out the loans. Hubs and I are the only couple in our original friend group who stayed married.
That plus owning two mortgages made us “too rich” to qualify for anything but loans where many of my friends’ kids got grants based on income of a single mom.
I said I should have divorced him on paper before the girls went to college
“Two of my girls paid their loans off and one still has a ways to go”
Hopefully their degrees are in something useful. It fascinates me what some people go to college for.
I actually respect people who go to college for degrees that will not get them rich but give them satisfaction and purpose. What I don’t have respect for are leeches and mooches.
Yep. Three solid responsible young women
Oldest studied Interior Architecture- was a custom flooring designer now a stay at home mom. Married to a self-made mortgage broker
Middle is a Registered Dietician (after graduation she needed to have a 1 year unpaid internship to sit for her exam. The internship program was another $10k plus living expenses) Now an Eating Disorder counselor. Boyfriend is a Captain in the Space Force
Daughter 3 studied Communication and Leadership and is a Corporate Trainer. Marrying an Architect next month
Admirable! My congratulations to all of you! :)
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