Giving a break to charities

Reader comment on: Obama on Student Loan Forgiveness

Submitted by TheCaptain (United States), Mar 30, 2011 20:31

That's like saying people won't work so they can be on welfare. Or that people will be homeless to take advantage of soup lines ...

Taking a 20,000 job for the forgiveness over a 50k position ? Any rational person would just pay back the debt and take the higher paying position. The forgiveness was bipartisan for a reason. In reality, it will only benefit doctors mostly, and some lawyers in non-profit.

If you make the national average for income $44,000 per year, after 10 years at 10% = $44,000 is what you would pay back. This is oversimplified, the actual program is more complex, and you would probably get a raise at some point in 10 years.

National average for student debt = $24,000. Far under the forgiveness threshold level.

And public service isn't always a life resigned to poverty, some mega-churches make big money as well as defense personnel (i'm in this category).

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Other reader comments on this item

Title	By	Date
student loans now. [57 words]	michael a osachuk	Oct 25, 2011 11:34
Logic and intelligence! [88 words]	edavidt	Aug 16, 2011 18:39
slavery [244 words]	Dj	Apr 2, 2011 23:38
⇒ Giving a break to charities [155 words]	TheCaptain	Mar 30, 2011 20:31
Normally I would agree, but... [437 words]	Student Loan Slave	Mar 29, 2011 20:21
Wait [10 words]	George	Mar 29, 2011 13:52

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