Reply to Does anyone else owe a TON in student loans?

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[quote=Anonymous]Sorry to break it to you, but many public and not-so-prestigious schools would cost over $100K for undergrad and law school.  The entire university system has increased prices at an unprecedented rate.  How are low-income student going to pay for school if they cannot take out loans?  If their is a low loan limit, how would any of them become doctors or lawyers?  Democracy and capitalism are about fair opportunity.  If the door is shut to upward mobility due to cost and lack of access to loans, then we become a class based society.

The IBR program is only for public loans.  This is capped at $18,500/year for graduate work.  The cap is much lower for undergraduate education.  Many of the high student loan borrowers have to use private loans.  These are not eligible for loan forbearance with the federal government.

This hate for federal workers has got to end.  The loan forbearance at 10 years incentive is a form of deferred compensation that rewards employees who stay employed with the government for 10 years.  FWI - Your children would need to have low paying federal jobs to qualify.  Maybe the feds should pay salaries equivalent to the private sector and end pensions and student loan forbearance.[/quote]

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