The Number of Older Student Loan Borrowers Is Rising

Re:The Number of Older Student Loan Borrowers Is Rising by Meegul on Thursday January 12, 2017 @11:38AM (#13383655)

My school, Purdue University, has been making a big push towards IBR. The biggest issue with it I can see, is that, as far as I can tell, there's no cap on the money collected. That is to say, if they take 15% of your income, and you end up making lots of money, they will continue collecting their share past the actual cost of college. It honestly makes me feel like they see me as an indentured servant, not a student.

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Re:The Number of Older Student Loan Borrowers Is Rising by whorleater on Thursday January 12, 2017 @11:53AM (#13383831)

On the other hand, if the cost of a college is "flexible" as in a % of your income, doesn't it just end up in a situation in which higher-paid graduates subsidize the cost of college for lower-paid graduates?

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Re:The Number of Older Student Loan Borrowers Is Rising by Meegul on Thursday January 12, 2017 @12:12PM (#13384006)

I believe that's the entire idea of it. That and then the college could selectively decide how many majors of a certain type they need, financially speaking. A college will then be punished financially for pushing out tons of gender studies grads rather than engineers.

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Re:The Number of Older Student Loan Borrowers Is Rising by mywittyname on Thursday January 12, 2017 @03:41PM (#13385913)

Or water down their engineering program in order to push out more graduates.

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Re:The Number of Older Student Loan Borrowers Is Rising by thmsths on Thursday January 12, 2017 @09:05PM (#13387868)

But since education is a market this would lower the reputation of the college thus attracting less candidates and if they lower the requirements too much they may even loose their accreditations.

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Re:The Number of Older Student Loan Borrowers Is Rising by pricechild on Thursday January 12, 2017 @11:50AM (#13383789)

Surely this can't be true?

It isn't because the minimum repayments are so low they never come close to the large interested accrued?

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Re:The Number of Older Student Loan Borrowers Is Rising by Meegul on Thursday January 12, 2017 @12:10PM (#13383995)

Here's some more reading on it: https://www.nytimes.com/2016/04/09/business/dealbook/getting...

Mitch Daniels, the president of Purdue, has been pushing for this as a sort of solution to student loans, but it just ends up with the higher-income students subsidizing the education of the lower-income students, where 'income' refers to post-graduation job income.

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Re:The Number of Older Student Loan Borrowers Is Rising by dragonwriter on Thursday January 12, 2017 @05:01PM (#13386542)

> Mitch Daniels, the president of Purdue, has been pushing for this as a sort of solution to student loans, but it just ends up with the higher-income students subsidizing the education of the lower-income students, where 'income' refers to post-graduation job income.

You know what else does that? Having government guaranteed loans in the first place.

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Re:The Number of Older Student Loan Borrowers Is Rising by pmiller2 on Thursday January 12, 2017 @12:59PM (#13384492)

You are free to choose a level repayment plan if it would be a lower monthly amount than IBR. I do exactly that.

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