"Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.
The greatest thing in life is to keep your mind young." - Henry Ford

Monday, July 28, 2014

Student Loan Forgiveness

Here Comes The Student Loan Forgiveness: ".... Under the latest version of President Obama’s giveaway to former college students, people with student loans that meet certain income eligibility standards will only need to pay 10 percent of their discretionary income for a maximum of 20 years. Discretionary income is the amount you earn above the poverty line for your family size. If a borrower works for a government or in a job defined as public service, they only have to pay for 10 years. After that, the remaining balance is forgiven. In an extreme case, a person could pile up $100,000 in student loans going to an expensive school, graduate, and go to work for a non-profit advocacy group with 501(c)(3) status in New York City. Imagine that our graduate stays single and is paid $40,000. She will pay only about $187 per month which will not even cover the interest accruing on her loans...."

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