Comments on: Doug Cohen: The reality of student debt http://www.gwhatchet.com/2012/05/21/doug-cohen-the-reality-of-student-debt/ Serving the George Washington University Community Fri, 17 May 2013 09:19:53 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: Lulaine http://www.gwhatchet.com/2012/05/21/doug-cohen-the-reality-of-student-debt/#comment-114507 Lulaine Tue, 07 Aug 2012 15:52:37 +0000 http://www.gwhatchet.com/?p=41849#comment-114507 Student loan debt is a tough thing, more people are being buried under them each other. Even when a student chooses a safe profession like law, the debt is killing them to the point that some students are suing law schools. Something should be done before more schools are sued. http://www.legalfunding.com/ Student loan debt is a tough thing, more people are being buried under them each other. Even when a student chooses a safe profession like law, the debt is killing them to the point that some students are suing law schools. Something should be done before more schools are sued.

http://www.legalfunding.com/

]]> By: GW parent http://www.gwhatchet.com/2012/05/21/doug-cohen-the-reality-of-student-debt/#comment-80266 GW parent Sat, 02 Jun 2012 19:36:23 +0000 http://www.gwhatchet.com/?p=41849#comment-80266 I don't think the low interest rates on Stafford and other federal student loans are what is causing students to take on too much debt. These loans are capped each year (at around $5,000 depending on what year the student's in). The problem is that families then have to take on other, private loans to cover the gap between the financial aid package and what the family can afford to pay (the EFC). Private loans don't have grace periods after graduation or if a student goes to graduate school, as federal loans do. For our family, only GW and one other private school offered financial aid that left a "small" gap, so GW was the best deal for us. (It costs only a bit more than the state school would have, with its grant.) Other private schools my son got into left a huge gap, about $30,000, between our EFC and the financial aid packages. Some of my son's friends went to schools where they're taking out loans totaling $35,000 a year, which is half their parents' yearly income. This is where the education should come in. I don’t think the low interest rates on Stafford and other federal student loans are what is causing students to take on too much debt. These loans are capped each year (at around $5,000 depending on what year the student’s in).

The problem is that families then have to take on other, private loans to cover the gap between the financial aid package and what the family can afford to pay (the EFC). Private loans don’t have grace periods after graduation or if a student goes to graduate school, as federal loans do.

For our family, only GW and one other private school offered financial aid that left a “small” gap, so GW was the best deal for us. (It costs only a bit more than the state school would have, with its grant.) Other private schools my son got into left a huge gap, about $30,000, between our EFC and the financial aid packages. Some of my son’s friends went to schools where they’re taking out loans totaling $35,000 a year, which is half their parents’ yearly income. This is where the education should come in.

]]> By: Russell http://www.gwhatchet.com/2012/05/21/doug-cohen-the-reality-of-student-debt/#comment-78430 Russell Wed, 30 May 2012 15:44:58 +0000 http://www.gwhatchet.com/?p=41849#comment-78430 They should extend student aid to the summer term and not charge classroom rates and lab fees for online classes! They should extend student aid to the summer term and not charge classroom rates and lab fees for online classes!

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