A question about debt/student loans...

[swatmc]

I am 24 years old working in Manhattan as a videographer/editor.

I would very much like to attend graduate school at the University of Texas @ Austin and study TV/Radio/Film and Public Affairs. It has been a dream of mine to do so for a long time. However, it will cost me an arm and a leg and I am going to have to take out student loans.

I feel almost hypocritical doing so and being a Ron Paul supporter.

Should I take out student loans?

-Mike
http://www.youtube.com/watch?v=tL6cE_-C4Rk
http://www.youtube.com/watch?v=trAiCwzSVho

[acroso]

Should I take out student loans?

uhhh yes!
government offers them. They'll take 44% of all income too via taxation. You may as well take advantage of what we get out of that money we put in.

[nist7]

Not all student loans are not subsidized by the government.

There are plenty of private loaners who will loan to students.

[Goldwater Conservative]

Are you a hypocrite for using public roads financed by gasoline taxes, which you pay at the pump? Are retirees hypocrites for getting Social Security benefits after paying Social Security taxes for decades? You have nothing to worry about. :)

[freedominnumbers]

YES to UNSUBSIDIZED federal student loans. NO to SUBSIDIZED.

It's one thing to rely on a federal guarantee of the loan in order to get it, that doesn't cost your neighbor anything unless you default. It's another to default and/or take a subsidized loan because in that case your neighbor is paying your loan guarantee and/or interest.

[yongrel]

You've payed money into the system to finance other people's student loans. Get your money back. Unless you can afford to take a principled stand in the extreme, take the student loans.

[webaform]

I would not take out this loan.

[maiki]

Many, many student loans are private. Also, there are many *grants and scholarships* which are a far better deal that are private. Try to go for free before you go into debt.

Since I was not a US resident when I went to college, all my loans and scholarships were privately funded, and my parents and I only paid about a quarter of my tuition. The money is out there, you just have to look for it.

[derekjohnson]

I have over 200K in student loans, 80 K in subsidized loans. When it is all said and done, the government will have paid about 30K in interest while I was in school and I will pay anywhere from 80-200K in interest when I pay them back, depending on how long I take to pay them back. When I consider this and the fact that the government is likely to take about 100K in taxes from me every year I practice, I have no issues with the 30K in taxpayer funds I used to advance my education.

[DealzOnWheelz]

write letters to companies that you may want to work for in those fields and ask them about sponsership programs

[freedominnumbers]

You've payed money into the system to finance other people's student loans. Get your money back. Unless you can afford to take a principled stand in the extreme, take the student loans.

That logic doesn't hold up. The majority of the population will never pay in more than the government consumes on their behalf.

We need to break the general population of this way of thinking if we want anything to change in government.

[Dan Klaus]

YES to UNSUBSIDIZED federal student loans. NO to SUBSIDIZED.

Exactly!! For example, a stafford loan will be offered at a certain percentage...you take a loan of 6,000 and you will recieve 5,500 or whatever the percentage is UP FRONT...then you have to pay a percentage when you pay the original 5,500 back because they legally sell your loan to another company which can begin charging interest....sound confusing???

The idea is they make so much interest off of a subsidized loan that it simply is not worth it...other financing options are still available however...don't be demoralized and good luck with your education...

[Spirit of '76]

Just be aware that you may be saddled with these loans for a long, long time. Use them as sparingly as possible. Don't take the full amount offered unless you have no other choice.

[swatmc]

Thanks everybody!

You gave me a lot to think about.

-Mike

[CMoore]

Keep in mind that you will NOT be able to discharge a government backed student loan in bankruptcy. So if you borrow money to go to school be sure it is a loan that is dischargable. Otherwise if you become ill or fall into debt because you can't find a job in your field, etc, you will be stuck with that debt FOREVER. Student loans are a trap for the unwary.

[Lyn]

It is OK to take the loan as when you graduate you will probably move up a tax bracket and they will get everything and more back via the extra taxes you will pay over your lifetime. Unless of course, RON PAUL becomes president.

[murrayrothbard]

Take every single benefit you can from the government. It's not like by not taking what is offered the money is going to go back to the people it was stolen from. Now advocating for a new benefit or an increase in an existing program is an entirely different matter.