Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans) Forum
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Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Direct loans: 6% fixed interest (up from 5.31%), 1.069% origination fee, $20,500 annual limit
GradPLUS loans:: 7% fixed interest (up from 6.31%), 4.276% origination fee, up to annual cost of attendance
https://www.washingtonpost.com/news/gra ... t-for-now/
GradPLUS loans:: 7% fixed interest (up from 6.31%), 4.276% origination fee, up to annual cost of attendance
https://www.washingtonpost.com/news/gra ... t-for-now/
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
and people keep saying were the richest country in the world
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
We are the richest country in the world. Unfortunately, it doesn't mean we share our wealth.uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
that's the price we pay for muh freedumzuhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
/s
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
and it only comes with a 47% tax rate if you make more than 58k per year, not bad.....uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Not to mention that sweet, sweet VAT...saf18hornet wrote:and it only comes with a 47% tax rate if you make more than 58k per year, not bad.....uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Honestly, for most middle class people the standard of living in both countries is the same. In the U.S. taxes + private school tuition + private health care (which includes the cost of having to pay out-of-pocket for a medical problem, discounted by the not insignificant probability that the health insurance company will find a loophole and not cover you) = basically the same as taxes in Germany.saf18hornet wrote:and it only comes with a 47% tax rate if you make more than 58k per year, not bad.....uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
The only unique consequence of our super-private system is that it produces more millionaires and billionaires than in Germany. Congratulations. I'm sure you'll be one of them.
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Share of GDP for taxes, private tertiary expenditure, and private healthcare expenditure:Phil Brooks wrote:Honestly, for most middle class people the standard of living in both countries is the same. In the U.S. taxes + private school tuition + private health care (which includes the cost of having to pay out-of-pocket for a medical problem, discounted by the not insignificant probability that the health insurance company will find a loophole and not cover you) = basically the same as taxes in Germany.saf18hornet wrote:and it only comes with a 47% tax rate if you make more than 58k per year, not bad.....uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
Germany: 36.1% + 1.6% + 2.6% = 40.3%
United States: 26% + 2.6% + 8.9% = 37.5%
So it's pretty similar. My gut tells me that the American "middle class" probably bears more of the tax burden than the German "middle class," but I don't know that for a fact or how much.
I used percentage of GDP, which is more a measure of economic burden overall than personal burden, primarily because I knew where to find this data. If someone knows where to find better data, please - for the love of god - correct me.
Sources:
Tax revenue: http://www.heritage.org/index/explore?view=by-variables
Education: https://data.oecd.org/eduresource/priva ... cation.htm
Healthcare: http://data.worldbank.org/indicator/SH.XPD.PRIV.ZS
I think you're implying this is a bad thing, but I fail to see how, so I'll just leave it alone.The only unique consequence of our super-private system is that it produces more millionaires and billionaires than in Germany. Congratulations. I'm sure you'll be one of them.
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
If he believes that it is better to improve the quality of life for the vast majority of people in a country rather than improve any single individual's chance of becoming a millionaire / billionaire, then he'd think our super-private system is a bad thing. Quite simple, really.mathaddict wrote:Share of GDP for taxes, private tertiary expenditure, and private healthcare expenditure:Phil Brooks wrote:Honestly, for most middle class people the standard of living in both countries is the same. In the U.S. taxes + private school tuition + private health care (which includes the cost of having to pay out-of-pocket for a medical problem, discounted by the not insignificant probability that the health insurance company will find a loophole and not cover you) = basically the same as taxes in Germany.saf18hornet wrote:and it only comes with a 47% tax rate if you make more than 58k per year, not bad.....uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
Germany: 36.1% + 1.6% + 2.6% = 40.3%
United States: 26% + 2.6% + 8.9% = 37.5%
So it's pretty similar. My gut tells me that the American "middle class" probably bears more of the tax burden than the German "middle class," but I don't know that for a fact or how much.
I used percentage of GDP, which is more a measure of economic burden overall than personal burden, primarily because I knew where to find this data. If someone knows where to find better data, please - for the love of god - correct me.
Sources:
Tax revenue: http://www.heritage.org/index/explore?view=by-variables
Education: https://data.oecd.org/eduresource/priva ... cation.htm
Healthcare: http://data.worldbank.org/indicator/SH.XPD.PRIV.ZS
I think you're implying this is a bad thing, but I fail to see how, so I'll just leave it alone.The only unique consequence of our super-private system is that it produces more millionaires and billionaires than in Germany. Congratulations. I'm sure you'll be one of them.
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Yes, that is exactly what I believe.devilsadvocatetroll wrote:If he believes that it is better to improve the quality of life for the vast majority of people in a country rather than improve any single individual's chance of becoming a millionaire / billionaire, then he'd think our super-private system is a bad thing. Quite simple, really.mathaddict wrote:I think you're implying this is a bad thing, but I fail to see how, so I'll just leave it alone.The only unique consequence of our super-private system is that it produces more millionaires and billionaires than in Germany. Congratulations. I'm sure you'll be one of them.
Also, if you factor in private spending on childcare, Americans are far worse off than Germans.
https://www.weforum.org/agenda/2016/12/ ... cost-oecd/
- star fox
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Cry me a river that the gubmint won't fully fund your ability to obtain a license that will pay you $180K. Be grateful you got an open source of capital for it.uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Making disdainful posts doesn't really add to the discussion on this thread. If you don't like what uhwrestler posted, engage its substance. Otherwise, just continue scrolling and don't post.star fox wrote:Cry me a river that the gubmint won't fully fund your ability to obtain a license that will pay you $180K. Be grateful you got an open source of capital for it.uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
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- chargers21
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
I think I'm with wherever your head is. I'd rather pay interest on optional loans for optional education than be forced to pay yuge taxes. I enjoy my freedom, even if it doesn't make me a billionaire.star fox wrote:Cry me a river that the gubmint won't fully fund your ability to obtain a license that will pay you $180K. Be grateful you got an open source of capital for it.uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
Also
since when was private school something that people pay for regularly??Phil Brooks wrote:
Honestly, for most middle class people the standard of living in both countries is the same. In the U.S. taxes + private school tuition + private health care (which includes the cost of having to pay out-of-pocket for a medical problem, discounted by the not insignificant probability that the health insurance company will find a loophole and not cover you) = basically the same as taxes in Germany.
The only unique consequence of our super-private system is that it produces more millionaires and billionaires than in Germany. Congratulations. I'm sure you'll be one of them.
- magnum_law
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
That was a substantive post. It's among the most valid perspectives on this thread. I don't understand the eagerness to allow the government to manage every aspect of your personal finances.RedPurpleBlue wrote:Making disdainful posts doesn't really add to the discussion on this thread. If you don't like what uhwrestler posted, engage its substance. Otherwise, just continue scrolling and don't post.star fox wrote:Cry me a river that the gubmint won't fully fund your ability to obtain a license that will pay you $180K. Be grateful you got an open source of capital for it.uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
You're right. There's substance there. I should have critiqued the condescending style.magnum_law wrote:That was a substantive post. It's among the most valid perspectives on this thread. I don't understand the eagerness to allow the government to manage every aspect of your personal finances.RedPurpleBlue wrote:Making disdainful posts doesn't really add to the discussion on this thread. If you don't like what uhwrestler posted, engage its substance. Otherwise, just continue scrolling and don't post.star fox wrote:Cry me a river that the gubmint won't fully fund your ability to obtain a license that will pay you $180K. Be grateful you got an open source of capital for it.uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
- BlendedUnicorn
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
If y'all want to discuss the relative merits of the german system and the american system or whatever take it to the lounge.
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Re: Interest rates rise to 6% (Direct loans) and 7% (GradPLUS loans)
Mixed messages from TLS. In another thread entitled "Huge pay cut to go in-house," the OP said he wanted to "give his kids every advantage," which obviously included private school. Everyone applauded OP. I said that I hope OP's kid doesn't turn out to be one of those delusional people who started life on third base but believes that they succeeded only through their own hard work and therefore shouldn't pay taxes. Ultimately I was accused of asking the OP to "sacrifice his child on the altar of a broken public school system."chargers21 wrote:I think I'm with wherever your head is. I'd rather pay interest on optional loans for optional education than be forced to pay yuge taxes. I enjoy my freedom, even if it doesn't make me a billionaire.star fox wrote:Cry me a river that the gubmint won't fully fund your ability to obtain a license that will pay you $180K. Be grateful you got an open source of capital for it.uhwrestler wrote:meanwhile in germany all university tuition at all levels is free.....plus gov healthcare
and people keep saying were the richest country in the world
Alsosince when was private school something that people pay for regularly??Phil Brooks wrote:
Honestly, for most middle class people the standard of living in both countries is the same. In the U.S. taxes + private school tuition + private health care (which includes the cost of having to pay out-of-pocket for a medical problem, discounted by the not insignificant probability that the health insurance company will find a loophole and not cover you) = basically the same as taxes in Germany.
The only unique consequence of our super-private system is that it produces more millionaires and billionaires than in Germany. Congratulations. I'm sure you'll be one of them.
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