DCI partners with student loan provider

[silvertrombone]

http://www.dci.org/news/view.cfm?news_id=5...ed-17007e24b631

I'm a big fan of student loans when they make money. Meaning, I lived on loans for grad school, but that was for an MBA. Pays a little bit more than music ed, which the bachelors was in. I'm not a big fan of loans for something like MuEd, education, or underwater basket-weaving--doesn't pay enough to cover the loans comfortably.

I'd like to hear from others with loans out in the work force as well as thought on partnering with loan providers. I have a major beef with our schools hosting credit card companies. And if you want any illustration as to why I say this, pick up the paper and read all about the present 'mortgage crisis,' 'credit crunch,' etc. Loans are not to be spat at, and we as a society seem to see how the government operates and think that we can do the same thing.

If DCI wants to pawn access to youth and students, there are other ways of doing it without pawning the youth and students themselves.

Thoughts?

[cone256]

http://www.dci.org/news/view.cfm?news_id=5...ed-17007e24b631

I'm a big fan of student loans when they make money. Meaning, I lived on loans for grad school, but that was for an MBA. Pays a little bit more than music ed, which the bachelors was in. I'm not a big fan of loans for something like MuEd, education, or underwater basket-weaving--doesn't pay enough to cover the loans comfortably.

I'd like to hear from others with loans out in the work force as well as thought on partnering with loan providers. I have a major beef with our schools hosting credit card companies. And if you want any illustration as to why I say this, pick up the paper and read all about the present 'mortgage crisis,' 'credit crunch,' etc. Loans are not to be spat at, and we as a society seem to see how the government operates and think that we can do the same thing.

If DCI wants to pawn access to youth and students, there are other ways of doing it without pawning the youth and students themselves.

Thoughts?

I enlisted in the National Guard to help pay back my loans. And my job is to play the tuba for them ;-), not a bad gig

[Lance]

Yeah, these types of loan providers are awful. Students, no matter their degree, should stay away from this sponsor if at all possible.

[corpsvalues]

Yeah, these types of loan providers are awful. Students, no matter their degree, should stay away from this sponsor if at all possible.

On what do you base this assertion?

I'm curious because although I doubt that at my age I'll be needing the services of a student loan provider, I do dabble in the world of investing from time to time. After reading the original post, I clicked through to read that the outfit partnering with DCI is owned by Lehman Brothers, which is certainly not a fly-by-night organization.

[Lance]

I base it on the higher interest rates they charge than loans provided based on need by the government on both the federal and state level. I've worked in residency and finaid offices at the Univerity I attend, and the number of kids we see getting these loans is baffling.

[dbc03]

Student loans are great! I wouldn't have been able to go to college without private student loans.

Do whatever it takes to go to college. It is better to be poor and doing something you enjoy than poor and doing something you hate.

[dbc03]

I base it on the higher interest rates they charge than loans provided based on need by the government on both the federal and state level. I've worked in residency and finaid offices at the Univerity I attend, and the number of kids we see getting these loans is baffling.

A lot of people need student loans but don't have "need" as defined by the government. I paid for almost my entire college education with student loans and the government said I didn't "need" money.

Even if I had gotten the max amount from the federal government that would have covered maybe 50% of a year if you don't count housing and transportation.

[Lance]

Yeah, I recommend working in that case, or going to a cheaper school if the EFC computed on the FAFSA is too high for you. These loan companies are major rip offs, IMO, unless maybe you're going into a field that pays really well. Good for you if you think they're cool.

[AlexL]

Yeah, I recommend working in that case, or going to a cheaper school if the EFC computed on the FAFSA is too high for you. These loan companies are major rip offs, IMO, unless maybe you're going into a field that pays really well. Good for you if you think they're cool.

yeah... unless your schedule, between marching (say goodbye to summer income), and other activities, substantially limits your available time to work.

i didnt have to have private loans, but had my parents not been able to help me out, i would have. the govt loans i was eligible for barely covered anything.

[Lance]

Yeah, I understand that. Everbody knows their own financial situation, but in my opinon, if you can't afford college without paying up to 15% interest to a company who actually boasts that they can loan you up to $250,000 for school, then full time school all the time might not be the best idea for you. I really hope kids and their families really look at the cost/benefit ratio of borrowing money at ourtrageous rates or maybe compromising some of those "other activities" you speak of.