Comments on: Debtor grad: ‘I wish I’d gone to prison’ http://www.joannejacobs.com/2009/05/debtor-grad-%e2%80%98i-wish-i%e2%80%99d-gone-to-prison%e2%80%99/ Thinking and Linking by Joanne Jacobs Fri, 10 Feb 2012 11:52:13 +0000 hourly 1 By: bandit http://www.joannejacobs.com/2009/05/debtor-grad-%e2%80%98i-wish-i%e2%80%99d-gone-to-prison%e2%80%99/#comment-46729 bandit Mon, 18 May 2009 17:44:57 +0000 http://joannejacobs.com/?p=9020#comment-46729 Hernan seems a little bit optimistic about the world of opportunities available to parolees and ex-cons. Hernan seems a little bit optimistic about the world of opportunities available to parolees and ex-cons.

]]> By: Peter http://www.joannejacobs.com/2009/05/debtor-grad-%e2%80%98i-wish-i%e2%80%99d-gone-to-prison%e2%80%99/#comment-46728 Peter Sun, 17 May 2009 02:57:51 +0000 http://joannejacobs.com/?p=9020#comment-46728 Based on the article, I'm not sure whether to feel sorry for Hernan or not. While I'm a little surprised that someone who graduated at 30 has that much debt (as that sort of suggests that he went part time while working), it's certainly possible. But what the article doesn't mention, and what Hernan seems not to realize, is that there are are several different options for dealing with student loans. The most obvious would seem to be the income contingent payment plan. Also available are income sensitive repayment plans, graduated repayment plans, consolidation plans...and probably a few others. Most of these plans would help him out considerably, at least in the short to medium term. Based on the article, I’m not sure whether to feel sorry for Hernan or not. While I’m a little surprised that someone who graduated at 30 has that much debt (as that sort of suggests that he went part time while working), it’s certainly possible.

But what the article doesn’t mention, and what Hernan seems not to realize, is that there are are several different options for dealing with student loans. The most obvious would seem to be the income contingent payment plan. Also available are income sensitive repayment plans, graduated repayment plans, consolidation plans…and probably a few others.

Most of these plans would help him out considerably, at least in the short to medium term.

]]> By: Kate http://www.joannejacobs.com/2009/05/debtor-grad-%e2%80%98i-wish-i%e2%80%99d-gone-to-prison%e2%80%99/#comment-46727 Kate Fri, 15 May 2009 23:46:44 +0000 http://joannejacobs.com/?p=9020#comment-46727 Bu why does he have so much credit card debt? That accounting degree didn't seem to sink in, if compound interest has evaded him. On the other hand, he's only 30. He could still set up a Ponzi scheme and fulfill his dream of incarceration. Bu why does he have so much credit card debt? That accounting degree didn’t seem to sink in, if compound interest has evaded him.
On the other hand, he’s only 30. He could still set up a Ponzi scheme and fulfill his dream of incarceration.

]]> By: SuperSub http://www.joannejacobs.com/2009/05/debtor-grad-%e2%80%98i-wish-i%e2%80%99d-gone-to-prison%e2%80%99/#comment-46726 SuperSub Fri, 15 May 2009 21:30:05 +0000 http://joannejacobs.com/?p=9020#comment-46726 I have no pity for Hernan... anyone who willingly enters into a $30,000 debt without some certainty of income is foolish. College is overrated. I have no pity for Hernan… anyone who willingly enters into a $30,000 debt without some certainty of income is foolish.

College is overrated.

]]> By: cbi http://www.joannejacobs.com/2009/05/debtor-grad-%e2%80%98i-wish-i%e2%80%99d-gone-to-prison%e2%80%99/#comment-46725 cbi Fri, 15 May 2009 04:41:16 +0000 http://joannejacobs.com/?p=9020#comment-46725 The new public service program heavily penalizes married folks. If you file your taxes as married-filing jointly then your spouse's income is included in the amount calculated. When this is done your payment is substantially the same as before the program. If you chose to file married-filing separately then you and your spouse are ineligible for substantial tax benefits. Ironically, one of the benefits lost is the student loan interest deduction. Sadly, it's a poorly designed program. But, with luck, they'll fix the bugs before next tax season. I work as a public defender. My college loans for undergrad, master's, and law degree total around $120k. Compared to many, all things considered, this is a pretty reasonable amount. I've told my boyfriend that I can't afford to marry him. The new public service program heavily penalizes married folks.

If you file your taxes as married-filing jointly then your spouse’s income is included in the amount calculated. When this is done your payment is substantially the same as before the program.

If you chose to file married-filing separately then you and your spouse are ineligible for substantial tax benefits. Ironically, one of the benefits lost is the student loan interest deduction.

Sadly, it’s a poorly designed program. But, with luck, they’ll fix the bugs before next tax season.

I work as a public defender. My college loans for undergrad, master’s, and law degree total around $120k. Compared to many, all things considered, this is a pretty reasonable amount. I’ve told my boyfriend that I can’t afford to marry him.

]]> By: david foster http://www.joannejacobs.com/2009/05/debtor-grad-%e2%80%98i-wish-i%e2%80%99d-gone-to-prison%e2%80%99/#comment-46724 david foster Fri, 15 May 2009 03:34:45 +0000 http://joannejacobs.com/?p=9020#comment-46724 The article did not identify the college that Mr Castillo attended. Why? The article did not identify the college that Mr Castillo attended.

Why?

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