Good points, Rusty - I forgot about the deferment. As long as you work in the area of instruction, your loan payments are deferred until you hit the end of the time period. The big difference is whether or not your loans are subsidized or unsubsidized. If they're unsubsidized, the interest continues to accrue during the deferment period, I believe.
Florida has a similar program as HOPE called "Bright Futures". It kicked ass, as all you had to do was have a 3.0 GPA or better and you qualified. If you had a 3.0-3.4 you got 75% tuition reimbursement at any state school, 3.5 and above you got 100%. Only thing it didn't cover was books. And I used to listen to these kids in my cohort bitch about paying for books..... On an aside, we had a grant that covered a couple of classes plus a nice stipend on top. We had to agree to teach in a Title 1 school for two years in our first five years of teaching. They never had us sign the contracts, so in about three more years it will be interesting to see if they try and collect. Dan --- On Fri, 8/28/09, Rusty Cullens <ru...@buymbparts.com> wrote: > From: Rusty Cullens <ru...@buymbparts.com> > Subject: Re: [MBZ] Just back from Boston > To: "Mercedes Discussion List" <mercedes@okiebenz.com> > Date: Friday, August 28, 2009, 10:39 AM > Georgia has a very good deal for > teachers. My daughter had the HOPE scholarship for all 4 > years of undergrad in Education, which means we paid only > $500 a year for books, no room, board or tuition. Then for > her Masters in Low-incidence Disabilities, she took out > loans, knowing that if she signed a 3 year deal in GA the > loans are paid by the state. The first payment isn't due > until your 3rd year out of school, so if you complete your 3 > year deal you owe absolutely nothing. She will complete her > 3rd year in May 2010. She is teaching at the same high > school she graduated from and has 3 students and 3 aides. > Her students can barely function, but she will have them > until they are 22 years old. Then the State kicks them out. > Her kids are 16, 18 and 19, so she'll have them for some > time. She adores all 3 of them. > > Rusty Cullens > BuyMBparts, Inc. > Tel 1-800-741-5252 > Fax 770-454-9745 > > ----- Original Message ----- From: "LWB250" <lwb...@yahoo.com> > To: "Mercedes Discussion List" <mercedes@okiebenz.com> > Sent: Friday, August 28, 2009 8:55 AM > Subject: Re: [MBZ] Just back from Boston > > > I had direct knowledge of the forgiveness program for > teachers, and I can tell you that it sucks. You have > to work 5 continuous years in a particular area of teaching, > such as science or special ed., and when it's all said and > done you get a $17,000 credit against your loans. If > you fail to work continuously in the area(s) that qualify > you for forgiveness, the clock starts over. > > What I took exception to is when I was finishing up my > education degree the college and school systems pitched this > really hard, which I think is an ethical issue, as the odds > are against you in my opinion. Dangling a carrot like > this in front of a bunch of tapped out 4th year college > students with +$40k loans hanging over their heads is just > wrong, IMHO. > > In my cohort of 15 people, I only know of two who are even > close to qualifying for this. And they both still have > 3 years to go to qualify. > > I am pleased that Sallie Mae closed the loophole that > allowed people to default on student loans, however. > Too many doctors and lawyers (present company excepted, of > course) bailed on the system and left us taxpayers to settle > their debts. > > Dan (with a fairly good sized Stafford loan that should be > paid off around the time I retire. > > --- On Fri, 8/28/09, Donald Snook <dsn...@mtsqh.com> > wrote: > > > From: Donald Snook <dsn...@mtsqh.com> > > Subject: Re: [MBZ] Just back from Boston > > To: "Mercedes@okiebenz.com" > <Mercedes@okiebenz.com> > > Date: Friday, August 28, 2009, 8:07 AM > > Wonko wrote: "$50K? I sure hope > > that was Harvard. You can get a private, tight > > teacher/student ratio small university in Iowa for > only > > $35K, with lots of financial assistance." > > > > I had $92,000 in student loans once I finished law > school > > and took the bar exam. Most of that was for Law > > school, but about $30,000 of it was from undergrad. > > AND this is with fairly significant scholarships in > law > > school. The cost of education (especially any kind of > > graduate school) is getting out of control. > > > > Back in 2000, I was accepted to the University of > Michigan > > Law School (one of the best in the country). After > > scholarships, the cost of Tuition was going to exceed > > $15,000 per year (regular rate back then was $30K per > year). > > In grad school a student can only borrow $18,500 per > > year. So, I would have to borrow that much just to > > cover tuition and have nothing to live on. > > > > Needless to say, I didn't go to Michigan for law > school. My > > student loan payment is about $750 a month (and that > is > > consolidated at 1.9% interest on the extended plan). > I > > have friends who went to medical school who have > $200,000 in > > student loans. Even the new public service > > program for forgiveness of student loan debts requires > years > > and years of payments. I don't have an answer, but I > > know it's a problem. > > > > > > Donald H. Snook > > > > -------------- next part -------------- > > An HTML attachment was scrubbed... > > URL: > > <http://okiebenz.com/pipermail/mercedes_okiebenz.com/attachments/20090828/d67566b9/attachment.html> > > _______________________________________ > > http://www.okiebenz.com > > For new and used parts go to www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > > > To Unsubscribe or change delivery options go to: > > http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > > > > > > > _______________________________________ > http://www.okiebenz.com > For new and used parts go to www.okiebenz.com > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > > > > > _______________________________________ > http://www.okiebenz.com > For new and used parts go to www.okiebenz.com > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com For new and used parts go to www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
