student loan forgiveness

• Question:-Can there be student loan forgiveness for moms who decide to stay home to raise their children?
  There is student loan forgiveness for people who do volunteer work or for teachers who teach low-income children, so why not for moms who have no income of their own, and choose the non-paying job of raising children?
  
  Answer:-Would this apply to all stay at home moms? Im a stay at home mom with no income of my own. Would i qualify? Now my husband has an income. He makes just over $112k a year from a trust fund. He owns 4 income properties. He recieves another $75k from disability insurance (private insurance NOT SSI) at the moment. Would i still qualify? Im still a stay at home mom with no income of my own. This is one major problem with the idea of loan forgiveness for stay at home moms. It would be ridiculous to allow someone with my household income to not pay a loan. And this isnt even touching the fact that all of us have the option of working or staying home. For those of us who choose to stay home we still have to be responsible to our debts. If we give special treatment based on being a stay at home mom we do a HUGE disservice to the working moms who struggle with bills. If anyone should be given debt forgiveness it should be people like Johnny's Mommy who work damn hard outside the home and struggle with bills because of a father who doesn't pay regular support or not enough, plus raise a good child after work. Those of us blessed enough to be able to stay home don't deserve more breaks in life while good people like that struggle.
• Question:-Is there any sort of student loan forgiveness program for newly graduated teachers who can't get jobs?
  I recently graduated from college with a degree in elementary education. Because of the economy and cuts in education I have been unable to find a teaching job. As a backup plan I am subbing at some local schools. This however, isn't consistent enough, or enough money to pay my loans. Does anyone know of some sort of student loan forgiveness program in the state of Alabama that could help?
  
  Answer:-
• Question:-How could I achieve student loan forgiveness?
  I am graduating with a master's degree in civil engineering in May 09 and I owe $50,000 in student loans. They are all Federal Staford loans; half unsubsidized and half subsidized. I've seen partial loan forgiveness programs for the state of Missouri. However, I live in Texas so this doesn't help my situation at all. Any thoughts (excluding loan consolidation)?
  
  Answer:-I forgive you
• Question:-Working for a non-profit community college, at any capacity, qualify for student loan forgiveness?
  I recently found out about student loan forgiveness and some of requirements. I work at a community college, but, not as a teacher. Would that qualify me for loan forgiveness?
  
  Answer:-yes. possible. write in
• Question:-Where can I find some information on the new student loan forgiveness program?
  My fiance and I are buying a house but she has a TON of student debt (roughly $118k) which is getting in our way. She makes practically nothing as a social worker, and I've read that the new program gives forgiveness to teachers, civil service workers, and possibly social workers.
  
  Do you know where I could find more specifics on this? Anything would be helpful. Thanks!
  
  Answer:-Department of Education has very specific rules for their student loan forgiveness policies for those who work in public service. Page 47 of this book describes the details of having loans forgiven. Note: these are for FEDERAL loans only. If she has private student loans (or she consolidated loans after graduation, she may not qualify.)
  http://studentaid.ed.gov/students/attach... (page 47)
  
  What is a public service job?
  Eligible public service jobs are full-time jobs in the following fields:
  • Emergency management
  • Government
  • Military service
  • Public safety
  • Law enforcement
  • Public health
  • Public education (including early childhood education)
  • Social work in a public child or family service agency
  • Public child care
  • Public service for individuals with disabilities
  • Public interest law services (including prosecution or public defense or legal advocacy in low income communities at a nonprofit organization)
  • Public service for the elderly
  • Public library sciences
  • School-based library sciences and other school-based services
  • Certain tax-exempt organizations
  • Faculty teaching in high-needs areas, as determined by the Secretary
  • Full-time faculty member at a Tribal College or University
  
  Note: A borrower who pays only, or primarily, under a 10-year standard repayment plan or under another repayment plan in amounts consistent with a 10-year standard repayment is UNLIKELY TO HAVE A REMAINING BALANCE for loan forgiveness after making 120 payments on the loan.
  
  (This is why no one ever really qualifies, they passed the law, but if the person actually pays on it for 10 years, they pay the loan off!!!!) Stupid, worthless benefit that looks good on paper but never gets used unless someone takes a job working for minimum wage after they earn their degree.
  
  How do I qualify for this loan forgiveness?
  To be eligible to have remaining balances canceled, you must not be in default on the eligible loans and must have made 120 monthly payments on the eligible loan(s) beginning after Oct. 1, 2007. Earlier payments do not count toward meeting this requirement. Payments must have been made under any one or a combination of the following Direct Loan Program repayment plans.
  
  • Standard Repayment Plan with a 10-year repayment period.
  • Income-Contingent Repayment (ICR) Plan—not available to parent Direct PLUS loan borrowers.
  • Income-Based Repayment (IBR) Plan—not available to parent Direct PLUS loan borrowers.
  • Other Direct Loan repayment plans, but only payments that are at least equal to the amount that would be required under the 10-year Standard Repayment Plan may be counted toward the required 120 payments.
• Question:-I am looking for ways to get Student Loan Forgiveness Do you know how?
  I have seen programs in the past where if you Teach for a year x amount of your student loan would be erased (paid off). I have also seen a program with the state department. Does anyone know of any other programs?
  
  Answer:-Here's one of the best kept student loan repayment secrets and employment benefits -- many employers will help pay off student loans as part of an employment incentive contract. Indeed, numerous employers, such as state agencies, colleges, hospitals, law firms, and law enforcement agencies in needy locations, provide student loan repayment standard salaries and benefits.
  
  Most of the 'forgiveness' programs are actually payment options. Certain jobs, teachers for example, will reduce, but not eliminate the loan, or give you more time before the payment comes due. Lots of places advertise 'student loan forgiveness' but they are high interest loan companies that get the government off your back by paying your loan and then you have a lower payment, but you will pay back 3 times as much after interest rates.
  
  Best way is to find a low cost loan and pay it off.
  
  Speaking from experience, they DO NOT forget or give up. They got me years later. To be honest, I had forgotten about it, but I still had to pay up after all those years.
  
  You can stay in school full time and then the due date is extended until you are out of course.
• Question:-How does a military vet Find student loan forgiveness programs, or grants.?
  I've got an old student loan that i just cant afford to pay of, the lender keeps changing
  
  Answer:-As far as I know there is no program for Vets. The only thing you can dispute is if your military service interfered with the completition of the class. You should be able to set up a payments plan.
• Question:-Does anyone have a list of school districts that offer student loan forgiveness?
  I am looking for a list of any school districts that may be available on a website that you might know of that offer student loan forgiveness if you teach there for a certain amount of time.
  
  Answer:-Contact your student loan lender, they will know or point you to where you can look it up.
• Question:-student loan forgiveness and government plant does it exist or not?
  I heard a few weeks ago about a government plan to forgive student loan debt (U.S.) by teaching in a foreign country or something like that? is this plan in existence or is there something like it? ty.
  
  Answer:-They allows people working in qualifying jobs to have federal loans forgiven if the borrowers are unable to repay their debt in 10 years of regular payments. Once you've made those 120 payments while employed in the right job, the remaining interest and principal are forgiven.
• Question:-What would the impact be on the economy if there was loan forgiveness on all outstanding student loans?
  What would the impact be on the economy if there was loan forgiveness on all outstanding student loans? Especially now during the financial crisis.
  
  Answer:-

flat tax

• Question:-Flat tax???!?!?!?
  I need reasons that we should switch to a flat tax system....and what the benefits would be of this switch...
  
  Answer:-Well a flat tax certainly would be fair. The poorest person would pay at the same rate as Bill Gates and Warren Buffet. It would be simple because all income would be subject to tax and there would be no deductions.
  
  But would it be a workable system? When the average middle class or poor taxpayer finds out his taxes are going up and taxes for the rich are going down, what do you think? Is it fair that a single mom with 2 children making $15000 a year who with the EIC pays no taxes now be able to make ends meet when she suddenly has to pay income tax? Is it fair that some with Social Security or a VA pension as their only income have to pay income tax? Why shouldn't some one who is rich not have to pay a higher rate than a middle class family? After all, hasn't this country been good to them?
  
  There is a flat tax proposal out there called the fair tax that is similar to what you are asking about. It proposes that all income be free of tax and instead a 30% sales tax be added to nearly every retail purchace. I don't like it because it is bad for the poor, families, the middle class, Social Security recieients and nearly everyone except the rich.
  
  By the way a flat tax won't make the IRS any smaller because some one still has to collect a flat tax or fair tax or what ever system we decide on.
• Question:-Flat Tax???
  What is flat tax? and how does flat tax adversely affect the middle class?
  
  Answer:-A flat tax would replace the current system with a single percentage for everyone. Right now, the system increases as income increases. For example, you only pay 10% tax on the first $10,000, then you pay 15% on the next $10,000. A flat tax would make it a single percentage, say 20%, for the full $20,000. Since the highest tax bracket is 35%, a flat tax would need to lower to avoid seriously harming low income people. This would allow for the wealthiest to receive huge tax breaks over the current system.
• Question:-flat tax...?
  what are the pros and cons of a national flat tax?
  
  Answer:-There are only CONS because a "Flat tax" or a "Fair Tax" would be anything BUT "fair." It would greatly benefit the very RICHEST of Americans and the very poorest Americans, but everyone else in the middle would feel the greatest squeeze.
  
  By way of contrast, most states that have sales taxes have roughly a 50 percent tax base. With the FairTax’s 100 percent base, consumers would pay taxes on a great many things that may not intuitively seem like consumption. The list would include:
  Purchases of new homes
  Rent
  Interest on credit cards, mortgages and car loans
  Doctor bills
  Utilities
  Gasoline (30 percent in addition to current taxes, which would not be repealed)
  Legal fees
  
  At today’s prices, gasoline would cost almost $1 per gallon more. A $150,000 new home would run $195,000 – plus the 30 percent tax that the buyer would pay on the interest on the mortgage. In short, the FairTax taxes everything that one buys, with the one notable exception of education. Any exceptions to the tax base (for instance, eliminating rent or credit card interest from the tax base) would require an offsetting increase in the rate.
  
  When Athens was ruled by dictators, an era we now call tyranny, each person paid the same tax. This levy was an onerous burden for nearly all except the rich. Thinking about this tax burden eventually gave birth to the moral basis of tax- the more and individual gains from living in a civilized society, the greater his obligation to maintain that society with his taxes.
  
  Here's a little homework for you all. Visit a "fair" tax or "flat" tax website such as fairtax.org, visit their "about us" section and then google the founders of that organization. Just about ALL of them are BILLIONAIRES. Now ask yourself "Would a billionaire REALLY want "fair" taxation or just taxation that helps THEM out?" I think we ALL know the answer to that one...
• Question:-How would a flat tax system improve the economy ?
  Recently I asked how people felt about a national sales tax to replace the current IRS system of payroll/income taxes. Someone mentioned a flat tax system - I was wondering how a flat tax system could benefit the working poor and the middle class ? Would it be better for them , or would it just save the rich more money ?
  
  Answer:-we would still have the IRS - no improvement
  
  the original Income Tax WAS a flat tax - but congress changed that - no improvement
  
  in 1986 they tried a three tiered flat tax - but congress puts in 4000 changes a year - no improvement
  
  guess it's time for the FAIRTAX and get rid of the IRS
  
  BIG IMPROVEMENT
  
  takes 3% of our Gross Domestic Product just to comply with IRS regulations and rules (that's gross)
  
  takes us 24-30 hours just to prepare our taxes - and if we make a mistake - OH how we are liable!!!
  
  so let's all pay at the cash register! ALL! and all Americans will get a tax 'prebate' since we dop not pay on the poverty level of taxes.
  
  so for me - about $26k salary - would get 28% MORE take home pay including the prebate.
  
  It would bring in more taxes 1.4 trillion would go up to 2 trillion
  would pay for Social Security and Medicare and the Federal Govt
  
  And all would pay - even the visitors to the US!
  **************************************************
  11 Trillion $$$$ comes home from overseas savings banks
  ***************************************************
  our goods cost 20% less overseas (and here) which should increase our economy WOWOWOWOWOWOW
  ***************************************************
  
  but we will lose our home mortgage deduction (dangle the carrot)
  uhhhhhhhh remember Boss Hogg? 10% of 10% of 10%
  sounds like a lot
  butttttttttttttttttttttttttttttttttttttttttttttttttttttttt
  only 45 % of taxpayers file a schedule A -
  Anddddddddddddddddddddddddd
  we can only claim that amount over the 10,000 that IRS now
  gives us -
  annnnnnddddddddd
  we only get to keep the percentage that we go over that 10k
  soooooooooo would I rather have the 2% I might get back
  
  or the 28 % sure thing
  
  wow - I am really confused - 2 or 28 - - - - - - - - -
  
  let me have the cart load of carrots - and you can keep the one!
  
  all the best
• Question:-What are the cons of a flat tax amongst businesses?
  If we had a flat tax on all business income instead of the sales tax we have today, would we generate more income? I admit I do not know a lot about our business income tax laws, but what do you think?
  
  Answer:-I agree you don't know a lot about business income taxes.
  Business pay income tax, not a sales tax. They might pay sales taxes on items they consume, but for the most part, consumers pay the sales tax.
  
  The impact of a flat tax on business would of course depend on the rate. After all, there's a big difference between paying a 5% rate and a 55% rate. The first would bring joy, the second, many bankruptcies.
• Question:-Why would any person earning an average wage support a flat tax?
  Just to give you an idea of flat tax. The UKIP wants it in the UK. They advocate a flat tax of 33% for all incomes. Of course very low income earners may benefit from this as they may be bumped off the tax system, however the average wage tax bracket in the uk is 22% and the top bracket is 40%. So essentially a flat tax would give the normal workers a 11% tax hike and the rich a 7% tax cut. Why would anyone on a normal wage support ideas like this?
  
  Answer:-Because they're too stupid to see the sense of what you say? There have been many fringe nut cases in Australia who have suggested this sort of tax too...(in fact some of those fringe nut cases used to run the country under Howard). Pauline Hanson was another who thought flat tax was a great idea. She also thought Aboriginals were all cannibals, but that's another story.
  
  And you would be amazed at how many on an average wage thought it was a good idea.
  
  They get told that if they work hard and earn more they will be better off under this system and that if the progressive tax system stays when their wages rise they will lose most of it to the tax man.
  
  And as I said they are stupid enough to believe it. They are also stupid enough to believe that hard work will get them the high wages. But no matter how hard you work on a process line, you're never going to be in the top marginal tax bracket, are you?
• Question:-Proponents of a flat tax believe that tax revenues can actually rise even when the flat tax is lower than curr?
  Proponents of a flat tax believe that tax revenues can actually rise even when the flat tax is lower than current income tax rates. How could this happen and why? What's your position on this issue?
  
  Answer:-Many proponents of the flat tax start at an income level which exempts minimum wage earners. Dependents are the only variable exemption. There are no interest payments, house taxes, sales taxes earned income credits or any other deductions. That net amount is subject to a flat tax rate and everyone pays. I like the idea and feel that the person who earns the most should keep the most. Even in the Communist society those in the know had all the benefits.
• Question:-Is the flat tax a liberal or conservative value?
  I can see great benefits in controlling the writeoffs that the rich use a corporate welfare. But the rate should be 25% not 17%. Are there any others liberals that support the flat tax?
  
  Answer:-IM GOING TO GIVE WALLSTREET MORE TAX CUTS AND BONUSES
• Question:-Would a flat tax bring in more revenue for the government?
  I am under the impression that there is a large portion of our society that pays no income tax at all. In fact, my neighbor worked six months out of the year last year and got back more than she paid in? Would a flat tax, along with the elimination of the IRS, bring in more revenue than our current system? Has anyone done any studies on this, and could you provide a link?
  
  Answer:-Absolutely not. The vast majority of our country's money is grouped with the richest 1% of the country. Increasing taxes among the poor will barely increase revenue and will just put them in a worse position. In the meantime, a flat tax would reduce taxes for the rich, which would drastically reduce revenue. Btw, about 40-50% of people pay no federal income tax. They still pay a myriad of other taxes to federal, state, and local taxes.
• Question:-Why wouldn't lowering the corporate tax as well as a flat tax for Americans work?
  I don't understand why Corporate taxes are so high?
  Why wouldn't a flat tax for Americans work?
  Why not lower the taxes to a bare minimum on the money offshore so It will come back to the USA?
  Why not do double back flips for small businesses.
  What am I missing here?
  
  Answer:-Serious questions take many words to provide a serious answer.
  
  A flat tax would be devastating to the middle and lower classes and the very wealthy would welcome it because their tax rates would fall even more.
  
  CONSIDER THIS: If you tinker with the WAY we collect taxes WITHOUT CHANGING THE TOTAL REVENUE, do you possibly think that the wealthy would pay more while giving tax relief to the working class? I doubt any reform does that.
  
  Dick Armay's flat tax plan only considered wages, salaries, and pensions as income, while all other wealth transfer, such as investment and business income completely escaped taxation.
  
  Warren Buffet, the wealthiest man in America, says that his secretary pays taxes at a higher rate than him. There are some honest rich people who recognize the already unfair tax system. Flat tax systems or VATs are not the answer.
  
  Over the past 30 years, Republicans have convinced the public that they should be grateful to the wealthy for thier jobs, proclaiming that without a rich investor there would be no jobs. But that could not be further from the truth. Without workers there would be no wealthy. They claim expiration of a tax cut on the wealthiest 3% would be a job killer. Michael Steele and fellow Republicans fail to show us how. Will Republicans hide their money in their mattresses after the tax increase or will they continue seeking the highest investment returns possible?
  
  I'll tell you about the injustice of the American tax system. The working class pays more in taxes than the investment class.
  
  Workers pay a marginal rate of 40.3% (25% federal, 15.3% FICA)
  
  The wealthy investment class pays a marginal rate of 15% (15% capital gains taxes, near 0% Social Security and Medicare).
  
  Ask yourself why workers are taxed at nearly triple the rate of investors.
  
  There are just four ways to create wealth:
  
  1. Sell natural resources, such as animal, vegetable, and mineral
  2. Labor
  3. Intellectual and creative invention
  4. Exploit someone else's efforts from no's 1-3 above
  
  Of all these, #4 gets treated most favorably by our tax system. Investors create nothing of value.
  
  The wealthy cannot make money off their investments without someone to raise the livestock, pick the crops, or mine the copper. They cannot make money without workers. Their investments will not grow without inventors designing products or writing movie scripts.