Student Loans My Great Lakes

MyMy student loans were a great thing for mething for me. I was able to afford college without having to work while doing so. However, not everyone enjoys these loans the way I did.

I have some thoughts about how to make them better, as well as some ideas to help students who need them to do so.

So, here they are!

1-Make1-Make them free

If you’re going to give someone money, don’t make them pay it back. If you want people to take out loans, then lower the interest rate and make them completely free.

The best thing about making your loan free is that you aren’t giving anyone else any money. You’re just saving it away.

This could save us millions of dollars if we started paying off our debt now!

2-Credit2-Credit Reporting Agencies

Credit reporting agencies charge lenders money to report their credit reports. While the average person doesn’t know what credit rating they have, they pay monthly fees to check their own reports.

You should think twice before you use a lender  and consider whether or not the cost of the report outweighs the amount of money you’ll get.

3-Incentives3-Incentives

When a student goes through school, they often work hard and earn good grades. Why not reward them? Give students a choice betweentaking out taking out loans or working a job.

Let them choose where their money goes. If they decide they would rather work an extra hour per week, they’ll probably enjoy getting more money for themselves.

And if they decide that they’d rather borrow money, they’ll have a nice cushion of cash at the end of the year.

Student Loans:Loans: My Great Lakes

Student loans are big business. Big banks are spending billions upon billions looking for new customers at our high schools and universitiesuniversities. And they’re hungry! Just last week,week, Credit Karma released their 2017 college graduategraduate salary report,report, and it shows us just how much student debt we’ll soon have to shoulder. Students are graduating with $37,088 worth of loan bills… bills… AndAnd if you want to get a sense of just how bad things were back in 2005 while you’re watching,watching, we’ve got some numbers right here. In reality, the total amount of outstanding federal student loan debt was only around $260 billion.In reality, the total amount of outstanding federal student loan debt was only around $260 billion.That’s right, $260 billion. But now that number has ballooned to over $1 trillion. So what happened? Why did student loan debt go from $100 billion to nearly $1 trillion in so little time? Let’s take a quick look at the numbers. Total outstanding federal student loan debt increased by $127 billion between 2006 (the first year data waswas available) and 2010… 2010… and then by $200 billion between 2010 and 2014. Here’s where things get really interesting. Because student loans don’t always require repayment, the government started tracking them separately in 2011. What this means is that the increase in student loan debt after 2010 doesn’t actually reflect an increase in actual student loan balances. Instead, it reflects the inclusion of private student loans. Private student loans grew by more than $70 billion between 2009 and 2015, according to the U.S. Department of Education, bringing the total amount of private student loans to almost $800 billion. So,So, while total outstanding federal student loan balances went from $260 billion in 2007 to $1 trillion in 2016, the increase in the total amount of student loan debt stems not from a lot of people taking out more loans, but rather from a whole bunch of people defaulting on their old ones. There are two ways to pay off your student loans. You can either make payments directly to the lender  or you can file for Chapter 13 bankruptcy protection. Since the average credit card APR is around 20%, you might expect that paying down student loans would be similar. However, the reality is quite different. If you choose to make monthly payments to your student loan company instead of using a consolidation loan, the interest rate on those loans is variable, meaning that each month could cost you anywhere from 1% to 8% more than your original payment. On top of that, you’ll still be saddled with the same principal balance, regardless of whether or not you paid anything extra towards that balance. After 15 years, though, most private student loans become federal loans, which carry fixed rates and fixed monthly payments until you graduate — no matter how long ago you took them out. To give you anidea of idea of how much money you could save by consolidating your student loans, let’s say you originally borrowed $25,000. At 10%, interest on that loan accrues daily until you pay it off—evenoff—even if you never make a single payment. Over the course of 15 years, that would mean you’d owe a whopping $28,875.10 in interest charges alone. And that doesn’t factor in any potential penalties should you miss payments or be late on payments. In contrast, if you consolidatedconsolidated your student loans into one fixed-rate loan, you’d only end up owing $22,871.08 in interest. And that’s a savings of almost $5,000.00 over 15 years. So if you’re thinking about filing for bankruptcy, remember that that you can try to discharge your student loan debts, but you can’t discharge your federal income tax debts. One final thing to keep in mind: if you’re going to do something like movemoveacross the across the country to study abroad, you may want to consider doing it before you start piling on debt. While there’s nothing stopping you from getting a job while studying overseas, it’s probably best to wait until you’ve completed your degree program and landed a decent-payingdecent-paying job before you think about borrowing money to spend three months traveling Europe. If you’re planning to move to another state to attend school, you should definitely borrow the least possible amount of money. Otherwise, you might find yourself facing huge relocation costs just to cover the difference.

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Student Loans:Loans: My Great Lakes

Michigan-6Michigan-6% interest rate

Illinois has a 4% interest rate.Illinois has a 4% interest rate.

Ohio-5Ohio-5% interest rate

Wisconsin-7Wisconsin-7% interest rate

Indiana-3Indiana-3% interest rate

Minnesota has an interest rate of 8%.Minnesota has an interest rate of 8%.

8.9.108.9.10. South Dakota-0Dakota-0% interest rates

Nebraska has a 2% interest rate.Nebraska has a 2% interest rate.

Wyoming’s interest rate is 6%.Wyoming’s interest rate is 6%.

Idaho has a 0% interest rate.Idaho has a 0% interest rate.

Student Loans:Loans: My Great Lakes

The Great Lakes are the largest freshwater bodies in North America, covering about 25% of the total area of the continent. These five major inland seas are locatedacross the across the northern U.S., Canada, and the state of Michigan. These lakes, formed over millions of years, are great natural habitats for fish, birds, mammals, reptiles, amphibians, and marine animals.

Although these lakes were once protected by thick forests, they have been transformed by human activities. Today, many of them are polluted due to industries and sewage discharges. In addition, the water quality is declining due to excessive use of phosphates, nitrates, and other toxic chemicals. As a result, these coastal waters are becoming increasingly polluted.

What is happening to the Great Lakes?

Lakes Erie, Huron, and Ontario (the three biggest lakes) hold almost half of the world’s supply of fresh surface water.

Since 1850, the average annual discharge rate of the rivers draininginto the into the GreatLakes has Lakes has increased 12 times compared to the pre-industrialpre-industrial period.

Since 1970, the quantity of phosphorus dischargedto the to the Great Lakes has grown 15-fold.

The level of mercuryin the in the Great Lakes has increased 10 times since 1950.

In the last two decades, the number of toxic algae blooms has tripled.

Pollution in LakePollution in Lake Erie has worsened over the past decade. According to a study conducted by the Ohio Sea Grant Program, the oxygen content of Lake Erie has decreased by 1% per year between 1980 and 2000.

Since 1990, the number of dead zones in the Gulf of Mexico has doubled.

GreatLakes StudentLoansMyGreatLakes

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Student Loans:Loans: My Great Lakes

Lake Erie

The largest freshwater lake in the United States (and third-largest in the world), Lake Erie’s surface area is nearly 4500 square miles. Its maximum depth is 687 feet, and its average depth is about 170 feet. Lake Erie is surrounded by Ohio, Pennsylvania, Michigan, New York, West Virginia, and Ontario, Canada. The lake drains into the Niagara River  and eventually the St. Lawrence Seaway. The lake’s water level fluctuates with changes in precipitation. When the river is low, the lake drops below sea level, turning parts of the lake bottom into land and increasing the amount of fresh water runoff into the Mississippi River system.

Lake Huron

Lake Huron is located at the western end of LakeSuperior, with Superior, with the two lakes being connected by the Straits of Mackinac. The lake covers a total area of 3400 square miles, making it the second largest lake in the United States behind only Lake Michigan’s 3750 square miles. The deepest point is 535 feet deep. Lake Huron drains into Georgian Bay, the Detroit River, and thenout of out of the Saint Marys River. The lake’s water levels tend to vary due to climate change; however, over the past few decades,decades, the level has been rising.

Lake Superior

Lake Superior is the largest of the five Great Lakes and covers a vast area of 3200 square miles. With a total volume of approximately 1.8 billion cubic kilometers, Lake Superior is larger than either North America or South America. Its maximum depth is 1419 feet, while its average depth is around 450 feet. Water from Lake Superior flows through the Ottawa River, the St. Croix River, and the Wisconsin River before draining into the Gulf of Mexico. Over the years, Lake Superior has lost a significant amount of water to flow into the ocean due to human activity.

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