[nabs-l] financial aid

[Bill]

I think it is extremely unfair to make these statements about loans.
While it may be true that some members of our society cannot take out
loans for one personal reason or another, or choose not to, does not
make them worthless.  Loans, especially those offered by the US
federal government can be a very useful tool to help afford college
expenses.  As with financing a car or house, the borrower needs to be
aware of their financial situation and likely earning prospects when
determining whether to take out loans and if so, how much to borrow.
I found the subsidized federal stafford loans helpful for college
because I could take out a several thousand dollar loan, that would
not accrue interest as long as I was a student.  This allowed me to
make payments towards it throughout the term as I earned money and
make significant dents in it during the summer when I was able to work
full time.  I am currently a grad student and only have about 2
thousand in loan debt, which I still am not accruing any interest on.
Loans are how most students afford college, and just like any other
loan, such as a mortgage, be a wise borrower will probably keep you
out of trouble.  Loans are just another tool in life, and like almost
every tool, if used correctly can be a great help, but if used
incorrectly can cause great harm.
Bill

On Wed, Jul 25, 2012 at 7:28 AM, Beth <thebluesisloose at gmail.com> wrote:
> This message regards financial aid.  Wasif, you said FAFSA won't pay if my
> GPA is below    2.0.  Well, I have SSI and can't pay for school even with
> loans.  Loans aren't worth crap, and government loans aren't worth crap
> either.  I say this because some students, even Muslim students, can't pay
> the loans back because interesft is considered Riba, or evil.  You can't
> borrow money from banks due to religious reasons, and that's the truth for
> some people.
> Beth
>
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-- 
Bill Casson
University of New Mexico
M.S. Computer Science
Lewis & Clark Alumnus '11
B.A. Physics and Math/Comp Sci.
(505) 695-1374
cassonw at gmail.com