A note on financial matters
Ok, so money makes the world go round right? And there's no such thing as a free lunch right?
So I had the intriguing experience last week of hearing incessantly about MOHELA and Missouri's child governor on NPR. Then I read an article in the Post-Dispatch by David Nicklaus called "Everybody should belly up to the table for a 'free lunch' " Following this I spent 2 hours working at the library filling updates to the Federal Tax Code.
No connection you say? What is she rambling about you say?
Au contraire mon amies, there is indeed some rather interesting hay to be made of all of this.
1. All the pundits on NPR and guys like Mr. Nicklaus are commenting and stating this and that about the MOHELA deal all over the air waves and in print. What they haven't been doing is a whole lot of explaining about what in the world it means for anyone who might actually be affected by the sell off. I.E. poor graduate students like myself who actually have MOHELA loans.
2. Ok so the law surrounding non-profits, bond caps and private loan companies is little complex to say the least and its always changing. I should know because I have to refile pg 133xxx - 1234xxx of the Federal guidelines for the.... Agency of.... in regards to.... Reporter every Saturday. I'll be honest I try not to read what I'm filing; I'm afraid my head might spontaneously combust from the legalize, exceptions, guidelines and other fun things. There was even a nice picture on the proper formatting for submitting your application last week along with a picture of Mr. Peanut. (seriously I'm not making that up)
But who really understands it? Does the "reasonable person" who daily signs extremely long contract on the internet at just the click of the "I agree" button? How about the reasonably educated thinker who is just trying to pay back their student loans at the best interest rates because they took the low paying but rewarding job as a city public school teacher? What about the tax attorney who spent 3 years at law school and then another 5 years at a firm learning how to use the law? What about the state elected politicians who are pushing the deal?
Who can and should understand all of this? Who needs to ? Who actually WANTS to?
If you do, more power to you. I just want to know that MOHELA will still be around and keeping my interest rates reasonable for the next few years-that's my bottomline.
And here's hoping that the things I so willing file for my federal work study wages aren't changing the law in a way that I won't even begin to comprehend until I take tax next year. Or in a way that will change my financial rights and responsibilities or yours or the "reasonable person's". Because will we know the difference before the IRS shows up on our doorstep? Or before the nice Missouri Loan program suddenly dries up?
So I had the intriguing experience last week of hearing incessantly about MOHELA and Missouri's child governor on NPR. Then I read an article in the Post-Dispatch by David Nicklaus called "Everybody should belly up to the table for a 'free lunch' " Following this I spent 2 hours working at the library filling updates to the Federal Tax Code.
No connection you say? What is she rambling about you say?
Au contraire mon amies, there is indeed some rather interesting hay to be made of all of this.
1. All the pundits on NPR and guys like Mr. Nicklaus are commenting and stating this and that about the MOHELA deal all over the air waves and in print. What they haven't been doing is a whole lot of explaining about what in the world it means for anyone who might actually be affected by the sell off. I.E. poor graduate students like myself who actually have MOHELA loans.
2. Ok so the law surrounding non-profits, bond caps and private loan companies is little complex to say the least and its always changing. I should know because I have to refile pg 133xxx - 1234xxx of the Federal guidelines for the.... Agency of.... in regards to.... Reporter every Saturday. I'll be honest I try not to read what I'm filing; I'm afraid my head might spontaneously combust from the legalize, exceptions, guidelines and other fun things. There was even a nice picture on the proper formatting for submitting your application last week along with a picture of Mr. Peanut. (seriously I'm not making that up)
But who really understands it? Does the "reasonable person" who daily signs extremely long contract on the internet at just the click of the "I agree" button? How about the reasonably educated thinker who is just trying to pay back their student loans at the best interest rates because they took the low paying but rewarding job as a city public school teacher? What about the tax attorney who spent 3 years at law school and then another 5 years at a firm learning how to use the law? What about the state elected politicians who are pushing the deal?
Who can and should understand all of this? Who needs to ? Who actually WANTS to?
If you do, more power to you. I just want to know that MOHELA will still be around and keeping my interest rates reasonable for the next few years-that's my bottomline.
And here's hoping that the things I so willing file for my federal work study wages aren't changing the law in a way that I won't even begin to comprehend until I take tax next year. Or in a way that will change my financial rights and responsibilities or yours or the "reasonable person's". Because will we know the difference before the IRS shows up on our doorstep? Or before the nice Missouri Loan program suddenly dries up?
posted by joules at
6:50 PM
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