US Economic Stimulus Begins Today...student loans?

Discussion in 'Politics, Religion, Social Issues' started by Sdashiki, May 2, 2008.

  1. Sdashiki macrumors 68040

    Sdashiki

    Joined:
    Aug 11, 2005
    Location:
    Behind the lens
    #1
    If you have direct deposit for your federal income taxes, you should be getting your loot today at the latest.

    http://www.irs.gov/newsroom/article/0,,id=181972,00.html

    However, I have noted something I cant get clarification on...

    My loan is still held by the Dept. of Ed, and not a private company.

    Does this mean that instead of getting my $300, they will make a $300 payment for me on my loan(s)? :mad: :confused:
     
  2. glocke12 macrumors 6502a

    glocke12

    Joined:
    Jan 7, 2008
    #2
    I think they mean if your student loan is past due they will apply the rebate to that.
     
  3. PlaceofDis macrumors Core

    Joined:
    Jan 6, 2004
    #3
    i got mine on tuesday. but i would think that it wouldn't be applied directly to your loan unless past due
     
  4. Sdashiki thread starter macrumors 68040

    Sdashiki

    Joined:
    Aug 11, 2005
    Location:
    Behind the lens
    #4
    I just wish the wording was clearer to saying that outstanding debt does not include loans not in default.

    :p

    yay money!
     
  5. Desertrat macrumors newbie

    Joined:
    Jul 4, 2003
    Location:
    Terlingua, Texas
    #6
    Ah, the Stimulus Package!

    Add to federal deficit? Yup.

    That part of the money which buys imports, add to trade deficit? Yup.

    Reduce the buying power of the dollar? Yup.

    Ah, the infinite wisdom of our so-called "Leaders"!

    And people are happy to sell their votes for a piddly $300 or $600.

    Oh, well. Off to that old highway. Y'all have fun in your spending.

    'Rat
     
  6. Mackan macrumors 65816

    Joined:
    Sep 16, 2007
    #7
    I have always wondered how a one time check of say $300 dollars will remedy everything?
     
  7. solvs macrumors 603

    solvs

    Joined:
    Jun 25, 2002
    Location:
    LaLaLand, CA
    #8
    It won't. It's all about the feel good legislation most people don't even want. All while our deficit continues to skyrocket. For a few hundred dollars that won't fix any of the problems we actually have.

    And I didn't even get one. :mad:
     
  8. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #9

    It might help. 300 for one person might not do much good but it might cause them to spent 200 extra and that adds up over a lot of people and might be enough to jump start everything rolling.

    I do not think it is going to that since most people will use it to pay down debt or save it.

    If I got a check (which I am not) most of it if not all of it would end up in my saving account as I already am doing about a 20-30% saving rate with out trying. I buy what I want to buy and do not try to save and I still have a 20%+ pre tax saving rate. This means before taxes are taken out I have 20%+ of my pay going into savings. If you want to figure it after taxes it somethingk like 30-40% of my take home pay ends up in savings.

    So if I got a check like that near 100% of it would go in savings because as it stands I have more money that I really know what do to with.

    Yes being a fresh college grad kind of screws up living. I used to scraping by and wondering if I will have enough to make it to the next month to I have a lot of money.
     
  9. solvs macrumors 603

    solvs

    Joined:
    Jun 25, 2002
    Location:
    LaLaLand, CA
    #10
  10. KingYaba macrumors 68040

    KingYaba

    Joined:
    Aug 7, 2005
    Location:
    Up the irons
    #11
    I filed a tax return back in March. Selected direct deposit. I have not seen that stimulus money deposited in my account. :mad: Yes, I make more than $3,000 a year :)

    They should come work in Texas.
     
  11. PlaceofDis macrumors Core

    Joined:
    Jan 6, 2004
    #12
    direct deposits were/are being handled first afaik, also its based off the last two digits of your SS #, i was pretty low so thats probably why mine showed up so early. also got a mail notification sent to me telling me it had been deposited
     
  12. hulugu macrumors 68000

    hulugu

    Joined:
    Aug 13, 2003
    Location:
    the faraway towns
    #13
    Yep. According to the IRS website, 00 through 20 is due May 2; 21 through 75 is due May 9; 76 through 99 is due May 16.

    Paper checks will follow May 16 through July 11.
     
  13. solvs macrumors 603

    solvs

    Joined:
    Jun 25, 2002
    Location:
    LaLaLand, CA
    #14
  14. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #15

    while the growth as weakend does not change the fact that it is still growing.

    Now I know from the news the economy is not doing well nation wide but here in Texas I do not notice it. Hell in Dallas it is one of the fast growing city job wise in the nation we are having a labor shortage.

    I look at it over an over all trend. If memory serves me right this is the time of year unemployment tends to jump quite a bit because a lot of new people are entering the work force and are looking for a job. College graduation is this month and right after they graduated a lot of new people are looking for jobs and by definition they are unemployed. Mix that with they are going to eat up a lot more jobs causing more people to collect unemployment.


    I will say it is a rough time for a lot of college grads depending on the feild. Engineers are in very short supply so I think any one with an engineering major is just not going to feel the pinch. They will have no trouble finding a job. Hell they still can pick about what ever they want because there are more jobs than there are people to fill them.
     
  15. solvs macrumors 603

    solvs

    Joined:
    Jun 25, 2002
    Location:
    LaLaLand, CA
    #16
    I know ;) that's why I posted the positives first, I was just responding to another poster saying they should all move to Texas, when I don't think you guys could handle that all of them.
     
  16. KingYaba macrumors 68040

    KingYaba

    Joined:
    Aug 7, 2005
    Location:
    Up the irons
    #17
  17. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #18
    Texas I believe has always tended to run on it own economic cycle seperate from the rest of the US.

    Back during clinton time when gas was cheap. Texas was having problems. It seems to go on a different cycle.

    At one point when I believe it was either Denver or Detroit was just down in the dumps. The Houston cronical was the best selling paper in those cities. At the time houston was booming and was in very short supply of workers.

    Texas just is a different state that runs on it own.
     

Share This Page