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Old Today, 10:28 AM
 
Location: Raleigh
8,442 posts, read 6,319,592 times
Reputation: 11786

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Quote:
Originally Posted by ny789987 View Post
But that is not how it works. From the way she described it to me, she only has to pay a percentage of her income. Since she isnít working right now, her payments are basically 0 and the government is going to be on the hook for funding part of her lifestyle (hundreds of thousands of $ís) over the past decade. If she gets married, plays housewife, and files separately, she will never have to pay anything. Interesting strategy. Have the government subsidize your single non-working Sex and the City life when you are in your 20ís and then marry into the money and leave the Chinese and federal treasury with the tab.
There are an awful lot of "what-if's" involved in that, way too many things that have to go right.

One; her parents have to put up with her. If they pass away, hope there are no siblings that are tired of her ish ready to sell the house.

Two: finding that husband, not always a sure thing

Three: Long term, if the above doesn't work out, she'll have to pay the piper eventually...
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Old Today, 11:10 AM
 
Location: Southern Most New Jersey
1,172 posts, read 850,453 times
Reputation: 1936
She should run for political office and become a congresswoman..
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Old Today, 11:21 AM
 
Location: Norfolk, VA
6,453 posts, read 6,111,356 times
Reputation: 3630
Quote:
Originally Posted by ny789987 View Post
But that is not how it works. From the way she described it to me, she only has to pay a percentage of her income. Since she isnít working right now, her payments are basically 0 and the government is going to be on the hook for funding part of her lifestyle (hundreds of thousands of $ís) over the past decade. If she gets married, plays housewife, and files separately, she will never have to pay anything. Interesting strategy. Have the government subsidize your single non-working Sex and the City life when you are in your 20ís and then marry into the money and leave the Chinese and federal treasury with the tab.
Ok
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Old Today, 12:15 PM
 
Location: SW Florida
10,631 posts, read 5,028,069 times
Reputation: 22251
OP - is this a "friend", an acquaintance or maybe even the friend of a friend? Are you concerned for her or just a little bit envious??
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Old Today, 12:28 PM
 
Location: Tennessee
24,162 posts, read 17,979,981 times
Reputation: 28366
This was sort of common until maybe 2013/2014. Things started picking up then, and if you couldn't find something, it was largely on you.
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Old Today, 12:34 PM
 
Location: Southern New Hampshire
7,323 posts, read 12,836,537 times
Reputation: 22419
Quote:
Originally Posted by ny789987 View Post
But that is not how it works. From the way she described it to me, she only has to pay a percentage of her income. Since she isnít working right now, her payments are basically 0 and the government is going to be on the hook for funding part of her lifestyle (hundreds of thousands of $ís) over the past decade. If she gets married, plays housewife, and files separately, she will never have to pay anything. Interesting strategy. Have the government subsidize your single non-working Sex and the City life when you are in your 20ís and then marry into the money and leave the Chinese and federal treasury with the tab.
Um, no. Under current rules at least, at some point the government will come calling -- and it might be when they garnish her SS check (which has happened and frankly I didn't see a darn thing wrong with it). If she is in an "income contingent" repayment plan, some of her interest is simply being deferred -- it's not being canceled.

And I seriously doubt that it was "hundreds of thousands of dollars" unless she went to some diploma mill (and actually, how would you know, anyway? Do you and your friends sit around and talk about exactly how much debt you're in? ).

It will catch up to her eventually, as it should.
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Old Today, 12:45 PM
 
23 posts
Reputation: 16
I haven't worked in 3 years and i don't care. I've been raising kids. I don't plan on working for another 4. I was on Gov assistance when working though because it just didn't pay enough.
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Old Today, 01:18 PM
 
Location: Oregon, formerly Texas
5,489 posts, read 3,823,487 times
Reputation: 9327
For the record, the Sex and the City characters were all 30-somethings (or 40-something in the case of Kim Cattral's character) who had successful careers. Much of the show is about balancing their career lives with their personal lives.

They were well out of college.

The person described in the OP, by definition, does NOT live a "Sex and the City" lifestyle. While they would date rich men for the luxury, none of the characters in the show depended on men for their basic living costs. In fact there are episodes where they chose career over relationships and much is made over their maintinance of their careers. Someone without a career is not playing out SATC.
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Old Today, 01:32 PM
 
Location: Northern Appalachia
5,230 posts, read 6,442,985 times
Reputation: 6147
Quote:
Originally Posted by ny789987 View Post
She lost her job in 2009 and lived off 2 years of unemployment. She lived at home and traveled a lot with that. After that, she earned two graduate degrees. She know has a lot of student debt, but she doesn’t pay much because she is on some sort of income contingent plan. She has benefited from free living with her parents and various boyfriends, but most of her income has come from the US government in the form of unemployment and government loans.
I think your post is somewhat of an exaggeration. No state has had unemployment benefits that lasted two years. The current max is 26 weeks and it has never been longer than 73 weeks in any state, and many states were a lot less. I can't imagine being able to afford much traveling on unemployment benefits, even for someone living at home without rent or a mortgage payment.

There are many people who continue to live with their parents for one reason or another. My wife has two cousins who never married and live with their widowed mothers. Both are nearing retirement age. The one is now the primary caregiver to his mother.

Anyone who is living off of loans and deferring payment will eventually have to pay their debt or not live long enough to pay it off. She was entitled to the unemployment benefits or she wouldn't have received them. The government loans are not income since they will have to be repaid. She chose to go to graduate school and I'm sure the loans did not cover much beyond her school expenses.

Are you jealous of her lifestyle?

Quote:
Originally Posted by ny789987 View Post
I am not passing value judgements here, this is an Economics forum. I am just noting that this whole individual’s lifestyle has been funded by Chinese debt over the past few years. Things will get interesting.
Chinese debt? Where did you come up with this? The government gavve her loans to go to graduate school. Millions of people borrow money for their education. Did she earn her degrees?

Quote:
Originally Posted by ny789987 View Post
But that is not how it works. From the way she described it to me, she only has to pay a percentage of her income. Since she isn’t working right now, her payments are basically 0 and the government is going to be on the hook for funding part of her lifestyle (hundreds of thousands of $’s) over the past decade. If she gets married, plays housewife, and files separately, she will never have to pay anything. Interesting strategy. Have the government subsidize your single non-working Sex and the City life when you are in your 20’s and then marry into the money and leave the Chinese and federal treasury with the tab.
Getting married will not make the loans go away. Bankruptcy will not make them go away. Even death does not necessarily make them go away.
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Old Today, 02:29 PM
 
Location: Cole Valley, CA
295 posts, read 124,447 times
Reputation: 582
I have a similar male friend (and a few acquaintances in similar situations).

He was working as a full time accountant for 12 years, and then was laid off in 2008 with a compensation package. He used the time right after getting laid off for travel and vacation. Nothing very fancy, and I understood why he was doing it. With a typical US position only offering 2-3 weeks of paid vacation, why not enjoy a thing or two that you won't be able to do once you're back at work.

Anyways, he also applied for unemployment. And then after that, an extension was offered for unemployment due to the downturn. He took that as well and did not seem to be looking too hard for a new position.

Long story short, I think he got so accustomed to the oceans of free time that he just couldn't get into the cadence of a 40 hour workweek again. He tried a few contracting positions over the last several years but has not been able to hold down anything.

I think this profile describes a whole class of Americans nowadays. We've made it relatively easy to get by without working much.
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