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Old Yesterday, 02:57 PM
 
Location: Alexandria, VA, USA
953 posts, read 549,646 times
Reputation: 2206

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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.
The system is not doing her any favors, nor are her parents, and most of all, she is irresponsible. She should be looking for any kind of a job to get some skin in the game...
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Old Yesterday, 03:10 PM
 
10,504 posts, read 12,468,427 times
Reputation: 14662
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 doesnít 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.
So what 2 graduate degrees did you get?
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Old Yesterday, 03:13 PM
 
Location: Oregon, formerly Texas
5,491 posts, read 3,824,837 times
Reputation: 9332
How are these alleged people surviving without income?

STUDENT LOANS ARE NOT WELFARE! You have to pay them back with interest. I made the mistake while I was in college of taking out more loans than I needed, because at the time I thought, "hey they are offering me this money, I can use it to do [whatever]." I took out probably $7k more than I needed to over my college years. I ended paying about $9k for use of that $7k while in college.

I had to pay it back with interest. Student loans do not go away in bankruptcy, hardship, anything. They will only delay them. They'll garnish your social security after age 65-67 to get the money back. Only in death do student loans go away.

No, a PERSON is subsidizing them - the spouse/partner or the parents.
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Old Yesterday, 03:30 PM
 
10,504 posts, read 12,468,427 times
Reputation: 14662
Quote:
Originally Posted by redguard57 View Post
How are these alleged people surviving without income?

STUDENT LOANS ARE NOT WELFARE! You have to pay them back with interest. I made the mistake while I was in college of taking out more loans than I needed, because at the time I thought, "hey they are offering me this money, I can use it to do [whatever]." I took out probably $7k more than I needed to over my college years. I ended paying about $9k for use of that $7k while in college.

I had to pay it back with interest. Student loans do not go away in bankruptcy, hardship, anything. They will only delay them. They'll garnish your social security after age 65-67 to get the money back. Only in death do student loans go away.

No, a PERSON is subsidizing them - the spouse/partner or the parents.
There was a post on CD a few days ago about a professional couple that got 800K deep AND the guy wanted to go on to dental school despite failing the entrance exam.

Some people game the system better than others. I had a kid working for me that borrowed 20K (he needed a couple thousand but took all he could get). Payback $138 a month for 30 years = almost 50k! He isn't using the degree AND has not made a single extra payment.

School isn't for everyone folks...........the fantasy of the degree and the 100K instant job is not one in the same!
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Old Yesterday, 03:37 PM
 
Location: Oregon, formerly Texas
5,491 posts, read 3,824,837 times
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Quote:
Originally Posted by City Guy997S View Post
There was a post on CD a few days ago about a professional couple that got 800K deep AND the guy wanted to go on to dental school despite failing the entrance exam.

Some people game the system better than others. I had a kid working for me that borrowed 20K (he needed a couple thousand but took all he could get). Payback $138 a month for 30 years = almost 50k! He isn't using the degree AND has not made a single extra payment.

School isn't for everyone folks...........the fantasy of the degree and the 100K instant job is not one in the same!
I know, I remember when I realized how much I would pay on my student loans over time. I was like "oh HELL no!" I asked for the payments to be as low as possible at first, & focused on paying off my car first because those payments were not negotiable, basically doubled the payment to get it done as quickly as possible. Ironically while in college I had used the extra student loans I took out to put a down payment on that car. Stupid me. All told I paid about $32k for a $24k car when you count both student loan and car loan interest.

Then I put all of that toward the student loans on top of my minimum payment. Basically $1000 a month. Got them paid off in right at 3 years (I had borrowed $36K).

Luckily for me, I directly use the degrees so they were a good investment, I made my investment back in 1.5 years of my "career" job.
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Old Yesterday, 03:37 PM
 
2,578 posts, read 669,842 times
Reputation: 4510
Quote:
Originally Posted by karen_in_nh_2012 View Post
Um, no. Under current rules at least...

Each of the major candidates for the Democratic Party nomination for President has, as part of their platform, some form of student loan forgiveness (e.g., giveaway) program.
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Old Yesterday, 03:48 PM
 
Location: Oregon, formerly Texas
5,491 posts, read 3,824,837 times
Reputation: 9332
Quote:
Originally Posted by RationalExpectations View Post
Each of the major candidates for the Democratic Party nomination for President has, as part of their platform, some form of student loan forgiveness (e.g., giveaway) program.
Given how much college costs have risen recently, there's good reason for it. My own alma mater is well over double, pushing triple, what it cost for me to go in the 2000s. And I thought it was bad then.


So I'd be okay with some kind of plan that forgives the loans. Macroeconomically it would help the economy because those people would have more money to spend on goods and services instead of giving it to a bank contracted by the government.

Some people are butthurt because they paid for their own college loans.... well I did too, but as I said it was cheaper then. Students today doing the same thing as I did would pay MORE THAN DOUBLE than I did, AFTER adjusting for inflation. And the college has gotten no better. It's exactly in the rankings where it was 15 years ago. In fact my old department has the same faculty it did when I was there 15 years ago, except they replaced a couple retirements. Students are getting hosed, it's not acceptable, and we need to know why.

Any kind of tuition-free or student loan forgiveness needs to be coupled with the mother of all audits of college & university finances. I want those institutions given an enema to see what the hell they're doing with their money and why their costs have gone up so much recently.
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Old Yesterday, 04:20 PM
 
Location: California
981 posts, read 269,482 times
Reputation: 2784
Quote:
Originally Posted by LilLisa83 View Post
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.
Good for you! Way too many people live to work in this society. I support myself but try to live very frugally so I can work as little as possible. Free time is so much more important. We're all going to die one day and won't be able to take our money with us. It's experiences that matter and spending time with your kids is the most valuable.
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Old Yesterday, 04:49 PM
 
9,696 posts, read 6,416,910 times
Reputation: 18386
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 doesnít 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.

An unemployed freeloader in a booming economy, wow!!!!!!!
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Old Yesterday, 04:51 PM
 
9,696 posts, read 6,416,910 times
Reputation: 18386
Quote:
Originally Posted by LilLisa83 View Post
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.



Are you oh Govt Assistance now?
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