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Old 06-11-2015, 07:16 PM
 
26,148 posts, read 21,376,020 times
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Quote:
Originally Posted by freemkt View Post
I'm talking about $7.50/hr ($15K) burger flippers who pay ZERO under IBR.

I'd be upset my tax dollars went to such a wasteful cause
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Old 06-11-2015, 07:20 PM
 
Location: California side of the Sierras
11,162 posts, read 7,589,300 times
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Quote:
Originally Posted by Lowexpectations View Post
I'd be upset my tax dollars went to such a wasteful cause
Well, you have the same option. Go borrow money for school, graduate, then take a minimum wage job to avoid repaying the loans.
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Old 06-11-2015, 07:30 PM
 
26,148 posts, read 21,376,020 times
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Quote:
Originally Posted by Petunia 100 View Post
Well, you have the same option. Go borrow money for school, graduate, then take a minimum wage job to avoid repaying the loans.


That would be a waste in the exact same context. Why anyone would choose that is beyond me IBR or not
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Old 06-11-2015, 07:37 PM
 
Location: California side of the Sierras
11,162 posts, read 7,589,300 times
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Quote:
Originally Posted by Lowexpectations View Post
That would be a waste in the exact same context. Why anyone would choose that is beyond me IBR or not
Exactly.

Of those who find themselves in that situation, I don't doubt the vast majority will not be in that situation for long.
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Old 06-11-2015, 07:49 PM
 
10,075 posts, read 7,473,353 times
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why do people whine about terms they agreed to?

Loan percents? So what if someone has a lower amount, you don't, you agreed to what you got, and knew what you were getting... and took the loan anyways.

Same with paychecks, people agree to the job knowing what it paid, and then complain they don't get paid enough if a coworker gets more? Then learn to negotiate better next time
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Old 06-11-2015, 08:01 PM
 
Location: Vallejo
21,649 posts, read 24,781,820 times
Reputation: 18871
Quote:
Originally Posted by freemkt View Post
Apparently I had first mover disadvantage; the borrowers with the low interest rates borrowed after I did, hence changing the rules in the middle of the game.
Not really, you could have consolidated at lower rates when they were available like I did.
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Old 06-11-2015, 08:36 PM
 
33,016 posts, read 27,313,533 times
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Quote:
Originally Posted by Malloric View Post
Not really, you could have consolidated at lower rates when they were available like I did.

Consolidation is not available on loans in default.
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Old 06-11-2015, 08:39 PM
 
26,148 posts, read 21,376,020 times
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Quote:
Originally Posted by freemkt View Post
Consolidation is not available on loans in default.
I think you just realized why you are where you are vs other people. Congrats
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Old 06-11-2015, 08:39 PM
 
33,016 posts, read 27,313,533 times
Reputation: 9074
Quote:
Originally Posted by eyeb View Post
why do people whine about terms they agreed to?

Loan percents? So what if someone has a lower amount, you don't, you agreed to what you got, and knew what you were getting... and took the loan anyways.

Same with paychecks, people agree to the job knowing what it paid, and then complain they don't get paid enough if a coworker gets more? Then learn to negotiate better next time

And you also expected you were getting a decent job that would cover the loan payments and plenty more.

The borrowers complaining are those who got the expected downside without the expected upside.
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Old 06-11-2015, 08:40 PM
 
33,016 posts, read 27,313,533 times
Reputation: 9074
Quote:
Originally Posted by Lowexpectations View Post
I think you just realized why you are where you are vs other people. Congrats

shrug. the IBR freeloaders were given an option not available to me when I defaulted.

I'd love to know the logic that says I can afford to pay 10% of my income toward my student loans, but the IBR borrower with greater income cannot afford to pay one cent.
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