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I put my resume out over a month ago and I've gotten a good hundred emails. I'm still getting them, got 2 today. Good jobs too, ranging everywhere from 50-90k. I have no college degree and no more than a year of full time work experience.
Yes it's true, student loan defaulters are very profitable to the government.
Of course they are, because they got you by the balls. You'll do anything to avoid default, because really you're not allowed to default. Government servitude? No problem, just stop harassing me and write it off!
I think that in debates like this one, the truth is somewhere in between both sides. I think that some people probably do feel more secure on unemployment and are not motivated to seek out jobs, but it's not that simple. As one poster pointed out earlier, age might make a candidate less attractive. Simply being unemployed for more than six months in a given field might make someone less attractive. I've never collected unemployment but I've needed help from family when my chips were down, which is basically the same thing. I'm sure that some are taking advantage of the system, but I doubt that most people are simply bottom feeders. People usually feel far better about themselves when they're out and supporting themselves. At any rate, it's impossible to know what someone's circumstances are unless you've spoken to them directly.
all that you owe. Why does that concept escape the left? Pay ya damn bills.
Sure, I'd be almoist paid off if the government hadn't taken THOUSANDS out of my payments for "fees".
Shouldn't other borrowers also pay an equal share of their poverty level incomes? Under IBR people can actually live above the poverty level and have zero monthly payments.
Also, the inability to get affordable payments has cost me many thousands of dollars in higher living costs - at one point I was stuck paying 73 percent of my income for rent, because I was unable to save up any money to move to a cheaper place.
So I've been paying way more than I should be paying.
Yes, I am one of those evil student loan defaulters Reagan warnned ypu about. I had a stretch of five rent increases in five years...cut back spending every time and defaulted after the fourth rent increase.
I am currently paying almost 10 percent of my poverty level income on my student loan, but that is not sufficient to get my loan out of default (that would take a payment twice as large).
There are repayment programs (IBR) under which my "affordable and reasonable" monthly payment would be zero or (ICR) under $25, but those are not available for loans in default.
In the meantime, the government skims off a cool 20% of my payment as a fee, which means that after applying most of my payment to interest, very little if going toward reducing the principal. They have skimmed off afew thousands dollars in fees, and my loan would be nearly retired if that money had been applied toward the balance.
A recent calculation suggests that at my current monthly payment, it will take 41 years to retire the loan.
Until either income or expenses improve, it's very unlikely I will be able to get my loan out of default.
They want student loan borrowers to default because they rake in millions of dollars from defaulters and make more money in the long run.
I stopped reading this post after I first read the words "and defaulted". That's all I needed to see. The backstory doesn't interest me. Nor does what I'm absolutely positive is a mini-rant about how it's not your fault and someone is screwing you over. Cause personal responsibility is a 4 letter word to people like you. Like I said, you reap what you sow.
Of course they are, because they got you by the balls. You'll do anything to avoid default, because really you're not allowed to default. Government servitude? No problem, just stop harassing me and write it off!
And those living on poverty level incomes and unable to pay it off in a lump sum become slaves for life, or until they pay it off including THOUSANDS in piling-on fees.
They want student loan borrowers to default because they rake in millions of dollars from defaulters and make more money in the long run.
They don't want loan borrowers to default, but they want to make an example of them when they do, and what you're doing is exactly what they want you to do. They want you to go onto the internet and tell everyone who will read what happens when you default on your loan.
I'm still sympathetic to your situation, though, and hope you work it out. What line of work are you in?
I stopped reading this post after I first read the words "and defaulted". That's all I needed to see. The backstory doesn't interest me. Like I said, you reap what you sow.
Can I call it or can I call it?
Yes you can be an ahole if you'd like. There, I called it.
How much of a poverty level income would you like me to pay monthly? Is 10 percent not enough for you?
And why aren't you complaining about borrowers who have higher incomes yet are required to pay ZERO per month?
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