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Old 03-26-2024, 07:02 AM
 
Location: Phoenix
30,352 posts, read 19,128,594 times
Reputation: 26228

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Quote:
Originally Posted by Wartrace View Post
Spring break doesn't pay for itself......
LOL, true.

I borrowed on a student loan when I got my Doctorate degree but obsessed and paid it off within 2 years of graduation I think, what a fool I was to pay it back right?
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Old 03-26-2024, 07:50 AM
 
Location: Annandale, VA
6,963 posts, read 2,696,549 times
Reputation: 7137
Quote:
Originally Posted by Tall Traveler View Post
People have been abusing and living a fake lifestyle off student loans for decades.
My wife told me stories of her classmates at GMU bragging about spending their loan money on luxury handbags and plastic surgery.
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Old 03-26-2024, 08:28 AM
 
23,968 posts, read 15,063,270 times
Reputation: 12937
Making student loans federally guaranteed was a big mistake. Was that Obama?

That needs to be rescinded yesterday.

One of my kids went to an expensive private university mostly on grants, no loans. But her senior year the school cut it in half. We had to come up with the cash.

She also got a loan. That money went to the school not her bank account. What happened to that?

She paid it off her first year of teaching.
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Old 03-26-2024, 08:37 AM
 
Location: NC
5,451 posts, read 6,033,033 times
Reputation: 9268
Quote:
Originally Posted by crone View Post
Making student loans federally guaranteed was a big mistake. Was that Obama?

That needs to be rescinded yesterday.

One of my kids went to an expensive private university mostly on grants, no loans. But her senior year the school cut it in half. We had to come up with the cash.

She also got a loan. That money went to the school not her bank account. What happened to that?

She paid it off her first year of teaching.
Not on a teacher's salary she didn't!!! LOL
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Old 03-26-2024, 08:42 AM
 
Location: Knoxville, TN
11,402 posts, read 5,960,793 times
Reputation: 22361
Quote:
Originally Posted by Annandale_Man View Post
My wife told me stories of her classmates at GMU bragging about spending their loan money on luxury handbags and plastic surgery.
Back in the 1980s, my college roomate had a friend at our school who used part of her student loan money to fill her closet with expensive dresses and other clothing that she only wore once. Students have always abused student loan money far beyond the "needs" of attending college. It is not new. It is just far worse today.

I had a student loan. All of it went directly to tuition and books. Today, students buy cars and pay their rent with student loan money. No wonder some end up in hock for 30 years.

The abuse documented in the OP's story is horrific on steroids, but hardly surprising.
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Old 03-26-2024, 10:54 AM
 
Location: East Coast of the United States
27,544 posts, read 28,630,498 times
Reputation: 25111
Quote:
Originally Posted by Tall Traveler View Post
People have been abusing and living a fake lifestyle off student loans for decades.
Why do I get the feeling that is the norm rather than the exception?
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Old 03-26-2024, 10:56 AM
 
Location: NMB, SC
43,054 posts, read 18,223,725 times
Reputation: 34928
Quote:
Originally Posted by crone View Post
Making student loans federally guaranteed was a big mistake. Was that Obama?

That needs to be rescinded yesterday.

One of my kids went to an expensive private university mostly on grants, no loans. But her senior year the school cut it in half. We had to come up with the cash.

She also got a loan. That money went to the school not her bank account. What happened to that?

She paid it off her first year of teaching.
Worse than federally guaranteed...Obama nationalized them just like health insurance.
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Old 03-26-2024, 11:01 AM
 
1,051 posts, read 796,636 times
Reputation: 1857
Quote:
Originally Posted by crone View Post
Making student loans federally guaranteed was a big mistake. Was that Obama?

That needs to be rescinded yesterday.

One of my kids went to an expensive private university mostly on grants, no loans. But her senior year the school cut it in half. We had to come up with the cash.

She also got a loan. That money went to the school not her bank account. What happened to that?

She paid it off her first year of teaching.
Yes! It was Obama. And remember how it was going to save us sooooo much money that we could use it to finance Obamacare. Obama was a total crook!
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Old 03-26-2024, 11:06 AM
 
Location: SoCal/PHX/HHI
4,135 posts, read 2,835,330 times
Reputation: 2884
Quote:
Originally Posted by MendoMan View Post
900K???

Impossible.

Undergraduate lifetime loan limits is $57,500.

Graduate & Professional level education the lifetime max is $138,500.


You can get private student loans in addition to the Federal loans but those are not eligible for the PSLF program.
Interesting, I was not aware of this (the bolded). It makes one wonder where the other money came from and their interest rates on loans.
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Old 03-26-2024, 11:08 AM
 
Location: Texas
1,411 posts, read 1,000,575 times
Reputation: 1561
Quote:
Originally Posted by getatag View Post
Not on a teacher's salary she didn't!!! LOL
She lived at home and didn't have any bills. He left out that part.
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