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So in the end, it's the compound interest that has you up the creek. Right?
Believe me, I am not heartless about student debt, just sick of the whining I hear from folks about a legally incurred debt.
Hubby and I are still paying off student debt in retirement. We owe it; we will pay it off.
What we were able to do is make sure that even in the lean years (underemployment) we paid all interest so it wouldn't accrue as part of the balance.
We had a guy running for political office in Charlotte who put his tuition on several credit cards (for law school) and then reneged on the payments, and eventually declared bankruptcy. I thought - that was the most creative way I have ever seen someone get college debt dismissed. Seemed fraudulent to me.
Of course, that was when credit cards were being given out like candy and before the bankruptcy laws changed.
??? I went to a fairly cheap state college; only one of the colleges I got into was cheaper (not as good academically and not much cheaper). Cost was a primary consideration for me.
The costs of any four year school might not equal value in the job market. A more expensive school may have high value and a less expensive school minimal value for the same major. It is very difficult for modern educators to give you a reality check on your plans for to do so might result in negative consequences for them.
??? Millions of failed business startups disagree with you. But yes, starting a business is generally a great idea; I'm working on that and have $10K of inventory on hand, but crappy cash flow in my dysfunctional living environment - I'm paying to store my inventory because my living space consists of a single room plus the time and hassle of moving it around.
And yes, government has decreed that I am forbidden to own a hone that I currently can afford.
see "accessory dwelling unit" and "cannot be segregated in ownership"
Please be honest with us. What is the nature of this business? Is it Herbal Life or a similar at home business?
The unintended result of this is that skilled trades are coming up on a shortage as the traditional craftsmen (Carpenters, plumbers, electricians, stonemasons and the like) are aging out and there's no one apprenticing to replace them.
Yep. In Europe, "trade school" is a very viable option and in many countries, students get on an educational track while in high school that leads to certifications and licenses in specialized fields. We are seeing some of this across the country. It takes leadership and vision at the K-12 level to put such programs in place. Instead, we mandate "teaching methodology" at the federal level and tie that to tax dollars.
Many of the "back to work" programs here in NC are focusing on tech education and courses meant to lead to certifications and licenses, i.e. HVAC repair, masonry, etc.
So in the end, it's the compound interest that has you up the creek. Right?
Believe me, I am not heartless about student debt, just sick of the whining I hear from folks about a legally incurred debt.
Hubby and I are still paying off student debt in retirement. We owe it; we will pay it off.
What we were able to do is make sure that even in the lean years (underemployment) we paid all interest so it wouldn't accrue as part of the balance.
We had a guy running for political office in Charlotte who put his tuition on several credit cards (for law school) and then reneged on the payments, and eventually declared bankruptcy. I thought - that was the most creative way I have ever seen someone get college debt dismissed. Seemed fraudulent to me.
Of course, that was when credit cards were being given out like candy and before the bankruptcy laws changed.
Not the interest, my problem is entirely with the fees. The principal and interest have been paid off, my balance consists of accrued fees and their interest.
Yes, there are very many ways to game student loans. I know someone who used student loans to buy rental properties (two years apart) and then used the rental income to make the loan payments.
Note that the student loan borrowers complaining are generally not the ones who gamed the program for things like buying rental properties.
Please be honest with us. What is the nature of this business? Is it Herbal Life or a similar at home business?
Ha, I buy stuff (e.g. comics, magazines, lots of misc) and resell. eBay has created a vast and global market for stuff that previously was both hard to find and hard to sell. Online you need only two buyers anywhere to start a bidding war. Originally tried with coins but couldn't buy cheap enough to make money after selling fees.
I could never succeed in MLM because I can't sell FTF. But many people can sell from behind a keyboard.
Define "irresponsible spending". I'm part of the 31% and the most I've earned in a year is $17K.
Why was $17k your ceiling? (Serious question. Not meant to be snarky.)
Quote:
Originally Posted by Joliefille
I would also submit that many minimum wage earners have suffered through things like undiagnosed learning disabilities, PTSD, domestic violence etc. We are too quick to point an accusing finger at those whose struggles we dont see or understand.
Compassion seems to be a lost art.
We all have our problems, yet a lot of people manage to overcome them. One thing I've been reading is a lot of people are more kids out of wedlock these days when they aren't in a position to afford them to start with.
Ha, I buy stuff (e.g. comics, magazines, lots of misc) and resell. eBay has created a vast and global market for stuff that previously was both hard to find and hard to sell. Online you need only two buyers anywhere to start a bidding war. Originally tried with coins but couldn't buy cheap enough to make money after selling fees.
I could never succeed in MLM because I can't sell FTF. But many people can sell from behind a keyboard.
I know a person who is now a mid level professional comedian. Early in his career he collected action figurines and sold them on EBay. He was living at home in his parents basement and had thousands on thousands of dollars worth. The key was it was a big basement with a ton of storage space. He was well connected and had a network of friends to help him buy. He had lady friends to help him package and sell. He still has a very large unsold collection but he had the resources to buy, sell and distribute. He also bought multiple game consoles when first released and sold them.
Yep. In Europe, "trade school" is a very viable option and in many countries, students get on an educational track while in high school that leads to certifications and licenses in specialized fields. We are seeing some of this across the country. It takes leadership and vision at the K-12 level to put such programs in place. Instead, we mandate "teaching methodology" at the federal level and tie that to tax dollars.
Many of the "back to work" programs here in NC are focusing on tech education and courses meant to lead to certifications and licenses, i.e. HVAC repair, masonry, etc.
here in Georgia we are starting to realize there is a skills gap to support the Film industry we have been cultivating. Se we are starting to see vocational training in construction and electric, primarily. Masonry too.
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