...so when does the student loan crisis hit?
- Thread starter BurlyShirley
- Start date
High five.
*bewildered shrug*
Sound more like a way to relegate their reputation to junk status.
One of the biggest reasons I have not gone back to school is because I don't want to end up in this situation, ie, drowning in debt with no real plan.
I know school is important and I would like to get a degree, just no idea in what. I don't think its wise to pursue until I know. I have friends who got good jobs in their chosen field out of school, they are still swamped with their loans.
I know school is important and I would like to get a degree, just no idea in what. I don't think its wise to pursue until I know. I have friends who got good jobs in their chosen field out of school, they are still swamped with their loans.
If you can stand the smell of old people, a pharmacy or nursing degree would be worth your time, no doubt. You might even get most of the school paid for.
Look for a profession that pays well and that you think you'll like. When I was choosing my field it was between Mechanical and Software Engineering, so I went and hunted down who made more...easy decision.
Yeah, but nursing you get to deal with all the old fvcks on socialized medicine complaining about how entitlements to the darkies are ruining the country.
I get that when I go to my parent's for dinner, I don't see the difference...haha.
Nursing isn't for me though.
and to add to that: if you have a clearance, you won't be outsourced.
you will, however, compete w/ 5X as many people/position who also have a clearance & now will work for 60% of market rate just to stay in their house, so there's that.
it also softens the blow for stay-at-home moms that their "degree" will be wasted
Bump. I read the following article and it made me think of this thread.
I think I've changed my mind. If your upside down,****it, just walk away. Pocket the money you'd otherwise be paying on the mortgage. Its gonna take at least 6 months now for the foreclosure process to even begin to kick in. You would get an easy 12-18 months rent free. Dante was right, fvck em.
I think I've changed my mind. If your upside down,****it, just walk away. Pocket the money you'd otherwise be paying on the mortgage. Its gonna take at least 6 months now for the foreclosure process to even begin to kick in. You would get an easy 12-18 months rent free. Dante was right, fvck em.
Interesting article.
I got the Home Loan Mod. I'm a bit ashamed of it, although I'm not sure why. I went through what they did with Wells Fargo, although mine was successful. I will tell you, it was one of the most stressful ordeals I've ever gone through. They do not make it easy for you, in fact, they TRY to make you fail, miss a document, something, anything they can do to get you to default so they can cancel the program. And the whole time they threaten you with the fact that if you miss ANYTHING, game over and you owe 3 months of mortgage payments PLUS late fees, etc.
There were quite a few times I thought "fyck it". But I've never missed a loan payment, ever in 6 years.
coming to the end of our divorce, I'm this close to not being able to make the mortgage payment this month. I and we haven't missed or been late on one since we bought in 2006. It's only been a little over four years but never missed yet. We have the smallest most modest house but still cant make it work on one income. All homes are over priced. Every single one of them. From the ratty half double to the big developments. They should all be worth only half what they are. I know, easier said than done. When do you say ***k it?!?!
Well, I certainly applaud you both for doing the right thing. Good on ya for taking the high road, because thats what it is. The point Ive been making all this time is that I found it reprehensible that others were not doing what you guys have done. I found it morally revolting that people who could make payments were not simply because they were upside down. And the whole time the stupid system has been rigged , either through malice or ignorance, against people who are trying to do what you guys are doing. All of it to the end of the banks sucking off the government tit and squeezing already stretched homeowners even more. It absolutely infuriates me that we bailed these fvcks out with taxpayer money only to have them turn around and screw with the honest homeowners who didnt go out and get interest-only-lairs-loans to purchase homes they couldnt afford. I guess the point of my last post was that I find that I can no longer cast stones of moral indignation at those who just pull chocks and leave. Honestly, if I didnt have equity in my house Im enraged enough by all this that Id probably quit paying on mine too. Two years of putting mortgage payments in the bank is a lot of cash. ****it.
Thanks, I appreciate that.Well, I certainly applaud you both for doing the right thing. Good on ya for taking the high road, because thats what it is. The point Ive been making all this time is that I found it reprehensible that others were not doing what you guys have done. I found it morally revolting that people who could make payments were not simply because they were upside down. And the whole time the stupid system has been rigged , either through malice or ignorance, against people who are trying to do what you guys are doing. All of it to the end of the banks sucking off the government tit and squeezing already stretched homeowners even more. It absolutely infuriates me that we bailed these fvcks out with taxpayer money only to have them turn around and screw with the honest homeowners who didnt go out and get interest-only-lairs-loans to purchase homes they couldnt afford. I guess the point of my last post was that I find that I can no longer cast stones of moral indignation at those who just pull chocks and leave. Honestly, if I didnt have equity in my house Im enraged enough by all this that Id probably quit paying on mine too. Two years of putting mortgage payments in the bank is a lot of cash. ****it.
I've read some of the articles you are posting...and I hear people around me saying the same thing - they drive a $50K SUV, bought a $500K house and make decent money...but they are "upside down" so they just stop paying. And they feel they are owed something.
In my case, it came down to either eating or making my mortgage payment. And I like to eat. I bought small and sub $100K before the boom. But my payments were still high, mostly because I'm young and didn't have much credit when I got the loan. Then my hours at work got cut. The bank had a very "not our problem" attitude about it, which really frustrated me because after 6 years of on-time payments, I would hope they would be a little more understanding. If the gov't wasn't forcing them to do the HAMP program, it wouldn't happen.
If they hadn't granted me the modification, I would have stopped paying. I honestly did not have much choice at the time, the money wasn't there.
#More1stWorldFvckingProblems
Fvcking college graduates.
Fvcking college graduates.
I'll benefit from this plan, that's who. Well, at least I'll benefit from it if I start repaying my loans before I finish fellowship in 2014. After that point then income based repayment won't save me any money because I'll have non-negligible income.
That's what you get for choosing a degree that has earning potential. Should have majored in Women's Studies.
That bill leaves me confused, that leads me to believe that it's working. So I'm probably not benefiting.
The discretionary income part throws me. Also, 20 years and then debt forgiveness? Is that debt forgiveness (increased credit) after 20 years should you default/declare bankruptcy or does that read after 20 years your loan balance is no longer your issue? Please tell me its not the latter.
Also, I see nothing in there that stops the freight train that is the bubble itself, the one that seems to be increasing its debt load by $100B/ year.
The discretionary income part throws me. Also, 20 years and then debt forgiveness? Is that debt forgiveness (increased credit) after 20 years should you default/declare bankruptcy or does that read after 20 years your loan balance is no longer your issue? Please tell me its not the latter.
Also, I see nothing in there that stops the freight train that is the bubble itself, the one that seems to be increasing its debt load by $100B/ year.
It's the latter. Pay 20 years worth of payments at whatever rate works out to be lowest for you (the 30 year fixed payment plan or the capped-at-10%-of-income income-based repayment plan) and then after said 20 years the loan is forgiven and is no longer your debt.
whose debt is it?
When I told my friends back in 2000 that "I Don't really worry much about my loan debt since the global financial system will collapse before I pay them off" I was pretty serious.
I'm definitely going to hit the forgiveness mark. I've already been in economic hardship forbearance for 7 years(thank god that's possible). My parents will likely die with negative equity in their home.
I know more than a handful of students who planned to rely on the death of their parents to make the leap into financial solvency. I've got to admit that I am one of them.
Macabre double whammy!
Luckily there is a life insurance policy on me that will cover the original loan balance, so my parents may yet to not die in the street as they see their medicare payments disappear just as they need them most. If I can't manage to keep my totally awesome Massachusetts universal healthcare to avert suicide or a staph infection.
Unfortunately I don't think I'll be able to stave off payments another 13 years.
I do have a hard time believing that the global economy will not get significantly worse before then though.
I'm pretty much a huge dirtbag.
Learning how to farm and hand sharpen knives is one of my top priorities these days.
I'm definitely going to hit the forgiveness mark. I've already been in economic hardship forbearance for 7 years(thank god that's possible). My parents will likely die with negative equity in their home.
I know more than a handful of students who planned to rely on the death of their parents to make the leap into financial solvency. I've got to admit that I am one of them.
Macabre double whammy!
Luckily there is a life insurance policy on me that will cover the original loan balance, so my parents may yet to not die in the street as they see their medicare payments disappear just as they need them most. If I can't manage to keep my totally awesome Massachusetts universal healthcare to avert suicide or a staph infection.
Unfortunately I don't think I'll be able to stave off payments another 13 years.
I do have a hard time believing that the global economy will not get significantly worse before then though.
I'm pretty much a huge dirtbag.
Learning how to farm and hand sharpen knives is one of my top priorities these days.
Last edited:
Uh, I think that it's 20 years of making payments. Forbearance doesn't count. You still have 20 years ahead of you. Congratulations.
Sounds like a fantastic opportunity to load myself up with student debt, go back to school and actually make something of myself. 1% here I come! 
It is time to restore the American precept that each individual is accountable for his actions. - Ronald Reagan
all that personal accountability and reagan still wound up a corpse. oops.
The return of Hello Kitty?
Isn't that one of the 7 signs?
Isn't that one of the 7 signs?
I think that the right-wing's obsession with Reagan is getting just a *little* unhealthy. I mean, if they could re-animate his corpse (Umbrella virus?) they would almost certainly run him as a candidate and he'd probably win the nomination as well.
Cooper: President Reagan, with the high unemployment numbers hindering the economic growth in this country, what do you propose to do to create jobs in this country?
Reagan: Braaaaaaaaaaaaaaaaaaaaaaaaiiiins......
(crowd goes wild)
"the brains will trickle down"
Except Reagan's too liberal to run under the banner of today's GOP. Fvck, Atillah the Hun is too liberal for today's GOP.
you are correct.
your parents must be proud
Not as proud as the GOP.
SD is exactly the type of person they want to stereotype the OWS crowd as.