Notices

Student Loans. WTF?

Old 01-13-2020, 07:27 PM
  #101  
Senior Member
 
Join Date: Apr 2012
Posts: 666
Received 794 Likes on 387 Posts
Default

He wasn’t an Air Force pilot, he wasn’t a pilot at all. That’s just a picture of him getting a ride in a Navy fighter. He took out loans to go to law school and decided he didn’t want to be a lawyer. How much are the taxpayers supposed to pay so he can enjoy life as a camping instructor?
Old 01-13-2020, 07:41 PM
  #102  
Member
 
Join Date: Jun 2011
Location: Lithia, Fl
Posts: 59
Received 15 Likes on 7 Posts
Default

Originally Posted by Misterfu02 View Post
Nobody held a gun to these kids’ heads and made them take out a six figure loan. Being poor results in getting MORE aid money - in most cases these kids can get a bachelor’s degree for free if their family makes under a certain amount per year.
Max Pell Grant is about $6k. Average in state public tuition is over $11k a year. A little more than free.
Old 01-13-2020, 07:55 PM
  #103  
Member
 
Join Date: Jun 2011
Location: Lithia, Fl
Posts: 59
Received 15 Likes on 7 Posts
Default

Originally Posted by Shag View Post
We have a winner! It used to be that they would pay tuition, books, and room and board directly. Now they can take the damned card and buy beer, eat out, whatever with it.
They are paid to the school first. Once the school has its debt settled (tuition, fees, campus housing, books) the remainder is sent to the student. The problem of course is that lenders are giving out far more than cost and students take out more than they should because the lender tells them they should because of other xyz expenses.
Old 01-13-2020, 08:05 PM
  #104  
Senior Member
 
Join Date: Apr 2009
Posts: 3,323
Received 534 Likes on 339 Posts
Default

Took me 12 years to pay mine
Old 01-13-2020, 10:58 PM
  #105  
Senior MemberCaptains Club Member
 
Join Date: Jan 2004
Location: Pittsburgh, Pennsyltucky
Posts: 7,301
Received 1,547 Likes on 715 Posts
Default

Someone please post the judge's address. I want to write to her and thank her now that i know I'll be getting refunded for the student loans I paid off in full and on time.
Old 01-13-2020, 11:36 PM
  #106  
Senior Member
 
Join Date: Mar 2016
Location: Adirondacks, NY
Posts: 731
Received 301 Likes on 181 Posts
Default

Originally Posted by 62Jet View Post
Max Pell Grant is about $6k. Average in state public tuition is over $11k a year. A little more than free.
NY has free in-state tuition.
Old 01-14-2020, 05:34 AM
  #107  
Senior Member
 
Join Date: Mar 2011
Location: Algonac michigan
Posts: 5,962
Received 1,022 Likes on 549 Posts
Default

Student loan debt can sometimes be erased by bankruptcy,but the rules covering that are pretty strict.Has to do with showing the repayment causing personal hardship outside of just not wanting to repay. Pretty small loophole.
Old 01-14-2020, 06:09 AM
  #108  
Senior Member
 
Join Date: Sep 2018
Location: Ft. Myers, Fl
Posts: 252
Received 1,422 Likes on 714 Posts
Default

I want to meet someone who got a JD or MD from any kind of school that is worth a chit simply on the GI Bill.

Old 01-14-2020, 06:19 AM
  #109  
Member
 
Join Date: Nov 2018
Location: Fly over country.
Posts: 59
Received 397 Likes on 189 Posts
Default

Originally Posted by misterfu02 View Post
chapter 7 bankruptcy is no picnic. He won’t be able to buy a house, car, etc. For many years to come and will even have trouble finding a decent apartment.

Also, since when are student loans bankruptable? There must be more to this story on such a slow news day.
Originally Posted by hammer79 View Post
yup definitely not forced. Just the fact that college is shoved down there throat from the time they are in kindergarten to 12th grade and the fact that decent paying jobs without a college degree are few and far between. Yea, i know there are good jobs for non college grads out there (i have one) but, there are not many. Sorry, i don't know any one that received there degree for free based on lack of income and i feel like i know some pretty poor people. Gender and race are a different story.
this
Old 01-14-2020, 06:25 AM
  #110  
Admirals Club Admiral's Club Member
 
Join Date: Jul 2009
Location: Raleigh NC
Posts: 1,296
Received 275 Likes on 165 Posts
Default

Originally Posted by raystein View Post
With these big student loans, I have always wondered how much of it went to necessary expenses, and how much went to things like an expensive apartment and eating out and drinking craft beer at the sports bar.

This 1000%......I went to college, I had some help from my parents, however not a ton. I chose to live at home with my parents and find a school I could commute to. I worked....a lot. I walked out of school with zero debt. I also did things like go to a community college the first two years. If people walk out of school with tons and tons of debt, that's dumb. If you are going to go to school and rack up a heavy six figure debt you better be coming out with something that will knock that debt down quickly, if not, I cant fully understand your plan. This is a crisis I don't understand at all.
Old 01-14-2020, 06:30 AM
  #111  
Admirals Club Admiral's Club Member
 
Join Date: Jul 2009
Location: Raleigh NC
Posts: 1,296
Received 275 Likes on 165 Posts
Default

Originally Posted by 62Jet View Post
Max Pell Grant is about $6k. Average in state public tuition is over $11k a year. A little more than free.
Tough deal buttercup. Community college isn't more than that. Get a 2 year degree, then save your money when you can afford to go to a 4 year school. Life isn't fair. I really really wanted a Contender, however I bought a Kencraft. I am sorry, college shouldn't be free and loan debt shouldn't be forgiven. Also if there is a will there is a way, I will argue with anyone who tells me they couldn't go to college in this country if they want it bad enough.
Old 01-15-2020, 03:04 PM
  #112  
Senior Member
 
Join Date: Oct 2006
Location: LBI NJ
Posts: 2,516
Received 759 Likes on 443 Posts
Default

Originally Posted by anonymous_coward View Post
I originate mortgages and what is so sad is that most of these kids aren't making squat in the fields in which they got their degrees. They all have to file for an IBR (Income Based Repayment) which affords them a very low monthly payment but the interest just keeps racking up.

Case in point is this poor sap who took out $224,220 in student loans, got a sorry job paying $45k a year and had to go IBR ($95 per month payment). In the 13 months that the loan has been active, she owes $234,357 due to the payment not even covering the interest on the loan.
I couldn't agree more. Which is why I saved an arm and a leg to put my kids thru college. AND I don't want to spend a dime to finance someone else's kids who made a conscious decision to not save.

1. WTF happened to her parents?
2. My case in point re economics. SOMEONE should have sat her down and discussed cost benefit analysis of her college choice decision. Finding a state school for 25K a yr or less is the only viable option. Springing 55-60 a yr is just brutal.

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.