Student loan payments are starting up again soon

Heinz

Parteizeit
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but are you happy where you are?
Honestly yes. I think it has a lot to do with living below my means in all respects though. Someone in my shoes who wants shiny new things, huge property, new car etc would find it difficult and debt would certainly be a persistent thing in their life.
 

radiantsvgun

They call him Mr. Windy
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0 debt from college here. It was a struggle to get it done, and I realize a lot aren't as lucky. Right now, only debt I have is the mortgage.

I also remember seeing tons line up outside to get that financial aid, cashing the checks and then dropping out, rinse and repeat.

I've got mixed feelings about it since a lot of people got in over their head chasing a dream or a lie told to them by their parents, but there is also a lot that were just there running up that debt and not thinking about the consequences.
 

100proof

Insert Something Clever Here
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The biggest problem is that for-profit colleges are a fucking scam and tuition costs have become borderline criminal. Anyone over the age of 40 who says boo about kids complaining about student loan debt can get fucked. Shit costs three to five times what it did just 25 years ago.

A slightly smaller part of the problem is that most 18-year-olds a) have no idea what they want to do yet and b) have ZERO fucking clue how economics work beyond maybe having a savings account and they get saddled with these ludicrously large debts that they weren't nearly savvy or mature enough to understand. Part of that is a failing of the education system to teach kids about basic things every adult should know (critical thinking, civics, base-level economics, the difference between facts and opinions, that 'irregardless' and 'supposably' aren't fucking words). But yeah... also that it shouldn't be so ludicrously expensive to begin with.

More people should go to vocational schools and community colleges while they figure out what they want to do with their life.
 
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NeoSneth

Ned's Ninja Academy Dropout
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how many of these students are writing their complaints on their MacBook pro's and iPhone 13's?
 

wataru330

Mr. Wrestling IV
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More people should go to vocational schools and community colleges while they figure out what they want to do with their life.
This. Doing GEd courses @ Jr. College, then transferring to Uni saves a ton of money, and you arrive at the same destination as someone that did all 4 years of undergrad at Uni.

A year or two of AmeriCorps•NCCC (unarmed National Service) before you turn 24, can help focus future higher education efforts. Tons of work and team-building experience, see wide swaths of the country, and earn a monetary Educational Award.

The Award isn’t as robust as the GI Bill; however, you aren’t shot at as much. ;^)
 

wataru330

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Can you imagine being born in 2000 and being 18 in 2018?

Sounds like a ducking nightmare.
I feel like I was born right in time, often. I’m comfortable having one foot in the 20th Century, and one in the 21st.
 

Lagduf

2>X
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Same. Born 1984. Had enough of a life without a computer and later without social media. I don’t mean to say the future is fucked but zoomers are. We have not yet figured out the societal ramifications of some of this technology. Maybe nothing will come of it…but I dunno.
 

NeoSneth

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they live in a time where they can get information whenever they want, and learn whatever they want... for free.
but

they also are flooded with misinformation, fake articles, and self fulfilling search engines... The internet is the worst it's ever been.
 

SpamYouToDeath

I asked for a, Custom Rank and, Learned My Lesson.
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they also are flooded with misinformation, fake articles, and self fulfilling search engines... The internet is the worst it's ever been.
It's amazing how much information on the Internet is flat-out wrong. Not misleading or outdated or something, but literally and simply false, in ways that are provable and not arguable. People will publish information that is totally mundane, that they have no reason to lie about, and just fucking make it all up.

I ran into this when searching for information about CD mastering, and especially about the format of a PSX CD. I had to give up, buy some old Sony technical manuals, and reverse-engineer the rest. In that case, I knew that the Internet was wrong, because I got the right answers myself. I can't imagine how much else I've clicked through is total bullshit.

Having a good source of trust in your education is essential.
 

lithy

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Uncle Sam bailed out some shitty corporations they can bail out the actual taxpayers.

Both are wrong.

Guess which one they're guaranteed to do again.

And again, and again...
 

lithy

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The best thing would be to make student loan debt dischargeable in bankruptcy. The entire tuition inflation problem stems from federally guaranteed student loans.

Sure, it would instantaneously dry up the pool of lenders willing to front you $100k for some humanities bullshit. But that's a good thing. Everyone knows college is not for everyone, but we can't say it, or we are horrible, heartless monsters.

Forgiving student loans is just handing over tons of money to banks again. It isn't an individual bailout. Make them dischargeable in bankruptcy. Make the lenders eat shit. Make the borrowers own their decision. Everyone must accept the pain so we don't make the same mistakes again.
 

neo_mao

Been There., Done That., It Was Shit.,
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If I may be an asshole for a moment...

I haven’t been keeping up with this and don’t know the terms of what any forgiveness may or may not look like. But anyway, forgiving student is cool and all, but if they are going to do it they should do it for everyone.

I mean, I do ok and can make my loan payments without hardship thankfully....but i’m no Wasabi or HDR.

By forgiving loans for some but not others, it would be like punishing those who did a reasonably good job at managing their careers and trying to be responsible. I’m not saying people who can’t pay back their loans are all irresponsible, but it does feel unfair to those who’ve been making payments and will still be required to do so while others may get a clean slate. The guys in the middle always get screwed.

Anyway like I said I don’t know the specifics. Maybe everyone is getting forgiveness or maybe no one is, so whatever.

🍆
 

norton9478

So Many Posts
No Time
For Games.
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Tuition inflation is real inflation.

It is skilled labor intensive. It can't be outsources as easily.
 

NeoSneth

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$30k was good money....for entry tech level and also 20 years ago...
ouch...also... it is what it is.
 
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madmanjock

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Fuck guys, I’m so sorry after reading some of these stories. We’ve all seen some crazy shifts in our lifetimes.

Scotland still has ‘free’ tuition fees for undergraduates and offers a low(ish) interest rate on living costs. I left Uni in 2011 with a (lol) useless undergraduate arts degree at a time when most graduate employers weren’t hiring and the few that were became near impossible to get in.

While I was an idiot for not knowing at 18 what I was going to do with my degree, I was fed a half-truth as fact that 60%+ of degrees will get you anywhere. That maybe was once true, but then 2008 happened.

I became very disillusioned at the whole system. Took a minimum wage job, drank too much, smoked alot of weed… but I still count myself lucky as I wasn’t riddled with debt.

Once I’d got the rage out my system, I looked about the job market to see what jobs paid decent amounts. I did a Finance Masters in 2016-2017, which I did pay out my own pocket with loans, but even then it only cost me about £12,000 including living costs, which sounds cheap compared to the USA.

My masters degree meant a top tier consultancy would even consider me. Two telephone interviews, one group assessment day and a final in person interview with a partner later and I’d fucking done it. Jumped from making £17k a year to a ‘entry level’ £30k a year job. It was life changing.

Once I got in, I totally killed it at work. I guess because I was in my late 20s and had been through alot of shit, I was alot hungrier than most 21 year olds fresh out of Undergraduate studies bitching about how £30k is hard to live on. I’ve been promoted a couple of times since, life is feeling good at the moment.

That’s a long post, but for me going back in to do a one year masters was a gamble that paid off, mainly as a course correction to get into jobs that I was always capable of doing, but I didn’t have the right piece of paper at the start.
 

GohanX

Horrible Goose
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The best thing would be to make student loan debt dischargeable in bankruptcy. The entire tuition inflation problem stems from federally guaranteed student loans.

Sure, it would instantaneously dry up the pool of lenders willing to front you $100k for some humanities bullshit. But that's a good thing. Everyone knows college is not for everyone, but we can't say it, or we are horrible, heartless monsters.

Forgiving student loans is just handing over tons of money to banks again. It isn't an individual bailout. Make them dischargeable in bankruptcy. Make the lenders eat shit. Make the borrowers own their decision. Everyone must accept the pain so we don't make the same mistakes again.

🤔
I don't hate it.
 
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