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7 Lives Wrecked by Student Loan Debt

 
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IslandSuga View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote IslandSuga Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 5:58am
I'm over $100k in debt including undergrad and grad school, however depending on where I am employed I will be able to pay it off. I'm worried, but I'm not that worried. Just gotta find ways to save money, especially with groceries, etc.
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loveandpeace1984 View Drop Down
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Post Options Post Options   Thanks (7) Thanks(7)   Quote loveandpeace1984 Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 6:34am
America is a coporation, not a nation or country, it was built for greed and wealth and thievery. Why do you think the culture changed?
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Post Options Post Options   Thanks (4) Thanks(4)   Quote sistagal Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 6:39am
Plus, I wish more people would look at their degrees more carefully before paying for them.

I do not see the point of doing a degree in to be a PA & ending up in debt when you can get a job & work your way up & the company trains you.

It's cool to go to Uni & have student debt when you know: 1. You will be employable because of that degree & 2. You will have a good salary.
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Post Options Post Options   Thanks (8) Thanks(8)   Quote Limalady Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 6:56am
At you guys blaming the uneducated, impoverished people looking for a better life for their student loans and their inability to pay them back. The system is broken. Poor people are targeted by the most expensive universities (Everest and ITT Tech anyone?) These institutions run commercials all day long, promise them counseling, training, and job placement, but most of them end up with tons of loans and no direction. It is terrible. Most of them were just seeking a means of upward mobility, but now more than ever socioeconomic status is determined by who your parents are, not who you are.

I served in the army to pay for undergrad (still raked up $18k for living expenses and study abroad). I got a $25k scholarship per year for law school (still paid for the LL.M degree, that piece of sh!t). Anyway, I have something lined up at a private firm, but that won't help me pay off my loans quickly. I'm trying to get into the government, even if it pays crap. There is a 10-year discharge plan for government workers. If you make 10 years of payments (even the minimum payment) they discharge the rest of your government debt, depending on the program. I'd take a low paying public defender job, but Wayne County has a hiring freeze. So the government jobs in Michigan aren't easy to come by either. My friend was telling me though that there is a 10 year payment and discharge plan for private sector employment too. I'm going to meet with financial aid to discuss it.
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loveandpeace1984 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote loveandpeace1984 Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 6:59am
The system has been broken and this is just dealing with uncle sam, if it goes to the private sector things will be much worst and have you literally stuck in the united states as slaves. That's why I'm leaving the so called "the land of freedom" in search of real freedom. People think the world is scarier, but what's more scarier you dying and leaving your children all your burdens headaches and pain and it keeps increasing until your lineage cannot bear the weight and end up as slaves to the system.
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Bribby View Drop Down
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Post Options Post Options   Thanks (2) Thanks(2)   Quote Bribby Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 7:35am
This is some BS! Thank God I got a college fund and i pray I can get one for my daughter.
I will not be getting a Master's for a minute
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Post Options Post Options   Thanks (3) Thanks(3)   Quote Prazol60 Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 7:46am
Nah they don't remove those student loans after five years.... creditors just can't touch you or find you (unless you decide to work for an American or International company)
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Omni Harmony View Drop Down
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Post Options Post Options   Thanks (5) Thanks(5)   Quote Omni Harmony Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 8:38am
The more these threads pop up, the more these other countries look more favorable. Japan, Sweden, Finland, Denmark, Canada and England seem to have a better way for college payment
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Post Options Post Options   Thanks (1) Thanks(1)   Quote keelolo1 Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 9:00am
I see this everyday, I underwrite loans so I have to look at credit bureaus and income. Its sad that I see 100k in student loan debt but 2100 in monthly income. ESPECIALLY for teachers.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote GoodGirlGoneGr8 Quote  Post ReplyReply Direct Link To This Post Posted: Jun 17 2013 at 9:06am
I think the reality is that people are living far above their means and not sacrificing as much as they could...

It's all about money management...a masters doesn't mean you have to live in a mansion. You can live modestly and frugally even if you didn't get the dream job hoped for after graduation...

Live with your parents if need be...

It's all about sacrifice
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