How long did you finance for?

this guy fucks...financially

 

If they forgive student loans i'm going to be wild pissed off. I graduated in the depths of the great recession in a job market where the unemployment rate was 13% U3 and north of 20% U6. I had $32k and change in student loan debt. Insult to injury my state job let me go the same month I graduated, but I was not goodly enough to get extended unemployment benefits since the hours I worked wasn't enough or some shit. I got zero help unlike the people have today. I had to figure it out on my own, my debt my problem. So I put my thinking cap on and relocated 1800 miles away from home to take a job. I paid that student loan debt off in 18 months.

How did I do it? I'm a rugged individual my parents didn't raise no pussy looking to others to clean up the mess.

 

I agree, I don't want them to forgive them, I just paid off college lol. But I do think that its ethically wrong to sell massive debt to high schoolers and I think schools should do a better job of explaining the long-term effects of debt and other instruments. I had a friend who took out $20k+ in just one year for a $6-8,000k school/semester. Lots of freshmen take out full amounts expecting to be full-time students. They aren't supposed to cover the full amount, its supposed to be supplemental and a last resort.

From this, I can understand why some want student loans to be forgiven, even though I am not one of them.

 

My mom's younger sister paid off her large home at 45 and died at 51 after a 2 year battle with brain cancer.
She went from running an HR department for a fortune 500 company to sitting in hospice care upset she put off so many of her personal goals outside of work.
It was a good lesson for me to see as I was in my mid 20s. Finding the right balance is important.

 

They're not high schoolers anymore, they're 18 and they're called adults at 18.

https://www.youtube.com/watch?v=Ghd2bkIadG4

 

Forgiving student loans is bullshit. Why the hell should I have to pay for some stupid ass that borrowed his/her way thru college.

 

84 months at 3.80% first time buyer of a new vehicle age (24) no co-signer.

 

I was ballz deep in a girl from UC Davis at 24 not ballz deep in car debt

 

I agree and disagree. The student loan process needs to be better explained to the kids and their parents prior to signing. I can see calling it a predatory practice. The schools know that all of the kids can get loans, so tuition has spiraled out of control. If the federal government stopped backing the majority of the student loans the university system would freak out, but eventually the system would correct and schools would become reasonably priced again.

At the end of the day we need personal responsibility: They took the loans, they need to pay it back. If they are dumb and choose a major without good job opportunities and can’t earn enough to pay their loans, fuck them. There is no reason the loans should be forgiven because they were stupid and studied some unemployable major. My wife and I are past all the debt and we’re better people for the experience. That experience shouldn’t be taken away from the current generation, they need to learn that life is not fair and they have to step up and take care of themselves.

I’m all for a free trades or community college programs to give everyone a basic career path without the need to take on student loans. I refuse to accept the idea of free four year university programs for all on the taxpayer’s back. Buying votes with student loan forgiveness or other free shit programs is reprehensible. The 1% is too smart to pay for any of this, it will fall on the backs of the middle class taxpayer. A major reason why all my current investing is Roth.

 

Chicks dig the Tacoma...maybe it’s a win win!

 

To be fair, you don't HAVE to go to college. If it was required, I could see issues with the debt. But, trade schools, universities, community colleges, etc. all have different rates and largely offer the same things. You can argue about quality and what not, but I've found that none of that really matters after a few years on the job. Not to mention there are a lot of people who make a good living and have no schooling after high school, either. Each presents different opportunities, but ultimately it's a choice you have to decide to make. I hated the $33k+ I had to borrow, but I managed to pay it off in just under 4 years because I made it a priority.

 

This was my exact point. I don't agree with forgiving debt, but it is a predatory practice. I just think they should explain it better, heck a lot of my friends graduated at 17 with student loan debt. You don't have to be 18 (and don't need a co-signer/parent) to get student loans.

Trade schools are an awesome idea and the pay is pretty good right now due to a lack of skilled labor. I never once heard a single thing about trade schools while in high school, I was told it was college or fast food lol.

 

Learning to play guitar and hang out at coffee houses on open mic night might be cheaper

 

This is true. I just think it should be explained better, perhaps providing a class/elective for highschoolers on money management. It could certainly prevent a lot of the issues we have going on.

 

In addition to basic gun safety, all school curriculum needs to include some money management education like Dave Ramsey.

 

I shopped all options. 72 months had the lowest interest rate for me. I intend on paying that 72 month note within 36, though. Holding a car note for that long is goofy.

Edit, if you want to know real goofy, I had two:

They gave me a 10 year note on my $12,000 camper, but at a stupid 5% or something. That one got paid off rather quickly.

They also gave me a 10 year, 0% interest on a $6000 furniture purchase. Yeah, that one actually makes sense to make minimum payments.

 

I had to do 60mo to get the 0% interest promo. Wanted to do less but the interest would have been 1.99%.

 

2020 TRD OR purchased Dec 2019. $0 down, 60 months, 1.9%. Maturity date is Dec 2024. Going to have it paid off in March 2023-ish. Only debt I'll have left is the home and that was only a 9-year loan. It will be paid off in April 2026.

 

If they forgive that debt why not credit cards and mortgages? TBH there is a part of me that would laugh about it since our society is based on debt slavery

 

The problem here isn't necessarily the loans themselves, it's the cost increase in higher education across the board. When I started college in the early 2000s tuition was $15,000 a semester and by the time I graduated was $18,000+ a semester. Next year is 15 years out and tuition is $27,000 a semester. The outpacing of college costs versus wage increase, etc. This doesn't even include housing and what I've read is a newfound predatory textbox setup.

https://www.usnews.com/education/be...rs-of-tuition-growth-at-national-universities

There is definitely something to be said about promoting the trades, state colleges, etc as there are plenty of people out there who dropped out midway through school because it wasn't for them even though they were programmed that if they didn't have a degree they are nothing. I also think some of the majors available are borderline ridiculous in terms of specialization, but that's another story.

I can't blanket blame the kids who want to have the college experience without the knowledge. There is a larger systemic problem here outside of them.