Posted on 06/17/2019 11:13:11 AM PDT by Hojczyk
I have $235,000 of student debt. The first $120,000 came with a bachelor’s degree from my state school. Another $70,000 or so came with my master’s degree. The remainder is accrued interest.
I would have to begin devoting half of my income to debt payment if I cared to pay it off by 2042. I can’t do that because I make just under $4,000 per month. And that income is a fairly new development in my life. Why would I choose to pay down my debt if it meant I wouldn’t be able to afford basic living expenses?
My parents are in their 60s and 70s and will live the rest of their lives with my student debt. Likely so will I. Again – we won’t be alone.
Three million Americans over the age of 60 are paying off student debt. Approximately 40,000 of them are having Social Security or other government payments garnished.
College was supposed to be about getting ahead in life. But it’s become a driver of inequality.
It does not have to be this way.
Some economists say that forgiving student debt would boost GDP by $100 billion per year for ten years and add several million jobs to the economy. It would unlock the capacity of 44 million Americans to buy homes, launch small businesses, and retire with dignity.
Congress could pay for it by repealing the $1.5 trillion tax cut it passed in 2017. Primarily benefiting the wealthy and corporations, even Goldman Sachs says that whatever economic boost the tax cut brought with it has passed.
And to keep future generations from suffering under the burden of student debt, Congress could make public colleges, universities, and trade schools in the United States free.
(Excerpt) Read more at finance.yahoo.com ...
OK
“$#!+ForBrains has a
BAchelor of Arts in “Journalism and Media Studies”.
and a
Master of Arts in “Social Journalism”.”
If he plans on being a journalist he is not going to make much more than he is now. Ever.
How did his parents let him do this to himself? I know he can make his own decisions but a parent should try and step in when their kid is about to jump off a cliff.
WTF is Social Journalism?
There is no cure for stupid.
Some of us worked our way through college.
I’m twrribly sorry mam, yourchild died of terminal stupidity.
This assclown could have gone to a plumber, welder, equipment operator or a dozen other trade schools, and came out debt free or close to it. At what point does one say, I don’t see any up side to this schooling. Higher education, if you can call it that, is now the new mafia, and they don’t have to worry about the FBI. And of course, the real problem is, schooling will not fix stupid.
[These people make every wrong decision but still think they know better than the right. Sad.]
Because all Trumptards live in very poor trailer parks, aren’t very educated and don’t worship the Antimessiah Barack like they’re supposed to.
I’ve seen variations of this comment for 2 years at liberal Yahoo. Oh the last part they might say in another form. The first two parts is pretty much dead-on what they say. Every day of the week.
[Student loans cannot be expunged thru bankruptcy.]
That is correct. I have never had a student loan, though and paid off my college debt within 6 months of graduation (it was on my credit cards). I only owed about $1,500 or so when I left college.
If he starts selling drugs, he can pay that off in four years.
If he sells himself for sex with men, he can pay it off in less than two years.
Last May, my kid graduated from a small, highly regarded private engineering school. Most students end up working for NASA or NSA. Outside the field, the place is relatively unknown. He had about $60,000 in scholarships. Borrowed some from us and general student loans. As a Junior, he got a job in his field. It included education reimbursement which helped for a couple classes. He used the money he earned to pay for school. He also worked summers.
As soon as he graduated, he began working his loan payment plan. He and four friends share a rental house. He drives his old car. He paid off the highest interest loan first, then the lower one, finally, in late May, he paid us. Somewhere north of $30K paid off in a year. He still lives in the rental house and drives the old car. He’s saving for a newer one.
Not to say he’s living like a pauper. His buddies are on the same live cheap and make money plan except they are buying lots of guns. Let’s just say that house is very well protected.
“College was supposed to be about getting ahead in life. But it’s become a driver of inequality.”
lol!
I would say "it definitely wasn't economics," but I know some of the crap that is taught in that field these days.
I think it must be this whoa-is-me, you-owe-me, I’m-gonna-stick-it-to-you article he just wrote!
Pay off your obligation . You took the money. I laugh at your fecklessness .
Obama: “I’ll give you tiis big nickel for that litle nickel” LOL!
What fools ro rhink they would come out ahead.
Here’s a question for our debt ridden friend. With
regard to the social science courses you were obliged
to take as part of general education requirements for
undergrads how much money were your professors paid?
I am talking about those PhDs who have no marketable
skills away from the university like, for example, those
in the Women’s Studies Dept or (fill in the ethnicity)
Studies Dept. Who questions the cost of higher
education? Immume from scrutiny?
the “masters” is really the coup de grace.
LOL - this dude thinks paying back loans is a 'personal choice'? Gads, to be that young and stupid... Hey Simon Galperin have your heard of 'garnishment of wages'? No? YOU will...
Looks like he’s on ‘vacation’... must be nice to be that delusional...
No Comments section after the Article. Hmmm...
When I graduates tuition was $500/semester. Adjusted for inflation today that would be $1,637.76. A state school now is $8,000/semester. Something is going to give.
You’re right. In fact, I think it was a deliberate set-up for a future campaign: “vote for me, get debt-free!”
Republicans could re-empt this: promise to reduce debt but target the schools.
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