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Student loan repayment pause about to un-pause

RunningProblem said:
No offense. I know you’re smart and have worked hard for what you have.

Are you doing everything you can to pay off the debt? Is it ‘tough’ or is it ‘tough while also enjoying the money I make to do the fun things I want to do’ ? There is a difference. To me, the first one is a struggle and you don’t have extras. The other is equivalent to ‘TikTok nurse makes video complaining about living paycheck to paycheck saying $200 to spend after everything is paid for.’
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You are correct, I’m very blessed. I could have it way worse. I forgo a lot of things but I don’t forgo many things either. I do a ton of work myself. So even after the day is done at one job, I go home to another “job” which is some sort of idea of retirement along with trying to give the middle finger to taxes.

I don’t worry about ever going without food or basic needs. I was not completely oblivious but not 100% understanding of what it would take to pay these loans back as a young adult (kid). I do have a reliable truck and some other farm trucks. I have a side by side and a tractor. So yes, I have a few things. And will continue to work on my own stuff.

I guess sometimes, always working, just takes a toll. So no, I have no reason to complain. I just like to join the crowd on irate doing it about their own problems 😬
 
"In reality, borrowers rarely had their debt forgiven under the plans, due largely to servicer error, according to advocates, borrowers and the government. Last year, the Biden administration announced that the Department of Education would be reviewing and adjusting borrowers’ accounts to give them credit for payments that should have counted towards debt forgiveness.

So far, that adjustment has resulted in more than 813,000 borrowers who have been paying their loans for at least 20 years having the debt wiped away. It’s these borrowers who are receiving the email from Biden."

Everyone getting their loan "forgiven" has already had it happen. And sounds like they earned that forgiveness.
 
east_beast said:
How in the fuck did you rack up $650k in student loan debt?
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Professional school isn't cheap. Although I did work through most of school, I was just minimum wage so I could go out some with friends and not feel completely terrible living off loans. The even better part is all those loans accrue interest even while I am in school with no way to pay for them which I think is a crock of crap. That really hit me the hardest. about 200k of that is just interest over the years.

One thing about dental vs med school, dental residencies are not paid (for the most part). Where as med school residencies are paid slightly although they tend to be longer in duration.
 
OutlawRider said:
Professional school isn't cheap. Although I did work through most of school, I was just minimum wage so I could go out some with friends and not feel completely terrible living off loans. The even better part is all those loans accrue interest even while I am in school with no way to pay for them which I think is a crock of crap. That really hit me the hardest. about 200k of that is just interest over the years.

One thing about dental vs med school, dental residencies are not paid (for the most part). Where as med school residencies are paid slightly although they tend to be longer in duration.
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Residencies and internships are the biggest scams going IMO. Huge barriers to entry for normal folks who don't have family money to lean on to get them through the lean years.
 
east_beast said:
Residencies and internships are the biggest scams going IMO. Huge barriers to entry for normal folks who don't have family money to lean on to get them through the lean years.
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Yep free labor.

That said my sil made decent money as a med resident.
 
OutlawRider said:
I was not completely oblivious but not 100% understanding of what it would take to pay these loans back as a young adult (kid).
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This isn't directed at you specifically, but in general this seems to be the part that's missing. As a society, we aren't properly educating kids not only how student loans work, but debt in general and now here we are.

Here being a society that in general doesn't know how money and lending work, don't know how to manage finances, and are stupid enough to think the government has their best interests in mind when they get bailed out from poor decisions. Stupid should hurt but instead we're taking that pain away.

You're feeling that pain and good on you for accepting that responsibility, I've been in the same boat many times myself and now I know better. I do feel empathy for people like us who have to learn the hard way but I have zero empathy for the entitled group that thinks loan forgiveness is the answer.
 
TanTJJim said:
This isn't directed at you specifically, but in general this seems to be the part that's missing. As a society, we aren't properly educating kids not only how student loans work, but debt in general and now here we are.

Here being a society that in general doesn't know how money and lending work, don't know how to manage finances, and are stupid enough to think the government has their best interests in mind when they get bailed out from poor decisions. Stupid should hurt but instead we're taking that pain away.

You're feeling that pain and good on you for accepting that responsibility, I've been in the same boat many times myself and now I know better. I do feel empathy for people like us who have to learn the hard way but I have zero empathy for the entitled group that thinks loan forgiveness is the answer.
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You know what really got me. It wasn’t the loans or paying them back. It is taxes. I think everyone should be 1099 so they can actually see what is getting taken from their check and know how much the government gets their greedy little hands on.

A 6 figure income Can cover my loans pretty well until you take out taxes and then that six figures isn’t as nice. That was really what was eye opening. I was always w2 so taxes were just held out.

I really am just pissing and moaning. I will make it through no matter what. It’s more of a rant than anything. I just feel like I am working hard climbing up a muddy steep slope. It will get there and the deeper I dig, the drier it will get until I gain traction.
 
OutlawRider said:
You are correct, I’m very blessed. I could have it way worse. I forgo a lot of things but I don’t forgo many things either. I do a ton of work myself. So even after the day is done at one job, I go home to another “job” which is some sort of idea of retirement along with trying to give the middle finger to taxes.

I don’t worry about ever going without food or basic needs. I was not completely oblivious but not 100% understanding of what it would take to pay these loans back as a young adult (kid). I do have a reliable truck and some other farm trucks. I have a side by side and a tractor. So yes, I have a few things. And will continue to work on my own stuff.

I guess sometimes, always working, just takes a toll. So no, I have no reason to complain. I just like to join the crowd on irate doing it about their own problems 😬
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It was more about ‘tough’ being different. I’m hearing coworkers say they don’t make enough then a month later say they’re taking two weeks off, flying to other places for fun, and taking their car to the dealership because it is safer. It’s ‘tough’ because they ‘don’t make enough’ which is actually code for ‘well I feel entitled to these nice things because I have a job and going without seems unreasonable.’

If you’re complaining about payments on a $650k loan I get it. If you’re dumping $2,500/month into fun while saying ‘it’s tough to pay’ I’m going to say your spade is aKSHUWOOLY a shovel not a heart.
 
OutlawRider said:
A 6 figure income Can cover my loans pretty well until you take out taxes and then that six figures isn’t as nice. That was really what was eye opening. I was always w2 so taxes were just held out.
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I hear you, once you see it it's pretty crazy to see how badly the system is stacked against you.

I know it's a tangent to the conversation but my solution is to be free of bad debt, invest enough to retire early, and retire with an expense level that will put me in the bottom tax bracket. Fuck being a wage slave until I'm nearly dead with no time or health left to enjoy the fruits of my labor.
 
[486] said:
jesus christ
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Damn near everyone who entered some bullshit racket of a business where you go to school, grad school and then maybe further school is in the same boat.

Lawyers, doctors, etc. You look at how these professions vote. How the basket weaving degree guy who works at starbucks votes and how engineers, accountants, etc who paid back their loans vote and it makes more sense that they're peddling student loan forgiveness. It's basically a "please don't jump ship" payment.
 
This is how they want it. They want the new American dream to be saddling yourself so severely with debt that you can't afford anything other than go be a cog in the wheel to make decent money to service your debt and you'll rent everything and own nothing and be happy. Doing your own thing? Starting your own company? Buying property? Hell, that sounds too much like potential competition. There's a reason why they push everyone to college and why student loan debt can't be escaped even through bankruptcy. Gotcha!
 
Wife has 13k in school debt and I thought that sucked. We are down to a 8K car payment, some assorted medial shit, and that school debt from being debt free. Just paid off 12K in other crap. Almost there. Feels like the little engine that could sometimes, uphill battle.
 
east_beast said:
This is how they want it. They want the new American dream to be saddling yourself so severely with debt that you can't afford anything other than go be a cog in the wheel to make decent money to service your debt and you'll rent everything and own nothing and be happy. Doing your own thing? Starting your own company? Buying property? Hell, that sounds too much like potential competition. There's a reason why they push everyone to college and why student loan debt can't be escaped even through bankruptcy. Gotcha!
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There is nothing NEW about this. It has existed for at least 50 years. Some of the people pushing their kids to go to college had shitty jobs and watched someone with a degree advance and work easy. I listened to one of my welding instructors bitch about the ‘office guys’ doing nothing while he was working hard to make $18/hr.
Some of those college guys hate the office bullshit and tell their kids to learn a trade or pursue their dreams instead of going to college.
 
RunningProblem said:
There is nothing NEW about this. It has existed for at least 50 years. Some of the people pushing their kids to go to college had shitty jobs and watched someone with a degree advance and work easy. I listened to one of my welding instructors bitch about the ‘office guys’ doing nothing while he was working hard to make $18/hr.
Some of those college guys hate the office bullshit and tell their kids to learn a trade or pursue their dreams instead of going to college.
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I think we could see this start to happen. That is if the folks saddled with student loan debt feeling they got liked to and cheated out of this deal actually have kids.

My daughter is 8 and I know I'm gonna be tracking her interests in school very closely. Like look, there's other paths outside of the college path. The new American dream of corporate middle management ain't all it's cracked up to be unless you're a natural go along get along ass kisser which you're not. If you do want to go the college route, you need to like up as much AP credit as possible and if you don't have academic scholarships strongly consider the community college then transfer route.
 
I would be happy if my kid/kids take up a trade as long as the supply doesn’t go through the roof. I’ll just have to see when they get there
 
east_beast said:
I think we could see this start to happen. That is if the folks saddled with student loan debt feeling they got liked to and cheated out of this deal actually have kids.

My daughter is 8 and I know I'm gonna be tracking her interests in school very closely. Like look, there's other paths outside of the college path. The new American dream of corporate middle management ain't all it's cracked up to be unless you're a natural go along get along ass kisser which you're not. If you do want to go the college route, you need to like up as much AP credit as possible and if you don't have academic scholarships strongly consider the community college then transfer route.
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My wife and I agree college isn’t mandatory. We both have a degree and a good/great paying job.

AP credit doesn’t always carry over to college. Some schools don’t care and will make you take the course over. The advantage there is your child already had the massive workload so the college course will FEEL easier. Just make sure to take her to some colleges as a sophomore/junior and you have to research the rules/application process with them. Plenty here have gone to college to know what it was like 30 years ago.
 
RunningProblem said:
My wife and I agree college isn’t mandatory. We both have a degree and a good/great paying job.

AP credit doesn’t always carry over to college. Some schools don’t care and will make you take the course over. The advantage there is your child already had the massive workload so the college course will FEEL easier. Just make sure to take her to some colleges as a sophomore/junior and you have to research the rules/application process with them. Plenty here have gone to college to know what it was like 30 years ago.
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Don't go to one of those schools.
 
east_beast said:
Don't go to one of those schools.
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don’t take AP courses.

Most of my friends who found out their classes didn’t count as credit found out after they got in. If you’re not going to a college because they don’t take your AP classes you’ll find another reason not to go somewhere else. Maybe their mascot offended you. Maybe the teacher doesn’t give a fuck what your opinion is. Maybe they charge you for the buildings you’ll never use or don’t give you free football tickets. you go find your special place where you’re safe from those rules you don’t like and make friend with all the other kids who picked this school too.

Make sure they tell their boss they already know this stuff because they went to college as soon as they get hired. I’m sure they will really love hearing how much they know about this job because they went to college and took some tests.
 
I used my GI bill money. I spent many hours applying for PELL grants to cover the difference. I never really used my degree, as I started a business that I still run today. But I still say fuck the freeloaders that sponge off our government.
 
RunningProblem said:
don’t take AP courses.

Most of my friends who found out their classes didn’t count as credit found out after they got in. If you’re not going to a college because they don’t take your AP classes you’ll find another reason not to go somewhere else. Maybe their mascot offended you. Maybe the teacher doesn’t give a fuck what your opinion is. Maybe they charge you for the buildings you’ll never use or don’t give you free football tickets. you go find your special place where you’re safe from those rules you don’t like and make friend with all the other kids who picked this school too.

Make sure they tell their boss they already know this stuff because they went to college as soon as they get hired. I’m sure they will really love hearing how much they know about this job because they went to college and took some tests.
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or you could plan it out and use the AP system to your advantage.
The local schools are partnered with the local college for AP classes. If you wish you sign up for the program and then literally go to the local state college branch 2 or 3 days out of the week in your junior/senior years.
They count.
Then you do a year at the local branch college and transfer yourself to ohio state proper in your final year to get that fancy paper, as they're all affiliated.
There are ways to use it effectively to save a year or twos worth of college tuition.
 
87manche said:
or you could plan it out and use the AP system to your advantage.
The local schools are partnered with the local college for AP classes. If you wish you sign up for the program and then literally go to the local state college branch 2 or 3 days out of the week in your junior/senior years.
They count.
Then you do a year at the local branch college and transfer yourself to ohio state proper in your final year to get that fancy paper, as they're all affiliated.
There are ways to use it effectively to save a year or twos worth of college tuition.
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Some schools around here let you effectively go to trade school while finishing your senior (possibly also junior) year in high school. We had ag that was basically the trades in high school, but you could leave school half a day and go to the local community college and work with more (small high school).
 
OutlawRider said:
Some schools around here let you effectively go to trade school while finishing your senior (possibly also junior) year in high school. We had ag that was basically the trades in high school, but you could leave school half a day and go to the local community college and work with more (small high school).
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that existed when I was in high school, but frankly it was where all the morons got pushed to and was essentially how the school pushed the troublemakers out of the classrooms.
It was not an effective program to actually earn anything meaningful, it was basically just work release and them telling you to go get a part time job somewhere.
 
87manche said:
that existed when I was in high school, but frankly it was where all the morons got pushed to and was essentially how the school pushed the troublemakers out of the classrooms.
It was not an effective program to actually earn anything meaningful, it was basically just work release and them telling you to go get a part time job somewhere.
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That is what this moron did. I didn’t get a degree in anything but I went to my college classes when I ditched my high school classes. Learned something I wanted to learn, did something I wanted to do.

I’m still a moron but I’ve made more money a year every year than my friends who graduated college with student loan debt.
 
87manche said:
or you could plan it out and use the AP system to your advantage.
The local schools are partnered with the local college for AP classes. If you wish you sign up for the program and then literally go to the local state college branch 2 or 3 days out of the week in your junior/senior years.
They count.
Then you do a year at the local branch college and transfer yourself to ohio state proper in your final year to get that fancy paper, as they're all affiliated.
There are ways to use it effectively to save a year or twos worth of college tuition.
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Yes. Taking college courses to transfer to college credit to another college is more reliable than taking advance placement high school course to count for college credit.

Just don’t go to Ohio state. Go to Michigan.
 
RunningProblem said:
Yes. Taking college courses to transfer to college credit to another college is more reliable than taking advance placement high school course to count for college credit.

Just don’t go to Ohio state. Go to Michigan.
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don't go to Michigan.

Go to a local, inexpensive state school

That rules our UM, MSU, OSU, OU, etc.


$87,000/yr in tuition and shit is dumb.
 
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