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Student loan repayment pause about to un-pause

'84 Bronco II said:
Because they paid into social security :homer: It is like a big under-performing 401K fund that everyone is forced by the government to pay into. I would be in favor of dissolving the social security system, but it is not unfair. The more money you make, the more you pay in, and the more you get in retirement. It really isn't that difficult of a concept.
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eh
"not unfair"
unless you're in the group where it is guaranteed to fail because its mechanism for dealing with inflation requires population growth
a population growth that's underperforming
 
We have a parent/student loan. I kept making the monthly payments during the forbearance period because the entire payment went to principal. Every month I’d get a reminder that I don’t have to pay. Fuck you, this 0% interest is great. :laughing:
 
JR4X said:
Because there’s no longer a single consequence to being a fuck up. This will be blamed on the patriarchy and white privilege. People who had 3 years and every opportunity to get their shit together are gonna crash and burn. They will be bailed out somehow at the expense of those who were responsible the whole time
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I plan to capitalize on these drains. It took me the last 10 years to handle my student loan debt, save money, and buy a house. And I plan to be there with my cash in hand paying bottom dollar for whatever trucks, trailers, tools, and toys these assholes have to pawn to get by.

People callously talking about not paying their debts to society, over beers or what have you...and for the most part I just held my thoughts back bc I was more concerned with me moving forward. Its enlightening to associate/socialize with people and hear about how they deal with finances so freely like it's no big deal, but one bad decision after another adds up and that hole gets big.
 
Tin Roof said:
We have a parent/student loan. I kept making the monthly payments during the forbearance period because the entire payment went to principal. Every month I’d get a reminder that I don’t have to pay. Fuck you, this 0% interest is great. :laughing:
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Lot of people don't understand interest and principal. I'm no brainiac but once I've paid my interest, and everything else is taken care of for the month I'll put in "x" amount on the principal.

There's a ton of people that for the last 3 years could have directly paid down the principal on every payment , and not get eaten up by asinine interest
 
Snoop dogg said:
Lot of people don't understand interest and principal. I'm no brainiac but once I've paid my interest, and everything else is taken care of for the month I'll put in "x" amount on the principal.

There's a ton of people that for the last 3 years could have directly paid down the principal on every payment , and not get eaten up by asinine interest
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It was a great opportunity that was terribly overlooked by many.
 
Tin Roof said:
It was a great opportunity that was terribly overlooked by many.
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Exactly. You could have paid so much principal off it would have been insane. The .gov should have been encouraging kids to pay as much as possible during this period. They would have gotten their free 20k in unrealized interest.
 
rockota said:
Literally coerced? Cite the source?
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No one put a gun to my head, or arm behind my back.

It was my decision and honestly 20 years later....I still make bad decisions. I try to understand what I am doing better now that I am older and try to put myself in what I think is the best position at that moment but at some point you gotta make your move and deal with the consequences OR the reward. Either way there should be some experience/growth that you gain either way win/lose.
 
ThePanzerFuhrer said:
Exactly. You could have paid so much principal off it would have been insane. The .gov should have been encouraging kids to pay as much as possible during this period. They would have gotten their free 20k in unrealized interest.
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I'm sure it was in small black writing at the very bottom of the last page that explained paying it down....legally speaking. But am I wrong in thinking that why would the .gov want them to pay it off without interest? Doesn't the money just all funnel back to the same spot :homer::homer:
 
[486] said:
eh
"not unfair"
unless you're in the group where it is guaranteed to fail because its mechanism for dealing with inflation requires population growth
a population growth that's underperforming
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exactly.

SS will not be there for me when i retire. SS will implode when the watershed of boomers all retire as they slide their fat asses into retirement while they reigned over a lifetime of unnecessary war, unbridled rape of the middle class and allowed 50 millions illegals into our borders.

But hey..... pay your bills, ok? Thats "principled conservatism".
 
bigun said:
It was due to end in August anyway
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Let the Republicans have their victory. Don’t come in here with your facts or else you’ll make the republicans who abandoned the party look bad.
 
Snoop dogg said:
Lot of people don't understand interest and principal. I'm no brainiac but once I've paid my interest, and everything else is taken care of for the month I'll put in "x" amount on the principal.

There's a ton of people that for the last 3 years could have directly paid down the principal on every payment , and not get eaten up by asinine interest
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Tin Roof said:
It was a great opportunity that was terribly overlooked by many.
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Why would you pay your loans back during this period? Instead you should have been taking the $$$ you were going to pay the loans down with & putting it in money market accounts or the highest earning bank accounts you could. You would be up 10% over the last three years. Now that its time for interest to restart, lump sum payment the principal on that bitch.

You pay no more interest than one who paid the whole time & you either have $ in your pocket or are 10%+ further along on paying off your debts :confused:

Edit: i realize that this is a strategy that works for those who are good with money. Often not the ones with debt/student loan issues:homer: It doesn't change the fact that its a good strategy.
 
IEATRKS84 said:
Yes in a dozen states.

But here we go, personal attacks when "principled conservatives" dont like when i pop their retarded world view balloon.
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hey, sweet. me too. trying to push a few more states through NCEES
 
Clemson13 said:
Why would you pay your loans back during this period? Instead you should have been taking the $$$ you were going to pay the loans down with & putting it in money market accounts or the highest earning bank accounts you could. You would be up 10% over the last three years. Now that its time for interest to restart, lump sum payment the principal on that bitch.

You pay no more interest than one who paid the whole time & you either have $ in your pocket or are 10%+ further along on paying off your debts :confused:

Edit: i realize that this is a strategy that works for those who are good with money. Often not the ones with debt/student loan issues:homer: It doesn't change the fact that its a good strategy.
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Well your talking to someone that paid down their debt the old fashioned way. I don't navigate each day or year with the hope that a pandemic or a president will provide some "forgiveness" for the have nots.

My student loans were paid off before this whole 2020-2023 BS.

However you want to skin this cat people should handle their debt. I understand you are just a regular warren buffet moving money from one account to another and that's great. But a lot of people could have paid their debt off in 3 years paying just on principal.

I don't know what accounts have a high return , right now I think my savings account is 4.5%.

I know plenty of people that are in a good place financially, the old fashioned way, without taking a page out of dave Ramsey's book. Could they have more moving money around? Yea. Could they have less? Yea.
 
IEATRKS84 said:
exactly.

SS will not be there for me when i retire. SS will implode when the watershed of boomers all retire as they slide their fat asses into retirement while they reigned over a lifetime of unnecessary war, unbridled rape of the middle class and allowed 50 millions illegals into our borders.

But hey..... pay your bills, ok? Thats "principled conservatism".
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You’re just as responsible for all these failures as the “boomers”.

Based on your immature post, blaming everyone else for your failures, I’m gonna guess you’re still pretty young. Based on that, here’s a little advice.

Work hard, pay your debts, make good financial decisions and invest wisely. Then, you won’t run around whining about other people’s cost of living, social security and crying about how life’s not fair.
 
Rockbuggy84 said:
You’re just as responsible for all these failures as the “boomers”.

Based on your immature post, blaming everyone else for your failures, I’m gonna guess you’re still pretty young. Based on that, here’s a little advice.

Work hard, pay your debts, make good financial decisions and invest wisely. Then, you won’t run around whining about other people’s cost of living, social security and crying about how life’s not fair.
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Boomers are totally unable to reconcile the fact that they ruined this country and in first ever time in America, will leave everything worse for the next generation, rather than better.

But hey, thats "conservatism" for you.
 
Rockbuggy84 said:
You’re just as responsible for all these failures as the “boomers”.

Based on your immature post, blaming everyone else for your failures, I’m gonna guess you’re still pretty young. Based on that, here’s a little advice.

Work hard, pay your debts, make good financial decisions and invest wisely. Then, you won’t run around whining about other people’s cost of living, social security and crying about how life’s not fair.
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He wants people around him to improve their properties to artificially inflate the value of his own property. totally on board with student loan forgiveness. So he’s familiar with the concept of benefiting from the US economy. He’d just so happen to benefit a lot more if you’d cover his debt with a smile on your face and no hint of disdain for it.
 
IEATRKS84 said:
Boomers are totally unable to reconcile the fact that they ruined this country and in first ever time in America, will leave everything worse for the next generation, rather than better.

But hey, thats "conservatism" for you.
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How do you explain all of the Americans of all ages that came from absolutely nothing, built an amazing future, wealth and have no complaints about generations before them? There’s millions and millions of these people out there.

You’re trying to blame your personal failures on a certain generation and that’s absolutely embarrassing. Ironic enough, I know people in all generations, including “boomers”, that run around blaming their failures on everyone else also.

This is not a generational problem, this is simply a problem with yourself that you’re not mature enough to take accountability for and fix it.
 
IEATRKS84 said:
Boomers are totally unable to reconcile the fact that they ruined this country and in first ever time in America, will leave everything worse for the next generation, rather than better.

But hey, thats "conservatism" for you.
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Boomers big fuck up was raising pussy ass kids. Im a gen x kid and my generations kids are the biggest pussy’s of them all.
 
Wait, there was a pause? Some of us did not benefit from the pause as our federal loans were never repurchased by the Dept of Education and remain with private lenders. We never got a pause, never got relief from accruing interest, and are not part of the contemplated loan forgiveness. Continued to pay, as usual, and will continue to do so until paid off. Not expecting anyone to pay the obligations I took on but it sure is a slap in the face as I continue to dutifully pay my taxes.


Lets also not forget that during the pause, the missed payments will count towards payments made towards Public Service Loan Forgiveness. Three years of non payments counted towards the ten years required for forgiveness.

Tin Roof said:
We have a parent/student loan. I kept making the monthly payments during the forbearance period because the entire payment went to principal. Every month I’d get a reminder that I don’t have to pay. Fuck you, this 0% interest is great. :laughing:
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Smart.
 
Rockbuggy84 said:
How do you explain all of the Americans of all ages that came from absolutely nothing, built an amazing future, wealth and have no complaints about generations before them? There’s millions and millions of these people out there.

You’re trying to blame your personal failures on a certain generation and that’s absolutely embarrassing. Ironic enough, I know people in all generations, including “boomers”, that run around blaming their failures on everyone else also.

This is not a generational problem, this is simply a problem with yourself that you’re not mature enough to take accountability for and fix it.
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Hey, im doing great financially and the loan forgiveness program effects me in the slightest.

But its monumentally hypocritical and clown-world hysterical what "conservatives" consider socialism and what they consider capitalism.

Yet, whenever i point this out everyone brings out the personal attacks. Because they cant have their retarded bubble popped by wrestling with the facts of where the country is today.
 
I've paid off my student loans long ago but I also saw a lot of my classmates buying 10k bikes, big screens, new apartment furniture and other things with student loans. None seem to care when I asked them about having to pay it back. Fuck em.

Get a worthless degree or choose to attend a college that cost a fortune, not my problem. Want to attend a college to party and say you went to blah blah, then own up to the cost. My job had tuition reimbursement but that was part of the benefits that I considered when accepting the job for my first career. I didnt have fun working 40-50 hours a week while attending college but it was a sacrifice I made for my education.
 
I mean honestly whether it's this or that , it's the whining and complaining about the choices that were made.

"I was 18 and didn't know any better, I was preyed upon"

Yea well I was 18 and didn't know any better as well, I mean honestly who the fuck knows any better at 18. But I made it out ok and know better now. There's a lot of firsts financially that are coming my way and I don't have experience with those ventures. BUT I do have experience with signing my name on the dotted line and understanding of how important the return is for the venture. " A fool and his money are easily parted"

But it's 30 yr olds and older (ma ma ma my generation) that are fucking whining about the stupid decisions they made, man the fuck up. Probably the same people that whined about corporate bailouts , want their loans forgiven.

I think I'm mostly just tired of the fucking whining and complaining. People don't know how to handle their losses like winners.
 
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