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it's almost impossible to keep up the game, at some point you are going to need your SS# to get you something and that's went it's over
you can change names and it doesn't link up to loans always but the SS# doesn't change and they will find it
I know bro not trying to turn this thread sour but ive had cancer 4 times already i dont think ill make it to 40 ive accepted it its messed up but thats life.
Quote:
You do know they'll just place a lien on your assets, right? Or garnish your Social Security when it's time to collect. You WILL end up paying it back one way or another unless you're totally off the grid.
Oh... and that loophole? Let me guess. You're getting paid in cash?
it's almost impossible to keep up the game, at some point you are going to need your SS# to get you something and that's went it's over
you can change names and it doesn't link up to loans always but the SS# doesn't change and they will find it
I know bro not trying to turn this thread sour but ive had cancer 4 times already i dont think ill make it to 40 ive accepted it its messed up but thats life.
I can't quote all you guys but I'll try to answer all the questions. No the government is not garnishing my wages I found a loop hole I'm not going to post here . I own my house paid off last year and I don't use my credit. If I can't pay cash for it I don't need it. I honestly don't know or care for my credit score. No my I don't feel I need to pay it back because I didn't like the job I don't think I need to pay it back because my school lied about job placement after college they said 100 percent. After I graduated I struggled to find find my own job and then I had to start from the bottom as if I didn't have a degree in the first place. Then the student loan people would work with me on my payments so I said screw it. Like I said 10 years and I heard nothing from them.
Damn....you're a hell of a fighter and may you be blessed to live past 40.
Yeah not trying to derail the thread just wanted to explain why i made that choice and why i live so reckless. Not saying its right or wrong but i made that choice and ill live with it. There was a thread on NT a few years ago about my cancer but cant find it now. I turn 30 in August tho .
Not yet.
The hope for this thread was to challenge the central premise of your post: that the problem of student debt is a story of irresponsible personal spending habits.
It is striking that instead of situating student debt in the broader context of wealth and income inequality, you and so many others recite, line for line, the mantra of creditors and their ideological flunkies: It was not the lenders who recklessly expanded credit access irrespective of the income and employment stability of borrowers, but the grand aspirations of debtors. It is neither the program of everlasting indebtedness nor the usurious interest rates on private student loans that is the problem, but graduates who dare decide to buy an iphone to communicate, a car to travel, a laptop to network, and live in a one-bedroom apartment. How dare these people pursue such "luxuries" instead of tightening their belts?
This thread has revealed how non-elites such as yourself adopt the language and assumptions of folks who would have you serve as their serfs.
The point of this thread was also to consider repudiation as a strategy. On that note here are a few excerpts from The Debt Resister's Manual.
--On what it means to be in default
http://strikedebt.org/drom/chapter-four/
-Loans may be turned over to a collection agency
-Liable for potential collection and court fees
-Wages may be garnished
--Fed. Government may withhold part of your social security benefit payments.
**This last point is especially important given the withering away of a social safety net in the U.S.
--Given the securitization of student loans, how do I find out who or what owns my debt?
In general, see section "Know your loans": http://strikedebt.org/drom/chapter-four/
On private loans: http://www.finaid.org/loans/studentloans.phtml
agreedRight, instead of understanding the pitfalls of borrowing let's be mad at the debtors.
Gee, shucks, they're not looking out for us. What a shock.
But I get it, we can't expect young adults or even ADULTS to fully appreciate the gravity of incurring debt.
It's far too much to ask of college bound individuals to do their research. Nope.
People can take exploratory classes, they can visit campuses, they can research what phone they want, what laptop they want, what clothes they buy, what they eat & the career they're going into BUT they cannot be asked to research student loans.
You can't repudiate something by buying into it and back pedaling after the fact. You're only furthering the problem. I guess if maybe EVERYbody defaulted on their student loans it'd make a difference, but as it stands you're likely only going to make matters worse FOR YOUR SELVES.
I'm totally with you on the "wealth and income inequality" thing, but handicapping yourselves isn't a viable approach. IMO more people need to look at other ways of financing their college educations. Maybe people need to start working right out of college, maybe they need to go to community college for a couple years instead of going to a major university for four straight years, maybe more people should consider staying in state.
There are ways to offset the cost, but it seems like while people put SO MUCH attention on what college they're going into and what they'll be studying that they just haphazardly take on loans without really considering all the potential long-term implications.
Right, instead of understanding the pitfalls of borrowing let's be mad at the debtors.
Gee, shucks, they're not looking out for us. What a shock.
But I get it, we can't expect young adults or even ADULTS to fully appreciate the gravity of incurring debt.
It's far too much to ask of college bound individuals to do their research. Nope.
People can take exploratory classes, they can visit campuses, they can research what phone they want, what laptop they want, what clothes they buy, what they eat & the career they're going into BUT they cannot be asked to research student loans.
You can't repudiate something by buying into it and back pedaling after the fact. You're only furthering the problem. I guess if maybe EVERYbody defaulted on their student loans it'd make a difference, but as it stands you're likely only going to make matters worse FOR YOUR SELVES.
I'm totally with you on the "wealth and income inequality" thing, but handicapping yourselves isn't a viable approach. IMO more people need to look at other ways of financing their college educations. Maybe people need to start working right out of college, maybe they need to go to community college for a couple years instead of going to a major university for four straight years, maybe more people should consider staying in state.
There are ways to offset the cost, but it seems like while people put SO MUCH attention on what college they're going into and what they'll be studying that they just haphazardly take on loans without really considering all the potential long-term implications.
This is why I made my statement earlier that if I were President, my policy would be to severely cut federal loan programs for college and reform the whole system. The reason the cost has become so astronomical over the past 30 years is because colleges are getting their funding from the U.S. government and leaving their future alumni holding the bag. It was only about 40 years ago that the top 50% of students in many states would be virtually guaranteed to go to school for free because they were considered an investment.agreedRight, instead of understanding the pitfalls of borrowing let's be mad at the debtors.
Gee, shucks, they're not looking out for us. What a shock.
But I get it, we can't expect young adults or even ADULTS to fully appreciate the gravity of incurring debt.
It's far too much to ask of college bound individuals to do their research. Nope.
People can take exploratory classes, they can visit campuses, they can research what phone they want, what laptop they want, what clothes they buy, what they eat & the career they're going into BUT they cannot be asked to research student loans.
You can't repudiate something by buying into it and back pedaling after the fact. You're only furthering the problem. I guess if maybe EVERYbody defaulted on their student loans it'd make a difference, but as it stands you're likely only going to make matters worse FOR YOUR SELVES.
I'm totally with you on the "wealth and income inequality" thing, but handicapping yourselves isn't a viable approach. IMO more people need to look at other ways of financing their college educations. Maybe people need to start working right out of college, maybe they need to go to community college for a couple years instead of going to a major university for four straight years, maybe more people should consider staying in state.
There are ways to offset the cost, but it seems like while people put SO MUCH attention on what college they're going into and what they'll be studying that they just haphazardly take on loans without really considering all the potential long-term implications.
Not yet.
The hope for this thread was to challenge the central premise of your post: that the problem of student debt is a story of irresponsible personal spending habits.
It is striking that instead of situating student debt in the broader context of wealth and income inequality, you and so many others recite, line for line, the mantra of creditors and their ideological flunkies: It was not the lenders who recklessly expanded credit access irrespective of the income and employment stability of borrowers, but the grand aspirations of debtors. It is neither the program of everlasting indebtedness nor the usurious interest rates on private student loans that is the problem, but graduates who dare decide to buy an iphone to communicate, a car to travel, a laptop to network, and live in a one-bedroom apartment. How dare these people pursue such "luxuries" instead of tightening their belts?
This thread has revealed how non-elites such as yourself adopt the language and assumptions of folks who would have you serve as their serfs.
The point of this thread was also to consider repudiation as a strategy. On that note here are a few excerpts from The Debt Resister's Manual.
--On what it means to be in default
http://strikedebt.org/drom/chapter-four/
-Loans may be turned over to a collection agency
-Liable for potential collection and court fees
-Wages may be garnished
--Fed. Government may withhold part of your social security benefit payments.
**This last point is especially important given the withering away of a social safety net in the U.S.
--Given the securitization of student loans, how do I find out who or what owns my debt?
In general, see section "Know your loans": http://strikedebt.org/drom/chapter-four/
On private loans: http://www.finaid.org/loans/studentloans.phtml
Right, instead of understanding the pitfalls of borrowing let's be mad at the debtors.
Gee, shucks, they're not looking out for us. What a shock.
But I get it, we can't expect young adults or even ADULTS to fully appreciate the gravity of incurring debt.
It's far too much to ask of college bound individuals to do their research. Nope.
People can take exploratory classes, they can visit campuses, they can research what phone they want, what laptop they want, what clothes they buy, what they eat & the career they're going into BUT they cannot be asked to research student loans.
You can't repudiate something by buying into it and back pedaling after the fact. You're only furthering the problem. I guess if maybe EVERYbody defaulted on their student loans it'd make a difference, but as it stands you're likely only going to make matters worse FOR YOUR SELVES.
I'm totally with you on the "wealth and income inequality" thing, but handicapping yourselves isn't a viable approach. IMO more people need to look at other ways of financing their college educations. Maybe people need to start working right out of college, maybe they need to go to community college for a couple years instead of going to a major university for four straight years, maybe more people should consider staying in state.
There are ways to offset the cost, but it seems like while people put SO MUCH attention on what college they're going into and what they'll be studying that they just haphazardly take on loans without really considering all the potential long-term implications.
are your loans consolidated?I'm there too. best I could do was get Sallie Mae/navient to lower my interest to 3% from the 8-9.25% my loans have been for the past 4 years I've been out of school....
before negotiating my interest down (temporarily they say) I've paid back about $20K in interest and my $70K balance hasn't moved.
The only reason I've continued to pay and not default is for fear of not being able to own a home one day because my credit is shot.
However, for an entire generation to not be able to afford a down payment on a home or a decent car...
Something has to give eventually....
I don't gamble irresponsibly or have an addiction to crack... I went to college at a state university. No reason I should have to spend the rest of my life paying for it...
are your loans consolidated?I'm there too. best I could do was get Sallie Mae/navient to lower my interest to 3% from the 8-9.25% my loans have been for the past 4 years I've been out of school....
before negotiating my interest down (temporarily they say) I've paid back about $20K in interest and my $70K balance hasn't moved.
The only reason I've continued to pay and not default is for fear of not being able to own a home one day because my credit is shot.
However, for an entire generation to not be able to afford a down payment on a home or a decent car...
Something has to give eventually....
I don't gamble irresponsibly or have an addiction to crack... I went to college at a state university. No reason I should have to spend the rest of my life paying for it...
Let me clarify.SneakenHeathen is completely right.
As to your point about, "It is neither the program of everlasting indebtedness nor the usurious interest rates on private student loans that is the problem, but graduates who dare decide to buy an iphone to communicate, a car to travel, a laptop to network, and live in a one-bedroom apartment. How dare these people pursue such "luxuries" instead of tightening their belts? "
They charge under 8% interest. That's not "usurious" interest rates for federal loans (e.g., Direct Loans). There really is no need to take private loans unless you are unwilling to live within your means or to have a part-time job.
That is the problem - you do not understand that these are luxuries. As American college students we have a very unrealistic level of living during college. Which is fine, it's the best time of your life to have fun. Everyone is doing it so it'd be ridiculous for me to say that you an individual should overcome that sort of peer pressure. However, AFTER graduating real life should hit you and you should understand and grow up.
An iphone + plan is a luxury when you could easily spend 1/3rd of the cost and have the exact same thing (a smart phone).
A car is a luxury when it beyond your means to have that particular car. If you have to choose between a $75/month payment car and a $200/month payment car and you choose the latter you are doing it because you feel entitled to some asinine standard of life that society and your peers have drilled into your head during college.
Same with a laptop - it is a commodity item and can be had for less than $200. Getting the latest Macbook is a luxury.
And all of those combined have nothing on the biggest expense of rent. It is very easy to find 2 or 3 other people to share an apartment with and get your monthly rental cost below $600 in almost any part of the US. A 1 bedroom apartment is a luxury. Your 1 bedroom apartment in America is a better residence than 90% of what the world has. Sharing an apartment (and still having your own bedroom) for 6 - 12 months to get ahead of self incurred debt is not only responsible it is common sense.
To you this may seem unreasonable. To anyone that has traveled the world or isn't spoiled knows that asking someone just starting off in the work force to have this minor level of self responsibility is the bare minimum.
$75 on food in a 30 day month?My expenses aren't crazy high right now. But I just moved to LA and work freelance and part time, so my monthly income fluctuates from a lot to a little.
Had to blow my savings to cover expenses last month cuz work was slow.
EXPENSES:
Rent: $600
Carnote: $285
Electric: $20
Gas: $20
Internet: $20
Hulu: $8
Spotify: $5
Sling: $20 (cancel after nba finals)
Gas: $75
Groceries: $75
Loans: Deferment, setting up IBP.
Total: $1,137
Checking: $128.00
Savings: $48.00
Pending income (currently for June): $ 2,775
$75 on food in a 30 day month?
Jesus Christ I need to get like you.