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 ...
I don’t want to click on the link.
Did he major in Gender Studies, or Puppetry?
Poster child for why there should be NO student loan “forgiveness”!
You should have learned a trade doofuss. Like plumbing. Plumbers do fantastic.
Why did you borrow it?
With a minor in underwater basket weaving.
And what subject did you study, to earn that bachelor's degree?
Another $70,000 or so came with my master’s degree.
And what subject did you study, to earn that master's degree?
Well?
Why don't you put that information up front?
Close. Afro-Haitian Dance.
What could this person posibly have been thinking??
“I have $235,000 of student debt.”
Your are Dumb
“I make just under $4,000 per month”
I did too, 30 years ago, but I was not saddled with a college degree.
For future reference, don’t borrow to go.
You took on the debt.
You pay for it.
Yeah, but idiots like this vote.
They need to garnish their income.
No doubt will be a Fake Indian supporter.
F**k this kid. Am I supposed to give a sh*t about his poor decision making? I worked full time all year round when in college and paid my debts.
What they need to do is convert the interest from compound to simple. Then people can pay it off and the gov makes money instead of pretending a loss.
If a person can’t make basic living expenses on 4k/month, try doing it on 750/month.
Should sue the university.................
As opposed to the rest of us who took 21 hours/semester and went year round without fluff classes to finish in 3 years
(back before AP got you a year done in HS) and had a part time job to help pay for it.
How the hell you you amass 30k a year in debt from an in-state public U? Did he never have a job at all?
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