Can student loan debtors file for bankruptcy?
Yes –
https://www.nolo.com/legal-encyclopedia/student-loan-debt-bankruptcy.html
It was very racist to give her the $203,000 loan she asked for.
I’m thinking she didn’t study math!
No worries Richelle, because of your racial status, your kids will probably go for free.
Now pay back your debt, freeloader wanna-be!!
I didn't go to the college I wanted to go to because I didn't want to be shackled with debts and have to pay them back. I starved my way through college. Now I have to pay off your debts??? Feels like enslavement to me! And YOU are the enslaver!
“With the burden of student loan debt, saving money for the future is not a luxury for many Black borrowers.”
____________________________
So sez the last sentence of the excerpt. Ah the illogic and illiteracy.
Saving money for the future (as opposed to the past) is not a luxury for anybody. It’s an effort. Involving sacrifice. Dedication. Determination. Discipline.
“for many black borrowers”? No, for any. Or for white borrowers, as pointed out elsewhere. Race really has nothing to do with it.
Here’s a plan that many (or maybe just a few smart people) have adopted to pay of mortgages, credit card debt, and, yes, student loans:
1. Make as big a payment as you can to bring down the principal each month.
2. Make these payments a priority. Never fail to make a payment, thus never incur penalties or higher interest rates.
3. In addition, always strive to save regularly, even if only a (ridiculously) small amount.
4. Every time you get a windfall of cash or refunds of taxes, say, double your payment on the principal, add a bit more to savings, and treat yourself in a small way—hey, no harm in celebrating successes.
5. Avoid running up other bills on (here it comes) luxury items like new cars, top-end phones, cigarettes, drugs, weekly nail salons, and such.
6. Pay off high-interest bills first. THEN. And always, apply the amount of the saved payment to another liability.
Do these simple things and you can pay off a 30-year mortgage in 12 or 15, get completely out of credit card debt, and get rid of that student loan obligation.
THEN. Save(and invest) as much as you can. Always pay off credit cards monthly in full. Enjoy a few luxuries. Sweet, huh?
As I say, it’s not a racial thing. Call this plan white privilege if you like. If so, feel free to culturally appropriate. It’s a smart thing.
But Don’t. Ask me to pay for your $hit.
If you have to have the empty credential of an Ed.D. there are probably much cheaper ways of getting one. Cal State, where she went, charges more for education credits than for credits towards some other degrees.
Don’t know the situation in the US, but in Canaduh, to teach in a school, all you require is a Bachelor’s degree in ‘edjumacashun’, a Bachelor’s degree and a two year teaching degree, NOT a Master’s degree and certainly NOT a PhD! (Incidently, an acquaintance of mine calls a PhD, ‘pile higher and deeper’.)
Given that this ‘big momma’ is only 35, it sounds like she did not enter the workforce until completing ALL her advanced ‘edjumacashun’, all $240,000 of it! IF she were that bright, would she have not gotten scholarship(s), especially for her doctorate?
When I went to HS, in the late 70s, I attended the largest HS in Ottawa. The Principal had a M. Ed., but he obtained it, going to university at night, while TEACHING! At that time, only a few Principals even HAD Master’s degrees, let alone PhDs!
MOST people (at least the ‘less than wealthy’) will work after their undergrad degree, gain experience, and then pursue their Master’s, perhaps taking a LoA, or pursuing it at night. The wealthy can afford to do the ‘whole schmear’ all at once, courtesy of the ‘bank of mommy and daddy’. Those without the resources, do not.
There is an old saying, ‘Those who can, do. Those who can’t, teach.’ This story reinforces that old saying. I have no sympathy for her, only for her children, that have such a mother.
It is not ‘racism’ that is holding her back, it’s her own STUPIDITY!
And today she’s a school principal. 🤡🤡🤡
I see no one bothered to post the “tiny violin” photo. If I had it, I don’t think I would bother to post it either.
#NotEvenTinyViolinWorthy
She should have better “planned for her future” years ago. She made plans and pursued those goals. It’s not my fault her plans were faulty.
At no time in her college years did she take a look at the amounts of money she was borrowing and think, “Wow, is the path I’m on going to allow me to pay that debt?”. Nope. She just kept on borrowing with her final plan being to have someone else pay for her mistakes.
GibMeDat!
From the article: “My hope is that if my student loan debt balance is canceled, I can start saving for them and planning for their future,” she said. “But I’m also hoping that we can get a free college education so that I don’t have to also worry about how to finance their future either.”
There’s the Money Shot... her ‘hope’ is that the kids get free college education...
Wheteher or not that happens, it’s clear that most colleges have endowments that could be applied ot tuitions and costs, but they choose not to so apply them.
There are alternatives to borrowing, IMO. Smaller course loads, lower fees, apprenticeships that cover some or all of the costs. And so forth...
Big College fat cats are laughing. My wife’s father spent $210 PER YEAR to go through City College of New York. She spent about $450 per semester. Now it is about $15,000.
Principals of schools, make $150K a year with benefits. Maybe she should have gone to CC, then took 2 years of college to become just a teacher. I don’t care if she chokes on her debt. How much was used for spring break, Christmas for kids, trips to Mazatlan etc?
-——Single Mother——
To be a single mother is a self imposed tragic condition.
Anyone racking up loans like that for nothing is no scholar and those loans were a waste of 240K. What did you really spend that money on lady? Livin’ large I would guess.
Heck with you woman.
How much does a principal in the LA school system make?
Richelle retains her African roots that disallow functioning as an assimilated American
Being unassimilated is in fact enslavement by her African values that take a village
Cultural analysis
And screw those lowly dogs who have to pay her debt.. (spit)