Posted on 03/22/2022 7:12:16 AM PDT by grundle
Question: My student loans are over ten years old, I’m not working in the field I have the degree in, and one of the schools has closed. I can’t afford to retire – I’m 67 years old and can’t live on Social Security alone. I have paid and had garnishment against me and now it’s three times what I borrowed. I’m expected to pay $600 a month. I can’t afford to feed myself. What can I do?
(Excerpt) Read more at marketwatch.com ...
I don’t believe this story.
They guy got the loans when he was 57 years old and then decided to retire?
How can you be 67 and still have student loan debt, other than decades of bad choices? I graduated with 20k of student loan debt and had it paid off within 7-8 years before I was 30.
Finishing a college degree in your 50s is not financially intelligent. You will not have enough time left in your career to recoup the investment.
Don’t look to me to pay your loans. I had a real major in college. I worked year around when I was in college to pay for college. I had minimal college loans. I worked in the field of my major and I paid those loans. I am not responsible for others irresponsibilities.
You are 67 years old and you have student loans?
Um, either you are incompetent or you are irresponsible. In either case I am sure you are Democrat.
“They guy got the loans when he was 57 years old and then decided to retire?”
Correction: he can’t afford to retire.
Also
“I’m not working in the field I have the degree in”
So is he trying to say because of that he shouldn’t have to pay back the loans??
Who’s fault is that?
“I can’t afford to feed myself. What can I do?”
Drop out. Become homeless. Move to California. Go on welfare. Tell them to send your student loan bills to your tent in Hollywood, then use them for toilet paper.
A huge % of student loan debt is PLUS loans—loans parents take out for their children to attend college. So there are plenty of seniors paying student loans. . .
I’m not in favor of assisted suicide, but it seems the best option in this case.
Get ready for the flood of Boomers who will give you some version of “just tighten your belt”, when in reality education when they went to school cost nowhere close to what it does now in real terms. AND the laws were changed so that student loans are the only kind of debt you cannot discharge in bankruptcy.
Yes I get that some students do make some bad choices....then again, they are young students. They’re going to make some bad choices. That is the nature of being young. The real problem here is politicians thought it would be a vote winner to guarantee everybody could go to college so lots of people went and we do not have enough jobs that require a college degree and of course those very same politicians let in a flood of H1bs to fill a lot of those jobs because they are cheaper and simultaneously, universities saw they could charge ever higher prices since the government was backing up student’s ability to borrow money.
In other words there is a lot wrong here that is the government’s fault and the universities’ fault rather than the fault of the 18-23 year olds who go to school. The latter are often the victims of this whole mess.
But unfortunately, we can’t point any of this out because this issue is caught up in generational warfare.
Let me guess—your degree was in Women’s Studies, or Sociology, or some “fun” humanities curriculum? For this, you borrowed thousands upon thousands of dollars, which you used to live on while pursuing your degree, instead of working to support yourself while attending school. Now, your spendthrift habits have caught up with you. Well, good luck with that! I’m so glad I studied Accountancy in college—I was never without a good paying job. All of my student loans were paid back twenty years ago. I am retired and receive social security, plus annual distributions from my 401 K that I funded while working those tough demanding jobs that paid well.
Simple...go to Mexico, throw away your ID and learn enough Spanish lingo to fit in, then come back into the US as an illegal. You’ll get all kinds of free stuff that actual citizens can’t get.
I saw a post on Tweater trolling Squaw Warren urging her to pass a law allowing student debtors to sue the SCHOOLS for excessive tuition costs.
We'll, this seems to be a clue.
Asked the grasshopper of the ant. Aesop has been unfair to me!
It is imperative to know this tale, because the end of the fable is that the ant refuses. So may we all refuse such fools.
Pay your bills and shut up. You tried to play the system, but lost, now pay up.
The world needs ditch diggers...but not 67 Y/O ones.
Looks like Gramps is screwed.
Bwahahahaha.....!
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