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Will Biden cancel massive student loan debt? Suddenly, that's looking doubtful
Moneywise via Yahoo Finance ^ | 05/23/2021 | Clayton Jarvis

Posted on 05/24/2021 8:17:59 AM PDT by SeekAndFind

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To: qwerty1234

$38,792 is not a modest car loan when the median household income in the US is on the order of $55,000.


41 posted on 05/24/2021 10:32:37 AM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change with out notice.)
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To: Gnome1949

College graduates have worthless degrees that do not lead to decent-paying jobs
—————
Blame greedy companies, both large and small.

Two students at the University of Iowa, identical grades. One a white student from Davenport and the other a foreigner from Mumbai or Shenzhen

Companies get a 15% tax break to hire the foreigner

International students have scholarships not available to Americans

Most schools have whole departments to place foreigners in American jobs after graduation. No such support exists for Americans

Guess which one will be the Starbucks barista and guess which one will be working for Apple or Google upon graduation?

Guess which one will graduate with a shit-ton of student loans and which one will graduate loan-free?


42 posted on 05/24/2021 10:35:49 AM PDT by Starcitizen (So Indian H1B crybaby trash runs Free Republic moderation??? Seems so. )
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To: SeekAndFind

No.


43 posted on 05/24/2021 10:38:34 AM PDT by sport
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To: Crusher138

We paid off all our student loans; 2 MS, 1 MBA, 2 ASSOC in GFX. do we get reimbursed $10k?


44 posted on 05/24/2021 11:22:58 AM PDT by bravo whiskey (Count Rostov "The tyranny of inare redistinguishable days.")
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To: grey_whiskers

>>$38,792 is not a modest car loan when the median household income in the US is on the order of $55,000.

Average new car in 2021 costs $38K in 2021, no matter what the average household income is.

https://www.financialsamurai.com/average-new-car-price/


45 posted on 05/24/2021 12:02:06 PM PDT by qwerty1234
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To: Starcitizen
I was teaching electronics at a junior college from 1980 to 1983. $21/hour, T/Th, 6:30-9:30 PM. Evening work beyond my day job as a Toll Central Office Equipment Engineer at Pacific Telephone. Sufficient to finance my fixed wing, single engine private pilot license. I enjoyed teaching the class and the Regional Occupational Program that financed the position reported 91% of my students had been hired by IBM or DEC between 1980 and 1983. They were happy with the results.

I stopped teaching the class when I moved to a software engineering job inside the company. 24x7 support with on-call and a pager. There was no way I could get from the data center in Mira Mesa to Southwestern College in rush hour traffic on time...not to mention the commute burning up the income earned.

As a Toll COE living in Chula Vista, I boarded the San Diego Trolley at 5:20 AM and arrived at work at just after 6 AM. Return trip at 4:20 PM back to Chula Vista. Dinner and a commute to the college. The transportation arrangements and job commitments changed with the new job at the data center.

46 posted on 05/24/2021 12:14:57 PM PDT by Myrddin
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To: qwerty1234
I was floored when I needed to replace my 2008 Mercury Mariner Hybrid in early 2016. We got a pretty good trade-in value, but the 2015 F150 CrewCab was still $42k. They really wanted to make a deal and the 1.9% financing sealed it. We have one payment of $500 left on the loan next month. The odometer has 65,000 miles.
47 posted on 05/24/2021 12:29:55 PM PDT by Myrddin
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To: qwerty1234

Uh huh. Just like the average net worth of me and Bill Gates is $50 billion.

You should be looking at the median.


48 posted on 05/24/2021 12:43:16 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change with out notice.)
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To: SeekAndFind

Paying off my student loan I stupidly took out while I was in the Army in 1983. NRI correspondence course. Battery NCO didn’t approve, so I stopped the course. As a 17 year old, didn’t think much of it. 37 years later got a nasty garnishment letter from Navient. That $1000 loan ballooned to over $35919.

No contact, letters, was able to take out and fully pay off other student loans. nothing on my credit report from 1984 to 2020. Luckily I’m officially unemployed, and my job income is all overseas. Been paying it off $5 a month. So it’s in good standing. Won’t pay it off and don’t care.


49 posted on 05/24/2021 1:17:16 PM PDT by Starcitizen (So Indian H1B crybaby trash runs Free Republic moderation??? Seems so. )
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To: Myrddin

I was teaching electronics at a junior college from 1980 to 1983. $21/hour….

——————
Damn, most schools don’t pay much more that that now… $21 to $66 an hour currently at Palomar College based on Glassdoor (I attended there back in the 1990s)


50 posted on 05/24/2021 1:21:21 PM PDT by Starcitizen (So Indian H1B crybaby trash runs Free Republic moderation??? Seems so. )
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To: SeekAndFind

Imagine that! A Democrat breaking a promise!


51 posted on 05/24/2021 1:23:53 PM PDT by Lazamataz (I feel like it is 1937 Germany, and my last name is Feinberg.)
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To: qwerty1234

My sister was against loan relief from the moment she made her last payment, before that she was militant about school loan forgiveness and LGBT issues. Now she has paid the loan, and guess what - so should every other democrat too.


52 posted on 05/24/2021 3:26:16 PM PDT by Jumper
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To: SeekAndFind

I have a car loan of about $10 grand. Please cancel that.


53 posted on 05/24/2021 3:42:30 PM PDT by minnesota_bound (I need more money. )
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To: SeekAndFind

Nor legal !

But its Rats what’s a little illegality !


54 posted on 05/24/2021 3:54:56 PM PDT by Reily
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To: woodbutcher1963

Actually it surprising even for big name schools how few of their sports programs make money. Many have to have an annual infusion of taxpayer funds to keep the cheering going.


55 posted on 05/24/2021 4:00:05 PM PDT by Reily
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To: Starcitizen
That $1000 loan ballooned to over $35919.

This is one instance where government regulation could be a good thing.

This insanity happens to many folks who, for one reason or another fall behind in payments.

Penalties and interest should be regulated to allow for some incentive, but not to grow to high amounts, way bigger than the original loan.

56 posted on 05/24/2021 4:16:01 PM PDT by Mogger
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To: SeekAndFind

Too bad, suckers. The government needs the money more than you. Besides, you can afford it. You have college degree.


57 posted on 05/25/2021 11:09:53 AM PDT by rxh4n1
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