Posted on 08/28/2022 8:45:54 AM PDT by grundle
Ash, a 34-year-old accountant from Connecticut, graduated from college in 2009 year with more than $100,000 in private loans, she says.
Still, she thinks of herself as relatively lucky. With the help of her husband, who didn't have his own student loans, they managed to pay them off in March 2022, after 12 years of making sacrifices so they could afford the monthly loan payments.
Even if Ash, who asked Fortune not to share her last name to protect her privacy, hadn't completely paid off her loans earlier this year, she wouldn't have benefited from Wednesday's student loan forgiveness announcement. There will be no relief for the roughly 2 million private student loan borrowers. The Biden-Harris Administration's debt forgiveness plan wipes out $10,000 in federal student debt for borrowers making less than $125,000 a year, and up to $20,000 for those with Pell Grants.
Ash is frustrated by the news and the limitations of Biden's forgiveness program.
"Why aren't there resources to help those with private loans get forgiveness?" Ash says. "It's like I was told that if I went to college I'd be able to get a good job and support myself and family, and that's just not always true in our current environment."
When she looks at all the money she paid to free herself from the shackles she felt her loans put her in, she thinks of all the other places that money could have gone and how different her life could have been: "I could have bought a house. My situation could have been different."
(Excerpt) Read more at finance.yahoo.com ...
Well said, and spot on.
They love to prop themselves up by giving ‘the little people’ the shirt off of someone else’s back.
Plus they don’t pay taxes as 501c orgs
From what I read here over the years, you’ve described a bunch of Freepers, maybe even yourself.
The only difference among the Freepers/engineers might be total amount borrowed. Summer jobs weren’t able to keep up with the 1970s inflation in tuition and fees. And back then, any engineer who then went to grad school and was an American citizen - could get a full ride at one or more schools. Grad school was not a life of luxury, but one did not need to borrow any more money, and possibly save a few bucks to buy a suit and get a haircut for the eventual interview.
folks AGREED to the contracts for the loans to pay them off- noone who went through college to get degrees, or who flunked out or whatever ‘deserves’ to be relieved of their contract obligations anymore so than others deserve to have their bank debts relieved because they are having trouble paying them back- or have their car payments nullified, or whatever-
Biden is sending the message that contracts don’t matter-
Lol at tatted purple haired losers....
Yes, I did mean voters who never took out student loans in the first place.....”plus the voters who now have to pay off loans that they had nothing to do with.....”
> she thinks of all the other places that money could have gone and how different her
> life could have been: “I could have bought a house. My situation could have been different.”
Loans are only part of the problem. The cost of the school is higher than the benefit.
“Did I mention he is a dyed-in-the-wool liberal?”
No you didn’t, ... but one could have made an educated guess and been right. My mponey is on the bet that the grifter with a degree probably did not get an engineering degree either.
Sucker!! Biden’s deadbeat student loan executive order should be called the Sucker order to denote those who paid off their loan and did not get a chance to ride the free pony. Hopefully, Biden will lose more votes from these responsible poor souls than he has bought from his army of gimmestuff deadbeats
Sucker!! Biden’s deadbeat student loan executive order should be called the Sucker order to denote those who paid off their loan and did not get a chance to ride the free pony. Hopefully, Biden will lose more votes from these responsible poor souls than he has bought from his army of gimmestuff deadbeats
“contracts don’t matter”
They certainly don’t. Look at the eviction moratoriums that continue to this day in BLUE cities.
“Today he lives rent-free, with his elderly widowed mother. “
When I was a young, I would have died rather than move back in with my parents. As a result of this fear, the first new car I owned was in 2010, bought when I was 56. For my entire life I bought or was gifted the families’ twenty-year-old cars that were not wanted by the dealerships. I kept them going with every weekend maintenance. I always lived well below my means. Then, during the 2008 real estate madness, I sold my house for enough extra to pay cash for a dilapidated doublewide on acreage in the woods. For the first time I was truly happy with where I was and debt free.
Everyone I knew considered it a huge step down. I considered it a huge step up. And the neighbor lady would bring over possum or coyote chili that tasted of whatever brand cigarette was currently cheapest at the local Jiffy Mart. Paradise. Oh, did I mention it was on Lake Talquin?
The trick to the chili was to never ask what it was made from.
He has BA, MA degrees.
This BS with college becoming so expensive was when the stinking government took over the loans for school THEN convinced everyone you were a second class citizen without a USELESS degree!! I honestly can’t believe just how STUPID these college grads are!! Can’t make a decision without group think, not a lick of common sense!!
The “contracts” message you write about is only picked up by people like you who understand the real world.
Xiden is sending a different message. The demonkkraps aren’t sure the fraud and rigging machine can overcome the MAGA base
- therefore I am buying your votes with public money. [I] can’t pay off the full amount because [we] may need to buy some more votes with student loan $$$ in ‘24.
The taxpayers in this country are the ones that need relief.
The taxpayers in this country are the ones that need relief.
Sounds wonderful! Well, except maybe the coyote chili.
I can’t imagine Penn State’s diversity payroll. I’m sure it greatly exceeds both UM and tOSU’s.
The only thing worse than forgiving loans to under 125k who still owe would be forgiving them to those over 125k who don’t owe, too.
We can’t afford either.
Not too long ago there were many articles how student loans were so essential because the average college graduate would earn more over a lifetime and contribute more to society, pay a larger share of the progressive tax burden, etc etc.
Funny how things change, no?
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