Posted on 10/31/2022 5:17:44 PM PDT by grundle
A masters degree and still can’t figure out how to repay a loan..
$110,000 in student debt
“I never miss a payment, always on time, and yet my balances never go down. I don’t understand how people can’t see that there is something wrong with that picture.”
“dream school” for a master’s in journalism
“I was paying $300 a month, I think, for three to four years, and my balances never went down. They always went up.”
I feel sorry for people who are SO incredibly stupid about basic finance. It’s a huge failure of the high schools, colleges, and mom & dad.
Dad made me go to Junior Achievement in high school and it was a great foundational course on economics and P&L. Then I took Engineering Economics in college which gave me a good foundation in project finance.
But she was EXTRA stupid to get a degree in journalism. The average pay for a “journalist” is $49,000. After basic living expenses, housing, car, gasoline, utilities and taxes, there isn’t much left over to service debt.
Perhaps she should have thought about that before amassing such a huge debt for a useless degree.
What sort of loan allows negative amortization?
That’s nothing.
Friday a family of 8 died in a murder suicide over student loan debt.
By John Dobberstein, Editor
When last weekend arrived, a cool rain settled over Broken Arrow after a horrific tragedy left many residents numb and in disbelief.
Trick-or-treat parties, church services, a band competition and other activities carried on, but clearly the violent deaths of 8 people just a few days ago was on people’s minds.
The Broken Arrow Police Department still put on its Safety Spooktacular, one of the department’s biggest events of the year, in the Rose District less than a mile from the scene of the deaths. Tributes were made to first responders and city leaders offered up a prayer of healing.
At 425 S. Hickory Ave. at the crime scene, yellow tape had been pulled away over the weekend. The television cameras, police cars, utility trucks, fire engines and broken string of vehicular gawkers were gone. The only sign that remained of the horrific deaths of 6 children and 2 adults was a charred white shell of a house.
Tragedies often bring an outpouring of memorials and gifts where someone has perished, let alone where several children were killed. But sadly, the only thing seen Sunday evening in front of the house was a single pot of flowers sitting under a tree. There were no signs, candles, crosses, pictures, stuffed animals or other memorabilia.
The husband and wife who perished were Brian Anthony Nelson, 34, and Britney Nichole Nelson, 32. They attended high school together and had been married since 2008. Police identified them as the “suspects” in the killings.
As of Sunday night Broken Arrow police had not officially released the names of the children who died. But the Tulsa World reported they were 13-year-old Brian II, Brantley, 9, Vegeta, 7, Ragnar, 5, Kurgan, 2, and Britannica, 1.
Financial burdens
The Associated Press, via the Tulsa World, reported that Brian Nelson’s parents, Danny and Marilyn Nelson, received a call Thursday afternoon, the day of the fire, asking if they could babysit their grandchildren around 5 p.m.
“Five came and went. Then it was 6. I texted them — no responses,” Danny Nelson told the Tulsa World. “I turned on the 6 o’clock news, and they said there had been a fire near Hickory and Galveston in Broken Arrow. That’s where my son lives.”
Over the past few days, media reports and a review of federal bankruptcy records indicated that Brittney and Brian were not employed and living mostly on public benefits, feeling the pressure of medical and financial problems.
A chapter 7 bankruptcy filing from 2020 shows they had more than $137,000 in debt, most of it in student loans. They were not paying rent, taking assistance from the Oklahoma Housing Authority.
The AP reported that Brian Nelson experienced recurring pain after suffering a concussion while stocking dairy refrigerators at a large retail chain.
“I want people to know that at one time he had all his brain together,” Marilyn Nelson told the Tulsa World. “I just don’t understand why they did what they did.”
When firefighters descended on the residential fire at 4:05 p.m. last Thursday, all the deceased children were found by in a bedroom in the back of the small house.
For updates, subscribe to our free newsletter!
Medical examiners are working to determine the cause of death for the victims, although Broken Arrow police and fire investigators said it didn’t appear they died from the fire itself. Several firearms were recovered from the home but police have not confirmed if the manner of death for the victims was gunshots.
‘Tragedy of a lifetime’
While the lives of the victims have ended, first responders to the scene will continue to deal with the shock of what they saw last Thursday. They stalwartly worked a complex crime scene Thursday and Friday in the face of unimaginable death and destruction.
“To arrive scene and see the look on our first responders’ and our firefighters’ faces, it absolutely broke my heart,” said Broken Arrow Fire Chief Jeremy Moore said this past week. “No one should have to face this kind of tragedy and our firefighters do face this from time to time. We definitely learned some strong lessons in this community about facing tragedies such as this.”
Moore said the department immediately starting setting up counseling and peer support teams at the scene Thursday to help first responders and their families deal with what they witnessed.
“We know this can have traumatic effects on individuals throughout their life and it can have a cumulative effect too,” Moore said. “It’s a once in a lifetime tragedy.”
On Sunday night, a beautiful rainbow appeared from horizon to horizon. Perhaps it is a sign that the residents of Broken Arrow, family members of the victims and those involved in the response and investigation can move to the path of finding answers and healing.
I do see something wrong with that picture.
Why isn’t she paying her loan off faster to bring down the amount owed? I see someone who has no clue about the loan terms she signed a loan contract for. Its not the banks fault your borrowed so flipping much money and had no idea you’d have to pay it back. Its not a flipping birthday gift.
If the bank would have stopped loaning her money she’d have screamed they were killing her education and job future.
I had my loans to pay back during the crap Clinton years of the early 90s. I prioritized and made double payments to get that debt off my back.
Her balances certainly are not going up now, as accrual of interest has been suspended for over two years.
The number one hirerer of journalist majors at the present time is Starbucks. I see by her hair she’s all ready to work there.
Very true. The crime is the loan itself. If you give her a mortgage, at least there is some collateral. A loan for a degree that is essentially worthless has no such security. Make the school accept some level of liability and enrollment in trash degrees would crash.
“Journalism degree. LOL. N”
$90k a year
There is a legislative fix to the problem of student debt overload. Cap the amount of loans to four times the projected annual earnings of the student’s major minus cost of living.
Rainbow colored hair is always a red flag.
<< At the end of her time in school, she was hospitalized for dehydration... >>
The horror of what she has been through.
They should do a three part documentary on her.
Another example of why Leftist sites took down comment sections. They can’t deal with reality, can’t debate, can’t meme...but that pic of that hog is a good start.
rejecting them other than their highlights
Because in many cases, the hair care is the ONLY thing going good.
If that would have been a car loan, a $300 a month payment would have had the car repossessed .... payments should have been triple that.
The purple hair should make inroads with Company’s paying good money looking for new hires.
“Anyone with hair that color is too stupid to do math.”
Hey, at least she doesn’t have a nose ring (yet)🙄
For years I’ve been telling my now teenage son that unless he truly, desperately needs to go to university to study something like engineering, medicine, or the hard sciences (including mathematics) then he’s better off learning a trade (including IT).
People who rack up huge debts to study the history of the history of Marxist-feminist historians or underwater basket weaving are not just dumb but are near criminal as they take away resources to train more engineers, scientists, and medical professionals.
Even if there was no interest it would take her 27 years to pay that amount off at $300 per month.
Purple hair = Xiden voter
It doesn’t seem to say where she went to school (but in California). She had $18,000 in debt when she got her undergraduate degree in journalism so most of the debt was accrued while going after her master’s degree. If she was so determined to get a master’s maybe she should have worked for a while to pay off the undergraduate debt first, then found a cheaper university to attend to earn her master’s.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.