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Meet a student-loan borrower with $101,000 in debt who doesn't have 'any hope' with Biden's new plan for loan forgiveness: 'I'm never going to be able to pay it down'
Business Insider ^
| 7/09/23
| Ayelet Sheffey
Posted on 07/09/2023 9:20:37 AM PDT by Libloather
click here to read article
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'Borrowing' means paying it back. Jarrett should've learnt all that in collich.
To: Libloather
2
posted on
07/09/2023 9:23:57 AM PDT
by
StAnDeliver
(Tanned, rested, and ready.)
To: Libloather
Why haven’t we heard of even one of these damn schools offering to refund at least half of the money back to their students. They don’t give a ****, that’s why.
3
posted on
07/09/2023 9:26:30 AM PDT
by
FlingWingFlyer
(A man in NM is killed over a movie theater seat. The azhos in The Swamp think guns are the problem. )
To: Libloather
He earns “five figures”, a minimum of $100,000 bucks. Student loan interest is typically 5%. The monthly payment on $100,000 of student debt at 5% and 20 years is $660/month or 7920 per year. Less than 8% of his income.
He will never be able to pay that back, if he doesn’t try.
To: Libloather
Jarrett, 38 should have gone to tech. school and become a plumber.
He’d be very comfortable by now.
To: Libloather
Now I know why he ( Jarrett Smith) remains anonymous . He is an idiot.
After earning an MBA he does not even understand the term “discharge of debt.”
He is looking for a way not to pay?
While others worked hard to pay ?
I reckon Jarret anonymous is a mamber of the “privileged class” that now runs Washington DC and that is destroying America.
Whoever is paying him now, is paying him far too much.
6
posted on
07/09/2023 9:28:31 AM PDT
by
Candor7
(( Ask not for whom THE Trump trolls...He trolls for thee!)<img src=""width=500></img>)
To: Libloather
[[’I’m never going to be able to pay it down’]]
Quit yer lyin jarrett- you can pay it back- you just don’t want to
7
posted on
07/09/2023 9:31:21 AM PDT
by
Bob434
To: Lonesome in Massachussets
He earns “five figures”, a minimum of $100,000 bucks. That's 6 figures.
8
posted on
07/09/2023 9:31:33 AM PDT
by
TangoLimaSierra
(⭐⭐To the Left, The Truth is Right Wing Violence⭐⭐)
To: FlingWingFlyer
Nope. And nary a whimper from The Party Of The Little Man about Big Ed price gouging. Guess it all depends wh9se ox is getting gored
9
posted on
07/09/2023 9:31:49 AM PDT
by
Still Thinking
(Freedom is NOT a loophole!)
To: Lonesome in Massachussets
“Five figures” is less than $100,000.
10
posted on
07/09/2023 9:32:17 AM PDT
by
Fido969
(45 is Superman! )
To: Libloather
Sorry to disagree with you all - these loans should be illegal.
11
posted on
07/09/2023 9:33:21 AM PDT
by
Jim Noble
(Make the GOP illegal - everything else will follow)
To: FlingWingFlyer
12
posted on
07/09/2023 9:33:28 AM PDT
by
Track9
(You are far too inquisitive not to be seduced…)
To: Libloather
1) Its definitely a slog, but tons of people have paid off that much and more.
2) Why did you BORROW money that wouldn’t ROI? Sounds like you made your own problem.
13
posted on
07/09/2023 9:33:54 AM PDT
by
Still Thinking
(Freedom is NOT a loophole!)
To: Lonesome in Massachussets
He earns “five figures”, a minimum of $100,000 bucks.
Uh, no! SIX figures is a minimum of #100,000 bucks.
The student loan fiasco was never set up correctly. Should've been like a mortgage. Your intended degree better have a chance of paying off.
Article doesn't say what undergraduate degree ole' Jarrett has. An MBA by itself isn't worth much to me (IMHO). It's the combination of the undergrad + MBA that's worthwhile.
14
posted on
07/09/2023 9:34:57 AM PDT
by
BikerJoe
To: Libloather
They should never have made the student loans exempt from bankruptcy. I'd be okay with treating them differently, because they are loans taken with the expectation of a long term payback.
- Make other loans dischargeable before student loans.
- Maybe cap student loan payments at 5% of income.
- Make subsequent student loans secondary to prior student loans. So the most recent loans are the first to be discharged.
- Make institutions partially responsible.
15
posted on
07/09/2023 9:35:02 AM PDT
by
DannyTN
To: Jim Noble
Oh most certainly. But the predators should clean up the mess, not the taxpayers.
16
posted on
07/09/2023 9:35:05 AM PDT
by
Still Thinking
(Freedom is NOT a loophole!)
To: Libloather
All that education and he didn’t learn the definition of “impossible.”
17
posted on
07/09/2023 9:35:40 AM PDT
by
subterfuge
(I'm a pure-blood!)
To: Libloather
18
posted on
07/09/2023 9:36:33 AM PDT
by
DFG
To: Jim Noble
These loans should have the college as cosigner and the student being able to discharge in bankruptcy.
Suddenly, colleges would STOP admitting unqualified students and stop offering worthless courses.
19
posted on
07/09/2023 9:36:35 AM PDT
by
SauronOfMordor
(The rot of all principle begins with a single compromise.)
To: Libloather
20
posted on
07/09/2023 9:37:57 AM PDT
by
brownsfan
(It's going to take real, serious, hard times to wake the American public.)
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