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How Debt Can Destroy a Budding Relationship
NY Times ^ | September 3, 2010 | RON LIEBER

Posted on 09/08/2010 5:19:39 AM PDT by STONEWALLS

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....when my daughter was in law school, I rented a town house for her to live in...most all her neighbors were law school, med school and dental school students...I couldn't figure out how they all seemed to be driving new BMWs...my kid was driving a 9 year old Toyota...my daughter says "well Dad, they don't want to wait until they go into their practice...they want a hot car right now....and the lenders figure that they'll eventually be good for the loan because they're going to make big bucks soon"...I think that a lot of the huge debt these kids rack up is for living expenses, not tuition.
1 posted on 09/08/2010 5:19:41 AM PDT by STONEWALLS
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To: STONEWALLS

“studying for a bachelor’s degree in photography”

She racked up $170k for a degree in photography?????? Just goes to show you don’t have to be smart to have a degree.


2 posted on 09/08/2010 5:23:27 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: STONEWALLS

So they get to keep their BMWs even though they’ve defaulted on the loans?


3 posted on 09/08/2010 5:23:55 AM PDT by luvbach1 (Stop Barry now. He can't help himself.)
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To: STONEWALLS
“But if I was lying, I was lying to myself, not to him. I didn’t really want to know the full amount.”

Smart move by the fiance, dumping this woman. A person who is consciously lying at least knows what reality is, but a person who can't or won't recognize reality means a lifetime of loony tunes.

4 posted on 09/08/2010 5:26:38 AM PDT by Tax-chick (I'm on vacation. Posts, if any, will probably be silly. You been warned! Fins up!)
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To: STONEWALLS
“He accused me of lying,” said Ms. Eastman, 31, a San Francisco X-ray technician and part-time photographer who had run up much of the balance studying for a bachelor’s degree in photography.

.....but she takes such great X-Rays!

5 posted on 09/08/2010 5:28:17 AM PDT by Roccus (......and then there were none.)
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To: luvbach1
So they get to keep their BMWs even though they’ve defaulted on the loans?

Compliments of...you and I. It's how the "entitlement plan" works ;p

6 posted on 09/08/2010 5:29:08 AM PDT by Jane Long (America, while you were sleeping the Socialists took over.)
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To: driftdiver
OMG!! $170,000.00 DEBT to be a Photographer!!!! WHERE are her PARENTS??? Didn't they ADVISE her??? Especially a DAD should know better.

WHen...WHEN are Americans going to MARCHING ON COLLEGES???? Bernie Madoff has NOTHING on these RIPOFF Colleges!!

7 posted on 09/08/2010 5:30:01 AM PDT by Ann Archy (Abortion......the Human Sacrifice to the god of Convenience.)
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To: Tax-chick

I did something similar, choosing to break it off with a woman that had a large debt, and a continuously mounting one at that. SORRY, but that does not bode well for the future, it is a predictor of future behavior, just ask the credit agencies.


8 posted on 09/08/2010 5:31:41 AM PDT by runninglips (Don't support the Republican party, work to "fundamentally change" it...conservative would be nice)
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To: driftdiver

Sounds to me like the fiancee was right in his decision to break it off.


9 posted on 09/08/2010 5:31:57 AM PDT by VA_Gentleman ("Poor Al Gore. Global warming completely debunked via the very internet you invented." -Jon Stewart)
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To: STONEWALLS

He was willing to take her for better or for worse - but not for $170K in the hole!

Smart guy. She was and still is in denial, and that isn’t just a river in Egypt. $170K in student debt for a “degree in photograhpy”, she is 31, and she is an X-ray assistant?


10 posted on 09/08/2010 5:32:11 AM PDT by silverleaf (Those who can make you believe absurdities can make you commit atrocities.)
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To: STONEWALLS

Actually, this could be a blessing in disguise. Its good to know up front if your partner will stick with you “for worse”. A long time ago I read a (semi-humorous) article that advised young men to pretend to their fiances that they had lost their jobs and were broke. If their finance left, then good riddance. But, if they stay with you, then you know they’re the one.


11 posted on 09/08/2010 5:34:15 AM PDT by rbg81 (When you see Obama, shout: "DO YOUR JOB!!")
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To: driftdiver

My dentists daughter just graduated from Florida State with a degree in social work.
They put $120,000 in to her education so she can get a job making 13,500 a year as a social worker. She still owes $60,000,
When my kid was born the wife and I started paying in to the prepaid college fund here in Florida. He is in his final semester, has lived at home his whole college life and when he gets out with a business degree he will owe zilch, nada.
The best gift his mom and I could ever have given him.


12 posted on 09/08/2010 5:36:17 AM PDT by Joe Boucher ((FUBO))
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To: Tax-chick

Who wants to spend the rest of their life with an irresponsible wastrel who has no conception of personal integrity?


13 posted on 09/08/2010 5:37:31 AM PDT by SMARTY ("What luck for rulers that men do not think." Adolph Hitler)
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To: STONEWALLS

When you marry someone you acquire all their debts. Starting off a marriage with that much debt is a really bad idea.


14 posted on 09/08/2010 5:37:43 AM PDT by Leftism is Mentally Deranged (Annoying liberals is my goal. I will not be silenced.)
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To: STONEWALLS
How Debt Can Destroy a Budding Relationship

BWahahahahahahahahahaha! I am sure the author didn't intend it but this is exactly what happened between the "one" and the American people.

15 posted on 09/08/2010 5:37:50 AM PDT by raybbr (Someone who invades another country is NOT an immigrant - illegal or otherwise.)
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To: Ann Archy

170k in debt that cannot be discharged thru bankruptcy.

the colleges and the banks have a great racket going.


16 posted on 09/08/2010 5:39:33 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: STONEWALLS

$170,000 in loans to become a photographer???? Holy Mother of God!!!! I’m not sure that taking out loans like that to become a *brain surgeon* would be worth it.


17 posted on 09/08/2010 5:39:51 AM PDT by Gay State Conservative (''I don't regret setting bombs,I feel we didn't do enough.'' ->Bill Ayers,Hussein's mentor,9/11/01)
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To: runninglips

Very wise. It’s not just having debt, but having the mindset of ignoring, rather than paying off, debt.


18 posted on 09/08/2010 5:41:24 AM PDT by Tax-chick (I'm on vacation. Posts, if any, will probably be silly. You been warned! Fins up!)
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To: Ann Archy

If it’s like some of the areas in Eastern Massachusetts the parents are split and “Dad” is probably chasing one of her 28 year old friends. Mom is lonely and doing her best but the future is bleak to be honest. That would apply to a large number of folks I’ve observed.


19 posted on 09/08/2010 5:41:50 AM PDT by MSF BU (++)
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To: STONEWALLS

...my wife teaches part time at a local college...a number of the younger teachers in the dept have huge student loan debt...some are married and would like to have children and a home....but their debt hangs over them like a sword...and guess who ends up having to come to the rescue?...why Mom n Dad of course....like they haven’t done enough already!


20 posted on 09/08/2010 5:42:19 AM PDT by STONEWALLS
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