Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

He had $55,000 in student loans, now he owes $330,000 ... Here's how it happened
MSN.COM/CNBC ^ | 5/6/2018 | Annie Nova

Posted on 05/06/2018 10:57:14 PM PDT by Wally_Kalbacken

Rick Tallini didn't worry much about the $55,000 in federal student loans he took out for law school in the 1990s. His future seemed bright.

Yet in the decades since he graduated, he's struggled to find employment and pay the bills. His original student loan balance, meanwhile, has soared to well over $300,000.

"They'll tack this thing to my coffin at this point," Tallini, 61, said.

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Government; Miscellaneous; News/Current Events
KEYWORDS: default; loans; quagmire; student; studentloans
Navigation: use the links below to view more comments.
first previous 1-2021-4041-47 last
To: MrEdd

Exactly. Tuition costs have steadily risen and risen since the 70s because government created a bubble in the market with guaranteed loans.....which uniquely cannot be discharged in bankruptcy. Then to top it off we just went through the worst economy we’ve had since the 1930s. It’s hardly a surprise there are a lot of defaults.

The thing is if that many can’t repay their student loans, they won’t be able to buy real estate. That knocks out a significant chunk of the market. At that point it’s everybody’s problem.


41 posted on 05/07/2018 8:31:35 AM PDT by FLT-bird (..)
[ Post Reply | Private Reply | To 22 | View Replies]

To: dfwgator

LOL!


42 posted on 05/07/2018 9:13:41 AM PDT by Moltke (Reasoning with a liberal is like watering a rock in the hope to grow a building.)
[ Post Reply | Private Reply | To 40 | View Replies]

To: CodeToad

I get all of the moral hazard arguments against doing anything about this (I paid off my student loans over two decades ago).

But if Trump is smart he will do something to offer relief. This issue is a ticking time-bomb in the body politic. Sooner or later some party or candidate WILL offer loan forgiveness, and they WILL cruise to a massive win at the ballot box.

Given the state of today’s Democrat Party I don’t think we can allow this to happen.


43 posted on 05/07/2018 10:51:07 AM PDT by Buckeye McFrog
[ Post Reply | Private Reply | To 34 | View Replies]

To: Wally_Kalbacken

44 posted on 05/07/2018 11:29:11 AM PDT by Oatka (tHE)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Wally_Kalbacken
He's 61..??

Is he an idiot?

I know a few too many starving Jacoby's....

It's like "teachers" getting their degrees...and bitching about what they make.

Well....maybe not...when I think about it....You can get a law degree...and suck at Jacopy'ing...

Most "teachers"...will get a job...then bitch about their pay.

Ummmm...when I went to college...I researched what I could make.

I've met some dumber than dirt Master Degree dolts.

I've met some M.D. or D.O.'s...that were very lacking...

Letter's behind your name...don't impress me.

45 posted on 05/07/2018 11:44:56 AM PDT by Osage Orange (Whiskey Tango Foxtrot)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Vendome

Sheet...me monthly feed bill...is that much.


46 posted on 05/07/2018 11:46:37 AM PDT by Osage Orange (Whiskey Tango Foxtrot)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Oatka

Bump that!!!!


47 posted on 05/07/2018 11:47:06 AM PDT by Osage Orange (Whiskey Tango Foxtrot)
[ Post Reply | Private Reply | To 44 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-47 last

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson