#46: Episode VI: Return of the Neolibs

[Tyrath]

I agreed to take on $180,000 to pay for law school. By the time I was out of school and passed the bar that was $250,000. I've been paying it off every month (save for the time it's been on hold) since then and have gotten it down to just $330,000.

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[Salodin]

I tHiNk YoU MfS sHoUlD pAy OfF YoUr LoAnS lIkE aN aDuLt

You got genuine, hearty laughter for this

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[Yabby]

I have a few friends that couldn't pay on their loans out of college for 5+ years before they made enough to start paying. Most have paid over 150% of the loan.... and are still not close to paying it off.

There should be a cap on interest.

[Guyverarmor]

I started out of school with like... 128k in school loans. I got em down to about 107k before I had put in my request to get most of my loans discharged due to fraudulent school advertisement (Went to DeVry and ITT Tech).

It was approved two weeks ago.

Total amount I owe now is 51k. Not too shabby overall. The DeVry one was able to get discharged for stafford loans. Currently in process to see if my ITT tech ones can as well.

[Jaybar]

"In state tuition is so cheap!"

Adds room and board, mandatory expensive books, lab/studio equipment, insurances, campus fees, fucking administrative costs

"Oh fuck, that's a lot of damage."

My private undergrad college gave me some grants but not before I bitched about leaving due to costs. I was one of the lucky 5% of grad students to land a TA position which covered half my grad school tuition (only 1yr position).

I would not wish this on anyone and hope others get free education and forgiveness despite me being >50% paid off.

[Xno Kappa]

Wifey still has school loan debt in the five figures from her BSN, and that was with the Post 9/11 GI Bill.

[kuronosan]

This entire day's posts are really making my broom laugh.

[Zealot]

Also during the time when loans have been frozen I've been able to make several large purchases I would not have otherwise, thereby putting money I earn back into the economy instead of tossing it into a pit.

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[synistar]

Had the fortune of being a dependent of a disabled veteran. Tuition fees paid for and a monthly stipend from the state of California. Loans went towards rent and finished paying that off ($15k original principle) last year.

[Day]

I just pay my debts like a normal human being, not sure why i'm being made out to be a villain lol, this is just normal adult stuff, no one held a gun to anyones head to take these loans.

[Day]

I agreed to take on $180,000 to pay for law school. By the time I was out of school and passed the bar that was $250,000. I've been paying it off every month (save for the time it's been on hold) since then and have gotten it down to just $330,000.

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doesn't seem like a good investment at all

[Kaslo]

doesn't seem like a good investment at all

Yeah, it's almost like our education system is designed to only benefit the rich who can afford to not take out loans.

[Day]

if we are going to forgive debt lets do medical first IMO

[Kaslo]

if we are going to forgive debt lets do medical first IMO

whynotboth.gif

[Zealot]

I just pay my debts like a normal human being, not sure why i'm being made out to be a villain lol, this is just normal adult stuff, no one held a gun to anyones head to take these loans.

No, of course not, just said that they would amount to nothing and every meaningful job in the market would be cut off from them, but you are absolutely correct, no one forced them to take out high-interest loans that can't be discharged and start accruing while still in school starting at 18.

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[Tyrath]

whynotboth.gif

Edit: FUCK YOU KASLO

[Zealot]

doesn't seem like a good investment at all

Depends on how you look at it. I make close to $120k a year on average. Would I have that without my law degree? Probably not, honestly. In my prior field in my area I would have probably capped out at just over half that much, but with no debt. Now I have that and potential for much more, but in exchange I have to toss $1000 in a hole every month only to see my debt increase and prevent me from ever owning my own home, which, as I understand, is a desirable thing for the economy.

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[Zealot]

Eventually I will make enough money that I don't miss the lost whatever it is every month, but I won't ever forget the times when I did.

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[Zealot]

if we are going to forgive debt lets do medical first IMO

I would agree, I would love to see what wretched bullshit talking point you would regurgitate for this to make it seem like people should just know better than to get sick or hurt.

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[Day]

I would agree, I would love to see what wretched bullshit talking point you would regurgitate for this to make it seem like people should just know better than to get sick or hurt.

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Why would I do that lmao, I made the suggestion