10K in the hole, Stafford Loans. I should probably transfer so I don't accrue anymore. My girl is looking at about 36K at the end of her Undergrad, her mom ain't shyt, she could help pay it off but she's like "Nah" 
How much is your student loan debt/debt in general? :sadcam:
- Thread starter labrokejames
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knocked off 20 k in a year and a half
knocked off 20 k in a year and a half
@labrokejames
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Why not just pay the minimum $20 a month?
Give me your reasoning?
My reason is all the other money being spent per month paying it off could be spent investing
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@ch15
Why not just pay the minimum $20 a month?
Give me your reasoning?
My reason is all the other money being spent per month paying it off could be spent investing
labrokejames
!!!
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knocked off 20 k in a year and a half
Explain your strategy. That's roughly my exact amount.
@labrokejames
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@ch15
Why not just pay the minimum $20 a month?
Give me your reasoning?
My reason is all the other money being spent per month paying it off could be spent investing
Because there is a 50% chance you will lose 100% of your money on investments and that lost money could be put towards your debt. Keep in mind, student loan debt never goes away so you might as well attack it with full force. And just to add, I already do invest although my portfolio is doing shytty today. I'm sitting at around 8k.
uh, check ur interest rate breh. my loan accrued 2 grand in interest in a year.
if you feel comfort in the fact that you're doing exactly what they want you to do, in order to owe them the most money, then good for you
Thatrogueassdiaz
We're on the blood path now
Minimum 20 a month? When I'm not in school I have to pay a GRAND a month@labrokejames
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@ch15
Why not just pay the minimum $20 a month?
Give me your reasoning?
My reason is all the other money being spent per month paying it off could be spent investing
I dunno about the whole "lose 100% on investments thing" but I guess I respect it
I just felt like, if they scamming me by making me pay large sums of money to be educated, then i can scam them by paying them back in 50 yearsuh, check ur interest rate breh. my loan accrued 2 grand in interest in a year.
if you feel comfort in the fact that you're doing exactly what they want you to do, in order to owe them the most money, then good for you
what kinda loan you got
frankly ive been stackin my whole life. by the time the loans kicked in, i had 20k saved up (nothin crazy but it put me in a good position), and owed 20. so that coupled with me being employed, meant i could spend roughly 80% of my income on the loans
, and dip into savings for rent and gas and shyt.
Vandelay
Life is absurd. Lean into it.
@labrokejames
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@ch15
Why not just pay the minimum $20 a month?
Give me your reasoning?
My reason is all the other money being spent per month paying it off could be spent investing
Because I only took $35k out for loans...paying the minimum and putting it into deferment ballooned my debt to $55k.
Play with it if you want...the gubment, can and will garnish your paycheck.
Yapdatfool
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@labrokejames
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@ch15
Why not just pay the minimum $20 a month?
Give me your reasoning?
My reason is all the other money being spent per month paying it off could be spent investing
With me, right now I can't afford to. Later on in the year, I'm gonna go ahead and start paying around 100 per month, my problem is I have thousands of dollars in accrued interest to pay first so I'll be paying off interest first before getting to the principal.
39,000k
Paying $435 a month just started two months ago, plan is to pay it off in 2.5 years
http://www.thecoli.com/threads/get-out-of-debt-brehs.221100/
Paying $435 a month just started two months ago, plan is to pay it off in 2.5 years
http://www.thecoli.com/threads/get-out-of-debt-brehs.221100/
labrokejames
!!!
My man it's the basic concept of risk. Why do you think businesses fail? It's because they lose money. There is no guarantee you will ever make a profit when investing. And stocks are hands down the least-profitable way to create income.
I had to
at this. You will never scam Uncle Sam when it comes to paying loans. He has goons called the IRS that will make sure to put an end to any of your potential fukkery.
Techniec
Drugs and Kalashnikovs
paid off my undergrad but law school here is 17 gs a year plus books..not too bad compared to american schools
im looking to pay off each year by the end of it, so im only gonna be taking out a 20 g line of a credit
im looking to pay off each year by the end of it, so im only gonna be taking out a 20 g line of a credit
I'm still in Undergrad, and plan on going to Grad school. Paying the minimum costs you more in the end. When I graduate from school fully, I plan on ending my payments as quickly as possible. Not prolonging them. I'll have to read more about the payment plans afterward though.@labrokejames
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@ch15
Why not just pay the minimum $20 a month?
Give me your reasoning?
My reason is all the other money being spent per month paying it off could be spent investing
#BOTHSIDES
Superstar
23k