I am 29 years old and in $1 million dollars in debt

[International Playa]

This makes me feel better about my debt

 

[ItzRailT]

Lol why before even clicking the thread I figured it was a woman. Marrying or getting with woman with that kind debt gonna make you broke even if you got it.

 

[Copy Ninja]

These people make $230K and are only 29 and 32 years old. Yeah they are okay.

 

[Mr swag]

Some dude married a girl with 200k in debt and she has a liberal arts degree

 

[CouldntBeMeTho]

These people make $230K and are only 29 and 32 years old. Yeah they are okay.

Depends on where theyre at. If its nyc then

 

[Sad Bunny]

The need to focus on that cc debt ASAP.

 

[hashmander]

One of these holiday dinners a few days ago, were just talking about random stuff, and somebody brought up the cost to go to a school for one year. That morphed into 10 minutes of googling the cost of well known Ivy League and other regional "elite" private colleges like Duke, Standford, Rice, Vanderbilt. So take a guess what those schools along with Ivy Leagues like Columbia Harvard, Yale, Princeton, and Georgetown costs on average annually.......they are currently all in the $46,000 - $50,000 range for one year.


That's basically $200,000 just for an undergraduate degree.

those schools also have the most generous income based scholarships. typically only students coming from families making over $100k have to pay anything at all and even at $100k it's a sliding scale where you start to pay a higher percentage as the income goes up.

 

[hashmander]

how do loan companies even let you take out that much...

it's easier than you think. have a proven history of paying your debts and the income and credit score to match and you will have all sorts of credit lines available to you. credit cards and personal loans available credit could easily be a half mil with that great history depending on income. and with student loans you don't even need to establish a proven history you can be quarter mil in debt easily with grad school. then your mortgage. a mil is easy.

it's a little better for the kids now, but when i was a freshman we were food for the credit card companies, they were giving gifts to sign up for their credit cards and i was 18 with no income and had $15k in available credit on 5 or 6 cards that i signed up for the same day. luckily my parents had a talk with me about how credit cards worked from when i was 16 and using their gas card (i still had to pay them back). my dad straight up told me if ran those credit cards up and can't pay that's on me and i'd have to declare bankruptcy or just stop paying them and duck phone calls and they wouldn't bail me out because the negative items fall off after 7 years and i would still be young and could recover. i used them sometimes to pay rent my junior and senior years but i had a plan to pay it back during those tight money times. it worked out great because that credit history has been real helpful to me, on my credit scorecard it shows my length of credit as 17 years. i carry a bigger balance than most people i know and pay a fraction of the interest they're paying (only my mortgage has interest).

 

[CreepyMcCreeperson]

Whites are the best PR agents in the world, because so many others think they have a ton of money, but they don’t realize how much debt can accumulate trying to keep up a certain image. When I worked retail, just about every shift was a married woman who mentioned she needed to rush home to hide the clothes before her husband gets home. This is a very common situation, with men who allow their wives to spend without keeping up with her purchases.

Occasionally, a woman would come back a week later to return it, and the husband would be with her like:


I will NEVER understand men who let their wives handle all the finances. They don’t even see the credit card statements, because the woman handles all the bills. Then, you have the men who know they are in debt, about to lose the house, but are afraid to tell the wives, because the wife wants a certain lifestyle. Then you have the ones who do the murder/suicide to avoid having to be poor, and start all over when they lose their money.

 

[Afrodroid]

Who is this 'everybody' you speak of?

Everybody with a fair skin :crackass:

 

[Gold]

How the hell they have 335,000 dollars in student debt?

That part is not hard to believe. Some colleges are extremely expensive.

Vanderbilt tuition for engineers was 26k a semester when I was there. If I didn't have scholarships, my college tuition would have been 208,000. And this was back in 2007, i'm sure college tuition has raised in the last decade.
And I only did undergrad. My sister got her Undergrad and Doctorate at Vanderbilt. I'm pretty sure she could get 335k alone with just that.

 

[KENNY DA COOKER]

I damn thier fell out my chair...

when David Ramsey asked the b1tch.....

"what the world?

do you both own this (debt)

or is it just one of YOU who is just completely lost


how da fukk u rack up over a quarter million dollars in just credit card and loan debt?!?!?

and your mortage ain't even over 200k

and they are COLLEGE EDUCATED WITH ADVANCE DEGREES?!?!


THANKS OP....

I NEEDED THIS......im really starting to rethink this whole marriage shyt ....

everybody (my friends..and family) are expecting me to marry this woman im with

talking about she is a damn good woman ..she been so good to you blah blah blah

but she is about to get her masters very soon ...

and im looking at that along with any other lingering revolving debt she has

as being a prime factor in causing me to say............

nah im good ...ifukk this marriage shyt

 

[Copy Ninja]

Depends on where theyre at. If its nyc then

Can't be if their mortgage is only $210K. If it is then they have equity.

They have no kids, moving in with parents, plus that income, they'll be in great shape in no time if they're disciplined.

Take into account their salaries will increase over time.

 

[Professor Emeritus]

Only a lawyer or doctor

100,000 different from 335,000

Nah man, all sorts of schooling is $50,000/year now, undergrad and grad both.

One of these holiday dinners a few days ago, were just talking about random stuff, and somebody brought up the cost to go to a school for one year. That morphed into 10 minutes of googling the cost of well known Ivy League and other regional "elite" private colleges like Duke, Standford, Rice, Vanderbilt. So take a guess what those schools along with Ivy Leagues like Columbia Harvard, Yale, Princeton, and Georgetown costs on average annually.......they are currently all in the $46,000 - $50,000 range for one year.


That's basically $200,000 just for an undergraduate degree.

those schools also have the most generous income based scholarships. typically only students coming from families making over $100k have to pay anything at all and even at $100k it's a sliding scale where you start to pay a higher percentage as the income goes up.

Both of you are right, which is why I think the graduate degree is a big part of it.

First of all, there are a lot more schools than just Ivy Leagues that cost $50,000 or so a year, and some of those don't have nearly as nice scholarships for poor kids as the Ivy Leagues do. So I have a real hard time seeing anyone come out of an undergrad degree with more than $100,000 or so in debt.

But graduate school? Different story. Forget about financial aid, my masters in education was damn near ALL student loans. So I can see if you were getting a masters or a PhD in some liberal arts category, you could rack up hundreds of thousands more really really quick.

 

[Hacksaw Jim Thuggin]

Haven't watched yet but what in 29 years can you do to rack up a million dollars of debt that probably doesn't include a mortgage

undergrad private college....graduate education at said school

it can b done