Student Debt Crisis

[MIKE SPLEAN]

I dream about waking up one day to breaking news that the system was hacked and all student loan balanced wiped with no possible back up

One day breh, one day

 

[unit321]

Real Student Debt Stories • Student Debt Crisis

Reading through some of those stories.

It's crazy how that debt can crush people's souls.

For you brehs in massive student loan debt, can you relate?

What's the largest student loan debt you personally know of?

It is similar to the housing bubble. They gave out tons of mortgages to people who couldn't afford it.
Now, you have tens of thousands of people with student loans and they are like mortgages. People are going to be paying them for years.

I didn't get a huge loan, I was fortunate. But I paid mine off early.

 

[beenz]

luckily for me, I graduated college in 2000. I only had like 12K in debt. paid them shyts off and swore to NEVER EVER go back to school cuz of that shyt.

 

[Bolzmark]

We need to organize as a society and everybody stop paying their student loans. Bring the industry to it's knees.

 

[beenz]

I owed $42k, currently down to $27k in 3 years, had a couple of set backs, Allah willing will have it paid off in 3 years. Social work degree

Craziest I've heard of was a chick in Atlanta with $150k on her MSW

this bytch is retarded. there's NO WAY she will get ample return on her 150K investment as a social worker.

 

[DrX]

man this was a crisis 8 years ago, now its stupidity...its clearly a scam, why would u take out a 100k loan to get a coffee table design degree in 2016, when u had over a decade to see many other souls walk the plank?

 

[beenz]

man this was a crisis 8 years ago, now its stupidity...its clearly a scam, why would u take out a 100k loan to get a coffee table design degree in 2016, when u had over a decade to see many other souls walk the plank?

its basically predatory lending. and why 18 year olds are allowed to make these kinda fiscal decisions make no sense. they are in no position to understand the ramifications of these loans.

 

[Clark Wayne]

Spoiler

you nikkas is living fantasies talkn about $27 an hour aint shyt while you living wit moms.

i got fam supporting they children off $8 an hour, people with masters hardly being able to get $12 an hour but $27 an hour aint shyt? yall nikkas need to wake up man..I'm not sayinig im balling but I'll be COTDAYMN if I aint doing well for myself...no shade to those making less but get real b. I got no debt, no student loans and own a home..I'm content with what I'm making.

Exactly fam. If you're single with no kids, depending on where you live, $27 is pretty good.

 

[Hijo de luna]

It is similar to the housing bubble. They gave out tons of mortgages to people who couldn't afford it.
Now, you have tens of thousands of people with student loans and they are like mortgages. People are going to be paying them for years.

I didn't get a huge loan, I was fortunate. But I paid mine off early.

Everything the government touches turns to shyt

 

[The5thLetter]

I saw this article the other day:

Survey Says Student Loan Debt Now An "Important Factor" In Dating

It's crazy how some ladies frown upon a man's student loan debt, but want to brag about how educated they are as a selling point!

Ladies, your degrees are backed by debt, too!

Should men start treating a woman's student loan debt as a dealbreaker?

@Reinscarf @marcuz @Wild self
@The5thLetter

I can't speak to what a dealbreaker should be for ppl, but it's something that should be strongly considered before becoming serious with a person. If you plan to be with this person long-term (either by cohabitation or marriage) you have to consider how their debt and possible poor credit score will hinder or burden you in the future. Especially regarding buying property, car loans, whether or not you'd have to pitch in to help pay off the debt, and myriad other factors.

 

[mamba]

The Weight & Reality of Student Loans In The Black America

Gregory, a 36-year-old dentist in Houston, TX, has over $400,000 in student loan debt. It’s a hefty bill, but he has a great career to show for it. Amanda is the assistant account manager of valet in Nashville, TN. She is just over $25,000 in debt and went to school for psychology, while Bilal is close to $200,000 in debt as he finishes his Master’s Degree in Urban Planning at Pratt Institute in Brooklyn, NY and works as a housing specialist.

When Gregory went off to college, he had very little help from his family as he was the first to pursue higher education. Now, even with a great career, managing life and kids is no easy task. The dentist, who graduated from Clark Atlanta University and Meharry Medical College, allocates 55 percent of his income to student loans. “I feel overwhelmed,” Gregory told us.

$400k.

Reminds me of that other thread in which we talked about how little support Black students get from their immediate and extended families.

@Slang Dussain Ali

 

[Asiatic Black Hebrew]

Graduated with $24k. Paid off in 7 years. Sacrifices were made to get from under that.

As a reminder to pay, I had a calendar notification in my phone. That was 5 years ago and I still have it in the phone. Every time it goes off, I'm like.

What methods did you use to pay it off? I have about $20K right now myself that I'm trying to get down.

 

[mamba]

I can't speak to what a dealbreaker should be for ppl, but it's something that should be strongly considered before becoming serious with a person. If you plan to be with this person long-term (either by cohabitation or marriage) you have to consider how their debt and possible poor credit score will hinder or burden you in the future. Especially regarding buying property, car loans, whether or not you'd have to pitch in to help pay off the debt, and myriad other factors.

I agree. Both men and women should have these things at the top of the list in terms of crucial conversations with a potential mate.

While I'm certainly proud that Black women are leading the pack in terms of accumulating degrees, my main concerns are the cost and the ROI.

Black women love to throw degrees in brothas' faces. But, we really need to take a look at how these loans are crippling some of these women, financially, especially as they enter their early 30s when baby fever and the desire to be a stay-at-home kicks in.

Who is going to shoulder that financial burden?

 

[AAKing23]

Take out loans brehs


I decided to put my bachelor's degree on hold and go for an associate degree at my local community college and now I get paid to go to school.

No debt and when I get job in my field I can have the company pay for the bachelor's degree

 

[GhostoftheMan]

before i sign up for nursing school i'm gonna work for a year or a half and try to save up money. community college saving a breh

getting my Associates in a year