Your Student Loan Rates Just DOUBLED

[MoneyTron]

10 year payment plan
Loan Balance: $49,000.00
Adjusted Loan Balance: $49,000.00
Loan Interest Rate: 6.80%
Loan Fees: 0.00%
Loan Term: 10 years
Minimum Payment: $50.00
Total Years in College: 2 years
Average Debt per Year: $24,500.00

Monthly Loan Payment: $563.89
Number of Payments: 120

Cumulative Payments: $67,667.42
Total Interest Paid: $18,667.42

20 years

Loan Balance: $49,000.00
Adjusted Loan Balance: $49,000.00
Loan Interest Rate: 6.80%
Loan Fees: 0.00%
Loan Term: 20 years
Minimum Payment: $50.00
Total Years in College: 2 years
Average Debt per Year: $24,500.00

Monthly Loan Payment: $374.04
Number of Payments: 240

Cumulative Payments: $89,767.75
Total Interest Paid: $40,767.75




fukk this shyt. i rather buy a corvette or a porsche or some shyt.

You think that's bad...most of the b-schools I've been looking at want $100K for an MBA degree...

$50K a year.

 

[babylon1]

LMFAO!!

Good luck. They can garnish your wages, tax return, social security, pension, etc. Stop paying AND make money under the table for the rest of your life. The only way to change it is to stop borrowing.

a lot of states do not allowing the garnishing of wages for unpaid debts. and if you are unemployed in a state that garnishes wages they ain't got sh!t to garnish in the first place, so fukk 'em

brehs who aren't makin anything do IBR on the federal loans.

look, i used to work for a collections law firm. if you are destitute they are not going to go hard after you for your debts. they are going for the fatter cats who have the money and don't want to part ways with it.

don't worry about your credit. need a car? go to an auction. need a house? save for it and buy it with cash. no mortgage.

if all else fails, go bankrupt and start over. 7 years of poverty is not a death sentence. we are at war with the capitalists and we WILL win

 

[SwagKingKong]

what's the interest rate on student loans over there in US?

It's 1.3 % over here in Sweden

 

[Rawtid]

a lot of states do not allowing the garnishing of wages for unpaid debts. and if you are unemployed in a state that garnishes wages they ain't got sh!t to garnish in the first place, so fukk 'em

brehs who aren't makin anything do IBR on the federal loans.

look, i used to work for a collections law firm. if you are destitute they are not going to go hard after you for your debts. they are going for the fatter cats who have the money and don't want to part ways with it.

don't worry about your credit. need a car? go to an auction. need a house? save for it and buy it with cash. no mortgage.

if all else fails, go bankrupt and start over. 7 years of poverty is not a death sentence. we are at war with the capitalists and we WILL win

Son, you're dealing with the federal government. They don't have the same rules as regular creditors. You cannot bankrupt a student loan. Once you sign those papers

 

[MustafaSTL]

glad I just graduated from college

Fixed

I cringe when I see people just say "graduated college."

 

[K-Apps]

Fixed

I cringe when I see people just say "graduated college."

My bad, I don't usually proofread my posts like when I'm writing a paper

 

[babylon1]

Son, you're dealing with the federal government. They don't have the same rules as regular creditors. You cannot bankrupt a student loan. Once you sign those papers

this is a common misconception.

if you put the work in you can in fact have federal student loans discharged when you go bankrupt. a law student just had this happen in a high profile case, i forgot the name of the debtor but google search and you'll find it.

look, if you do your homework you'll find out how it can happen. i'll leave it at that.

 

[MustafaSTL]

My bad, I don't usually proofread my posts like when I'm writing a paper

I wasn't saying you didn't proofread. People have been saying this on purpose now which makes no sense to me. I just notice shyt like that, that's all.

 

[Rawtid]

this is a common misconception.

if you put the work in you can in fact have federal student loans discharged when you go bankrupt. a law student just had this happen in a high profile case, i forgot the name of the debtor but google search and you'll find it.

look, if you do your homework you'll find out how it can happen. i'll leave it at that.

It's very rare to have them discharged. The one case I remember was a person had a disease or something and they couldn't pay but I'll see if I can find the case you're talking about. It's much more than "just put in the work". God bless people. I just know I'd never borrow again. My kid won't borrow money for college either. fukk the government and their bullshyt educational borrowing and rates and all that.

 

[BrothaZay]

This is some Mob type shyt. Soon they'll be breaking legs and thumbs for late payments.

 

[How Sway?]

For those who are blaming obama for this,

IF anything Blame Congress. Hell most of the things that Obama wants to pass hasn't even been able to go thru because of those dumb/greedy republicans.

 

[TooLazyToMakeUp1]

brehs, we all know the solution. EVERYONE stop paying. they'll have to change the system for the next generations. we're all on the cross and the capitalists put us there.

an education is a human right

At one end, I feel like people have to own up to their financial obligations that they've signed themselves into. On the other end, the way the system is set up to require college (needlessly in alot of cases), and the cost of education doesn't add up when you start to see the lack of real career opportunities out here.

The price for "higher" learning continues to rise regardless of the standard of living, and the quality of education doesn't even apply to the real world. Employers don't wanna have to train people to do what they've supposedly went to school for when the pool of experienced, desperate workers are looking for jobs too. The whole thing is f*cked up

I feel like I'm learning more about engineering in the 5 weeks at this internship and outside of class by studying and doing, than I have 3.5 years in classes. I spent the first 1.5 years forced to learn sh!t that was already taught to me in high school , plus those raggedy a$$ general ed course requirements because they want us to have a "well rounded education" .

Just let me learn my major requirements and get the f*ck out and get real world experience. F*ck the "college experience" bullsh!t they're spewing, just teach me what I'm paying to learn...........

 

[Mr210]

I graduated from college without taking out loans

 

[ROFL_GUY]

who would give a 18 year old a 5-10k loan....fresh outta high school...with no credit history?

Where is the Money Going? - Interest on Student Loans to Give Government $34 Billion a Year in Revenue - AllGov - News

Meanwhile, the federal Department of Education is making big money from student loan payments. Its direct loan program yielded a $27.5 billion profit on loans made in 2011, $24 billion on loans made in 2012, and is expected to earn $33.5 billion on loans made in 2013. All told, over the last five years the government has earned $101.8 billion in profit from student borrowers,

capitalism

 

[sfgiants]

You think that's bad...most of the b-schools I've been looking at want $100K for an MBA degree...

$50K a year.

yea thats why those arent even an option for me at this point... good luck man, im fukkin depressed right now lol