More Than Half Of Student Loans Are Now Delinquent | TigerDroppings.com

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JabarkusRussell
Member since Jul 2009
9940 posts

More Than Half Of Student Loans Are Now Delinquent



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I am one of those in their mid-20s mentioned in the article who has to defer my payments because of the crappy economy.







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wickowick
LSU Fan
Head of Island
Member since Dec 2006
24859 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

According to the more recent TransUnion study, more than half of student loans are in deferred status where the loan payment has been temporarily delayed. Deferred loans now represent 43.5% of all student loan balances.

The study also showed that the balances on these deferred loans have grown from $228 billion in 2007 to $388 billion in 2012, an increase of 70%. The average student loan debt per borrower grew 30% to $23,829 during those years.






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evil cockroach
LSU Fan
27.98N // 86.92E
Member since Nov 2007
5126 posts

re: More Than Half Of Student Loans Are Now Delinquent


What did you graduate in? BS, MS, PhD?





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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27326 posts

re: More Than Half Of Student Loans Are Now Delinquent


i must be some sort of sucker since i have never missed a payment on mine





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JabarkusRussell
Member since Jul 2009
9940 posts

re: More Than Half Of Student Loans Are Now Delinquent


I have a B.A. and a M.Ed.

quote:

i must be some sort of sucker since i have never missed a payment on mine


I still make bi-monthly payments but since I work under 30 hours/wk I am not charged interest until I become full time.



This post was edited on 2/1 at 2:09 pm


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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27326 posts

re: More Than Half Of Student Loans Are Now Delinquent


so you make one interest free payment every two months? and what constitutes "full time"? 40hrs a week or reaching a certain income threshold?





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JabarkusRussell
Member since Jul 2009
9940 posts

re: More Than Half Of Student Loans Are Now Delinquent


Unemployed and/or experiencing financial hardship:

Unemployment Borrowers who are unemployed (or working less than 30 hours per week) and seeking full time employment may be eligible for Unemployment deferment.

per salliemae.com






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Golfer
LSU Fan
Coral Bay, St. John, USVI
Member since Nov 2005
57768 posts

re: More Than Half Of Student Loans Are Now Delinquent


Maybe if you worked harder instead of trying to meet Deion Sanders you'd be able to earn more money.

quote:

I get there after taking the day off from work to go


LINK






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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27326 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

Unemployment Borrowers who are unemployed (or working less than 30 hours per week) and seeking full time employment may be eligible for Unemployment deferment.

thats fricking stupid to set it at an hr per week. the metric should be how much you make.

$8/hr for 40hrs vs $12/hr for 30hrs

typical govt idiocy.






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Motorboat
LSU Fan
At the camp
Member since Oct 2007
11174 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

I am one of those in their mid-20s mentioned in the article who has to defer my payments because of my laziness


FIFY






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JabarkusRussell
Member since Jul 2009
9940 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

$8/hr for 40hrs vs $12/hr for 30hrs


I get paid $20/hr for one of my jobs too. You do have a point.






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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21453 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

Motorboat


Do not be ignorant. This generation is no lazier than those in the past.






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Lsut81
USA Fan
Member since Jun 2005
65387 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

i must be some sort of sucker since i have never missed a payment on mine



No fricking shite






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jamboybarry
LSU Fan
I Putt Out
Member since Feb 2011
11685 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

Maybe if you worked harder instead of trying to meet Deion Sanders you'd be able to earn more money.


kuhboom






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JabarkusRussell
Member since Jul 2009
9940 posts

re: More Than Half Of Student Loans Are Now Delinquent


One of the articles linked in the one above says that student loans are going to be the next bubble that bursts in coming years.





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moneyg
LSU Fan
Member since Jun 2006
19858 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

I am one of those in their mid-20s mentioned in the article who has to defer my payments because of the crappy economy.



...your post comes across as if you are a victim.








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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
20039 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

Maybe if you worked harder instead of trying to meet Deion Sanders you'd be able to earn more money.


GOT 'EM!

quote:

One of the articles linked in the one above says that student loans are going to be the next bubble that bursts in coming years.


Besides the fact you take time off for Deion Sanders, I do believe this to be true looking at all my law buddies who have good jobs and a shite ton of debt like myself. We represent the lucky ones that can service the debt in some fashion, and I know there are many more of us in my grad class who weren't so lucky.



This post was edited on 2/1 at 2:47 pm


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JabarkusRussell
Member since Jul 2009
9940 posts

re: More Than Half Of Student Loans Are Now Delinquent


quote:

.your post comes across as if you are a victim.


I'd gladly take a full time job with benefits opposed to not having to pay interest on my loans.






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Joshjrn
LSU Fan
Baton Rouge
Member since Dec 2008
6346 posts

re: More Than Half Of Student Loans Are Now Delinquent


I'm a bit confused how the article made the jump from "deferred" to "delinquent". Loans are automatically deferred while the borrower is still in school. That means that a student who borrows from day one of undergrad through a professional post-graduate program could have their loans deferred for the better part of a decade without ever requesting a forbearance or additional deferment. I could be ignorant, but I fail to see how this would constitute delinquency.

Personally, my loans were deferred through three years of law school, three months of Bar prep, and three months of waiting for my results/looking for a job. I'm now paying back my loans, with the interest that accrued over those 3+ years. If this is the "problem" the article is referring to, I think it's missed something



This post was edited on 2/1 at 3:11 pm


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Radiojones
USA Fan
The Twilight Zone
Member since Feb 2007
7369 posts

re: More Than Half Of Student Loans Are Now Delinquent


I never borrowed a dime, worked 40 hours a week and was in the National Guard. I have zero sympathy for people that don't meet their financial obligations.





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