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Started By
Message
re: White House set to cancel $10k of student loans
Posted on 5/27/22 at 9:35 am to BurningHeart
Posted on 5/27/22 at 9:35 am to BurningHeart
$4Ob to Ukraine....
Fwiw, I'm debt free.
Fwiw, I'm debt free.
0
Posted on 5/27/22 at 9:41 am to BurningHeart
It's okay, taxpayers can shoulder the burden. Most of them are conservative after all.
Posted on 5/27/22 at 9:48 am to go ta hell ole miss
Bloomberg Radio just reported the limit was up to 150k for single and 300k for married.
Posted on 5/27/22 at 9:49 am to kywildcatfanone
If we continue to fix everyone's problems for them, they'll never fix it themselves. Give a man a fish vs teach a man to fish. Own up to your choices.
Posted on 5/27/22 at 9:50 am to LNCHBOX
quote:
You don't understand how interest accrues and you think yours should be cancelled on "principle?
When I started school I had no idea how any of it worked. That is besides the point though. I don't even care about cancelation. The interest and amounts are just highway robbery.
They got their 25k back and 11k beyond that. frick me, I think thats enough already. It wouldn't be so bad if I didn't still owe half my original debt still.
Posted on 5/27/22 at 9:51 am to Moretiger
Why even have a limit? Why not just forgive everybody's debt for everything?
Let's give everybody back every penny of taxes they paid in 2021. Howboutdat?
Let's give everybody back every penny of taxes they paid in 2021. Howboutdat?
Posted on 5/27/22 at 9:51 am to King
quote:
I took out 25k in loans. I have paid back 36k in the 17 years I have been paying. So, after them getting their initial money back and getting 11k in profit, I somehow still owe roughly 12k or half of my original debt.
Posted on 5/27/22 at 9:52 am to King
quote:
The interest and amounts are just highway robbery.
You could have refinanced for like 3% interest. And your loans aren't government loans so you are blaming the government for none of their own doing.
And you've been paying a 25k principle loan for 17 years. I don't even know how that's possible.
But I bet you've bought at least 3 trucks in that same time frame.
This post was edited on 5/27/22 at 9:53 am
Posted on 5/27/22 at 9:52 am to Mingo Was His NameO
quote:
Why he wouldn't refinance those, I have no idea. I'm guessing his interest rate is like 8%. If he has decent credit, he could have refinanced to less than half that
I consolidated right after graduation @ 4.75%. I have just been making payments since.
Posted on 5/27/22 at 9:53 am to MrJimBeam
quote:
If we continue to fix everyone's problems for them, they'll never fix it themselves. Give a man a fish vs teach a man to fish. Own up to your choices.
sir, this is not how you get the votes of dumbasses.
Posted on 5/27/22 at 9:55 am to Joshjrn
quote:
Then why is he crying about potential forgiveness now?
I was more making a snide remark on the fact that this will drive up inflation even more than actually crying about paying on a loan I took out.
Posted on 5/27/22 at 10:00 am to Mingo Was His NameO
quote:
You could have refinanced for like 3% interest. And your loans aren't government loans so you are blaming the government for none of their own doing.
And you've been paying a 25k principle loan for 17 years. I don't even know how that's possible.
But I bet you've bought at least 3 trucks in that same time frame.
I don't claim to be a math and interest guru.
I fricked up when I was young. I went to fricking ITT Tech for crying out loud. I paid 36k for a damned A.A.S. in I.T. I was fricking stupid.
And yes I paid the minimum most of the time. shite was just under $300 a month and I only made like 30K-40K per year. It's not like I had a ton of income to throw at it.
Ive had multiple vehicles in that 17 years. I buy used man. The truck I have now is paid for. Payments were $225 a month before it was paid off.
Posted on 5/27/22 at 10:03 am to King
quote:
And yes I paid the minimum most of the time. shite was just under $300
There is simply no way you paid almost $300 a month for 17 years and still have any principal left, let alone almost half.
$25k loan at 7% for 10 years is $290 a month.
Posted on 5/27/22 at 10:07 am to LNCHBOX
Yea I cannot fathom the hundreds of stories you see of people saying they make 600 in payments every single month for 20 years and their initial balance of like 40k is now closer to 80k.
Like how? My initial balance was like 40k when I got out of school. I made the payments I was supposed to make each month. My balance is now (7 years after graduating and 2 years of not paying a dime) 23k.
Like how? My initial balance was like 40k when I got out of school. I made the payments I was supposed to make each month. My balance is now (7 years after graduating and 2 years of not paying a dime) 23k.
Posted on 5/27/22 at 10:15 am to LNCHBOX
quote:
There is simply no way you paid almost $300 a month for 17 years and still have any principal left, let alone almost half.
$25k loan at 7% for 10 years is $290 a month.
Well, I did it. It dropped a few years ago down to $177 a month. There were a couple of private loans that did not consolidate that got paid off. They accounted for $100 a month.
I'm not BS'n you. Thats why when I added the #'s up I was like wtf.
Either I am getting fricked or they are using some of that George W fuzzy math.
Posted on 5/27/22 at 10:16 am to King
quote:
Well, I did it
Mathematically impossible.
quote:
I'm not BS'n you. Thats why when I added the #'s up I was like wtf.
Either I am getting fricked or they are using some of that George W fuzzy math.
Or you have no idea what you actually borrowed/paid.
Posted on 5/27/22 at 10:16 am to JohnnyKilroy
quote:the twitter threads where these people one-up each others debt situation absolutely kill me
Yea I cannot fathom the hundreds of stories you see of people saying they make 600 in payments every single month for 20 years and their initial balance of like 40k is now closer to 80k.
Posted on 5/27/22 at 10:18 am to BurningHeart
I don't have any student loans and my mortgage is paid off. Can I just have $10k taken off my tax bill?
Posted on 5/27/22 at 10:21 am to BurningHeart
Will this make my credit score go up?
Posted on 5/27/22 at 10:23 am to King
quote:
When I started school I had no idea how any of it worked.
It should be a requirement at every high school in the country that students take a class called "personal finance and responsibility".
It's crazy schools make you memorize 14th century Kings of England or talk about how critical race theory made you feel when you read To Kill a Mockingbird but meanwhile graduates are walking into Title Max or Payday Loans and thinking "how can I lose?"
This post was edited on 5/27/22 at 10:25 am
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