re: Student Loan payback

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I understand the mistake I made back then today but then I didn’t understand shite

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This doesn't sound right. They tell me that you understood enough to get a sex change as a pre teen. Surely as a young adult you understand plenty.

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Does the bank feel you've already paid them?

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Does he think he borrowed the money from the government?

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how many college kids you you think really understands what they are signing up for?

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They literally make you take a quiz about the ramifications of the obligation before you can sign the promissory note. Guess reading comprehension isn’t a strong suit?

The save plan calculates your payment based on a % of discretionary income.

Once I signed up for it, it dropped my payment from $1100 to just under $400. Not sure what his situation is, but its possible he could be paying little to none.

After 20 years of payments, its forgiven.

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I’ve paid it back but the interest rates make me a prisoner. That’s my only complaint

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I mean student loans aren’t variable interest so the rate is the same before the rate hikes. It doesn’t go up just because the Fed raised rates

I like to come in these threads and just say mine are all paid and finished

My wife and I both paid back our loans and we both are the type that ALWAYS had our career antennas out to move up for a better, higher paying job. ALWAYS. Loyalty to one company and doing one job in hopes you'll climb that ladder is an ancient way of life. Companies are usually more than happy to pigeon hole you and limit your opportunities for advancement, so you need to be actively attentive to other companies and looking for roles where your skills and experience bring value, and then don't be afraid to put a value on yourself and sell yourself to a new employer. Or, if you've developed the knowledge and skills to operate your own business, do it. Have faith in yourself, but, don't if you're the type to settle. Recipe to bankruptcy.

If you are two years into a job and aren't vigorously assessing your personal future, you are settling and deserve the stagnation that you settle into. You should never get 'comfortable' in your career. If you are just scraping by, then you need to be doing something about it. That's why you went to college in the first place, right? Or was it just the party and girls you were looking for and now the bouncer is making you pay the bill?

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The underwriting for these loans was disregarded, the universities kept raising prices and bingo a recipe for making easy prey of those young college kids. It’s about like the pay day loans that prey on the least educated and poor.

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Agree here. Student loans are predatory in nature and that needs to change but it doesn’t mean forgive the loans taken out.

We need a mandatory financial class for all high schools to teach students basic finances

Student loans should be capped based on the average salary of the major you choose outside of STEM degrees, unless you have a co-signer with an income level that shows a higher loan can be paid off