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re: Any posters out there that feel their student loan debt is "unjust"?
Posted on 2/1/16 at 7:36 pm to Schwartz
Posted on 2/1/16 at 7:36 pm to Schwartz
No. I signed the papers every year, i knew how much i was taking and i couldn't have afforded the education any other way.
Unjust? No.
Worth it? Depends. SOme would say probably not. I'm not even going to use the degree. Cool to have though. And i'm a firm believer in education for the sake of education. I was taught how to critically think and sharpen my speaking and debate skills, while networking and improving my general outlook and skills in life. So to me, it's worth it.
Unjust? No.
Worth it? Depends. SOme would say probably not. I'm not even going to use the degree. Cool to have though. And i'm a firm believer in education for the sake of education. I was taught how to critically think and sharpen my speaking and debate skills, while networking and improving my general outlook and skills in life. So to me, it's worth it.
This post was edited on 2/1/16 at 7:38 pm
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Posted on 2/1/16 at 7:39 pm to AUCE05
We have a boatload of student loan debt, but it is completely manageable. We have chosen to be extremely aggressive with it, and we should have it paid off in +/- 5 years. We'll save $100s of thousands by going this route. Would I rather move to Old Metairie in 1.5 years? Hell yeah, but I don't want this debt hanging over my head.
Interest rates are high but not for a loan that essentially has no collateral.
Interest rates are high but not for a loan that essentially has no collateral.
Posted on 2/1/16 at 7:44 pm to Schwartz
I mean I hate having to pay them, but I took them out so I do with minimal complaint.
My parents didn't pay for any expenses other than car insurance, so full time school plus a job to cover out of state tuition, rent, utilities, etc would have been a lot for me at that age. Not saying it can't be done, but I also didn't mind not having to stress over bills/tuition payments while trying to make good grades. I still worked about 30ish hours per week all throughout school, but that paid for books, minor expenses, groceries and fun.
My parents didn't pay for any expenses other than car insurance, so full time school plus a job to cover out of state tuition, rent, utilities, etc would have been a lot for me at that age. Not saying it can't be done, but I also didn't mind not having to stress over bills/tuition payments while trying to make good grades. I still worked about 30ish hours per week all throughout school, but that paid for books, minor expenses, groceries and fun.
Posted on 2/1/16 at 7:52 pm to Schwartz
quote:
That's what I'm saying, but it seems like too many people are unwilling to accept that personal responsibility.
Those people are called millennials.
Posted on 2/1/16 at 7:52 pm to Schwartz
Nope, I made shitty grades one year and ad to take a loan out. I paid it off by living well under budget. Part of growing up.
Posted on 2/1/16 at 7:59 pm to JohnnyKilroy
quote:
Gone are the days of "I worked my way through school"
My niece has worked her way through and will graduate with a B.S. in business this year. She lived at home and went to a community college for the first two years, took online courses while working full time in the summer, and currently works full time at a hotel on the night shift while taking 18 hours. She rents a room from a elderly lady for housing, rides a bike and the bus. I know a couple of other kids that got zero parental support, took no loans that have graduated from LSU over the last couple of years, one worked full time while in school and took 6 years to finish to avoid debt.
Posted on 2/1/16 at 8:01 pm to VABuckeye
quote:
Do you realize how many people would simply avoid taxes if there were no payroll witholding?
yes
it shows a flaw in the concept of taxation and that we are taxed far too much
quote:
'm also pretty sure he was bitching about his employees payroll taxes which was never his money to begin
you obviously have never run a business. employer has to match the employee portion. so an employer has to pay for the luxury of employing people and contributing to the economy. grand scheme
Posted on 2/1/16 at 8:03 pm to PuntBamaPunt
quote:
No, but tuition rates are OOC.
Yep, the loans aren't the problem.
Posted on 2/1/16 at 8:06 pm to EA6B
quote:
My niece has worked her way through and will graduate with a B.S. in business this year. She lived at home and went to a community college for the first two years, took online courses while working full time in the summer, and currently works full time at a hotel on the night shift while taking 18 hours. She rents a room from a elderly lady for housing, rides a bike and the bus. I know a couple of other kids that got zero parental support, took no loans that have graduated from LSU over the last couple of years, one worked full time while in school and took 6 years to finish to avoid debt.
Yea that pretty much proves my point.
Posted on 2/1/16 at 8:09 pm to SlowFlowPro
quote:
you obviously have never run a business. employer has to match the employee portion. so an employer has to pay for the luxury of employing people and contributing to the economy. grand scheme
I've been a small business owner and employer since 2001. I'm well aware of my matching contribution which has nothing to do with the employees federal or state income witholding. It's for SS and Medicare.
This post was edited on 2/1/16 at 8:12 pm
Posted on 2/1/16 at 8:28 pm to Schwartz
The amount it costs to go to school is unjust. Tuition, books, etc are all outrageous. I knew fully what I was getting myself into though.
Posted on 2/1/16 at 8:29 pm to VABuckeye
quote:
I've been a small business owner and employer since 2001. I'm well aware of my matching contribution which has nothing to do with the employees federal or state income witholding. It's for SS and Medicare.
I think you misunderstood what he meant by payroll taxes. In my experience when someone is bitching about payroll taxes for the self-employed they are usually implying the employer share of FICA.
Obviously there is no reason to bitch about withholding money for your employees' federal withholdings.
Posted on 2/1/16 at 8:31 pm to Schwartz
Don't fee they are unjust, but it was bullshite for sallie Mae to be able to sign exclusive lending agreements with lsu back in the early 00s. What incentive is there for any competitive rates on lending? I understand this has since been changed.
Posted on 2/1/16 at 8:32 pm to Grandioso
quote:
Oddly enough, this is one of the avenues the legislature has allowed for forgiving student loan debt.
The teacher loan forgiveness is only 5k for working in a title 1 school. My wife did it
If the government wants to do it, Then there should be loan forgiveness for working in schools or other public service where you maybe get 5% forgiven every year and after 20 years you'd get all loans forgiven. Breat would also stop them from complaining about their pay while getting better candidates to enter the profession.
This post was edited on 2/1/16 at 8:35 pm
Posted on 2/1/16 at 8:33 pm to Schwartz
I do not regret my career choice and will pay off a $190k debt around August (hopefully) within 6 years of graduating. I do however feel that it is extremely risky to allow a 22 year old to sign up for that much debt. I was a complete dumbfrick who had no clue about the magnitude of that kind of liability.
The thing that really pisses me off is that I could end my debt right now, but I want to accumulate the tax liability I will owe for the remaining principle.....about 60k.
The thing that really pisses me off is that I could end my debt right now, but I want to accumulate the tax liability I will owe for the remaining principle.....about 60k.
Posted on 2/1/16 at 8:36 pm to Breesus
quote:
Worth it? Depends. SOme would say probably not. I'm not even going to use the degree. Cool to have though. And i'm a firm believer in education for the sake of education. I was taught how to critically think and sharpen my speaking and debate skills, while networking and improving my general outlook and skills in life. So to me, it's worth it.
Pretty much. I didn't go to college with the thought of a career. I went for the experience and the value of studying and learning about the world through academia. I also went when tuition was somewhat reasonable and never had any student debt.
It has to be a serious burden to the vast majority of graduates.
Posted on 2/1/16 at 8:38 pm to Schwartz
I'll give my 2¢. I'm looking at $250k for law school. Went to a private university and paid dearly for it. There are a few options available to me. I can opt to work in the public sector or for a non-profit and pay 10% of my AGI towards debt service. After 10 years of payments my remaining debt is forgiven. Another route is by paying 10% of my AGI as debt service and after 20 years the remaining balance is forgiven although taxed as income.
I don't think that a mass loan forgiveness program is the answer, but what I would like to see is a percentage of my principal and interest payments toward my debt be tax deductible against my income taxes. This incentivizes people with student loan debt to seek higher paying jobs and once the debt is paid off, that extra income would be put directly into the economy and increase tax revenue for states and the federal government. I'm a believer that in the next 10-15 years we are going to have an exponentially bigger problem with student debt than we have now.
I don't think that a mass loan forgiveness program is the answer, but what I would like to see is a percentage of my principal and interest payments toward my debt be tax deductible against my income taxes. This incentivizes people with student loan debt to seek higher paying jobs and once the debt is paid off, that extra income would be put directly into the economy and increase tax revenue for states and the federal government. I'm a believer that in the next 10-15 years we are going to have an exponentially bigger problem with student debt than we have now.
Posted on 2/1/16 at 8:47 pm to ElPresidenteGrande
quote:
I'm a believer that in the next 10-15 years we are going to have an exponentially bigger problem with student debt than we have now.
The real problem is that too many people go to college. But, it is now such a huge industry and there is so much money at stake that the trend will never end.
Plumbing, electrical work and HVAC people are going to make so much money. No one wants to sweat for a living, which is kind of the promise of college. Cubicle, office and AC... Ahhh paradise.
Posted on 2/1/16 at 8:48 pm to ElPresidenteGrande
quote:
looking at $250k for law school.
That's a terrible idea!!!
quote:
can opt to work in the public sector or for a non-profit and pay 10% of my AGI towards debt service. After 10 years of payments my remaining debt is forgiven
A lot of young lawyers bank on this, but if you haven't noticed, our last governor cut state positions and those jobs aren't as easy to come by anymore.
Posted on 2/1/16 at 8:51 pm to ElPresidenteGrande
quote:
I'll give my 2¢. I'm looking at $250k for law school. Went to a private university and paid dearly for i
Would you do it again? That's sounds like a terrible idea
Eta: unless it was a top 20 law school and you finished near the top of your class
This post was edited on 2/1/16 at 8:52 pm
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