re: How much student debt do you have currently?

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Where people really get "into trouble" is living like a pauper for the very important 10 years right after school just to pay back their loans in an expedited way. Screw that. I'd rather just pay them back on schedule and live well.

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We have a family friend whose son was in the mid 200s. Undergraduate degree at the University of Illinois, law school at Case Western Reserve, LLM at NYU.

He got a gig at Skadden, Arps and lived with his parents for close to three years. He said it wasn't that bad. He was pulling in so many long hours at the firm that he was hardly home. He paid that shite off though in the time that he lived with his folks. I admire his resolve to rid the debt, but I would have done things differently. I believe starting pay is around $160,000. Pay half the wage earings to the loans and another to a home/mortgage.

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What about a professional who: 1) took out a student loan 2) got his or her degree 3) has payments that are either too high to make based on income/salary 4) and the debt is so much that even if he/she never misses a payment in life, the loan will never be paid off. 5) Also, the professional is a taxpaying citizen

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That's their fricking problem. Make a wiser investment. Don't blow a bunch of money. Live meagerly like the wife and I did...with a kid. Get a degree that is worth the money you spent on it. We spent ours getting doctorates that would guarantee each of us a 6 figure income for the rest of our careers. We understood that tuition is the price you pay for that. Just like any other investment. I do think student loans should be tax deductible, but that's a whole other argument and would benefit me zero since ours are paid off.

Pay your own bills mf'ers. Why should I pay yours and mine?

How exactly are you getting bailed out after 10 years? Who is bailing you out?

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Our entire 'education' system is f'ed. Our kids are brainwashed to believe that if you don't go to college than you are a failure and will be poor for life. So kids go to college just for the sake of going to college and in the meantime they get in debt

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I agree with that. We push all students to a 4-year university instead of community colleges and other 2-year programs.

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I know a kid that graduated from Tulane last year with a finance degree and can't get a job outside the local batting cage making $10.00 an hour.

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I think that may be more telling to the local economy than the degree.

If he's interested in Chicago, tell him to shoot me his resume. My username at gmail.

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I know a kid that graduated from Tulane last year with a finance degree and can't get a job outside the local batting cage making $10.00 an hour.

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he must have a really shitty GPA

$0.

But I did rack up $2k @ Reggie's on a credit card I haven't paid off yet

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Does personal responsibility not exist in this country anymore?

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Socialism (which forgiving loan debts at the expense of others would be) always sounds good in theory but never actually works. Too many people don't realize this.

I have about 30k. Working on doing the 10 year public servant thing then leaving the public sector.

If it's forgiven. I'm leaving the public sector. Currently paying for my Masters out of pocket though.

no one expects someone else to pay the bill. I'm taking advantage of a program that the government offers. If you're angry about that then that's your issue.

I took out loans for law school. Most law school grads (or any grads really) that work for government, city, or an other qualified non-profit are eligible for PSLF(Public Service Loan Forgiveness Program. If you work any of these jobs for 120 months or period of 10 years (doesn't have to be in succession) and you make the payments under the program, the remaining portion of your debt is forgiven.

Excuse me for taking advantage of a program the government created and somehow being considered a person who does not take personal responsibility lol.

I do agree it's a generational thing. The 40-60 year old age group were told to go college or bust. I think the current 20-39 year old group would have been better served looking into vocational and community colleges unless going into accounting, law, or medicine.

But I think there was a slight stigma when people found out little Johnny wasn't going to college. But look at lil Johnny now? big house, nice kushy oil and gas job, debt free.

Also most law school grads are NOT making 160k their first 3 years out of law school and if they are the chances of them living with their parents and not having kids or significant other is even less likely. That's a misnomer regarding starting salaries of the majority of J.D.s

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I do have some friends from BU who are like $150K plus in student debt though.

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Wow