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re: Student loan debt: Could we be headed toward another economic crisis similar to 08?
Posted on 7/9/18 at 3:54 pm to TDcline
Posted on 7/9/18 at 3:54 pm to TDcline
the loans will be repaid for the most part, the problem is the trickle on effects towards other sectors of the economy.
Delays in purchasing homes, slower replacement cycle for cars, few luxury purchases will be a drain on the economy for years.
Delays in purchasing homes, slower replacement cycle for cars, few luxury purchases will be a drain on the economy for years.
0
Posted on 7/9/18 at 3:56 pm to Mingo Was His NameO
quote:
Student loan debt outlives you. If you due your heirs are still responsible for it. The government can also take any wages you may make so while I still think it's a bad lending practice, no it will not cause a crisis like mortgage backed securities did.
I just can't imagine speaking so authoritatively about something yet being so very, very wrong.
Posted on 7/9/18 at 3:58 pm to LNCHBOX
quote:
Not too many majors offer the kind of salary needed to do that straight out. Chem E?
No, not an engineer, although my job title is field engineer. I worked for years making well less than $50k. I know am higher than that so that is why I put all of the per diem to the debt.
Posted on 7/9/18 at 3:58 pm to MLCLyons
I notice a correlation between having student loans and being a sky screamer
Posted on 7/9/18 at 3:59 pm to rowbear1922
I'm just now realizing you didn't say 2 years from graduating. Carry on.
Posted on 7/9/18 at 4:00 pm to rowbear1922
quote:
I want to get out of the debt ASAP which is why I am paying so much per month.
What's the rate?
Posted on 7/9/18 at 4:02 pm to TDcline
You wont see a student loan bubble per say like the housing loan bubble for one main reason. you cannot default on a student loan and cannot discharge with Bankruptcy.
What you will see, and are starting to see, is a student loan ripple. you are seeing more and more recent college grads postponing home purchase or other major purchases because they are strapped with SL debt. some the SL payment is a house payment. so you have less home buyers in a saturated home market.
What you will see, and are starting to see, is a student loan ripple. you are seeing more and more recent college grads postponing home purchase or other major purchases because they are strapped with SL debt. some the SL payment is a house payment. so you have less home buyers in a saturated home market.
Posted on 7/9/18 at 4:04 pm to TheDrunkenTigah
quote:
What's the rate?
I think the highest is ~6-7% but paying interest is just pissing away money.
Posted on 7/9/18 at 4:07 pm to LNCHBOX
quote:
I'm just now realizing you didn't say 2 years from graduating. Carry on.
What did you think? 2 months? As long as I stay to the plan I created, I'll have it finished in 20 months. If some unexpected bill or expense arises it may be more like 24 months.
Posted on 7/9/18 at 4:11 pm to TDcline
It's a problem but I don't think the asset is big enough to derail the economy.
Posted on 7/9/18 at 4:11 pm to rowbear1922
quote:
If some unexpected bill or expense arises it may be more like 24 months.
that F-250 can wait baw!
Posted on 7/9/18 at 4:14 pm to 777Tiger
quote:
that F-250 can wait baw!
That comes in 12 months.
Posted on 7/9/18 at 4:15 pm to rowbear1922
quote:
That comes in 12 months.
well then hold off the truck nuts until oil prices drop a bit!
Posted on 7/9/18 at 4:18 pm to rowbear1922
quote:
I'll have it finished in 20 months. If some unexpected bill or expense arises it may be more like 24 months.
$50k as a CM major coming out of school in 20 months is very unbelievable. You must have gotten one hell of a job coming out. $2500 post tax dollars a month is a lot.
Posted on 7/9/18 at 4:20 pm to LNCHBOX
quote:
$50k as a CM major coming out of school in 20 months is very unbelievable. You must have gotten one hell of a job coming out. $2500 post tax dollars a month is a lot.
Salary is much higher than $50k and so is per diem.
Posted on 7/9/18 at 4:20 pm to rowbear1922
quote:
Salary is much higher than $50k and so is per diem.
Your per diem is much higher than $50k? Yall hiring PEs?
Posted on 7/9/18 at 4:22 pm to rowbear1922
quote:
Salary is much higher than $50k
male strip joints have a minimum guarantee now? I might have to come out of retirement
Posted on 7/9/18 at 4:22 pm to LNCHBOX
quote:
Your per diem is much higher than $50k? Yall hiring PEs?
If you include what the company pays in taxes for per diem, then yes. And to your question, not my job but there may be others across the country.
Posted on 7/9/18 at 4:23 pm to HempHead
quote:
An interesting idea I've read is for the university (or a third-party lender) to pay for education in exchange of X% of a person's income over Y amount of years.
Uh, this is exactly how loans work
Posted on 7/9/18 at 4:26 pm to rowbear1922
quote:Would you mind defining per diem for me?
If you include what the company pays in taxes for per diem, then yes.
This post was edited on 7/9/18 at 4:27 pm
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