re: Student Loan payback

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I'm curious how that will pan out for you. I'm sure your undergrad was a lot, but that was the amount you agreed to for your undergrad. Not sure why your post grad education should be considered owed to you. Regardless, hope that works out for you.

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I follow. I dont think it was owed to me but the cost was not justified 15 to 20 years ago, and it is even more insane now. It is working out for me, Ill be paid off in a couple years and while Id have a lot more in the bank, it didn't really hurt my lifestyle. Also, without kids, I am doing all my catching up now while people spend way too much on those things.

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Work harder? You know the old saying hard work pays off? It doesn’t.

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Absolutely false. It separates you from the competition. Best way to work your way up the ladder as long as you are promotable.

I had $175k coming out of business school. I had many of days I wanted to quit my job, but I needed to get this monkey off my back.

Guess what, I stuck it out and paid the shite off. Suggest you stop being a bitch and do the same. The government fricks us over many ways, but this isn’t one of them.

Now, I do think it would be a solid policy to allow principal and interest to be a tax credit (or at minimum) full tax deduction. I did get screwed on interest deduction because “I made too much”.

Print out an amortization table for the remaining term of your loan. As you make a payment pay the NEXT month's principle in addition to the monthly payment. Then draw a line through the month's payment and a line through the next month's payment that you paid the extra principle. And keep it up till paid off. Pin it to the wall somewhere.
When you pay that extra principle, you just saved that month's interest payment. Seeing yourself sratch off month's of payments and seeing that interest money you're saving by paying that extra principle payment will do wonders psychologically. You're in a hole ,but you're digging yourself out You will be a much more smarter and better you when cone out of it.

I know we're all bagging on the OP here but I am curious to hear experiences from anyone who has been converted to one of Biden's new repayment plans.

Did you monthly payment go down or up?
How much you you owe?
What's your gross income?

As far as I can tell (and I am not a loan expert, CPA, etc) these new repayment plans are only designed to help people who borrowed too much money and never turned that money into a well earning job/career.

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Not everyone can get a second job

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Why?

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. I feel as an American I’ve been strangled for the last 3 years

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Do you believe because you're an American that life should be easy and you're exempt from struggle?

This thread definitely did not go the way you planned.

And yet it was fine when the rest of us were going to have to pay it for you.

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You're a bum I bet you like to bitch when you see someone whip out a LA purchase card at the grocery store, though.

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Nope, doesn’t bother me. I pay all my bills, vote red, raise my children, go to church. However, I just refuse to pay back the federal government. Consider it my version of welfare they gave me. Otherwise my entire life I would have never received any benefits like some real bums do, so I got the student loans and I manipulate all the programs of can kicking to get to a point where one day I may pay something, but I don’t worry now.

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No one knew interests rates in “everything” was going to go up.

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Everyone with half a brain knew interest rates were going to go up. The Fed has been communicating that for 2 or 3 years.