re: Student Loan payback

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Sure, that's why you amended your statement, right?

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Nah, I amended it just because I'm a nice guy.

Your posting an opinion is in no way proof of anything, except your stupidity.

Any recent college graduate who signed student loan papers who went through the last 2, 3 or 4 years listening to the radio, watching TV, reading newspapers or magazines and somehow claims he didn't hear/read the constant mantra of "the Fed is going to raise interest rates" truly is an idiot of epic proportions.

If that shoe fits you, so be it.

I don't consider laughing at you as being a predicament. It's actually enjoyable.

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I'm not the one having to backtrack here because I said something dumb.

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Oh, you've said several dumb things in this thread. Such as claiming your posting an opinion is "proof" of something.

Or you claiming to know what the "vast majority of persons" in the U.S. know about interest rates or the Fed. Just because the Fed is a mystery to you, it doesn't mean it's a mystery to most people.

Or even better, like when you wrote the statement below when I posted "res ipsa loquitur."

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result to insults

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LINK

Result to insults? That doesn't make any sense...not that you'd know that.

And res ipsa loquitur is not an insult. It's just a polite way of saying in Latin "there's no need to explain something that's self-explanatory," or, literally, "the thing speaks for itself."

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Actually, one could argue that U.S. government backed loans are quite literally why your tuition was so high. $175k in debt upon graduation is sad.

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The crazy part is I also had ~$50k if my own money sunk in as well as a $50k fellowship. No I could have shaved off some cost, but in the grand scheme it would have been negligible.

The one difference is, this is a top pedigree program and I entered a lucrative, albeit stressful and competitive field, enabling me to pay it back in ~5 years by grinding it out at the job and being disciplined.

People in this thread asked why I didn’t save when Covid hit late 2019. Mmmmh I did. Guesss where it went? Inflation. Then the hurricane hit. I got in a car wreck that wasn’t my fault. Had to pay for a new vehicle. 2022 Kia forte. Most economically friendly car there is. I havnt been on vacation in 2 years. I’ve sold back vacation time 3 times this past year to pay bills. I don’t go out or eat out. Im living proof to all who still believe our country isn’t in trouble. I’m responsible and pay everything on time. I’m now paying back my student loans which should have been paid back this year and forgiven of it weren’t for the pandemic. With everything going up and up and up I m worried. I want to pay back what I owe not help what so many other owe

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Had to pay for a new vehicle. 2022 Kia

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you doubled down on your own frickup.

This thread is 13 pages and I’m not going back to read most of the comments…..so I apologize if this question has been asked.

Have you looked in consolidating your student loans? There are several pros and cons to it but it can lower your monthly payment. Also, have you talked to anyone about repayment plans? There are several options out there if you are struggling.

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I don’t understand did they not disclose the terms to you when you signed up?

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Not to derail the conversation but my son has about $10k in student loan debt that he has just recently started to repay. The system to make a payment is the most convoluted and confusing shite I have even been exposed to. Almost impossible to make a payment and it would be easier to swim to Europe than to set up auto-payment. He called me so frustrated he was about ready to just give up completely...he is adamant he is going to pay his back without complaint...but the payment system is as fricked as a soup sandwich. We have it set up on auto-pay now, we think, but time will tell.

He has 6 different loans. 2 of them are serviced by the Department of Education, 3 by some third party and the last on by another third party. No account numbers on any of them, just dates. 3 have the same date and are spread out amongst the three entities servicing them. It is the most confusing shite I ever got involved in and knowing how little adversity young folks his age have ever experienced there is no doubt many will curl up in a fetal position and not attempt to navigate the system, accruing late fees and penalties in the process which is the point of making it so damned difficult to make a payment.

Before anyone asks why our son needed loans he decided to forego a full ride at 2 different schools in engineering in favor of a film school degree. We told him he was free to make any decision he wanted but he had a college fund that was what it was and if it was not enough he was on his own given that he threw away 2 full rides. He ran out of money his last year and had to borrow money. We will reimburse him when he has paid them off because he is working in the industry...if he had not gone to work in the industry we would not reimburse him....choices have consequences. He made what appears to be the right one for him but when he did it I was ready to shoot him LOL

I realized recently that I've paid a shite ton of interest on mine. I've been making $300 dollar monthly payments the last 6 months and finally made some progress.

I hope to have it paid off in the next 6-12 months.