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re: Thought I'd share the biggest personal finance train wreck ever seen
Posted on 10/31/18 at 9:09 pm to foshizzle
Posted on 10/31/18 at 9:09 pm to foshizzle
quote:
I hate it say it but this situation genuinely makes me wish there was some sort of “degree viability” aspect to student lending. JFC this kind of behavior is going to cause the next financial crisis.
Yea this is how ive felt for some time about where this country is going. We will see another Freddie and Fannie situation in 10 years.
0
Posted on 10/31/18 at 9:09 pm to occams razor
At one time, they loaned enough money to live on.
Posted on 10/31/18 at 9:13 pm to occams razor
quote:
Unless you go to an Ivy League school or Cal Tech how can you have that much student debt?
Going to most any private college for 5-6 years, and living a student lifestyle that would rival most working professionals, that would do it easily.
This post was edited on 10/31/18 at 9:14 pm
Posted on 10/31/18 at 9:13 pm to foshizzle
Clearly a troll
Posted on 10/31/18 at 9:20 pm to foshizzle
She should blow off going back to school. They should both get extra jobs. The income from the extra jobs, all going to the loan, in addition to the real loan payment should have it paid off by the time she is in her 60's.
The interest is adding up to the tune of about $1700 per month.
They should buy a used $2500 camper trailer and live in it in a parking lot behind one of their jobs.
The interest is adding up to the tune of about $1700 per month.
They should buy a used $2500 camper trailer and live in it in a parking lot behind one of their jobs.
Posted on 10/31/18 at 9:21 pm to Hangit
quote:
They should buy a used $2500 camper trailer and live in it in a parking lot behind one of their jobs.
Posted on 10/31/18 at 9:23 pm to Hangit
Is anyone else kind of surprised she didn't hit it big with the Chinese herbal medicine degree?
Posted on 10/31/18 at 9:43 pm to OweO
She has spent any money they may be able to use for buying a house on Student loans. Who gets $28k a year in student loans? Then ignores them for 10 years?
They spend $500 per month eating out, $1100 on rent, $500 at the grocery store, and about another $700 in living expenses.
A used camper and some ramen is what they can afford until the massive debt is under control.
She is using him as a sucker to bail her out of her horrible life choices.
They spend $500 per month eating out, $1100 on rent, $500 at the grocery store, and about another $700 in living expenses.
A used camper and some ramen is what they can afford until the massive debt is under control.
She is using him as a sucker to bail her out of her horrible life choices.
Posted on 10/31/18 at 9:47 pm to foshizzle
Can't you get good jobs with a degree in math? Something technical I would think?
Posted on 10/31/18 at 9:50 pm to holmesbr
Those shows are the best. He's part-time zumba instructor and she has a mobile dog grooming business. Their budget...$1.5 million.
Posted on 10/31/18 at 10:05 pm to foshizzle
quote:
Guy starts a thread saying he and his wife want to buy their first house, preferably by the end of this year. in the best of circumstances right there.
He is 30 and makes $55k in Las Vegas with a HS diploma. Good FICO. His own situation isn't that bad actually. The fun begins with the wife.
His wife is 40. Works retail making $17/hr. Has $280k in student loans that's already in collections. She has two degrees - one in math and the other in ... Chinese herbal medicine.
Despite her previous educational problems, their plan is for her to attend nursing school and hope to get loan forgiveness down the road since it's a medical field.
She's going to need to give out LOTS of happy endings for that to happen.
Posted on 10/31/18 at 10:08 pm to foshizzle
This really isn't that bad. The best posts on r/PF are people who refuse to ask their wives to work, despite having 200k+ in students loans, 50k+ in auto debt, and 20k+ in CC debt.
Posted on 10/31/18 at 10:37 pm to Hangit
quote:
They should buy a used $2500 camper trailer and live in it in a parking lot behind one of their jobs.
You laugh, but there’s a kid who did this at google in San Fran and it was genius. Google has showers and food at their offices for employees so all he had to do was walk from the truck to the office for any of his basic needs.
23 year old Google employee lives in truck in parking lot and saves 90% of income
quote:
When 23-year-old Brandon headed from Massachusetts to the Bay Area in mid-May to start work as a software engineer at Google, he opted out of settling into an overpriced San Francisco apartment. Instead, he moved into a 128-square-foot truck.
The idea started to formulate while Brandon - who asked to withhold his last name and photo to maintain his privacy on campus - was interning at Google last summer and living in the cheapest corporate housing offered: two bedrooms and four people for about $65 a night (roughly $2,000 a month), he told Business Insider.
"I realized I was paying an exorbitant amount of money for the apartment I was staying in - and I was almost never home," he says. "It's really hard to justify throwing that kind of money away. You're essentially burning it - you're not putting equity in anything and you're not building it up for a future - and that was really hard for me to reconcile."
Posted on 10/31/18 at 11:31 pm to Tester1216
quote:
What doctor in there right mind would choose a 40 y/o nurse over a pink starburst smelling 20 something y/o nurse just coming out of college.?
A doctor in his early to mid 60s with 1 or 2 prior divorces.
Posted on 10/31/18 at 11:40 pm to BigPerm30
quote:
She’s going to become a nurse and dump his arse for a doctor.
aint no doc looking to bag a 40 yo nurse
Posted on 10/31/18 at 11:47 pm to foshizzle
quote:$280k for those?
one in math and the other in ... Chinese herbal medicine.
Posted on 10/31/18 at 11:48 pm to lsunurse
quote:
If you work in certain kinds of hospitals....you can get loan forgiveness after working there for 10 years, but it is only for student loans related to becoming a nurse. So it wouldn't cover the other 280K
There was a recent article about how the current admin is approving about 1% of applicants. The people are told they are eligible and, years later, rejected because they had the wrong loan, missed a deadline, job isn’t eligible, etc.
it was really sad how they totally fricked people who tried to do everything right, were told by the government they were doing it right, and then were told no. They essentially wasted 10 years working in some shithole for lower pay solely for loan forgiveness, then got shafted.
Posted on 11/1/18 at 12:26 am to Twenty 49
quote:
it was really sad how they totally fricked people who tried to do everything right, were told by the government they were doing it right, and then were told no. They essentially wasted 10 years working in some shithole for lower pay solely for loan forgiveness, then got shafted.
Hold on.
Nobody held a gun to this woman or any person's head to rack up sky high student loan amounts such as this. Nobody "fricked" them. They weren't told no when they were free to pursue Chinese medicine career paths or how to spend the money they borrowed.
Interesting that you see someone trying to welch on paying back taxpayers as getting shafted
Posted on 11/1/18 at 12:33 am to upgrayedd
She missed that day in class!! LOL
Posted on 11/1/18 at 3:47 am to foshizzle
How does one accumulate 280k in student loans with just two bachelors. Hell I went to school for 6 years and graduated at 40
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