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re: Why do people who have student loan debt feel like it should be forgiven?

Posted on 11/12/15 at 7:22 pm to
Posted by Brian12
Member since Apr 2015
392 posts
Posted on 11/12/15 at 7:22 pm to
If you went to school in Germany you wouldn't have to. That's just a scam they run here in the US.

quote:

That's a beef I have too. Why do I need to take two bio/chem classes as an accounting major?
Posted by gatorrocks
Lake Mary, FL
Member since Oct 2007
13992 posts
Posted on 11/12/15 at 7:26 pm to
quote:

to get a decent job out of college vs out of highschool


Instead of going to college for four years and going into debt:

Spend four years learning to code and making money on upwork.

Spend four years learning how to sell. Sell cars. Sell ads. Sell anything. Read anything by Ari Galper, Grant Cardone, etc. Read Influence by Robert Cialdini. Use his principles.

Spend four years building a business that cleans local businesses.

Spend four years building a mobile car wash business.

Spend four years creating videos and facebook posts for local businesses and learn how they want to market their business. Build a local marketing business.

Oh...You said job. You're right. You probably do need a four year degree if you want a good "job".

But if you want to make a lot of money, learn to solve problems.
Posted by cas4t
Member since Jan 2010
71881 posts
Posted on 11/12/15 at 7:27 pm to
quote:

Everyone would go to school and then declare bankruptcy



Huh?

No they wouldn't. That's pretty counter productive. What an idiotic line of thinking.
Posted by Lsupimp
Ersatz Amerika-97.6% phony & fake
Member since Nov 2003
85139 posts
Posted on 11/12/15 at 7:33 pm to
The part that amuses me, is the undergraduate presumption that they are somehow this valuable American resource inevitably destined for some unique greatness that we should all be so happy to have. Yeah great. In 20 years you will be lucky to be driving a minivan and wearing Mom jeans and going to Disney World with little Fidel. Until then, my precious flower,shut the frick up and make me my fricking smoothie.



Posted by macatak911
Metairie, LA
Member since Sep 2007
11083 posts
Posted on 11/12/15 at 7:42 pm to
100K of law school debt.

Work for the government for ten years all gets wiped clean and don't have to pay tax on the forgiveness of debt.

Hope it's still around when my ten years is up.
Posted by logjamming
Member since Feb 2014
8313 posts
Posted on 11/12/15 at 7:54 pm to
quote:

Bottom line is if you borrow money from an institution, you should understand that it comes with consequences


Not that I disagree, but plenty of bottom feeders borrow lots of money, live really nice lives, then file for bankruptcy. Why do we allow this when people attaining an education with borrowed money aren't afforded that option ?
Posted by logjamming
Member since Feb 2014
8313 posts
Posted on 11/12/15 at 7:56 pm to
quote:

don't have to pay tax on the forgiveness of debt.


This isn't true. At all.
Posted by jonboy
Member since Sep 2003
7411 posts
Posted on 11/12/15 at 8:10 pm to
quote:

The simple fact is that America is the only country in the history of Earth to demand payment for education.


You need to go back to college. Take some history classes.

ETA: If you can't afford it you should take out a loan.
This post was edited on 11/12/15 at 8:11 pm
Posted by Canard Noir
Houston
Member since Apr 2014
1397 posts
Posted on 11/12/15 at 8:16 pm to
I'm paying mine off and doing very well because of my education and my realization that once you get a job, you'll find your angle to get a better job.

It is horribly frustrating though to see anybody with a brain in LA can go to school for free nowadays. Where's my free education?

The greater question, "Do you consider TOPS Welfare?"
Posted by slaphappy
Kansas City
Member since Nov 2005
2371 posts
Posted on 11/12/15 at 8:23 pm to
Because students abused the practice in the past by graduating and declaring bankruptcy. During my days at and after LSU, I knew several of these thieves. Lowest of the low.
Posted by philabuck
NE Ohio
Member since Sep 2008
10391 posts
Posted on 11/12/15 at 8:43 pm to
quote:

Why do people who have student loan debt feel like it should be forgiven?


So we don't have to deal with the arse hats that took over the loans.

The steps that you have to do so your payment isn't applied as prepayment is comical.

Posted by macatak911
Metairie, LA
Member since Sep 2007
11083 posts
Posted on 11/12/15 at 8:46 pm to
quote:

This isn't true. At all.


Oh really?

"The 10-year public service loan forgiveness is not taxable under section 108(f) of the Internal Revenue Code because the forgiveness is restricted to borrowers who work in specific occupations. However, the 25-year forgiveness for borrowers who don't work in public service careers will represent taxable income to the borrower under current law. See Taxability of Student Loan Forgiveness for additional details.

Questions about Public Service Loan Forgiveness"
Posted by Hons Vonderjergen
Vlaardingen, Rotterdam
Member since Oct 2015
39 posts
Posted on 11/12/15 at 8:54 pm to
The interest rates should be reduced. They're basically risk less because you can never default so in turn the rate should be lower. Price gouging loan companies should be illegal. I could get a better rate at a pawn shop. Sheisty mother frickers.
Posted by INFIDEL
The couch
Member since Aug 2006
16199 posts
Posted on 11/12/15 at 8:57 pm to
Graduated with 100k worth. Not complaining. Just think the interest should tax deductible regardless of income
Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 11/12/15 at 8:59 pm to
quote:

Oh...You said job. You're right. You probably do need a four year degree if you want a good "job".

But if you want to make a lot of money, learn to solve problems.


The unfortunate reality is that many fields are simply off-limits if you don't have a degree. Take every single STEM field for example.

I don't think I'd be happy in sales or washing peoples cars. Making a lot of money isn't my priority.. I'd rather enjoy what I do. And I do I'd obviously like it a lot less if I couldn't live comfortably though.
This post was edited on 11/12/15 at 9:00 pm
Posted by MikeBRLA
Baton Rouge
Member since Jun 2005
17117 posts
Posted on 11/12/15 at 9:00 pm to
quote:

No they wouldn't. That's pretty counter productive. What an idiotic line of thinking


This is exactly why you can't discharge student debt via bankruptcy. You used to be able to do so, but you had people going to med or law school racking up huge amounts of debt, and then just filing for bankruptcy once they graduate. Boom, now they are getting big paychecks and are debt free.
Posted by ISEN_AG
ThunderWolf Manor
Member since Aug 2013
2269 posts
Posted on 11/12/15 at 9:02 pm to
My current owed plus am out paid is $108k. (86 left and 22 paid to date). I don't feel it should be forgiven, but I do believe they need to lower the interest rates. (Mine are between 3.8 and 8.5%) They're raping us at the start of our adult lives.
Posted by jose canseco
Houston via Houma via BR via NOLA
Member since Jul 2007
5667 posts
Posted on 11/12/15 at 9:02 pm to
Bc all the other poor people in The country are getting shite for free
Posted by HeadyMurphey
Los Santos
Member since Jan 2008
17272 posts
Posted on 11/12/15 at 9:04 pm to
Jesus, what is your degree in and how long did it take you? I can't imagine that type of debt.
Posted by HeadyMurphey
Los Santos
Member since Jan 2008
17272 posts
Posted on 11/12/15 at 9:05 pm to
quote:

Take every single STEM field for example.


There are tons of IT people with no degree
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