A friend just had their loans discharged and the immediate relief and impact has been life changing for them. And I am thrilled for them. They can plan for their future and see life without burdens.

@Wilonda

10 ай бұрын

Wow, that's great news for them! I know that was a huge burden that was lifted.

I partially blame the elders. I still have people in their 50s saying, "Take out student loans and don't worry about the cost." Nope. When I went to college, I commuted to a close one. Room and board is very expensive. Even at 18 I could figure this out. Also, occupational outlook handbooks have been around foe decades. Should you really spend $65k in student loans for a poor paying job with an iffy long term outlook?

I made the worst decision to go to college, and I take my L for it and will work on paying it off as soon as possible.. but I’ll tell you this. I will never let my son go to college if he’s not committed nor to take responsibility in paying it off!!! I got much further in life no thanks to college! But I do plan to get my son either in trucking, trading school for carpentry/electrician/Plumbers or the military! Anything other than college if he’s not serious about it!

When the loans are “forgiven”, know that taxpayers are paying them back. It’s not forgiven.

i almost took out a 35K loan for an art school in 1992. I was 19. No web at the time to research anything so I asked my dad's opinion. He said in so many words "If you do it - i think somewhere down the road you will be sorry you did". I took his advice and remember throwing the application away. It was the smartest move i ever made. I ended up going to an in state university instead and came out with a BA. It was an unimpressive education - BA in communications/advertising. But it only set me back 3K.

In asia we don’t follow our passion or what we loved to do about but our parents do the most of the choosing which profession will be beneficial after we graduate. Seems absurd but it works for us😂 now we move out abroad here in US with no debt working salary more than a 100k annual with no debt but car,house paid off after 12yrs . We have good money literacy also and making investment and spending money wisely,now we were enjoying life in our mid 40’s not worrying about what gonna happen as we had investment and properties too back in Asia and can comes back there in a heart beat if something goes sideways here stateside. I believed the culture here in US makes people becoming poorer..I used to admired America before but after living here for 20yrs now my admiration into its people turn upside down years by years how people lived here. A lot of people outside US don’t know about this but be proud where you at because living in America is not what it used to be.

What jobs are available that pay the sort of salary that would enable them to payoff their loans much less rent and bills ?

Lol, he say’s he was “asked to borrow!”. No HE asked to borrow money. No-one asked him to borrow money. Having said that I agree with your comment about predatory, but at the end of the day everyone wants a degree., because it makes them look good. Not everyone is capable of it. So education that used to be certificates, associate diplomas have become degree’s unnecessarily and cost more. Republicans are right. If you get your loan forgiven, then its the lowest income earners that pay for that cost. The debt doesn’t disappear it’s simply covered by other’s. To solve this issue? Bring education and medical bills back under bankruptcy laws. That will change everything. The exploitation occurs because lenders want you to borrow. This is a biblical principle, all loans need to be cleared or forgiven after 7 years, to stop debt slavery. It forces lenders to only lend based on actual value and payback capability not, how much debt they can manipulate you into. Most degrees are useless, most insurance is not needed, and medical costs are absurd because…they can afford to be!

The predatory stuff is all okay but when you borrow and then after that you just change your mind about paying back on already decided terms makes you a fraud.

The problem is that the US has to restructure their educational system away from being a business, which is how these colleges can keep jacking up prices with government backed loans to students who may have to pay astronomical amounts for astonishingly useless degrees where no high value skillset is gained i.e Nutritional Studies. My advice , any 4 year degree has to give you skills that can get you gainful employment with compensation in your 1st year worth the entirety of your 4 year student debt, so if you borrow a 100k, your job should pay at least 90k. Anything less is a scam.

The guy with 244k in student loans is a doctor, right?

People don't research a major that has a good ROI. It's not setup anymore to be for people to just go to what interests you. It needs to interest you and be lucrative. Plus not everyone needs to be in college. It's reverting back to the rich and smart people who go. Skills are important.

Well u sign 4 it pay it back😂

These student loan debtors can't join the military or the USCG?

Sucks to be them. I'm so glad I never had that problem. XD

It wasn't unfair when you took the money

The idea they didn't know what a loan is at age 18 makes zero sense. You could explain what a loan is to a 6 year old, and no i don't think they're stupid because they made it to higher education!

At 18 you are an adult and can get drafted. Just saying.

You can join the military at 18 go to war and get killed. So the excuse that you didn't know any better at 18yr to borrow a lot of money makes no sense. I oppose student loan forgiveness, If you took out the loan pay it back.

No one forces anyone to go to college. You signed the papers so pay the loan back.