Forgive my student loan!

I don't think anyone agrees that student loan debt should be forgiven, it should just be made easier to repay.
Someone making a $25,000 salary can not pay $1200 a month back to Sallie Mae. That's practically their entire salary after taxes.
But I bet this person would prefer an opportunity to make $45k somewhere else, but those jobs are limited right now.

I would need a very credible example of whose student loans could potentially be $1200/month and makes $25,000/year.

shut up

*LOL* Cute

.

So how does a young person who is lucky to make $40K/year out of college (if they are lucky enough to find a job) supposed to pay down on their $50K student loan debt, pay their $1200/month apartment rent, while making payments on their $20K honda civic, while saving up for their $40K down payment, so they can buy their $200K townhouse before they turn 30, because heaven forbids one day they might want to actually start a family. See its almost impossible to start from scratch these days. Most of the young people cannot get out of debt without their parents' help.

Another example of entitlement. When you get out of college, you get an affordable apartment, car and live within your means until you get your loan paid off. Then you get whatever is next important..an expensive apartment/house or a new car and pay on that until you either get promoted and a big raise or you can AFFORD to buy the next item on your wish list. You don't automatically deserve EVERYTHING just because you finished school and found a job. Work for it! You will appreciate what you have much more if you do. Society isn't going to spoil you like your parents did. And the parents who still have children at home; please instill a work ethic in your children. Our society will go down in flames if something doesn't change. We have a free country, but we all have the responsibility to pay for the privilege. Work, pay taxes and enjoy having a choice in how/where you live.

The other factor that no one likes to touch on is the fact that higher education makes our society....
The more educated we all are, the better world we know how to make for us and the generations we hand it off to.

A good higher education should be attainable for all of us.

An English degree is worthless? Who gets to decide what is an acceptable area of knowledge to acquire? We'd be a pretty sad society if were all about "ROI". An education is for - well, an education, not just "job training".

I knew that would get jumped on as soon as I posted it. I didn't mean to offend anyone or declare one degree to be more "acceptable" than another degree.

However, my point is that taking out a loan for an education should be a fiscal decision, and too many times currently it is not treated as such. Borrowing large sums of money to get a degree that will not provide you with a return on the financial investment you made by borrowing the money does not make financial sense.

But I do agree, an education is not just job training. But those lessons you learn in college outside of the classroom don't require a huge financial bill. They can be had at colleges of all sizes.

shut up

Wow. You make a great case there, Champ.

shut up

Wow. You make a great case there, Champ.

I was just being sassy

I normally don't give guys flowers, but since there's no blow job smiley, here....:flowerforyou:

There's a suggestions forum somewhere on here. Please.

Oh, the suggestion has been brought-en... or however you say that via type

This is why I studdied my *kitten* off to get a scholarship... I have about 8k from housing/books and that's it

My husband had a scholarship as well but.. Housing was insane about the same cost as classes, and in order to recieve said scholarship he had to live on campus... (crazy) left with 40,000 in student loans and 2 degrees... He went to work...And pays them off... Shocking that we should be held responsible for our loans!

I didn't have to borrow a cent. My parent's and I paid the whole bill. If there's loan forgiveness, then I need at least 25 cents on every dollar in tuition and room and board I paid.

An English degree is worthless? Who gets to decide what is an acceptable area of knowledge to acquire? We'd be a pretty sad society if were all about "ROI". An education is for - well, an education, not just "job training".

If you can afford to look past ROI, then by all means, go ahead. But if the cost exceeds the benefit, there's something wrong.

Benefit to whom?

If a student borrows for an English degree, they agree to, and should, pay it back. It's not society's place to decide whether the study of English is valuable enough.

It's only society's place if society is paying for it. If not, get that degree (and pay for it) in whatever you wish!

Ok but even if the "state" is paying for it - if the decision about what is and isn't valuable to provide the education for is decided only in financial terms, society will fail. We'll have a great economy, sure. But an otherwise bankrupt society. Civilization <> Commerce.

I expected a response like this from you. So just as I stated, you are perfectly fine with the burden of your hardship going on to anyone other than your daughter.

I was raised to never buy something you can't afford.

Its impossible to not buy things you can't afford when you live in an environment where nothing is affordable! Nobody can afford colleges these days. Nobody can afford to buy a house these days. I am guessing you are middle-aged, I don't think many of these types have the slightest clue what the young workforce has to deal with these days. High student loan debts, high mortgages, lack of jobs, etc.

Not sure what the definition of middle-aged is, but I am 42. I am well aware of the issues the young workforce are dealing with. Not going to debate the high student loan debt again. I worked my way through college. High mortgages because they bought more than they could afford. Possibly bought using an ARM.

Will definitely give yout he lack of jobs, but that isn't just a young workforce issue. Many "middle-aged" workers have that same problem.

So how does a young person who is lucky to make $40K/year out of college (if they are lucky enough to find a job) supposed to pay down on their $50K student loan debt, pay their $1200/month apartment rent, while making payments on their $20K honda civic, while saving up for their $40K down payment, so they can buy their $200K townhouse before they turn 30, because heaven forbids one day they might want to actually start a family. See its almost impossible to start from scratch these days. Most of the young people cannot get out of debt without their parents' help.

Find cheaper rent.
Find a cheaper car.
Find a cheaper house if you can't afford a 200k townhouse.

Why on earth should I help them pay off their student loan bills?

Ditto.

It took me 10 years, but I managed to pay off my $30,000 in student loans (graduate school - undergrad was 4 years of scholarships) and save money for a house. I lived in a horrible apartment ($500 rent split with a roommate), with my crappy car (that did just fine to get me from point A to , and ate cheap food. I didn't rack up credit card debt. I didn't defer my loan payments. I drove a Ford focus (floor model, no cd player, no sunroof, no remote locking, etc...). I wore clothes from Wal-mart, Target, and Kohls (not Nieman Marcus and Saks). I had a piece of crap cell phone (not an iphone). I had my college computer (not an ipad). I didn't go any vacations for 7 years. The problem isnt that our kids are incurring debt (to some degree). The problem is we don't teach our kids how to budget and pay-off the necessary debt. We teach our kids they need a $20,000 car and a $200,000 home, when a $2000 car and a $500/month rent is plenty.

An English degree is worthless? Who gets to decide what is an acceptable area of knowledge to acquire? We'd be a pretty sad society if were all about "ROI". An education is for - well, an education, not just "job training".

You can get a degree in anything you want. Employers get to decide if it is worth anything.

If you spend 100k to get a degree so you can land a job starting at 30k per year you may be educated but you are not very intelligent .

[[/quote]

So how does a young person who is lucky to make $40K/year out of college (if they are lucky enough to find a job) supposed to pay down on their $50K student loan debt, pay their $1200/month apartment rent, while making payments on their $20K honda civic, while saving up for their $40K down payment, so they can buy their $200K townhouse before they turn 30, because heaven forbids one day they might want to actually start a family. See its almost impossible to start from scratch these days. Most of the young people cannot get out of debt without their parents' help.
[/quote]


Interesting.

I make less than 40k, so does my husband. We have just about the same in student loan debt, pay more for the mortgage on our home, and own both our cars.

Solution?

We have used cars that we paid for with cash. We bought a home that, while it needs work, fits in our budget, and we make smart choices.

He isn't even done getting his degree and it has already cost him 22k a year.

I have two degrees and will be paying them off til I'm 35.

All comes down to you make choices that suit your situation. If I can't afford a brand new car and car payment, I sure as hell aint paying off someone else's school loan.

Hoping this helps get rid of the urine-soaked, entitled hippie occupier scent in here.