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OfflineJT
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Registered: 02/28/07
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can't pay back student loans...what would happen?
    #12630410 - 05/26/10 05:20 AM (13 years, 9 months ago)

i've still got some time before i finish undergrad, and after that i'll hopefully have my loans deferred for grad school. still, i'm starting to feel the burden of all these loans i'm taking out.

by the time i finish my B.S., i'll have at least 25k of debt. that could easily double if i don't get any aid on my masters.

what happens if i graduate and then can't find a job in this economy? i mean, i'm sure i'll be able to find something, but a shitty restaurant job isn't going to cut it between loans, car, living expenses, etc. i'm banking on getting a decent entry level position somewhere but i'm afraid it will take some time.

what happens if i default on these loans?

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Invisiblememes
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Registered: 01/11/05
Posts: 27,785
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Re: can't pay back student loans...what would happen? [Re: JT]
    #12630533 - 05/26/10 06:28 AM (13 years, 9 months ago)

Start applying for jobs mad early.  Additionally, enroll in grad school early and apply for FAFSA a.s.a.p.

Luckily you have 6mo after graduation before they start sending you a bill (unless you get it deferred)

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Offlineiluvfungi
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Registered: 06/17/09
Posts: 1,488
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Re: can't pay back student loans...what would happen? [Re: memes]
    #12632409 - 05/26/10 02:42 PM (13 years, 9 months ago)

Go for the masters, it will be all peachy in 2-3 years by the time your done.

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Offlinextokex
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Registered: 10/22/09
Posts: 662
Loc: SoCal
Last seen: 7 years, 9 months
Re: can't pay back student loans...what would happen? [Re: iluvfungi]
    #12633603 - 05/26/10 06:10 PM (13 years, 9 months ago)

this was really helpful for me (i'm probably gonna have the same amount of debt in student loans in a few years when I graduate):
http://www.soyouwanna.com/site/syws/loans/loansfull.html

http://blog.studentloannetwork.com/graduate-loans/cant-find-a-job-should-i-go-to-grad-school/

You could go for a part time masters

Also depending on ur country, they might have volunteer programs which "forgive" the debt (so even if u can't find a job, you can still have ur debt forgiven by volunteering).
For example in the US they have the peace corps, amerricorps, and of course military service like the Army

If you don't pay and you default on ur loans, then you credit is fucked big time tho.
You can also double ur loan from 10 year repayment plan to a 20 year repayment plan
That will cut ur monthly minimum payment by like 33%, but obviously u will end up paying way more in interest, and pay each month for the next 20 yrs.

Edited by xtokex (05/26/10 06:21 PM)

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InvisibleGI_Luvmoney
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Registered: 05/10/09
Posts: 939
Re: can't pay back student loans...what would happen? [Re: JT]
    #12649244 - 05/29/10 06:39 AM (13 years, 9 months ago)

Thanks for bringing up this shocking delusional problem our society has.  If the Republicans were in control of Congress and the white house, unempolyment wouldn't be so high.

http://www.shroomery.org/forums/showflat.php/Number/12590286#12590286



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Edited by GI_Luvmoney (05/29/10 08:36 AM)

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OfflineGr8fulJ420
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Re: can't pay back student loans...what would happen? [Re: GI_Luvmoney]
    #12667806 - 06/01/10 05:22 PM (13 years, 9 months ago)

When all the Baby Boomers are retired and/or dead there will jobs and houses for everybody.

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InvisibleGI_Luvmoney
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Re: can't pay back student loans...what would happen? [Re: JT]
    #12673378 - 06/02/10 04:35 PM (13 years, 9 months ago)

Today, however, Ms. Munna, a 26-year-old graduate of New York University, has nearly $100,000 in student loan debt from her four years in college, and affording the full monthly payments would be a struggle. For much of the time since her 2005 graduation, she's been enrolled in night school, which allows her to defer loan payments.

http://finance.yahoo.com/college-education/article/109701/placing-the-blame-as-students-are-buried-in-debt?mod=edu-collegeprep

Fortunately, I never got a student loan or mortgage.  I watched too many Dudly Doright cartoons when I was little to want to have a Snidely Whiplash come after me.


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Edited by GI_Luvmoney (06/02/10 04:37 PM)

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Offlinezappaisgod
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Re: can't pay back student loans...what would happen? [Re: GI_Luvmoney]
    #12678664 - 06/03/10 01:15 PM (13 years, 9 months ago)

When I read that I wanted to punch her and her mother in the mouth.  NYU is about the most expensive university in the country, her mother has no money at all, there are excellent state universities in NY that cost one third of NYU, she might have gotten a scholarship from one of them, and she fucking majored in religious and women's studies.  And these two dumb cunts blame the lenders?

http://bucks.blogs.nytimes.com/2010/06/01/more-on-cortney-munnas-student-loan-saga/?src=busln

Quote:

Beyond my education itself, I learned how to survive in New York City. To describe my degree as “women’s studies and religious studies” doesn’t really do it justice. I’m an alumna of the Gallatin School of Individualized Study. I created my own interdisciplinary program in collaboration with an adviser. It involved courses from a variety of departments, including religious studies, gender studies, sociology, psychology plus several interdisciplinary and writing seminars. I had to defend my concentration in front of a panel of professors before graduating.




"I learned how to survive in NYC"?  Um, no you didn't.  And since when is that on a curriculum?  Here's how you survive in NYC.  MAKE LOTS OF MONEY!  Dumb fuck. 

Rigorous?  Oh fucking please.  What crap.  You know what's rigorous?  MATH!  I have a psych degree, sweetheart, I know how fucking easy it is to get a degree in bullshit.  She had to defend her concentration in front of a gang of navel gazing pinheads who happened to be in the 1% of navel gazing pinheads who actually get a job navel gazing.  Do you think there might have been a bit of self-justification going on there?  And then there's this final howler:

Quote:

My program was by no means a vocational education, but it was academically rigorous and helped prepare me for innumerable future careers (though it’s true that I probably won’t be an accountant, doctor or Wall Street executive). I thank the commenters who pointed out that women’s studies, sociology and religious studies are relevant in the world today.




She got prepared to be a waitress.  Maybe.

She and everybody else who thinks like that should get their fucking money back from the universities they attended.  They most certainly did not get an education.


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Offlinehotbod
Registered: 04/12/10
Posts: 277
Loc: Flag
Last seen: 5 years, 6 months
Re: can't pay back student loans...what would happen? [Re: JT]
    #12686193 - 06/04/10 03:55 PM (13 years, 9 months ago)

Quote:

JT said:
i've still got some time before i finish undergrad, and after that i'll hopefully have my loans deferred for grad school. still, i'm starting to feel the burden of all these loans i'm taking out.

by the time i finish my B.S., i'll have at least 25k of debt. that could easily double if i don't get any aid on my masters.

what happens if i graduate and then can't find a job in this economy? i mean, i'm sure i'll be able to find something, but a shitty restaurant job isn't going to cut it between loans, car, living expenses, etc. i'm banking on getting a decent entry level position somewhere but i'm afraid it will take some time.

what happens if i default on these loans?



if you have a masters you can get lots of jobs. youre just overly paranoid.


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"how does one prevent from swallowing a tounge"

http://www.shroomery.org/forums/showflat.php/Number/12838464

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InvisibleGI_Luvmoney
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Registered: 05/10/09
Posts: 939
Re: can't pay back student loans...what would happen? [Re: hotbod]
    #12887956 - 07/12/10 03:48 PM (13 years, 8 months ago)

Look what they're saying about the buffoon in the white house.

The Elite Turn Against Obama

  Lloyd Grove Lloyd Grove  – Wed Jul 7, 7:46 am ET

NEW YORK – Even the Aspen Ideas Festival, an annual gathering of the country's brightest lights, isn't Obama country anymore. Lloyd Grove on the president's waning support among the intelligentsia.

You’d think the well-heeled and enlightened eggheads at the Aspen Ideas Festival—which is running all week in this fashionable resort town with heady panel discussions and earnest disquisitions involving all manner of deep thinkers and do-gooders—would be receptive to an intellectually ambitious president with big ideas of his own.

In a way, the folks attending this cerebral conclave pairing the Aspen Institute think tank with the Atlantic Monthly magazine might even be seen as President Obama’s natural base.

Apparently not so much.

“The real problem we have,” Mort Zuckerman said, “are some of the worst economic policies in place today that, in my judgment, go directly against the long-term interests of this country.”

Obama’s top economic adviser, Larry Summers, and his departing budget director, Peter Orszag, can expect heavy weather when they land in Aspen later this week to make their case to this civic-minded clique of wealthy skeptics.

_breakAd_

“If you’re asking if the United States is about to become a socialist state, I’d say it’s actually about to become a European state, with the expansiveness of the welfare system and the progressive tax system like what we’ve already experienced in Western Europe,” Harvard business and history professor Niall Ferguson declared during Monday’s kickoff session, offering a withering critique of Obama’s economic policies, which he claimed were encouraging laziness.

“The curse of longterm unemployment is that if you pay people to do nothing, they’ll find themselves doing nothing for very long periods of time,” Ferguson said. “Long-term unemployment is at an all-time high in the United States, and it is a direct consequence of a misconceived public policy.”

Ferguson was joined in his harsh attack by billionaire real estate mogul and New York Daily News owner Mort Zuckerman. Both lambasted Obama’s trillion-dollar deficit spending program—in the name of economic stimulus to cushion the impact of the 2008 financial meltdown—as fiscally ruinous, potentially turning America into a second-rate power.

“We are, without question, in a period of decline, particularly in the business world,” Zuckerman said. “The real problem we have…are some of the worst economic policies in place today that, in my judgment, go directly against the long-term interests of this country.”

Zuckerman added that he detects in the Obama White House “hostility to the very kinds of [business] culture that have made this the great country that it is and was. I think we have to find some way of dealing with that or else we will do great damage to this country with a public policy that could ruin everything.”

Ferguson added: “The critical point is if your policy says you’re going run a trillion-dollar deficit for the rest of time, you’re riding for a fall…Then it really is goodbye.” A dashing Brit, Ferguson added: “Can I say that, having grown up in a declining empire, I do not recommend it. It’s just not a lot of fun actually—decline.”

• Lloyd Grove: We’re Not Post-Racial Yet• Lloyd Grove: Ruth Ginsburg’s Abortion WorryFerguson called for what he called “radical” measures. “I can’t emphasize strongly enough the need for radical fiscal reform to restore the incentives for work and remove the incentives for idleness.” He praised “really radical reform of the sort that, for example, Paul Ryan [the ranking Republican on the House Budget Committee] has outlined in his wonderful ‘Roadmap’ for radical, root-and-branch reform not only of the tax system but of the entitlement system” and “unleash entrepreneurial innovation.” Otherwise, Ferguson warned: “Do you want to be a kind of implicit part of the European Union? I’d advise you against it.”

This was greeted by hearty applause from a crowd that included Barbra Streisand and her husband James Brolin. “Depressing, but fantastic,” Streisand told me afterward, rendering her verdict on the session. “So exciting. Wonderful!”

Brolin’s assessment: “Mind-blowing.”

In a session Tuesday morning, Silicon Valley guru Michael Splinter piled on. “From an industry standpoint, it’s below what a lot of people in industry have viewed as the solution to the jobs problem,” Splinter, president of the Applied Materials solar energy company, complained about Obama’s economic performance. He was speaking to an agreeable audience in an interview with Atlantic Media owner David Bradley. “When I talk to venture capitalists, their companies are starting to move their manufacturing operations out of the United States…Our corporate tax rate, on a worldwide competitive basis, is just not competitive. Taiwan is lowering their rate to 20 to 15 percent in order to stay competitive with Singapore. These countries have made it their job to attract industry. You don’t get that sense here in the United States.”

The consensus was similar in an afternoon panel discussion on the decline of the American middle class. “He said jobs were going to be his No. 1 priority—there’s a huge disconnect between Washington and what’s going on out in the country,” nominal Obama supporter Arianna Huffington said. “The president’s economic team kept talking about a ‘cyclical’ problem. Larry Summers said jobs were a lagging economic indicator. All these things are simply wrong. The president put all his trust in the wrong economic team—an economic team that didn’t understand what was happening.”

Lloyd Grove is editor at large for The Daily Beast. He is also a frequent contributor to New York magazine and was a contributing editor for Condé Nast Portfolio. He wrote a gossip column for the New York Daily News from 2003 to 2006. Prior to that, he wrote the Reliable Source column for the Washington Post, where he spent 23 years covering politics, the media, and other subjects.

http://news.yahoo.com/s/dailybeast/8874_aspenideasfestivalobamalosessupportofnationselite


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OfflineRedstorm
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Re: can't pay back student loans...what would happen? [Re: GI_Luvmoney]
    #12888100 - 07/12/10 04:06 PM (13 years, 8 months ago)

Way to bump a month old thread with off-topic information.

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OfflineHeffy
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Registered: 08/30/04
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Re: can't pay back student loans...what would happen? [Re: GI_Luvmoney]
    #12888343 - 07/12/10 04:47 PM (13 years, 8 months ago)

Quote:

GI_Luvmoney said:
Thanks for bringing up this shocking delusional problem our society has.  If the Republicans were in control of Congress and the white house, unempolyment wouldn't be so high.

http://www.shroomery.org/forums/showflat.php/Number/12590286#12590286





:highfive:

A republican president and congress could have prevented the unemployment rate from rising even though it was caused by failing companies?

McCain would have just waved his magic republican wand and lowered the unemployment rate?

:facepalm::facepalm:


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I am the king of Rome, and above grammar! - Emperor Sigismund

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InvisibleGI_Luvmoney
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Registered: 05/10/09
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Re: can't pay back student loans...what would happen? [Re: Redstorm]
    #12888568 - 07/12/10 05:24 PM (13 years, 8 months ago)

Just because you don't understand it doesn't mean its off-topic.


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InvisibleGI_Luvmoney
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Re: can't pay back student loans...what would happen? [Re: Heffy]
    #12888570 - 07/12/10 05:25 PM (13 years, 8 months ago)

Your reading skills suck worse than Bubba's.


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Offlineuser1837483975
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Re: can't pay back student loans...what would happen? [Re: GI_Luvmoney]
    #12889219 - 07/12/10 07:39 PM (13 years, 8 months ago)

GI Luvmoney, I doubt you have any real friends

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InvisibleIcelander
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Re: can't pay back student loans...what would happen? [Re: user1837483975]
    #12898094 - 07/14/10 01:33 PM (13 years, 8 months ago)

At the asylum.:braindamage:


--------------------
"Don't believe everything you think". -Anom.

" All that lives was born to die"-Anom.

With much wisdom comes much sorrow,
The more knowledge, the more grief.
Ecclesiastes circa 350 BC

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InvisibleGI_Luvmoney
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Re: can't pay back student loans...what would happen? [Re: Icelander]
    #12905753 - 07/16/10 03:40 AM (13 years, 8 months ago)

Says the man whose country is on the verge of economic collapse because of bad investments his elected representatives had made.


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InvisibleGI_Luvmoney
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Re: can't pay back student loans...what would happen? [Re: user1837483975]
    #12905756 - 07/16/10 03:40 AM (13 years, 8 months ago)

I don't make friends with bums.


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OfflineRedstorm
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Re: can't pay back student loans...what would happen? [Re: GI_Luvmoney]
    #12905957 - 07/16/10 06:31 AM (13 years, 8 months ago)

I'm sure the bums (and everyone else) feel likewise.

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InvisibleGI_Luvmoney
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Re: can't pay back student loans...what would happen? [Re: Redstorm]
    #12946738 - 07/24/10 05:33 PM (13 years, 8 months ago)

So, you're pain and suffering means your criminal enterprise is coming to an end.  You dropped out of law school before even starting.  You will clean toilets for the rich for the rest of your life.


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