Wait, in 20 years he's only paid 14k on his student loan, that's a ton of late fees and penalties. May be he should have worked hard on making his payment on time.
Comment on my video, most student debt is brutal financial enslavement of the young and inexperienced. Vile.pic.twitter.com/o7NtowzhTQ
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If you get behind even a little it'll keep getting steeper and steeper until they have you for life.
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It’s not. I’ve never made a late payment. It’s all interest. Fed loans are way too high. And nothing we can do about it. Trapped.
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((( hug)))
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Sorry, Stefan, this guy did it to himself. If he's paid that $14k over the last 20 years, that means he's paid $700/yr or ~$58.34 per month. This means he's paid probably less than minimum payments, which is how the principle could increase because he wasn't paying interest off.
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Learning how to live within a budget is a distinct problem in America.
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As a college student, I see to many people going over 100,000 dollars in debt to get a degree that will most likely land them a job as a barista. It’s almost like a college industrial complex, feeding on the young like greedy orcs
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A generation of freely educated bureaucrats imposes a fee-structure to ensure people in their prime are bound to a crushing debt which binds them to careerism and extinguishes the rebel within. No surprises here.
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Crazy. Who is forcing them to take out these loans? They should be held responsible.
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I remember it was drilled into my head that if you don't get good grades and go to college, you'll never amount to anything. It was A Complete and total lie.
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Yeah i saw that lie coming a mile away. after highschool i just got a trade job. ill probably never be rich but i make enough to live comfortably : )
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The surest way to make the price of anything skyrocket is for government to intervene to make it cheaper. Education is a prime example. Fortunately we have student loans to make education even more expensive and reduce the buying power of students for a decade after graduation
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I know doctors are notoriously bad with money but your colleague is ridiculous. You didn't mention your specialty but living modestly you should be able to pay those debts off in 3-6 years. That means a used BMW, living like a resident to clear the debt. Then a new life.
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Exactly.
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My guess is they're paying the minimum legal payment which I think is an interest only payment.
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I don't. To bad they didn't study financial and personal economics in school.
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