Does anyone else owe a TON in student loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Making mistakes in life is and should be a learning experience, but it does not need to ruin the rest of your life. That is the message I was trying to convey to the OP.

That is absolutely right. It does not appear, however, that it has been a learning experience in your case.

I have to agree. It's incredibly poor financial judgment that PP is exercising. I can understand not postponing parenthood but it's downright irresponsible to SAH with that amount of debt paying interest only. This decision has as life-long repercussions as taking the debt in the first place. You don't have to go work 80 hour weeks in biglaw, there are other options so that you have work-life balance. It takes having skills, though, that you put you in demand such that you can dictate your hours and availability.

PP is a DCUM Princess, it's useless to point out the obvious to her.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It seems to me that there are a few people on this board who think getting an education and having kids are an entitlement. Please! Then, you talk about loan foregiveness, etc. This mentality is completely disgusting.

You're confused. The poster who stays at home who everyone is attacking is not talking about loan forgiveness. Also, the OP specifically stated she's paying her loans back and is not seeking out loan forgiveness. So what/who are you talking about? I think you've mixed the posts up. Also, since you seem to think the manner in which certain people have pursued their education and the way they've planned their famlies represents a disgusting mentality, why don't you provide some information on your education and family planning? Who knows, your situation may make a lot of people sick too.

you mean, her husband is paying her loans back.

What's the difference if she's paying them back or her husband is? Who cares? First, who keeps their debt separate from their spouse? That's absolutely bizarre. Do you people live different lifestyles than your spouses? "Oh, she had more debt than me prior to the marriage, so I have $2,000 extra in spending money every month while she can scrimp and eat ramen so she can pay her debt." Seriously, WTF???????????????

New Poster. Of course in most households the money goes into one pot so to speak, even if you have separate accounts. But asking someone to take on your significant debt - yeah, that's problematic for some people and I'm not sure why that's difficult to understand. If it works for that poster and her husband, fine, but count me in as someone who wouldn't be okay with that personally.

So you would not marry someone because they have significant debt?

'

Significant school debt? Yep, I would (not debt from gambling or something though). But I may not marry someone who went into a huge amount of debt and decided they didn't like working. Big difference there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
So you would not marry someone because they have significant debt?

Fact is lots of people wouldn't. Big student loan debt is being called the anti-dowry, or the new STD.

True love is hard to find.
Fact is lots of people claim to marry for love.

Either way, the moral of this thread is that college if for the rich. If someone had to go into debt, then instead of congratulating them for what they achieved, we must tell them how stupid they have been. And if they managed to have kids as well then we must all tell them they are irresponsible.

College if for the offspring of the rich. Those poor folks must have taken the spot of someone elses child of priveledge.

how bad of them. They could have settled for a life as a secretary or a waitress or an ambulance man or a traffic cop

Um, this wasn't college debt being argued here. This sounds pricey, private law school debt. And yeah, not everyone gets to go to a private law school. But if you do get that privilege, seems a shame to throw it all away. There are other careers besides law that a law grad years ago were qualified for (if she's got three kids I'm betting she's not a recent grad. Probably finished law school years ago when a law degree wasn't a complete waste).

[Anonymous]

What a bunch of judgmental weirdos. Anyone that takes the time to scold the PP who made a family decision that he would work and she would stay at home with the kids needs to get a life. Or, more likely, a life they actually like, so that they don't feel the need to come on here and be needlessly judgmental of an entirely personal choice.

I think people are frustrated b/c that PP sounds like she's living in La-La Land. I'm all for living your life, but you have to be responsible for obligations that you incur. Being a single-income family with a massive debt load is taking a HUGE risk. Realistically, that PP's family may never repay that debt, let alone provide a secure retirement for themselves. They are one disaster away from losing everything. I hope her husband is in good health because a serious illness or disability would be catastrophic in those circumstances. And when govt-insured loans aren't repaid or people need public assistance because they have no savings to get through a crisis, those things are no longer purely personal choices.

I don't like my job very much. I'd like to stay home. But we decided to do a major home renovation & now have to pay off a home equity loan. So I keep working, at least until that debt is paid. I guess I could quit my job & say "whatever, I just don't like working, didn't realize how hard it would be to pay back all this money I borrowed, but I'll chalk it up to a lesson learned" and proceed to do whatever I want. But I personally couldn't do that. It's called making choices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It seems to me that there are a few people on this board who think getting an education and having kids are an entitlement. Please! Then, you talk about loan foregiveness, etc. This mentality is completely disgusting.

You're confused. The poster who stays at home who everyone is attacking is not talking about loan forgiveness. Also, the OP specifically stated she's paying her loans back and is not seeking out loan forgiveness. So what/who are you talking about? I think you've mixed the posts up. Also, since you seem to think the manner in which certain people have pursued their education and the way they've planned their famlies represents a disgusting mentality, why don't you provide some information on your education and family planning? Who knows, your situation may make a lot of people sick too.

you mean, her husband is paying her loans back.

What's the difference if she's paying them back or her husband is? Who cares? First, who keeps their debt separate from their spouse? That's absolutely bizarre. Do you people live different lifestyles than your spouses? "Oh, she had more debt than me prior to the marriage, so I have $2,000 extra in spending money every month while she can scrimp and eat ramen so she can pay her debt." Seriously, WTF???????????????

New Poster. Of course in most households the money goes into one pot so to speak, even if you have separate accounts. But asking someone to take on your significant debt - yeah, that's problematic for some people and I'm not sure why that's difficult to understand. If it works for that poster and her husband, fine, but count me in as someone who wouldn't be okay with that personally.

So you would not marry someone because they have significant debt?

'

Significant school debt? Yep, I would (not debt from gambling or something though). But I may not marry someone who went into a huge amount of debt and decided they didn't like working. Big difference there.

EXACTLY.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It seems to me that there are a few people on this board who think getting an education and having kids are an entitlement. Please! Then, you talk about loan foregiveness, etc. This mentality is completely disgusting.

You're confused. The poster who stays at home who everyone is attacking is not talking about loan forgiveness. Also, the OP specifically stated she's paying her loans back and is not seeking out loan forgiveness. So what/who are you talking about? I think you've mixed the posts up. Also, since you seem to think the manner in which certain people have pursued their education and the way they've planned their famlies represents a disgusting mentality, why don't you provide some information on your education and family planning? Who knows, your situation may make a lot of people sick too.

you mean, her husband is paying her loans back.

What's the difference if she's paying them back or her husband is? Who cares? First, who keeps their debt separate from their spouse? That's absolutely bizarre. Do you people live different lifestyles than your spouses? "Oh, she had more debt than me prior to the marriage, so I have $2,000 extra in spending money every month while she can scrimp and eat ramen so she can pay her debt." Seriously, WTF???????????????

New Poster. Of course in most households the money goes into one pot so to speak, even if you have separate accounts. But asking someone to take on your significant debt - yeah, that's problematic for some people and I'm not sure why that's difficult to understand. If it works for that poster and her husband, fine, but count me in as someone who wouldn't be okay with that personally.

Honestly, NO! I WOULD NOT HAVE MARRIED MY DH IF I KNEW AT THE TIME THE INSANE AMMOUNT OF STUDENT DEBIT HE HAS. I am from another country and didn't even know it was possible to own that much money as student loans. My student loans were about 18k and it took me 5 years to pay it off. Also, I hate post that compare countries etc, but I have to say, I like the system in my country better. They only loan you up to 75% of your school tuition (case by case/need bases, not a student's choice), so the rest you have to either get a scholarship or work to pay for it. You also are responsible for all the extras such as supporting yourself and paying for your school supplies, including books. And while you are at school you have to pay the interests of the loan once a semester.

So you would not marry someone because they have significant debt?

'

Significant school debt? Yep, I would (not debt from gambling or something though). But I may not marry someone who went into a huge amount of debt and decided they didn't like working. Big difference there.

EXACTLY.

[Anonymous]

I can't imagine having such a huge debt, that for some is even more than a mortgage on a home.

[Anonymous]

Honestly, NO! I WOULD NOT HAVE MARRIED MY DH IF I KNEW AT THE TIME THE INSANE AMMOUNT OF STUDENT DEBIT HE HAS. I am from another country and didn't even know it was possible to own that much money as student loans. My student loans were about 18k and it took me 5 years to pay it off. Also, I hate post that compare countries etc, but I have to say, I like the system in my country better. They only loan you up to 75% of your school tuition (case by case/need bases, not a student's choice), so the rest you have to either get a scholarship or work to pay for it. You also are responsible for all the extras such as supporting yourself and paying for your school supplies, including books. And while you are at school you have to pay the interests of the loan once a semester.

[Anonymous]

Anonymous wrote: Honestly, NO! I WOULD NOT HAVE MARRIED MY DH IF I KNEW AT THE TIME THE INSANE AMMOUNT OF STUDENT DEBIT HE HAS. I am from another country and didn't even know it was possible to own that much money as student loans. My student loans were about 18k and it took me 5 years to pay it off. Also, I hate post that compare countries etc, but I have to say, I like the system in my country better. They only loan you up to 75% of your school tuition (case by case/need bases, not a student's choice), so the rest you have to either get a scholarship or work to pay for it. You also are responsible for all the extras such as supporting yourself and paying for your school supplies, including books. And while you are at school you have to pay the interests of the loan once a semester.

Third world country?

[Anonymous]

Anonymous wrote: Honestly, NO! I WOULD NOT HAVE MARRIED MY DH IF I KNEW AT THE TIME THE INSANE AMMOUNT OF STUDENT DEBIT HE HAS. I am from another country and didn't even know it was possible to own that much money as student loans. My student loans were about 18k and it took me 5 years to pay it off. Also, I hate post that compare countries etc, but I have to say, I like the system in my country better. They only loan you up to 75% of your school tuition (case by case/need bases, not a student's choice), so the rest you have to either get a scholarship or work to pay for it. You also are responsible for all the extras such as supporting yourself and paying for your school supplies, including books. And while you are at school you have to pay the interests of the loan once a semester.

yeah, but you chose to leave there and live here. Hmmmmm.

[Anonymous]

Anonymous wrote:

Anonymous wrote: Honestly, NO! I WOULD NOT HAVE MARRIED MY DH IF I KNEW AT THE TIME THE INSANE AMMOUNT OF STUDENT DEBIT HE HAS. I am from another country and didn't even know it was possible to own that much money as student loans. My student loans were about 18k and it took me 5 years to pay it off. Also, I hate post that compare countries etc, but I have to say, I like the system in my country better. They only loan you up to 75% of your school tuition (case by case/need bases, not a student's choice), so the rest you have to either get a scholarship or work to pay for it. You also are responsible for all the extras such as supporting yourself and paying for your school supplies, including books. And while you are at school you have to pay the interests of the loan once a semester.

yeah, but you chose to leave there and live here. Hmmmmm.

What does that have to do with anything? She paid her loans back. She is using her education. Just because the economy sucks (or whatever the reason is she left) doesn't mean everything else sucks there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Making mistakes in life is and should be a learning experience, but it does not need to ruin the rest of your life. That is the message I was trying to convey to the OP.

That is absolutely right. It does not appear, however, that it has been a learning experience in your case.

I have to agree. It's incredibly poor financial judgment that PP is exercising. I can understand not postponing parenthood but it's downright irresponsible to SAH with that amount of debt paying interest only. This decision has as life-long repercussions as taking the debt in the first place. You don't have to go work 80 hour weeks in biglaw, there are other options so that you have work-life balance. It takes having skills, though, that you put you in demand such that you can dictate your hours and availability.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:"We were late bloomers in the finances department, ok? "

And Common Sense 101.

Paying interest only on $300K in student loan debt, after having adding on a mortgage on top of that debt, having three kids, and having one parent quit the workforce, doesn't make you a late bloomer. It makes you a have not yet bloomed.

Yep.

And while having kids is a now-or-never decision, choosing to SAH is not. Especially while paying only interest on a huge loan.

Unbelievable.

[Anonymous]

Anonymous wrote:Gee, I can't begin to tell you how happy it makes me to hear all of you scamming your way out of repaying your school debts. As a fellow taxpayer, I say thank you. Thank you very much.

This loan forgiveness deal should be canned. I think I'll suggest it to the committee looking to balance the budget. Sounds like it could make a sizable dent.

Spoken like a true lamen. The scam is how much schools and student loan servicers charge students and how much misinformation they perpetuate when you're 18 years old and signing promissory notes so that your classes aren't cancelled. Douche.

[Anonymous]

Oh shut up, OP. A doctor and lawyer will earn it back.