any cons in suspended student loans debt?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The government will suspend debt repayment due to the coming famine/inflation.

Debt repayment has been suspended since March 2020.

The requirement to repay has been suspended. Hopefully people have been smart enough to keep paying if they can afford it.

I have not. I’m going to take that debt to the grave. It’s my middle finger to all the rich kids who had a mommy and daddy pay for school. I worked my ass off through school and took loans to pay for health care, books, and room and board. (Well not really a meal plan, too much $$. I lived on $5 a week for food.) I’m earning a great living now and going to pay for my kids’ college. Student loans aren’t a high priority.

So.....you're giving a middle finger to your own kids? You certainly are a messed up individual....

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The government will suspend debt repayment due to the coming famine/inflation.

Debt repayment has been suspended since March 2020.

The requirement to repay has been suspended. Hopefully people have been smart enough to keep paying if they can afford it.

You’re better off investing what you would’ve paid and socking it into an account until payment comes due.

Except we all know the YOLO generation has not been saving or investing the money. They’ve been blowing it on crap or depreciating assets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The government will suspend debt repayment due to the coming famine/inflation.

Debt repayment has been suspended since March 2020.

The requirement to repay has been suspended. Hopefully people have been smart enough to keep paying if they can afford it.

I have not. I’m going to take that debt to the grave. It’s my middle finger to all the rich kids who had a mommy and daddy pay for school. I worked my ass off through school and took loans to pay for health care, books, and room and board. (Well not really a meal plan, too much $$. I lived on $5 a week for food.) I’m earning a great living now and going to pay for my kids’ college. Student loans aren’t a high priority.

So.....you're giving a middle finger to your own kids? You certainly are a messed up individual....

Federal loans (including parent plus & stafford loans) are discharged upon death, provided you submit proof of the death.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The government will suspend debt repayment due to the coming famine/inflation.

Debt repayment has been suspended since March 2020.

The requirement to repay has been suspended. Hopefully people have been smart enough to keep paying if they can afford it.

I have not. I’m going to take that debt to the grave. It’s my middle finger to all the rich kids who had a mommy and daddy pay for school. I worked my ass off through school and took loans to pay for health care, books, and room and board. (Well not really a meal plan, too much $$. I lived on $5 a week for food.) I’m earning a great living now and going to pay for my kids’ college. Student loans aren’t a high priority.

So.....you're giving a middle finger to your own kids? You certainly are a messed up individual....

Federal loans (including parent plus & stafford loans) are discharged upon death, provided you submit proof of the death.

Not if you had a parent co-sign.

[Anonymous]

Anonymous wrote:Way too many ingrained cultural issues to fix before we consider student loan forgiveness. You’re not entitled to the equivalent of free rent (forgiving loans for room & board), sorry. The vast majority of 18-year olds are way too immature to be away from home anyway, and unless they can prove they’re being physically abused by their parents, they can live at home during undergrad just fine. If they want to move out that’s their problem but I’m not interested in loaning them free money to do it.

You do realize that some families kick out kids for 18 right? Like staying home is not an option for everybody.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Way too many ingrained cultural issues to fix before we consider student loan forgiveness. You’re not entitled to the equivalent of free rent (forgiving loans for room & board), sorry. The vast majority of 18-year olds are way too immature to be away from home anyway, and unless they can prove they’re being physically abused by their parents, they can live at home during undergrad just fine. If they want to move out that’s their problem but I’m not interested in loaning them free money to do it.

You do realize that some families kick out kids for 18 right? Like staying home is not an option for everybody.

They shouldn’t be kicking their kids out. Hopefully through cultural change they’ll understand that the kid will not have anywhere else to go if they do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The government will suspend debt repayment due to the coming famine/inflation.

Debt repayment has been suspended since March 2020.

The requirement to repay has been suspended. Hopefully people have been smart enough to keep paying if they can afford it.

I have not. I’m going to take that debt to the grave. It’s my middle finger to all the rich kids who had a mommy and daddy pay for school. I worked my ass off through school and took loans to pay for health care, books, and room and board. (Well not really a meal plan, too much $$. I lived on $5 a week for food.) I’m earning a great living now and going to pay for my kids’ college. Student loans aren’t a high priority.

So.....you're giving a middle finger to your own kids? You certainly are a messed up individual....

Federal loans (including parent plus & stafford loans) are discharged upon death, provided you submit proof of the death.

Not if you had a parent co-sign.

Parent Plus loans (federal loans that are taken out for the student in the parents name) are discharged upon death. So are Stafford loans, which are taken out by the student only.

https://studentaid.gov/manage-loans/forgiveness-cancellation

“Federal student loans will be discharged due to the death of the borrower or of the student on whose behalf a PLUS loan was taken out.”

Some, but not all, private lenders will discharge student loans upon death. Sallie Mae does if the student dies. Private loans are in the student’s name but are co-signed by the parent.

https://www.salliemae.com/student-loans/manage-your-private-student-loan/get-help-with-special-circumstance/life-changes/

“ If a student dies or becomes permanently and totally disabled, we will waive the Current Balance.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sure. Let's cancel student loan debt. Then we can ensure that those who get their masters in "happiness studies" can indeed, be happy.

I don’t have a degree in Happiness Studies but it’s pretty clear there is no happiness in homelessness and soup kitchens.

The thing is that the generation fighting for student loan repayment isn’t standing in line at soup kitchens. They may not be able to afford a house but many are living their best life. Let’s not be overly dramatic while sipping our $7 Starbucks.

[Anonymous]

There is also a social disconnect that isn’t discussed. The system assumes that parents who happen to be high-income for many years also went to college and that it has occurred to those parents to save for college. Well, in my case, there is no way it ever would or did dawn on my consistently upper-middle income parents to open a college savings account. They did not go to college themselves and neither did my siblings. I arrived to senior year of high school with zero college savings and ended up starting at a community college. My EFC was in the $40,000s.

That is how people end up in those debt situations despite being meritorious.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sure. Let's cancel student loan debt. Then we can ensure that those who get their masters in "happiness studies" can indeed, be happy.

I don’t have a degree in Happiness Studies but it’s pretty clear there is no happiness in homelessness and soup kitchens.

The thing is that the generation fighting for student loan repayment isn’t standing in line at soup kitchens. They may not be able to afford a house but many are living their best life. Let’s not be overly dramatic while sipping our $7 Starbucks.

15% of student loan holders are in default, which leads to garnishing of wages and social security if you don’t rehabilitate.

[Anonymous]

This would significantly increase inflation: https://www.crfb.org/blogs/cancelling-student-debt-would-add-inflation

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Way too many ingrained cultural issues to fix before we consider student loan forgiveness. You’re not entitled to the equivalent of free rent (forgiving loans for room & board), sorry. The vast majority of 18-year olds are way too immature to be away from home anyway, and unless they can prove they’re being physically abused by their parents, they can live at home during undergrad just fine. If they want to move out that’s their problem but I’m not interested in loaning them free money to do it.

You do realize that some families kick out kids for 18 right? Like staying home is not an option for everybody.

They shouldn’t be kicking their kids out. Hopefully through cultural change they’ll understand that the kid will not have anywhere else to go if they do.

So we should build policy around an increase in multi-generational living?

[Anonymous]

Anonymous wrote:There is also a social disconnect that isn’t discussed. The system assumes that parents who happen to be high-income for many years also went to college and that it has occurred to those parents to save for college. Well, in my case, there is no way it ever would or did dawn on my consistently upper-middle income parents to open a college savings account. They did not go to college themselves and neither did my siblings. I arrived to senior year of high school with zero college savings and ended up starting at a community college. My EFC was in the $40,000s.

That is how people end up in those debt situations despite being meritorious.

No dude. There's not a whole lot of upper middle income (consistently!) people who didn't go to college themselves and hadn't a clue to save some money for college for their kids. Plus, if you were truly the first in your family to go to college and were so meritorious, you would have qualified for many 1st-in-the-family-to-attend-college scholarships. Those abound for people like you. Go get a job, be consistently upper middle income yourself (ask your parents how), and pay back your loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Way too many ingrained cultural issues to fix before we consider student loan forgiveness. You’re not entitled to the equivalent of free rent (forgiving loans for room & board), sorry. The vast majority of 18-year olds are way too immature to be away from home anyway, and unless they can prove they’re being physically abused by their parents, they can live at home during undergrad just fine. If they want to move out that’s their problem but I’m not interested in loaning them free money to do it.

You do realize that some families kick out kids for 18 right? Like staying home is not an option for everybody.

They shouldn’t be kicking their kids out. Hopefully through cultural change they’ll understand that the kid will not have anywhere else to go if they do.

So we should build policy around an increase in multi-generational living?

Yes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is also a social disconnect that isn’t discussed. The system assumes that parents who happen to be high-income for many years also went to college and that it has occurred to those parents to save for college. Well, in my case, there is no way it ever would or did dawn on my consistently upper-middle income parents to open a college savings account. They did not go to college themselves and neither did my siblings. I arrived to senior year of high school with zero college savings and ended up starting at a community college. My EFC was in the $40,000s.

That is how people end up in those debt situations despite being meritorious.

No dude. There's not a whole lot of upper middle income (consistently!) people who didn't go to college themselves and hadn't a clue to save some money for college for their kids. Plus, if you were truly the first in your family to go to college and were so meritorious, you would have qualified for many 1st-in-the-family-to-attend-college scholarships. Those abound for people like you. Go get a job, be consistently upper middle income yourself (ask your parents how), and pay back your loans.

Don’t know why you’re a nitpicking piece of shit.