Reply to I know why Millenials can't afford houses and pay off their student loans..

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I graduated from college in the early 90s and no one was buying houses right out of college.

Everyone either had roommates, or was married. Some people stillmlived with their parents.

The homes were not single family homes in hip expensive neighborhoods. They were suburban apartments or town houses for those who wanted a little nicer homes, or dives in the city.

[b]I don't know why millenials aren't doing the same, ie getting roommates and living in less than ideal starter apartments just like everyone else.  I think a lot of their housing issues are because they have a warped hgtv idea of what their first place should look like, and think they deserve more so they just decide to live with mom and dad instead so they have fun money and nice things.
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I have no idea why they are too irresponsible topay off their college loans.

They might be educated, but they failed at basic consumer math when they chose to take out these exceptionally expensive loans for degrees that aren't marketable and from [b]overpriced expensive universities.[/b]

They should not get their debt forgiven. That is unfair to everyon who met their debt obligation or who made better, more responsible choices.[/quote]

Most millenials ARE living with roommates, or living at home with their parents to save money.

[b]My loans will be forgiven in 5 years. No I did not go to an overpriced university. I went to an inexpensive law school and graduated with $70k in loans that I couldn't pay off because the job was shit (thanks to those who crashed the economy while I was in college buying homes they couldn't afford or didn't have the income to purchase thanks to no accountability!), and the interest rates were high so my debt has doubled while I've been working a low paying job. Yes I will use the public program that is available so that my loans go away as soon as I qualify[u]. The government is what caused the problem, and the government is going to fix it.[/u]
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BTW, I'm a single mom (and DV survivor), and I live in a neighborhood of DC that has not gentrified, in my own modest home that I purchased using the low income tax abatement and a down payment assistance program. I'm going to use the funds available to me to make my life better and more stable. Not only that, I'm going to artificially depress my AGI until my loans are discharged (by contributing a higher than average amount to my 401k) so that my loans payments stay low. I figure my 70 year old self will thank me in about 35 years.

I figure if this country elected a person who is "smart" enough to figure out the loopholes so they don't have to pay any taxes, I can play games with my money too.[/quote]

No.

You caused this problem, not the government.

You are the one who chose to take out these loans. You are the one who picked your major. You are the one who picked your school.

Why did you take out $75K of loans for college? [b]Why didn't you do two years at NOVA community college? [/b]Why didn't you pick out a less expensive college or a marketable degree like accounting or a stable, in demand degree like teaching?

These are all choices you made. Why should we the taxpayers pay off your loans that you freely took out on your own?[/quote]

Glad someone said what I was thinking.....and I find it hard to believe that someone managed to get out school loan debt by waiting several years.  The government didn't do anything wrong, someone just made bad choices.  I also bet that debt is effecting their credit, although if the credit report says "deferred", then it may not be a big deal.  I also don't buy that the interest rate doubled.  I have school loan debt (currently going), and my [b]interest rate hasn't changed once. [/b] [/quote]

I didn't do 2 years at NOVA because I'm not from around here (moved here for work because I found a job here - after[b] LAW SCHOOL[/b]) I had zero debt after undergrad, because my boomer parents saved and paid for my state school education. After [b]law school[/b] I was supposed to be able to find a good job that would pay back the loans. That didn't happen because a bunch of idiots allowed the housing market to crash and take the economy with it. I got pregnant during school and (GASP chose not to have an abortion) and became a single mom. I'm taking responsibility for my actions - and using all of the avenues available to me to do it. (I was also on food stamps and medicaid and WIC while I was in school and immediately after, in case you really want to get mad about how much I abused your tax payer dollars)

To the next person, the [b]interest rate [/b]didn't double, the [b]balance on the loan[/b] did. I can't pay the interest on the loan, so the debt keeps increasing. My income was so low that I can barely make payments. What I do pay is always on time however, and qualifies for PSLF. So I'll be out of student debt in 5 years on your tax payer dollars. While raising a child, and owning my own home. [/quote]

I thought you could negotiate school loan payments.

I find it hard to believe that you are blaming the economy for job issues.  You couldn't find an entry level job (paralegal for instance) at any law firm?

Also, community colleges exist all over the United States.  Someone was using NVCC as an example because most people on this site are from the DC area.

I googled PSLF and found this: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service 
So, you made 10 years of payments first?[/quote]

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