Mojoe Posted May 16, 2014 Report Share Posted May 16, 2014 did you see his screen name?? Proud to be deaf.... Come on JOE! LOL. What kind of security clearance comes with decoding screen names? I get it now that you point it out. Had no idea that's what it meant. Quote Link to comment Share on other sites More sharing options...
BloodRed Posted May 16, 2014 Report Share Posted May 16, 2014 Man my student loan interest rate was never above 1.5% during the whole time I had them. Once my loans went into repayment, I signed up for the auto withdrawal and they cut my rate to .25% as long as all payments were on time. Still glad those things are completely paid off now. Graduated college in 2001. Quote Link to comment Share on other sites More sharing options...
Turbs3000 Posted May 16, 2014 Report Share Posted May 16, 2014 I work with Sallie Mae and other loan companies, if you only knew the truth behind these companies :dumb: Do........... Tell....... Man my student loan interest rate was never above 1.5% during the whole time I had them. Once my loans went into repayment, I signed up for the auto withdrawal and they cut my rate to .25% as long as all payments were on time. Still glad those things are completely paid off now. Graduated college in 2001. that would be beyond amazing. I think my fed ones are between 4-5%, the wife's private are 7-8%. How is it people can get houses, cars, toys etc at lower rates and be capable of walking away and yet student loans are like they are... Quote Link to comment Share on other sites More sharing options...
wagner Posted May 16, 2014 Report Share Posted May 16, 2014 Do........... Tell....... that would be beyond amazing. I think my fed ones are between 4-5%, the wife's private are 7-8%. How is it people can get houses, cars, toys etc at lower rates and be capable of walking away and yet student loans are like they are... The only thing I can really say is that they are not run very well (Freddie Mac is the worst) and they pay tons of $$$ for outside law firms to do their work. Quote Link to comment Share on other sites More sharing options...
Jewtoys Posted May 16, 2014 Report Share Posted May 16, 2014 What are student loans? Quote Link to comment Share on other sites More sharing options...
Rocky31186 Posted May 16, 2014 Report Share Posted May 16, 2014 Screw Loans PERIOD... Im guessing you haven't bought a house yet? Even with LOW interest rates when you see the total amount after interest and cost of house your jaw drops. Screw SNAP ON loans also Quote Link to comment Share on other sites More sharing options...
Mallard Posted May 16, 2014 Report Share Posted May 16, 2014 Student loans also don't go away if you declare bankruptcy. Pay them off ASAP because they aren't going anywhere. Quote Link to comment Share on other sites More sharing options...
Wease Posted May 16, 2014 Report Share Posted May 16, 2014 Go finger yourself somewhere else, you rich elitist. But yes, it's quite fascinating. LOL @ Jones being rich... Quote Link to comment Share on other sites More sharing options...
PRD2BDF Posted May 16, 2014 Author Report Share Posted May 16, 2014 Screw Loans PERIOD... Im guessing you haven't bought a house yet? Even with LOW interest rates when you see the total amount after interest and cost of house your jaw drops. Screw SNAP ON loans also After seeing the cost of interest from college, fuck buying a house. Going redneck and buying a 5th wheel camper and live in it. Quote Link to comment Share on other sites More sharing options...
copperhead Posted May 16, 2014 Report Share Posted May 16, 2014 Pay it off faster and you won't pay all that interest, geez Imagine what life was like back before the days of quantitative easing when we still had high interest rates. It wasn't that long ago that I had a 9 percent interest rate on a truck with excellent credit. Quote Link to comment Share on other sites More sharing options...
Ramsey Posted May 16, 2014 Report Share Posted May 16, 2014 My brother owes 100+. He pays 1700 a month to make sure the parent plus loans and personal loans my dad took out are paid off as fast as possible. He is on a 7 year plan to pay it all off. Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted May 16, 2014 Report Share Posted May 16, 2014 Go finger yourself somewhere else, you rich elitist. But yes, it's quite fascinating. Rich? LOL I WISH ON A STAR EVERY NIGHT. I guess I'm surprised that you are surprised. You know how much tuition costs, you took a loan out for it and then complain that you have a loan. I don't bitch every month when I make my house and car payment. I'm seeing an alarming amount of complaints on facebook where people are complaining about the cost of education. Do you want all tuition to be free so you (and every other person on earth) can get the same degree for free? Might "de-value" your "education" slightly. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted May 16, 2014 Report Share Posted May 16, 2014 Why the fuck does America demand that we get a good education and makes it so expensive in the process. part of it has to do with the gov't having made loans so readily available thus supplying a bunch of kids with the ability to pay...thus colleges simply raise tuition....fuck why not, there's plenty of supply thus prices must not be high enough. If they shut off the faucet of money then the supply will drop and prices will follow. I'm in the process of becoming a teacher for the Deaf. I applaud the interest but a key in our society is to also balance out potential income vs what the costs are. I know they are looking at limiting funds being made available based on potential income of the jobs targeted. This will help too as there are too many people going for masters in art or philosophy racking up tons of debt only towards jobs that won't allow them to pay off said debt. My brother owes 100+. He pays 1700 a month to make sure the parent plus loans and personal loans my dad took out are paid off as fast as possible. He is on a 7 year plan to pay it all off. ^^ that's the way to do it. My wife had over $90k in student loans from Captial Law and we paid them off over the course of several year just by making it a priority to do so. Her income then went straight to investments. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted May 16, 2014 Report Share Posted May 16, 2014 Rich? LOL I LOL'd when I saw that comment too. GTR = Rich....really? Two kids in a decent daycare cost more per month than a 2014 GTR would. Must be a shit-ton of rich people in my neighborhood. Quote Link to comment Share on other sites More sharing options...
PRD2BDF Posted May 16, 2014 Author Report Share Posted May 16, 2014 I have no issues with the cost of tuition, in most cases, I consider it reasonable. My issue is the damn interest. 11,000 interest on a 20,000 loan? Really? Charging interest on interest, oh come on, even Xhibit would be shocked. I can't teach yet as schools for the deaf require a degree in deaf education first beforehand, I've tried. I work full-time and have 200 bucks in credit card debt. Even then, I'm still scrapping by. My goal is to find a way to consolidate the loans under a reasonable interest rate and pay it off Quote Link to comment Share on other sites More sharing options...
Geeesammy Posted May 17, 2014 Report Share Posted May 17, 2014 Holy FUCK, mother of God, Allah, whatever the fuck. I happened to look at my Nelnet account to see where I am at currently. I see it's 38,000. I think that's not too bad since that's for both undergrad and graduate. A bit browsing later, I about had a coronary. It'll actually end up over 53,000. WIth this one fucking loan accruing 11,000 FUCKING dollars in JUST FUCKING INTEREST. Yes, I'm bitching and moaning, fuck off. I'm going to have to look for a loan with better interest rates and just pay the whole amount off. Why the fuck does America demand that we get a good education and makes it so expensive in the process. I'd usually say "Not to be a dick, but..." but unfortunately in this case I can't. You chose to attend school, therefore you chose to pay for it since you did not receive scholarships to cover the full amount. Point being? Don't bitch about something you chose to do. Too many people have drank the kool-aid that makes them think you need to make $150,000 a year to be happy and land a $60,000 a year job right out of College. Most of the happiest and the most well to do people I know never went to school. They either busted their ass and made it in a company, or busted their ass and made their own company. Screw SNAP ON loans also This....but at least those tools can somewhat guarantee you make money easier and more of it in some cases. Those loans are an evil necessary unfortunately. Quote Link to comment Share on other sites More sharing options...
Draco-REX Posted May 17, 2014 Report Share Posted May 17, 2014 What would a bank take for collateral for a loan to pay off a student loan? Not sure how this works. Quote Link to comment Share on other sites More sharing options...
copperhead Posted May 17, 2014 Report Share Posted May 17, 2014 part of it has to do with the gov't having made loans so readily available thus supplying a bunch of kids with the ability to pay...thus colleges simply raise tuition....fuck why not, there's plenty of supply thus prices must not be high enough. If they shut off the faucet of money then the supply will drop and prices will follow. Most college students apparently sleep through economics classes I have no issues with the cost of tuition, in most cases, I consider it reasonable. My issue is the damn interest. 11,000 interest on a 20,000 loan? Really? Charging interest on interest, oh come on, even Xhibit would be shocked. Whats the term on that, 25 years? Like I said, if you pay it off fast then you will pay a fraction of that interest. I'm sorry that someone else was kind enough to let you use their money, with no collateral in case you decide to never pay it back. I'm getting tired of whiny ass kids bitching about "having to pay to go to school." No one is forcing anyone to go to college. No, it should not be "free" seeing how instead of you having to be responsible for your own choices, that just means one more burden to dump on taxpayers (hint - taxpayers take the hit if you don't feel like paying back your student loans, unless you went through a private bank, which is less likely). If you think you have to go to college to make it in life, feel free to do some reading on Mike Rowe's facebook page. Or take for example plenty of people on here. I bought a house at age 23, how many people do you know that went through college immediately after high school that can say they were able to do that? Jones didn't go to college and he has a GTR. Not to say that not going to college is better than going to college, it's simply a different choice that leads to a different outcome. My girlfriend is in college, on the path towards a very specific career that she should have no problem getting into. She occasionally brings up how much debt she's in, and I have to keep telling her not to worry about it because so long as she doesn't deviate from the path she's on, they won't be a concern when she's out of school. So my advice is instead of crying about how much you owe, do whatever it is you need to do to get into that career you want to be in. JUST GET THERE, whatever it takes. Once you are there, things get easier. For what it's worth, I went to college for about 3 years after high school, had no direction, no clue what I was doing. I quit, got a good job, and got my loans completely paid off in about 4 years. It's really not a big deal. Quote Link to comment Share on other sites More sharing options...
V8 Beast Posted May 17, 2014 Report Share Posted May 17, 2014 OU paid me to go to school. Too bad I blew it all on dirty hookers and investing in beanie babies. Quote Link to comment Share on other sites More sharing options...
1fast5gp Posted May 17, 2014 Report Share Posted May 17, 2014 Oh, and just in case you're ever planning on becoming a homeowner, look at the interest on your standard 30-year mortgage lol. Pretty much... if you want to bitch about student loans, don't ever buy a house. Maybe you should have paid more attention when you signed up for the loan. Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted May 17, 2014 Report Share Posted May 17, 2014 Screw Loans PERIOD... Im guessing you haven't bought a house yet? Even with LOW interest rates when you see the total amount after interest and cost of house your jaw drops. Screw SNAP ON loans also Drops isnt appropriate for what happened when i saw our loan for the first time. I think my heart stopped. last year we knocked off 30K in interest by moving to a 15 year loan.. cant wait to knock that down again next year to hopefully a 5 year loan.. Quote Link to comment Share on other sites More sharing options...
coltboostin Posted May 17, 2014 Report Share Posted May 17, 2014 I have been a loan officer for 6 years now and although I stick with residential mortgages, I am familiar with this issue as many levy a loan against the house to consolidate. So, I have seen every messy student loan situation out there. Like the health care system, the education system needs to be revamped from the bottom-up, not the other way around. If they only allow you to refi student loans into lower rates, it would be the same effect as Obamacare (to a point) and not attacking the real issue at hand, the perceived NEED for a college degree, and the COST of attaining one. Quote Link to comment Share on other sites More sharing options...
kirks5oh Posted May 17, 2014 Report Share Posted May 17, 2014 I had $150k after med school. I got off easy. Public school (osu) and I had some scholarship money there. My brothers wife owes north of $200k. Private med schools will put you $250-300k in the hole. It's fucked up. Thank god my loans are paid off Quote Link to comment Share on other sites More sharing options...
acklac7 Posted May 17, 2014 Report Share Posted May 17, 2014 I had $150k after med school. I got off easy. Public school (osu) and I had some scholarship money there. My brothers wife owes north of $200k. Private med schools will put you $250-300k in the hole. It's fucked up. Thank god my loans are paid off Yeah, but as already stated isn't it "the thing to do now" for Employers to Pay-Off Med school loans? My buddies wife got 6 figures right out of Med School (OSU) + they're paying off her loans. Quote Link to comment Share on other sites More sharing options...
kirks5oh Posted May 17, 2014 Report Share Posted May 17, 2014 Yeah, but as already stated isn't it "the thing to do now" for Employers to Pay-Off Med school loans? My buddies wife got 6 figures right out of Med School (OSU) + they're paying off her loans. Not always. And not in the big cities. After med school you have 3-7 years for residency where you make minimum. Just enough to pay interest if you're lucky. Quote Link to comment Share on other sites More sharing options...
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