I was pre-covid, but rn I can’t conceive of a world where I’m actually about to cut these vampires a check
I took a look at mine and saw I’m accruing $117 of interest per month. Absolute vultures, I swear.
I’m waiting for a hilarious wave of defaults to sweep the nation. It should have been obvious that was gonna happen. I’m hoping it’ll have a similar effect to a general strike.
I’m scared to even log in to look bc it feels like some level of acknowledgement that they can track and then pin on me
How do you even default on a student loan without becoming a dependent? I was under the impression they could take it directly out of your paycheck and it couldn’t be dismissed as part of bankruptcy.
I think they just don’t do that often. Like, absolutely they could but it takes effort
It’s not that they don’t do it because it takes effort, it’s just a long process for them to get there. I have personally known someone whose paychecks were being garnished because they defaulted on 5-figure student loan debt, but he said that he ignored calls and letters for years and then ignored months (maybe even a year plus?) of court summonses to get to that point.
I was helping his wife fill out IBR paperwork and offered to help him with his and found out he had to be in this forced repayment for some period - couple years? idk this was ~10 years ago - before he could even apply for anything like that.
It’s an evil trap, and they really will come destroy your financial life.
Unfortunately
Trying to save up to do a group buy on a building with some folks so that we have more reliable / permanent community to fend off the coming capitalist apocalypse, and we can’t possibly secure a loan for that if we don’t all find a way to somehow pay off our student loans too. It’s awful. I make a decent amount of money and it’s still just totally unreasonable to expect anyone but the most affluent to be able to save for anything, let alone something like a building even if you’re sharing that cost burden, while also paying rent, and student loans, and buying food, and paying your ridiculous health insurance premiums and also still paying for your medical needs, and utilites, and literally all the random other bullshit capitalists make you pay for.
It’s not sustainable in any way shape or form.
Maybe in a similar boat, like I went to a university and used it to “start a career” and even though I’m making “a living” I still feel like I’m paycheck to paycheck and now these fucking cretins are coming out of the grave to take even more.
It would be great if going to a university and then working for years led to anything like owning my own home or not being like “shit this is bad” when I look at my grocery bill.
edit: nobody, university-educated or otherwise, should be barred from owning their own home, or be stressed out by a grocery bill. My personal path means nil in the calculus of who deserves to be happy and safe. I only say the above in response to the advertisement for the university path which I was constantly subjected to as a child, which was that by going to a university and then getting a job, I would be shielded from the meatgrinder of the supposedly lesser non-university-educated life path. Along with like, my entire family basically threatening to shun me if I did not go, and thus being agents for a loan agency.
Mostly we just buy a building and live in it. Instead of renting 4 different flats in different buildings we can buy our own building and live in that. Rent doesn’t change but it goes to our mortgage rather than a landlords mortgage. The math works out well but it’s a lot of work even for 6 people to save up for.
I couldn’t afford to even if I wanted to. And I don’t.
please check out the SAVE income derived plan. if you’re struggling, you won’t have to pay anything or pay very little, and interest won’t accrue.
Yeah I was a bit of an idiot and I refinanced with a private lender, so I’m stuck paying them
