Grads Buried in Student Loan Debt, but Unwilling to Give Up Luxuries

[konceptjones]

Some people like nice cars and have no problem paying a note each month. I can't say that's stupid.

it's money out the window every month, and if you're a college grad it's possibly the most idiotic thing you can do. Cop a decent older ride for cash and if you want, take the money you would have spent on car notes and invest it and actually do something with that money to get ahead.

I feel you. But you're not listening, fam. We gotta stop demonizing any decision that we wouldn't make ourselves.

I can guarantee you spend money on SOMETHING each month that someone would call 'money out the window'. But that's their viewpoint. Not yours.

I don't pay for cable. Because I think my money is better spent elsewhere and I don't watch much tv. But that's ME. To the person who loves watching the later shows and for whom tv is an escape or their only leisure time or whatever...that's money well-spent.

People who have kids and want the newest safety features or who drive a lot for work or whatever and want to have a really comfortable car or a person who is an environmentalist who wants a hybrid or electric car or a person who wants whatever the fuck hey can only get in a newer car with a payment isn't stupid just for the fact that they chose a car with a payment.



Knock it off.

That's just my $00.02 though. Feel how you feel, my nigga.

@bolded, that ain't what we're talking about here. We're talking about college graduates that feel compelled to run out and get a car note but still have student loans to pay back, then get down the road wonder how they're drowning in debt.

Even still, you're acting like an older ride isn't comfortable, isn't safe, and doesn't save on gas, which is an erroneous assumption.

Nobody is demonizing decisions, we're saying the SMART decision for a recent college grad is to put off buying/leasing a new car and focus primarily on getting those loans off their back. If you do it smart, you can have them gone before you're 30... Depending on the amount you took out you could conceivably be done before you're 27 or 28.

If you want a car note, cool, do you, but the discussion at hand is bettering the financial situation of any recent college grad, and jumping out there with a car note plays right into the OP:

“They are very committed to living their life the way they want to live their life, and as frustrated as they are by student loans, they are not willing to make those lifestyle tradeoffs,” said Brendan Coughlin, president of consumer lending for Citizens Bank.

 

[T. Sanford]

Community college>>>

@MrSoutCity check yo inbox, I gotta ask you something

 

[AggieLean.]

Community college>>>

I'd have went this route if I had to do it over again. Two years at my local community college to get all the physics and calculus courses I needed, then finish out university.

Might have stayed home and went to Mississippi State, instead of going out of state also. Two years of out of state fees is what ballooned my debt.

 

[T. Sanford]

.

 

[Young_Chitlin]

 

[Young_Chitlin]

$28,093.30 in total debt

$4,848.84 left in signature loan (credit card consolidation)

$8,784.86 in student loans

$14,459.60 left paying my car

Debt is something that if you have a plan, you can get rid of. You can get out of debt in a pre-planned timeframe. Get a part time job if you have to. Cut your lifestyle down. What you cannot do is give up. Have a plan, have belief in your plan and then execute your plan CARAJO.

 

[Young_Chitlin]

 

[Swiffness!]

Articles like these make it seem like the student loan problem is not the serious issue that it is and put all the blame on students

"Why don't these silly poor people eat ramen and play tiddlywinks every night?"

 

[deadeye]

Articles like these make it seem like the student loan problem is not the serious issue that it is and put all the blame on students

"Why don't these silly poor people eat ramen and play tiddlywinks every night?"

Nobody's saying that though.

Just saying that a person's spending habits should be consistent with their financial situation.

Basically, that people shouldn't be spending money on things that they can't afford.

 

[zzombie]

Be SMART!!! you can reduce your debt if you go to a community college for undergrad and stay with your parents then go to another college for grad.

 

[LPast]

Be SMART!!! you can reduce your debt if you go to a community college for undergrad and stay with your parents then go to another college for grad.

Or even the last 2 years of undergrad.

 

[Neophyte Wolfgang]

a 30 year mortgage is straight debt. Plus when you do pay off the shit, you still have to pay property tax on something you owned outright. That doesn't even make sense to me.

It's a cycle and it goes like this

Go to college- on average the typical graduate coming out 40k in debt

Get married - on average the typical wedding cost 27k in debt

Buy a house - on average the typical home ownership debt is 120k

Then you have kids, kids have college fund. It's all a cycle.

I been telling my boys this, they rush in to everything like they trying to please their family or other people. Or the half ass rant they give of "look this is my life and what I want to do" blah blah blah.....you broke my dude stop masquerading around it

 

[aneed123]

Be SMART!!! you can reduce your debt if you go to a community college for undergrad and stay with your parents then go to another college for grad.

It's easy to say that after the fact. I share the same view now but at 17 I ain't know

 

[deadeye]

Be SMART!!! you can reduce your debt if you go to a community college for undergrad and stay with your parents then go to another college for grad.

It's easy to say that after the fact. I share the same view now but at 17 I ain't know

True.

I think.............to an extent.........that college is more of a social experience than an educational one for some students.

Granted, it might not be that way for the entire 4 years.......but usually for the first 2.

 

[Young_Chitlin]

 

[white sympathizer]

Nigga all i borrowed was 10k for my degree, moved up through the company I work for the past years and paid that bitch off in a year, i dunno how yall do that broke shit, that's trifling because its motherfuckers at my job in they 40s and 50s who if they miss one check, the house of cards will collapse for them, cant ever be me, i feel funny if my bank account aint atleast got 4 figures before the period and change

 

[Young_Chitlin]

https://twitter.com/DaveRamsey/status/762963271863373824

 

[Young_Chitlin]

How big of a problem is student loan debt in America? On one side, we are told that Americans have a staggering $1.3 trillion of student loan debt. The growth rate has been astonishing: ten years ago, the nation’s student loan balance was only $447 million. We hear stories of a generation buried under a mountain of debt forced to delay marriage, homeownership and children because of the burden. Not that long ago, you could work hard and graduate debt-free. Today, that is an impossible dream for millions of Americans.

 

[a_wack_poster]

Had 2 student loans out, one for bout $3700 and another for $5100 with all the added up interest. Ignored all the phone calls and letters to the house. One morning I got fed up with em waking me up out my sleep and told them I aint paying shit and you just gonna have to take it.

Week later them motherfuckers garnishing my check for the first loan. Check looking light as a feather after that extra deduction smh. Them niggas cut me and left me on a slow bleed for that first $3700 that I thought I was good when I finally paid it off. Nigga felt relieved, went out to celebrate.

Month later they hit me with the Billy Mays "BUT WAIT, THERE'S MORE!" letter. They told me I got 30 days to pay the full $5100 or they contacting my employer for garnishment.

Been on Jordan Cry Face all year looking at my check stubs dog. Fuck student loans.

 

[numbaz...80's baby]

Lol, I might give them $25 in 3 or 4 years.