Student Loan Debt Handling.

[silogeorge]

Just leave the country if u cant pay and laugh at them

[starlitopensky1]

@silogeorge That'd be an option, but I recommend to have a big gun, in case the government tries to have debtor prisons.

[MoldytoasterMedia]

@silogeorge if you have a cosigner then they have to pay it.

[StudentLoansEscape]

STUDENTLOANSESCAPE . COM

[starlitopensky1]

@StudentLoansEscape Thanks for posting. Anything that will help people who have them is good. Also, anything that will discourage people from taking them and finding alternatives is good.

[waynedoyle1651]

i found a lot of info about student loans at studentloanportal . org . they do have the best guides in there

[starlitopensky1]

@waynedoyle1651 Thank you for posting this here. I hope that comments here will help people.

[rayme4raw]

Interesting, nice job thinking outside the box. I figured out how to default on credit cards, but my sister has student loans. I never realized how bad student loan debt could be until I did a little research.

[starlitopensky1]

@rayme4raw Oh yes, student loans were probably set up to entrap people. The colleges keep raising their prices, even though the schools usually are not worth it at all, and people are pressured to get a degree by many sources (friends, parents, jobs, what they watch on tv, etc.).

With what I know now, I would've spent maybe 1/8th or maybe less on college. It's a joke and I can gladly teach myself - I don't really need a school, except for the equipment that I don't have.

[rayme4raw]

@starlitopensky1 The parents were so proud of my sister for getting a BA, but in fifteen years, she never got a job that utilized the degree that she received. Now, she's $30,000 in the hole still with almost no disposable income. I think that as a family we're going to have to rethink our finances.

[starlitopensky1]

@rayme4raw And many people are told that college is a place where one can meet one's future husband/wife. Maybe so, but if one is going there to do that only it is very expensive. Just go there and hang out in a public hangout spot and talk with people, that's cheaper than spending money on classes that might be useless, if one isn't going there to really learn anything. Also, for me I have found a very a good way to meet women is at a dance club.

[Rockynurse]

Sorry but they don't need to take a settlement. These loans only get more profitable for the banker middlemen when you default. Obviously you do not work on the Street.

[starlitopensky1]

@Rockynurse Nor do most people work on the Street. You can tell us exactly how they become more profitable for the banker middlemen if a person defaults?

[avataz]

@starlitopensky1 If your loan is federally backed, the government ends up paying your debt and the bank still gets their money. Didn't learn much in college huh?

[starlitopensky1]

@avataz I know this. I don't appreciate your garbage talk.

[magdalulu]

Thank you!!!

[highmover88]

i need to pay 12,141 dollar for the student loan ~ i have low pay job , and im really struggling to get it done..

[starlitopensky1]

@highmover88 One thing I can say is that it's a good thing you don't owe 30K, 40K as I figure a lot of people do - you know what people have been taught, it seems, gotta do ANYTHING to get that degree...it is SO important, above anything else...

[highmover88]

@starlitopensky1 yeah its kinda funny , its like we were brainwashed that getting a degree is like the most important thing after you finished highschool ... anyway, i just got a better job, 900 dollars/RM1800 a month , as a Technician in IT department, anyway , im using a study loan that is based on Islamic banking , so there isnt any interest, as Islam forbids riba/interest, i have to pay 75% of what i have used ,

[starlitopensky1]

@highmover88 I'm glad Islam follows that. And it is nice that the loan will only require 75% repayment.  Good that you are working and getting experience as a technician too.

[sambamu]

very well said!

[starlitopensky1]

@sambamu You're welcome.

[farstarfilms]

Just paid off the loan at a lower amount

[Studentloandefault]

There are forgiveness programs available to student loan holders if you work in public service position.

[starlitopensky1]

That is good to hear.

And there might be settlements that can be done for lower amounts if the person is unable to pay the full amount borrowed.

[Studentloandefault]

I like what you said about settling out using a non secured debt.... SETTLE OUT your student loan WITH YOUR CREDIT CARD!

Settlements are offered typically with defaulted student loans. here is the math behind it...

PI--Principle and interest only (Without Collection fees)

PI50----Principle and 50% of interest

PI90----90% of the Principle and interest

[starlitopensky1]

Quite something. Looks like a better way is to buy gold & silver, and when the US dollar tanks use gold &/or silver to pay off debt (use gold if US dollar ends up to be 30% of what it is today because of inflation - use silver to acquire a truck load of cash if US dollar becomes totally worthless - and use a weapon to defend yourself against any debtor prisons/other bs if necessary).

[duhastmich1001]

Good thinking! I agree with you and think this is one of the smartest things you can do. Not to mention, if you buy it with cash, at a local coin shop, you can keep the asset off of the records and therefore, keep it in case of an asset seizure; thus, creditors don't know you have it.

[starlitopensky1]

@duhastmich1001 Buy gold/silver and don't tell the banks anything.

[starlitopensky1]

@Studentloandefault Student loans are definitely a trap, seemingly an intentional one.

[FutureCACPA]

@Studentloandefault

HA I know a guy that knew he was going to be broke after college so he maxed out credit cards to pay tuition instead of using student loans. A couple years after he filed for bankruptcy and it was all discharged!!! Fucking hilarious. Credit cards have a low level of bankruptcy protection.

[Studentloandefault]

Alot of people suffer from the student loan blues....

Its up to us to take care of this the right way..

If your student loan is in default it could get ugly..

[Rockynurse]

If you are smart enough to get a decent SAT score and get into college then you are smart enough to understand unmarketable degrees like art and psychology are not worth 50k in debt!

You signed the note so you pay it off you deadbeat! I am transferring next fall from a community college to a state college and I will graduate with under 10k in debt and a marketable degree.

Good luck debt slaves!

[starlitopensky1]

Good for you. But I don't know how a lot of people will end up paying their debt. Yes I wouldn't go to a college for a degree in art or psychology. These things one can learn oneself.

Thanks for your comment.

[Rockynurse]

They will pay it back because basically they are indentured servants. There is no way to get rid of student loans so they have no choice!

[starlitopensky1]

I hear you.

Well they can possibly get charge cards that give them checks and use the checks to pay off the student loans. And they can buy cheap properties that will have equity in them shortly after they do some basic appearance work on them, and then go to the bank(s) and get equity loans and then pay off the student loans. But those who have a huge amount of debt, a suggestion is: buy gold/silver and since the U.S. dollar

[starlitopensky1]

is collapsing through inflation their silver/gold will explode in value (10-20X the value when purchased, or maybe even more); then take the metal and pay off the student loans.

Obviously if at all possible never borrow them in the 1st place.

Since the government will slam through national healthcare you should still have time to make money from the work as a nurse. I don't trust the government though, they'll probably eventually be reducing a lot of people's wages -

[starlitopensky1]

but at least you'll be employed.

Thank you much Rockynurse for your comments!

[Studentloandefault]

good pointer starletopensky! Im a fan of gold too... but..

If gold goes up....

than unfortunately things are about to get really ugly...

believe it or not.. People are actually preparing their selves by moving far away into farms.. They bring their food, family, arms, and gold...

Im not paying 25 bucks for a loaf of bread...

Anyways we are a part of a system...

In a system designed in an interesting way.. Student loans are government Riiiiight??

[sfordgg]

im 250k in debt after law school at stanford now im going to be a prosfessional pimp in nv ive already got 21 hoes willing to let me pimp them, and their stanford women as well.

[starlitopensky1]

If each of them catch you about 13gees each you'll have thou debt paid off.

It is actually just unbelieveable (but believeable) that people can borrow that much for schools.

[roninmd]

The United States insistence that students assume huge debts to pay for their college education is unusual enough that the Chinese government included it in its 2001 report of American human rights violations. Now, China is no shining light when it comes to human rights but they do have an excellent point in this instance: America forces its young adults to go into obscene amounts of debt.

[starlitopensky1]

Yes it's a total scam! And what most people actually get out of it is probably a joke. People should read the book "Basic Study Manual" by L. Ron Hubbard. If you learn stuff from that you should be more able to teach yourself.

[demossmd]

If you have facebook, there is a group with 200+ thousand members called: "Cancel Student Loan Debt to Stimulate the Economy"

There is also a petition which you can find there.

[starlitopensky1]

I'm lucky to not have any student loan debt. I have a friend who has 65 thousand in debt. I'm thinking for her to get gold/silver coin and hold it and see what happens to U.S. dollar. If dollar becomes worthless, she can buy 100 grand for a silver coin and pay off debt. There are other ways of getting rid of it too. Thanks for the advice. Appreciate it.

[FutureCACPA]

@starlitopensky1

So how is your friend doing now? The payment on 65k would be sufficient to purchase a house in some places.

[starlitopensky1]

@FutureCACPA Well, he's a mechanical engineer and lives in Michigan. He has mainly done that most of his working life. He seems to not be able to find another engineering job, but he has found work concerning a motel. It's better than nothing. NAFTA & WTO & lack of suitable tariffs on imports, & some other items have affected him in a bad way. And now I hear China is looking to buy Michigan, or atleast part of it. If they come here, they will be killed.

[jkl11235]

The problem is that in this market you are not going to get a bank to give you an equity loan on a home you just buy...and if you were to find a $30K house really worth $60...why not just flip it & put the $30toward the student loan and save your credit rating? Also, good luck getting a credit card limit of say $50K now..if you have a $50K credit limit its probably because you have a $45K balance on cc...I doubt there are many people with a $50K credit limit and a near $0 balance...

[rayme4raw]

@jkl11235 You're right on all counts. I don't think that someone with college loan debt plus credit card debt is going to get a $30,000 mortgage, let alone a home equity loan. I've watched my credit card limits drop to just above what I owed even though I had perfect credit in the last year. If you have a $20,000 credit limit, it's because you owe $19,900.

[FutureCACPA]

@jkl11235

The only people I have known with that kind of a limit qualify for the AMEX Centurion, AMEX Platinum, or Visa Black. You need at least a few hundred thousand in income and around 5 million in net assets.  I aspire to have this card some day. The only people I personally know that carry this card are executives, medical doctors, cpa firm partners, and lawyers.

[cmountain6]

Thanks for the info.

[starlitopensky1]

Absolutely!  Pass it on.

[starlitopensky1]

You can also get credit for work experience and for stuff you know. Observe what is the status quo says (how things are said to be done at this time by the "authorities") and then do what "you" want (find out what you can rig up for yourself). Don't ever believe the status quo! F them!

[cmountain6]

Thanks for the info. US students who maintain good grades should be given free college ed. as well as have their student loans forgiven. This would be a better investment and expenditure for the country than these RIP-OFF banker bailouts and the phoney wars based on lies.

[starlitopensky1]

There are also online schools & CLEP (College Level Entry Program).