Student loans

A piece by Stephen Lendman; it makes for grim reading.

A physicist friend of mine just told me this:

I keep filing the forms to delay repayment of my 3rd wave of university loans on the basis of unemployment. It took me 17 years to pay off my loans for Caltech (two B.S. degrees in 1973) and the University of Massachusetts (M.S., 1975, PhD All But Degree 1977). My son likewise delays his payments for the $60,000/year for 3 years at USC's Law School. Andy Nguyen My entire undergrad/grad education was financed by my saving/part-time jobs/ and scholarships. Never took a loan or received any type of financial aid. Loan is a huge dark cloud hovering over a man's head for many of his best years and I'm glad I'm not in that situation. bigbadwolf Loan is a huge dark cloud hovering over a man's head for many of his best years and I'm glad I'm not in that situation. I advise people to go to state schools (unless they're getting a full or almost full scholarship from a good private school). Yet in real terms, even state schools are now as expensive as -- if not a bit more so -- than private ones were back in 1980. bigbadwolf When Michelle Bisutti, a 41-year-old family practitioner in Columbus, Ohio, finished medical school in 2003, her student-loan debt amounted to roughly$250,000. Since then, it has ballooned to $555,000. It is the result of her deferring loan payments while she completed her residency, default charges and relentlessly compounding interest rates. Among the charges: a single$53,870 fee for when her loan was turned over to a collection agency.

(source)

I wonder how people manage to pay off their student loans from their unemployment checks when they spend all day posting on the forums.
The smart people are working 70 hours a week and making lots of  and we rarely see them on the forums.

Andy Nguyen

I wonder how people manage to pay off their student loans from their unemployment checks when they spend all day posting on the forums.
The smart people are working 70 hours a week and making lots of  and we rarely see them on the forums.
Based on TJ's assessment, I strongly urge all unemployed members to join me to increase level of forum posting lest people mistake us for droids working 70 hours/week and making ton of \$.

rajanS

I was thinking about this...I feel so bad for my parents to fund my education. Would getting loans help in Baruch? I am just afraid that if job prospects are again bad in 2 years, I dont want to be burdened by debt in addition to unemployment

Replies
2
Views
342
Replies
2
Views
501
Replies
17
Views
1K
Replies
2
Views
711
Replies
16
Views
1K