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Old 04-12-2024, 04:55 PM   #9751
Lathum
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Join Date: Dec 2001
Location: homeless in NJ
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Originally Posted by molson View Post
The refund is ultimately going pay for my wedding this year. Otherwise, I was a bit over-extended on that (that wedding planning shit has a way of expanding past your initial expectations).

The extra income isn't a huge life-changer for me on a month-to-month basis, I was paid ahead on the loans, they were were locked in at a very low interest rate when I consolidated years ago, so I mostly just paid a little here and there to make sure the balance didn't increase, but it otherwise it made more sense to pay those slowly. So I may not be the right person to settle your argument. But most of the extra money will go towards my retirement accounts and paying down a HELOC balance (which may have the effect of me feeling a little more willing to spend on stuff like home improvements).

I started at $120k debt for college + law school in 2006 (way too much to take on, but, I was young and dumb and felt like I was at a dead end in life and my career, so I went for it.) Paid aggressively for a while, got about $20k in grants from my law school for doing public service along the way. I've had the last $45k for a few years now between paying only the interest, and the not paying at all during the COVID pause.

So I'm probably not the most sympathetic loan forgiveness recipient now in that they're not a huge life obstacle, but, I had a lot of lean years with this hovering over me, and my retirement investments were definitely delayed by years as I took that debt on.

Thanks.

My brother in law is a financial genius. He was two steps below Jamie Dimon before he retired at the age of 48 to race cars. We have often discussed the student loan situation and he is in agreement with me that it would be an amazing stimulus to the economy since most people would use the extra money to go out to eat more, purchase a new vehicle, etc...so your wedding example backs that up somewhat.
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Old 04-12-2024, 08:16 PM   #9752
Qwikshot
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Originally Posted by Lathum View Post
Thanks.

My brother in law is a financial genius. He was two steps below Jamie Dimon before he retired at the age of 48 to race cars. We have often discussed the student loan situation and he is in agreement with me that it would be an amazing stimulus to the economy since most people would use the extra money to go out to eat more, purchase a new vehicle, etc...so your wedding example backs that up somewhat.

I've never understood the push back to this. It makes sense that if you didn't have loans, you had a viable degree and job, that the income you'd earn some of it would be disposable and thus stimulate the economy.

My loans are paid, I don't have any. I'm blessed, I'm happy for anyone who is having them paid off. There is no bitterness or what about me...

The what about me stuff is just pathetic, there's always someone who feels shrifted (generally by their bad choices) and want to screw everyone else from betterment (hence MAGATs).

This is also why I shake my head about not having universal healthcare, wouldn't it then reduce weight on companies to not have to shell out for let's face it nine times out of ten pretty shitty insurance. Wouldn't universal health care allow them to then allow employees to maybe put that money into 401k or disposable income, sure you'll have higher taxes but you're covered. Companies could also then redirect money to other things. Insurance companies wouldn't go kaput, they'd have the largest customer in the US Gov'nt.

I just don't get. Too much fuck you I got mine, or if I can't have it no one can.
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Old 04-12-2024, 10:17 PM   #9753
NobodyHere
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Originally Posted by Lathum View Post
Thanks.

My brother in law is a financial genius. He was two steps below Jamie Dimon before he retired at the age of 48 to race cars. We have often discussed the student loan situation and he is in agreement with me that it would be an amazing stimulus to the economy since most people would use the extra money to go out to eat more, purchase a new vehicle, etc...so your wedding example backs that up somewhat.

So would he be cool with giving every American citizen 55k? Think the of spending everyone would do!
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Old 04-12-2024, 10:29 PM   #9754
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I've never understood the push back to this.

It's simply because someone has to pay for that stuff.

If Peter is robbed to pay Paul then Peter isn't like to congratulate Paul on his newfound wealth.
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Old 04-12-2024, 10:55 PM   #9755
Qwikshot
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It's simply because someone has to pay for that stuff.

If Peter is robbed to pay Paul then Peter isn't like to congratulate Paul on his newfound wealth.

Most student loans are predatory; most kids who get student loans have to do so because they're living hand to mouth or their parents are and they have no recourse but to get loans that exceed really the value of college.

So what are youre options? You take the loan if you want a real career. Some careers require masters degrees, guess what theres another loan. Now you have your degrees but you are competing in a job market, you have have transport, you have to have place to sleep, you have to have food and utilities.

People like you are the problem. I assume your thought is if you can't afford it don't do it, well with education you don't have that option. You can be a stupid unskilled laborer but you won't be able to live.

Oh and I think in Europe the majority of college education is free. It's publically funded because you know who wouldn't want their citizens to get good education so they can get good jobs so you know stimulate the economy and have a skilled workforce populace.

This whole bullshit persona of pull yourself up by your bootstraps is so you can be poor and stupid. The mindset that it is robbery if the public gets "free" education/public health (meaning taxes go towards it) is one of the nastiest tricks the rich have played on you.

Like I said, I don't really care. My loans are paid for my degrees(bachelor and masters). I got a nice house in a nice area (suburbs). Good public school for my kids. My company has an okay health insurance and I've got about 400k in my 401k (I took out a chunk to pay for said house but that's okay it's doubled in value). I don't make too many extravagent purchases; I live easy, I can buy the things I need when I want.

My daughter is just finishing up her masters. Her loans are paid. Her starting salary is just North of 93k. She'll be fine at 23. Not a lot of kids will be.
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Old Yesterday, 11:41 AM   #9756
NobodyHere
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Originally Posted by RainMaker View Post
We could just make people pay their taxes too.

Pfizer’s Massive Tax Dodge

That too.
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Old Yesterday, 09:54 PM   #9757
RainMaker
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That too.

Another savings opportunity.

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