General Discussion

SickOfTheOnePct

(8,710 posts)

45. They graduated

Wed Aug 24, 2022, 03:42 PM

Aug 2022

In 2016 and 2018.

They both attended out of state public universities, and between the two, full bill (room, board, books, etc.), it was ~$240k.

We started saving for college before they were even born, and when were both enlisted military members. Obviously, we saved more as we made more, and by the time they started college in 2012 and 2014, we were at the point where we could cover from current earnings what savings didn’t cover.

But had we not saved all of those years, there is no way in hell we could have paid “out of pocket” at the time they went to college.

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Opinion: Student loan... [View all] Septua Aug 2022 OP

Terms on student loans are particularly onerous. Bankruptcy can't... brush Aug 2022 #1

If you could declare bankruptcy on a student loan, you keep all the benefits of the education MichMan Aug 2022 #21

What exactly are you saying? brush Aug 2022 #24

I'm saying that it would make financial sense for someone to declare bankruptcy MichMan Aug 2022 #28

I still don't get you. Are you for Biden's move? brush Aug 2022 #39

I'm not sure a president can spend $300 billion by EO without congressional approval either MichMan Aug 2022 #47

Hasn't he already done it. Again, are you for... brush Aug 2022 #50

Post removed Post removed Aug 2022 #56

Get serious. Where'd you pull that imaginary example from? brush Aug 2022 #63

If it was targeted to those who needed relief from deep debt that would be one thing. MichMan Aug 2022 #79

I totally agree with you. This is going to make some people very happy Jack the Greater Aug 2022 #96

You do realize that under 125k means Bettie Aug 2022 #112

EXACTLY inthewind21 Aug 2022 #33

Maybe with luxury items, but the vast majority of people who file for bankruptcy can keep their liberal_mama Aug 2022 #64

If the mortgage and car loans are discharged in bankruptcy, you can keep both and never have to pay? MichMan Aug 2022 #95

So, if you ever go bankrupt with massive heart transplant bills, can we repo your ticker? Celerity Aug 2022 #94

Rethugs whine about everything Johnny2X2X Aug 2022 #2

Lots of People 4Q2u2 Aug 2022 #3

I've argued the same thing for a while and it usually was ignored or argued against. Claustrum Aug 2022 #4

They did that as well. W_HAMILTON Aug 2022 #6

Owing 400k but making 180k...that'll take decades... brush Aug 2022 #9

That Harvard Law student isn't eligible Johnny2X2X Aug 2022 #11

Right. My argument is against those who favor 50k for everyone. Claustrum Aug 2022 #34

Agree then Johnny2X2X Aug 2022 #42

This message was self-deleted by its author MichMan Aug 2022 #12

Been working the same job your whole life, have you? Act_of_Reparation Aug 2022 #19

This message was self-deleted by its author MichMan Aug 2022 #25

great Skittles Aug 2022 #100

Yeah, cool story. Act_of_Reparation Aug 2022 #103

Not really how it works though Johnny2X2X Aug 2022 #20

$40K/year x 40 years of work, Ms. Toad Aug 2022 #57

It's about status, bragging rights JI7 Aug 2022 #59

Earning a degree in something doesn't guarantee you a job in it meadowlander Aug 2022 #80

If you are earning 180K you get zero loan relief qazplm135 Aug 2022 #29

My argument is against those with the plan of forgiving 50k for everyone, not the current Biden plan Claustrum Aug 2022 #32

well that plan isn't on the table qazplm135 Aug 2022 #37

There are people who thinks Biden's plan doesn't go far enough. Claustrum Aug 2022 #41

not today qazplm135 Aug 2022 #43

Not necessarily true SickOfTheOnePct Aug 2022 #48

College today should be like high school from yesteryear. W_HAMILTON Aug 2022 #5

I am not sure $300 billion can be added to the debt by EO. MichMan Aug 2022 #7

Your opinion is valid. So are other opinions favoring the $10k CentralMass Aug 2022 #8

We constantly attack Big Oil and Big Pharmaceutical for gouging and greed MichMan Aug 2022 #15

I have always wondered inthewind21 Aug 2022 #52

Great post n/t SickOfTheOnePct Aug 2022 #17

If we can bail out corporations eissa Aug 2022 #10

Perfectly stated. phylny Aug 2022 #27

Give the 10,000 also to the people that paid it already! USALiberal Aug 2022 #30

Exactly, and there is no convincing argument against this. None. BSdetect Aug 2022 #44

Nah you just get a t-shirt. Voltaire2 Aug 2022 #87

No one inthewind21 Aug 2022 #53

An education shouldn't be a mortgage eissa Aug 2022 #60

It's a great idea, doesn't go far enough, and will net an increase in Dem votes. Fiendish Thingy Aug 2022 #13

I agree with you 100% SickOfTheOnePct Aug 2022 #14

+1000 USALiberal Aug 2022 #31

how much did your daughters pay for college qazplm135 Aug 2022 #35

They graduated SickOfTheOnePct Aug 2022 #45

which is tons more than you or I paid for college qazplm135 Aug 2022 #58

We started college funds when our kids were conceived eissa Aug 2022 #65

I don't think the president can set interest rates. BlueCheeseAgain Aug 2022 #67

I'd offer my opinion as counterpoint EYESORE 9001 Aug 2022 #16

I'll bite. Renaissance Man Aug 2022 #18

boom qazplm135 Aug 2022 #36

You win! eissa Aug 2022 #55

Well then inthewind21 Aug 2022 #61

Whose side are you on? Renaissance Man Aug 2022 #66

people need to get off their high horse about mortgages mike_c Aug 2022 #90

I agree with most of your points. BlueCheeseAgain Aug 2022 #69

+1 leftstreet Aug 2022 #71

This. Voltaire2 Aug 2022 #88

this mike_c Aug 2022 #89

+1.n/t obnoxiousdrunk Aug 2022 #99

No response from kcr Aug 2022 #111

I think Biden needs to do it - he needs to keep his promise womanofthehills Aug 2022 #22

Nothing but a $300 Billion giveaway Zeitghost Aug 2022 #23

Sure. Maybe also give it to the poor banks and corporations again that nobody complained about. live love laugh Aug 2022 #75

The whole federally backed student loan program has devolved in KPN Aug 2022 #26

Potential 43 million voters for the Democratic Party Septua Aug 2022 #101

Disagree RANDYWILDMAN Aug 2022 #38

Googled, "how do I know if I qualify for student loan forgiveness" aocommunalpunch Aug 2022 #40

The way it's being done doesn't make much sense Shrek Aug 2022 #46

Exactly n/t SickOfTheOnePct Aug 2022 #49

Not true at all Johnny2X2X Aug 2022 #51

Exactly nt Raine Aug 2022 #92

The more I read about it, the more I like it. Fiendish Thingy Aug 2022 #54

Forgiven debt is taxable income. roamer65 Aug 2022 #62

apparently not true in this case if on income based plan MissB Aug 2022 #70

I would make sure on it. roamer65 Aug 2022 #72

of course! MissB Aug 2022 #76

Should be SickOfTheOnePct Aug 2022 #84

Congress changed the rules for any debt relief between 2021 and 2025 dsc Aug 2022 #108

+1000 roamer65 Aug 2022 #109

They're whining like crazy on IG about it. bif Aug 2022 #68

But can't get fair healthcare for all huh? Brainfodder Aug 2022 #73

I agree, choosing a comparatively fortunate part of society for a benefit to be paid by less Alhena Aug 2022 #74

Sounds Like Trickle Down Economics Renaissance Man Aug 2022 #77

My daughter had given up on going to grad school because she did not want more debt. GumboYaYa Aug 2022 #78

Monthly $400? Hah, my loan started at 2300 librechik Aug 2022 #81

I'm neutral on it. roamer65 Aug 2022 #82

I've Been Saying This the Idea Was First Floated. PBC_Democrat Aug 2022 #83

It's not a level playing field. meadowlander Aug 2022 #85

Righteous rant! radicalleft Aug 2022 #107

All education ought to be free for everyone. Voltaire2 Aug 2022 #86

I agree nt Raine Aug 2022 #91

de rec Celerity Aug 2022 #93

Says it all in a nutshell. Well done. And btw, KPN Aug 2022 #102

Fuck the republicans and what they decide to call it. Did they call the PPP loans Autumn Aug 2022 #97

At least two of those points are probably being made on Truth Social right now BannonsLiver Aug 2022 #98

Those who whine the most about student loans AntivaxHunters Aug 2022 #104

You got it wrong...you deserve the criticism. Seriously petty. Demsrule86 Aug 2022 #105

This does absolutely nothing to solve the real problem here. GuppyGal Aug 2022 #106

Wish I could downvote kcr Aug 2022 #110

For the record... Septua Aug 2022 #113