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    Student loan debt

    Student Loan Slavery: Paying More in Loans Than I Make Each Month

    She owes more than $160,000 and has a Bachelors in Sociology to show for it. I'm not here to knock on people with a degree in the social sciences because I have one myself, but I also had enough common sense not to go crazy with my student loans. If you're this dumb to borrow this much and you're not going to medical school or going into a field that will make you a lot of money, then it's your own damn fault.


    Last edited by CarlHungus; 05-13-2013 at 04:38 PM.
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    Re: Student loan debt

    can't she declare bankruptcy or something?



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    Re: Student loan debt

    Quote Originally Posted by benjay View Post
    can't she declare bankruptcy or something?
    I don't think you're allowed to declare bankruptcy on student loans


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    Re: Student loan debt

    Quote Originally Posted by benjay View Post
    can't she declare bankruptcy or something?
    Can't discharge student loans via bankruptcy.

    The people who have these issues have no one to blame but themselves. Getting a degree in English might be what your passion is but if it doesn't pay the bills it doesn't matter what your passion is.



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    Re: Student loan debt

    Why did someone spend $160K on a sociology degree?


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    Re: Student loan debt

    Sad example of just taking the money and probably not understanding the loan. I had tons of friends like this in college that just loved it when they get the check but didn't really understand how much they were putting themselves into debt for down the road.



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    Re: Student loan debt

    She may just want to disappear to rural Somalia for the next 50 years and let them assume she is dead.


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    Re: Student loan debt

    Seriously, $160K in debt to a state school for a 4 year degree? $40K a year??? How do you even do that? Did she take a loan out for all her living expenses plus her friends?


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    Re: Student loan debt

    Quote Originally Posted by ISUKyro View Post
    Sad example of just taking the money and probably not understanding the loan. I had tons of friends like this in college that just loved it when they get the check but didn't really understand how much they were putting themselves into debt for down the road.
    Yeah. I understand that some people don't get financial help from their parents so they have to borrow more than others, but there is no reason to get this far into debt


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    Re: Student loan debt

    Quote Originally Posted by brianhos View Post
    Seriously, $160K in debt to a state school for a 4 year degree? $40K a year??? How do you even do that? Did she take a loan out for all her living expenses plus her friends?
    Yeah I don't even know the math to make that happen.



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    Re: Student loan debt

    Quote Originally Posted by ISUKyro View Post
    Sad example of just taking the money and probably not understanding the loan. I had tons of friends like this in college that just loved it when they get the check but didn't really understand how much they were putting themselves into debt for down the road.
    This. I was ADVISED by my student loan advisor to borrow as much as possible because it was the "cheapest money I'll ever receive." It wasn't until I changed my major before my senior year to finance that I started to do the math and freak the **** out. I felt like such an idiot for not doing the math myself....


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    Re: Student loan debt

    Quote Originally Posted by 3TrueFans View Post
    Yeah I don't even know the math to make that happen.
    Her Navigator is a pretty sweet lawn ornament now since she can't afford the gas or insurance.



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    Re: Student loan debt

    lol! im 20 grand in the hole ill be 28 thousand when all said and done.




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    Re: Student loan debt

    Quote Originally Posted by RedBlooded View Post
    lol! im 20 grand in the hole ill be 28 thousand when all said and done.

    That is a car loan, completely manageable if you have a degree in something marketable and not sociology or psychology.


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    Re: Student loan debt

    Quote Originally Posted by CarlHungus View Post
    I don't think you're allowed to declare bankruptcy on student loans
    What's the reasoning behind this? It seems odd that you can declare bankruptcy if you spend too much on houses, vehicles, and credit cards, but not on your education.


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