DEFAULT...Student Loans

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Joined Aug 24, 2012
Kanye raised all kinds of valid critiques about pursuing higher education on "College Dropout." 

But me and so many others went to college. And now I owe over $70K. I have no regrets. But now I'm thinking strategy: What would it mean to repudiate my student loans? 

Peep this op-ed in today's NYT
Cliff notes:

--Student debt is over $1 trillion 

--Choice between pursuing what you love and repayment, and hating your more lucrative job while repaying is a fiction.

--Race and Class overtones of "character"

Has anyone repudiated and/or defaulted on their student loans? Have you entertained the idea?
 
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I'm not in default yet, but I might be on my way. 

Human services jobs don't pay the bills. I attempt to live below my means and I still struggle.  

Subscribed.  
 
780
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Joined Aug 24, 2012
same people defaulting on their student loans because they want to drop $1000+ on Yeezy Boost's

good luck to this generation
You're really intent on attributing student loan defaults to the irrational spending habits of a few? 

Not the fact that, in my case, one of my student loans accumulate $3.00 in interest everyday?  
 
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I heard this back in my undergrad but they were thinking about charging some majors a higher tuition depending on the average salary they get after they graduate. The higher the average salary, the higher that major tutiton would be. I never got how people who majored in Art History or Sociology didn't understand why it was harder for them to land jobs :lol:
 
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haven't defaulted on mine yet. have a private loan that i'm late on and i'm working on getting the payments dropped to around $50 a month.
Not really worried about getting it paid anytime soon, just want consistent payments until i start getting more money.

my other loans, I basically told the truth. I just moved to LA after grad school, and i work freelance in film. It's hard to say i'll make x amount a month because i never know the amount of days i'll work. So, they set them at a zero income right now, so i don't have payments. It's gonna rack up a lot more, but i'm betting on myself to be able to get it paid. *fingers crossed that i sell a script and pay it all in one day.*
 
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But is it true?

What factual evidence, whether in the form of surveys, interviews, questionnaires, ethnography's, that in actual fact supports the claim that people default because of individual consumer choices? 

You're substituting your own moralistic claims for actuality. You're using anecdotal observations to generalize about causality. 
 

antidope

Supporter
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Joined Jan 2, 2012
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Nows a good time to refinance your student loans. I did it in February and got a much lower interest rate and minimums got shaved in half even though I pay more than the minmums anyways.

https://www.citizensbank.com/student-loans/education-refinance-loan.aspx

Check it out.

You can also refinance your fed loans through studentloans.gov and they just average out the interest rates between all your fed loans.
Good looks!

Is this because interest rates are low across the board? Probably a small window before Janet Yellen and the Fed. raise interest rates?
 

fontaine

Banned
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Joined Jul 5, 2013
same people defaulting on their student loans because they want to drop $1000+ on Yeezy Boost's

good luck to this generation
nah





College tuition is hurting other sectors though... Its amazing how much it has outpaced every other metric significantly.

I don't think it will be the same in 20 years... Can't sustain these growing sums of debt that could put a strain on the economy
 
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Joined Apr 4, 2006
Kanye raised all kinds of valid critiques about pursuing higher education on "College Dropout."
same people defaulting on their student loans because they want to drop $1000+ on Yeezy Boost's

good luck to this generation
You're saying people are defaulting on their loans because they buy expensive shoes... what sense does this make?
 

antidope

Supporter
54,228
40,299
Joined Jan 2, 2012
 
 
Nows a good time to refinance your student loans. I did it in February and got a much lower interest rate and minimums got shaved in half even though I pay more than the minmums anyways.

https://www.citizensbank.com/student-loans/education-refinance-loan.aspx

Check it out.

You can also refinance your fed loans through studentloans.gov and they just average out the interest rates between all your fed loans.
Good looks!

Is this because interest rates are low across the board? Probably a small window before Janet Yellen and the Fed. raise interest rates?
Basically. They're much lower than when I first went into college. Truth be told I should have done this years ago. I waited too long. 
 
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I've been saying for a long time they shouldn't offer students loans anymore
 
8,838
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Joined Jul 18, 2012
everybodies job is gonna be replaced with robots, then companies will fire everyone but they will suffer because no one will buy their products, the government will bail out the system again, and we give everyone money on a yearly basis to do as they wish with, effectively known as universal basic income, iono what happens after that...
 
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You're saying people are defaulting on their loans because they buy expensive shoes... what sense does this make?
No I'm saying people just want everything for free and a hand out

Don't wanna pay their loans because they'd rather use it on other things then be responsible

I work in this field by the way, I see how people are every day
 
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everybodies job is gonna be replaced with robots, then companies will fire everyone but they will suffer because no one will buy their products, the government will bail out the system again, and we give everyone money on a yearly basis to do as they wish with, effectively known as universal basic income, iono what happens after that...
Then singularity between all forms of technology occurs and humans are replaced by robots as the primary inhabitants of this world
 
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Joined Aug 24, 2012
No I'm saying people just want everything for free and a hand out

Don't wanna pay their loans because they'd rather use it on other things then be responsible

I work in this field by the way, I see how people are every day
Ok. This makes more sense. I thought you were just preaching from some moralistic high ground about "responsible" spending habits.

Still. As someone in the field, what information do you have about the spending habits of student debtors? 
 
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