byjove
Ruby
Posts: 15,360 Likes: 75,063
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Post by byjove on Aug 24, 2022 11:28:02 GMT -6
Apparently hair can also be regulated, but there has been so specific guidance in this. We live in a super blue area with a very diverse community. Like what is happening.
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Post by Kenny1980 on Aug 24, 2022 11:29:02 GMT -6
I am slightly annoyed with the comments I am reading about how if you took out a student loan you should have to repay it, etc. When I was 18 every adult was telling me go to college, get a degree in anything, doesn't matter what. You just need a college degree. At 18 you are not thinking about paying back student loans and what that looks like. I have been paying as much as I am able on my loans, but there have been a few times I have had to put them in forbearance due to medical expenses I was not planning on. It will be a huge relief that last $10,000 is forgiven.
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athn64
Ruby
Posts: 17,414 Likes: 76,728
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Post by athn64 on Aug 24, 2022 11:30:41 GMT -6
Apparently hair can also be regulated, but there has been so specific guidance in this. We live in a super blue area with a very diverse community. Like what is happening. So adding racism in with the sexism in the policy.
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Post by angelashly on Aug 24, 2022 11:32:11 GMT -6
I am slightly annoyed with the comments I am reading about how if you took out a student loan you should have to repay it, etc. When I was 18 every adult was telling me go to college, get a degree in anything, doesn't matter what. You just need a college degree. At 18 you are not thinking about paying back student loans and what that looks like. I have been paying as much as I am able on my loans, but there have been a few times I have had to put them in forbearance due to medical expenses I was not planning on. It will be a huge relief that last $10,000 is forgiven. this is what my h and I were talking about last night. No one taught us about student loans just that it was necessary to get to go to college and get good jobs. It isn't like it is now where parents are saving for college for their kids because now we know what it takes and how hard student loan debt is.
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fatpony
Amethyst
Posts: 5,582 Likes: 30,819
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Post by fatpony on Aug 24, 2022 11:43:40 GMT -6
When I graduated high school in 1999 it was hammered into us that we HAD TO GO TO COLLEGE. That student loan debt was GOOD DEBT. That college degrees would get us good jobs that would easily pay it off so don't worry our little heads about it.
I'm so annoyed by all the bootstrap comments and boomers talking about how they had to pay for their own college and kids these days shouldn't get handouts.
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Post by angelashly on Aug 24, 2022 11:45:41 GMT -6
When I graduated high school in 1999 it was hammered into us that we HAD TO GO TO COLLEGE. That student loan debt was GOOD DEBT. That college degrees would get us good jobs that would easily pay it off so don't worry our little heads about it. I'm so annoyed by all the bootstrap comments and boomers talking about how they had to pay for their own college and kids these days shouldn't get handouts. yep
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sifl
Platinum
Posts: 1,410 Likes: 5,598
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Post by sifl on Aug 24, 2022 11:48:06 GMT -6
Man idk what it is but DH is against student loan forgiveness and it’s driving me nuts. This is so unlike him in regardless to every other financial thought, so I’m befuddled and he just is adamant about how it’s bullshit to forgive $10k when “people like us worked our asses off the pay off the loans”. I just am like what? And he’s like people signed off knowing they’d have to pay when they finished so blah blah blah. I just said my piece and walked away bc I don’t think we will ever agree. He does think they should cancel the interest rates bc remove the interest balance. So he’s not totally a dick about it all. I had a similar convo with my mom. She thinks if you committed to paying the loan back you should have to pay it back. But it’s been a long time since we took out my student loans, and I explained how the cost is so much higher now and interest is insane, and people are making their payments and not able to pay it down. Idk, I think it’s hard to see outside your own experience sometimes.
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athn64
Ruby
Posts: 17,414 Likes: 76,728
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Post by athn64 on Aug 24, 2022 11:51:03 GMT -6
When I graduated high school in 1999 it was hammered into us that we HAD TO GO TO COLLEGE. That student loan debt was GOOD DEBT. That college degrees would get us good jobs that would easily pay it off so don't worry our little heads about it. I'm so annoyed by all the bootstrap comments and boomers talking about how they had to pay for their own college and kids these days shouldn't get handouts. The "good debt" was such a big thing. Like, even with all my grants and such, it was implied that I should take out some loans because it would help with my credit score. I still needed my loans to get by, but we were definitely sold a bill of goods that was not delivered.
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Post by angelashly on Aug 24, 2022 11:53:45 GMT -6
Man idk what it is but DH is against student loan forgiveness and it’s driving me nuts. This is so unlike him in regardless to every other financial thought, so I’m befuddled and he just is adamant about how it’s bullshit to forgive $10k when “people like us worked our asses off the pay off the loans”. I just am like what? And he’s like people signed off knowing they’d have to pay when they finished so blah blah blah. I just said my piece and walked away bc I don’t think we will ever agree. He does think they should cancel the interest rates bc remove the interest balance. So he’s not totally a dick about it all. I had a similar convo with my mom. She thinks if you committed to paying the loan back you should have to pay it back. But it’s been a long time since we took out my student loans, and I explained how the cost is so much higher now and interest is insane, and people are making their payments and not able to pay it down. Idk, I think it’s hard to see outside your own experience sometimes. Yes the cost of college alone is so much higher now then when we went and for sure when our parents went
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mc13
Sapphire
Posts: 3,414 Likes: 12,121
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Post by mc13 on Aug 24, 2022 12:08:43 GMT -6
When I graduated high school in 1999 it was hammered into us that we HAD TO GO TO COLLEGE. That student loan debt was GOOD DEBT. That college degrees would get us good jobs that would easily pay it off so don't worry our little heads about it. I'm so annoyed by all the bootstrap comments and boomers talking about how they had to pay for their own college and kids these days shouldn't get handouts. So much yes to that last part. I keep hearing this from my FIL…who just finished paying off his 41 year old daughter’s student loans (who by the way, never actually graduated). Like how hard is it for you to see that 1. not everyone has parents in the position to do this and 2. You are literally giving a “handout” to your adult child.
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richard
Emerald
Posts: 13,699 Likes: 128,724
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Post by richard on Aug 24, 2022 12:09:07 GMT -6
I knew so many people who went on to grad school because Great Recession and the job market was grim. So it was like "I guess I'll do this instead for a couple of years." And it wasn't professional degrees, but MAs which make little to no financial sense since they also generally don't have TA stipends or tuition remission attached like a PhD would. There was definitely a mindset that "more education can't be a bad thing" so if you're striking out on the job front, go to grad school. It now feels stunningly naive.
I worked front-desk, part-time of a museum with a master's for $12/hour and 2 or 3 of my colleagues were in the same boat. I was very lucky to have come out without debt because of a rare TA opportunity.
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Ls2012
Amethyst
Posts: 7,364 Likes: 32,621
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Post by Ls2012 on Aug 24, 2022 12:14:24 GMT -6
Damn, all. I'm trying not to feel really sad but I am. When the pandemic pause hit, I kept making payments because I was able. Then inflation got worse and I looked into it with my loan servicer and found out my loans don't qualify, so I've kept paying. And now it just feels like I and others like me don't matter. Exactly as trueblue said- I tried to do the right thing by consolidating to keep the interest "low", so I could make my payments and still have necessities. It seemed the responsible, pragmatic thing to do and now I'm screwed out of help I would otherwise have. It's not that "$10/20k is a drop in the bucket". It's "I don't even get a bucket". $20k would settle half my student loan debt. Half. This sucks. I'm trying not to cry, but this really really sucks.
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Post by orangebird2020 on Aug 24, 2022 12:16:27 GMT -6
The dress code bothers me because it feels like it gives the adults in the schools permission to bully and shame certain kids.
I am projecting because a few years ago in my workplace, they added a dress code due to new upper management and it was gross to see who was emboldened to call out how people dressed.
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richard
Emerald
Posts: 13,699 Likes: 128,724
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Post by richard on Aug 24, 2022 12:20:05 GMT -6
Does anyone know if Parent Plus federal loans will qualify for forgiveness? I just saw this and it sounds like yes? (This is one of Ilhan's comms people so I was a bit surprised by the take.)
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Post by PandaWatch on Aug 24, 2022 12:20:16 GMT -6
I need someone to explain that one to me like I'm five as my brain has failed to fully grasp it. Under this new IDR plan they are proposing, your loans would not negatively amortize. Negative amortization happens when your monthly payment doesn’t cover the interest on the loan. That interest then gets added to the principal and interest continues to accrue on that (now larger) amount. This leads to many people’s loan balances snowballing over time. It’s also why most of what will be forgiven under IDR plans is interest. This doesn’t happen under the standard 10 year plan because the payment covers the interest you owe. To be very clear: this is only for the new IDR plan, not all IDR plans. And it won’t be available until next year.
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richard
Emerald
Posts: 13,699 Likes: 128,724
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Post by richard on Aug 24, 2022 12:23:14 GMT -6
I need someone to explain that one to me like I'm five as my brain has failed to fully grasp it. Under this new IDR plan they are proposing, your loans would not negatively amortize. Negative amortization happens when your monthly payment doesn’t cover the interest on the loan. That interest then gets added to the principal and interest continues to accrue on that (now larger) amount. This leads to many people’s loan balances snowballing over time. It’s also why most of what will be forgiven under IDR plans is interest. This doesn’t happen under the standard 10 year plan because the payment covers the interest you owe. To be very clear: this is only for the new IDR plan, not all IDR plans. And it won’t be available until next year. 'Negatively amortize' is not five-year-old language but I think I got it from the rest of what you said, lol. Thanks!
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Post by PandaWatch on Aug 24, 2022 12:24:50 GMT -6
Under this new IDR plan they are proposing, your loans would not negatively amortize. Negative amortization happens when your monthly payment doesn’t cover the interest on the loan. That interest then gets added to the principal and interest continues to accrue on that (now larger) amount. This leads to many people’s loan balances snowballing over time. It’s also why most of what will be forgiven under IDR plans is interest. This doesn’t happen under the standard 10 year plan because the payment covers the interest you owe. To be very clear: this is only for the new IDR plan, not all IDR plans. And it won’t be available until next year. 'Negatively amortize' is not five-year-old language but I think I got it from the rest of what you said, lol. Thanks! Lol. Sorry! But it’s a great feature of the new plan.
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Sundae
Builder
Graphics Guru
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Post by Sundae on Aug 24, 2022 12:33:40 GMT -6
They need to go in and cancel all the interest they have added on to these things so far. Let's also call this the "Roll Back Plan". The Walmart plan. Come the fuck on.
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Post by orangebird2020 on Aug 24, 2022 12:41:05 GMT -6
The $10k helps me and I am thankful. I was about a year from paying them off. I luckily went to a lower cost school but I had no idea what I was getting into with student loans. It was the only option and was way too easy to get and receive more at such a young age.
ETA I have been out of high school for 20 years and college for 11 (took the extended college path...) .
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fatpony
Amethyst
Posts: 5,582 Likes: 30,819
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Post by fatpony on Aug 24, 2022 12:42:12 GMT -6
I'm wondering if next year we should file married separately, since I don't have loans anymore but my husband has 40k+ and he makes less than I do. Is this something an accountant can tell me? Would it make is IDR lower?
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jaygee
Diamond
Posts: 28,303 Likes: 219,989
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Post by jaygee on Aug 24, 2022 12:55:07 GMT -6
I'm wondering if next year we should file married separately, since I don't have loans anymore but my husband has 40k+ and he makes less than I do. Is this something an accountant can tell me? Would it make is IDR lower? I can’t answer this question but an accountant will be able to for sure. This is the type of stuff I throw at mine all the time. She calculates things both ways and tells us.
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jaygee
Diamond
Posts: 28,303 Likes: 219,989
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Post by jaygee on Aug 24, 2022 12:58:01 GMT -6
Remember in the late 90s/early 2000s it was basically standard to see a credit card company or two on campus every day with free gifts enticing students to sign up. We had frat bros that basically had a side hustle to sign up their friends for credit cards and they would get a commission. They said just shred the card when it comes and don’t use it. Not understanding that it sat on our credit report. Oy. Those were wild times and I hope some of that had changed. People really don’t understand the bad financial advice students have been given by adults and companies for a really long time.
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jaygee
Diamond
Posts: 28,303 Likes: 219,989
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Post by jaygee on Aug 24, 2022 13:01:36 GMT -6
I’m sorry people are so disappointed with the plan and I TOTALLY get it. I was expecting nothing or the 10k only thing so I’m pleasantly surprised with some additional perks. I think the reality is we did not elect a candidate that campaign on this issue or really had much of a plan for it so I see that some of MVP’s people policies have been included (especially the earlier announcements of full cancellation for the fraud schools) and it is clear that activism pushed the plans more aggressively. I know it’s far from ideal but I’m feeling some optimism in the fact that it’s a start and there are leaders who will take it further when the time is right.
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LaRo422
Platinum
Posts: 1,698 Likes: 10,592
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Post by LaRo422 on Aug 24, 2022 13:05:14 GMT -6
Just got an alert that there is a confirmed case of monkeypox at an elementary school in Newton county, GA. Another student is also being tested. They're "thoroughly cleaning and disinfecting classroom at both schools" and the article lists two separate elementary schools. This is just awesome.
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Post by blurnette989 on Aug 24, 2022 13:05:50 GMT -6
Remember in the late 90s/early 2000s it was basically standard to see a credit card company or two on campus every day with free gifts enticing students to sign up. We had frat bros that basically had a side hustle to sign up their friends for credit cards and they would get a commission. They said just shred the card when it comes and don’t use it. Not understanding that it sat on our credit report. Oy. Those were wild times and I hope some of that had changed. People really don’t understand the bad financial advice students have been given by adults and companies for a really long time. i remember you could get a free subway sub if you signed up at my university subway.
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cnf
Ruby
Posts: 20,943 Likes: 101,107
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Post by cnf on Aug 24, 2022 13:07:37 GMT -6
Man idk what it is but DH is against student loan forgiveness and it’s driving me nuts. This is so unlike him in regardless to every other financial thought, so I’m befuddled and he just is adamant about how it’s bullshit to forgive $10k when “people like us worked our asses off the pay off the loans”. I just am like what? And he’s like people signed off knowing they’d have to pay when they finished so blah blah blah. I just said my piece and walked away bc I don’t think we will ever agree. He does think they should cancel the interest rates bc remove the interest balance. So he’s not totally a dick about it all. I see we have the same H on this one. We paid all our loans off, it's moot for us. He's cranky because that means we lost out on essentially 20k that we footed. He does agree that student loans should be interest free and that this is a bandaid on a systemic issue and is not opposed to drastic changes in solving the issue at large. But he's definitely salty about having paid off our loans without any forgiveness and watching other people get it. It's a part of his intense fox news conservative upbringing he is still shaking. And he works in higher ed! I'm all for it. The faster people are out from under college loan debt the quicker that money getS infused into the economy which benefits EVERYONE.
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richard
Emerald
Posts: 13,699 Likes: 128,724
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Post by richard on Aug 24, 2022 13:08:15 GMT -6
Remember in the late 90s/early 2000s it was basically standard to see a credit card company or two on campus every day with free gifts enticing students to sign up. We had frat bros that basically had a side hustle to sign up their friends for credit cards and they would get a commission. They said just shred the card when it comes and don’t use it. Not understanding that it sat on our credit report. Oy. Those were wild times and I hope some of that had changed. People really don’t understand the bad financial advice students have been given by adults and companies for a really long time. Yes. There was a time in my life when my credit card debt was 100% bar tabs and late-night food. I was pretty careful about using it until I got tanked and then it was like "free money!"
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Peekaru
Sapphire
Posts: 2,518 Likes: 10,480
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Post by Peekaru on Aug 24, 2022 13:09:31 GMT -6
I'm wondering if next year we should file married separately, since I don't have loans anymore but my husband has 40k+ and he makes less than I do. Is this something an accountant can tell me? Would it make is IDR lower? Yes, this is something an accountant can confirm for you. There are some weird rules, so absolutely ask.
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cnf
Ruby
Posts: 20,943 Likes: 101,107
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Post by cnf on Aug 24, 2022 13:10:35 GMT -6
I am slightly annoyed with the comments I am reading about how if you took out a student loan you should have to repay it, etc. When I was 18 every adult was telling me go to college, get a degree in anything, doesn't matter what. You just need a college degree. At 18 you are not thinking about paying back student loans and what that looks like. I have been paying as much as I am able on my loans, but there have been a few times I have had to put them in forbearance due to medical expenses I was not planning on. It will be a huge relief that last $10,000 is forgiven. Adults at that time also didn't need loans for their higher ed. They have no conceivable idea of the absolute crushing weight of this debt. Debt a lot of them encouraged people of our generation to take on. Now they're bitching about us struggling with it. YOU CANT HAVE IT BOTH WAYS, OLDIES.
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Post by bunnyfungo on Aug 24, 2022 13:11:24 GMT -6
Does anyone know if Parent Plus federal loans will qualify for forgiveness? I just saw this and it sounds like yes? (This is one of Ilhan's comms people so I was a bit surprised by the take.) Does any one know if the “forgive after 10 years instead of 20” counts for payments already made? Or is 10 years from when you switch to this new IDR plan? Because I’m pretty sure I’ve already made 10 years of payments. I was also a pell grant recipient so I think the $20k forgiveness might get me close to the under $12k remaining threshold. But again, I don’t know if that forgiveness counts towards that.
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