My Husband And I Thought Education Was A Way Out Of Poverty. Now We’re $718,000 In Debt.

[MoneyTron]

LMAO at paying 100K for a master's degree.

I'd do it for a top 10 business school. It's hard to come out of Harvard, Wharton, Columbia, etc. with out a nice paying gig that should allow you to pay for that loan in a reasonable amount of time. Otherwise, nah.

 

[P90]

For the people that say "go to the military": nah. You can't get a secret clearance after you're in a certain amount of debt. He'd be a fry cook and slaving for pennies in the Navy.

What’s the cutoff?

 

[Marc Spector]

They shoulda told that man to commission as a dental officer from jump

 

[Marc Spector]

For the people that say "go to the military": nah. You can't get a secret clearance after you're in a certain amount of debt. He'd be a fry cook and slaving for pennies in the Navy.

Medical officers can get that waived

 

[seabreeze80]

Live comfortably with close to a million dollars in non-dischargable debt?

Saw what now?

There are loan forgiveness programs. Score a qualifying government job and the debt will be forgiven after a certain amount of payments are made. There are ways out of this.

 

[BlaqkSpliffin]

Student loans never fall off your credit score. Basically its 3 ways to get rid of them. Pay them off, have them forgiven or die....period thats it.

That's what I meant. After a certain amount of year they're forgiven and they don't count against you anymore. I don't remember how long that is tho.

 

[iceberg_is_on_fire]

Meh, most government jobs aren't enthralling. Would hate to commit to something I hate for the rest of my life.

Not only that, these governments be fukking up the funds. My dad retired from the Detroit Water Department 6 years ago. This shyt happened.

For Detroit retirees, pension cuts become reality

Detroit — Pension and benefit reductions reached through the city's historic bankruptcy will begin showing up in the monthly checks of Detroit retirees beginning Sunday.

The cuts affect an estimated 20,000 retirees in the city's two pension funds. They are outlined in a court-approved plan that allows the city to shed $7 billion in debt and invest $1.7 billion into restructuring and service improvements over the next decade.

"There have been a lot of accolades about the speedy exit from bankruptcy and applause for those involved in the settlements," Bruce Babiarz, a spokesman for the city's Police and Fire Retirement System, said in a statement Friday.

"While the celebrations of the bankruptcy exit may be winding down, the reality of reduced pension checks will take effect in March."

In all, 32,000 active and retired city workers are affected by the pension cuts and reductions in health care. Babiarz said it may be a "harsh reality for many living on fixed incomes."

Retired Detroit Health Department worker Walter Knall is expecting a reduction of about 30 percent, factoring in health care cuts and the recoupment of past interest earnings. He is among a group of retirees involved in a federal court appeal challenging the cuts.

My dad had over 900 a month knocked off his pension. Decided to get social security at 62 instead of 65 because of this. His girlfriend is on a pension too so ultimately, he's straight but for a lot of others, not really. You are beholden to people not fukking up the money there.

 

[wastedmermaid]

People always turn these stories into a chance to bash higher education. The issues is not higher education, it’s the student.

My strategy was that I graduated HS and later went to Community college for two years. Of course I had people saying it’s not real college and I won’t get the “college experience” (hope your experience was worth the extra 20k )Since I had a certain gpa I was able to go for free even though I had been out of HS for a few years.

While I was in CC I worked part time and managed to save up 80% of the cost to cover me completing my undergraduate at a state school.

With the internet and all the information we have available today, this stuff shouldn’t even be happening.
If you can spend 5hrs a day on Instagram, you can spend half that doing research into scholarships, loans, tution etc.

 

[EndDomination]

This is why minorities need to get off that “trying to be white” mentality cause mommy and daddy will foot the bill and let them stay home stack bread plus some families have friends in high places that’ll put them on fresh out. My friends trying to get into teaching complain all the time about white girls fresh out getting positions cause they have family workin there already

Its not a "trying to be White" mentality.

They didn't major in what they needed to major in, and didn't take the right precautions.

And part of that comes with not knowing, because they were both first-generation students. They didn't have the guidance through the scholarship/grant process, or through career services, or through internships, or through networking, that they would have had were they second-or-third generation.

 

[EndDomination]

Just goes to show that just because you’re educated , doesn’t mean you’re smart.

They're predatory institutions that target student of color, specifically Black and Latino students, as well as vets.

If they weren't effective at what they do, President Obama wouldn't have been working so hard to have them shut down.

 

[EndDomination]

#Stem/certgang don't have these problems....

Major in English and end up in debt collection brehettes....

Go to a fugazi Degree mill like Lincoln U and become an indentured servant...

You have to be doing an internship/part time work relative to your field while in college, not after.....

Rookies smh....

Lincoln University isn't a degree mill, its an public HBCU that has dealt with the institutional racism and government defunding that is incredibly common for public HBCUs.

The school isn't expensive, and internships don't mean anything for dental school.

 

[EndDomination]

I don’t think they are financially smart enough to climb out of anything based on this article. The most important thing here is that he has to finish, which is no guarantee.

Nah, they'll be straight if they both hold it down for the next decade or so, and avoid vanity purchases.

If she can get a city job with a high five-figures salary, and he puts in work as a dentist, maybe even getting a fellowship of some kind paid for (I doubt he could be an oral-maxiofacial surgeon considering he struggled to get into dental school, but Case Western will hold him down), they'll be able to pay down the debt, and get into a IBR/PSLF (Income-Based Repayment, Public Service Loan Forgiveness) program, they can cut down on the vast majority of that debt.

Shaker Heights and Cleveland Heights will have "career appropriate homes" for them, and they'll just have to tighten the belt.

 

[EndDomination]

I'd do it for a top 10 business school. It's hard to come out of Harvard, Wharton, Columbia, etc. with out a nice paying gig that should allow you to pay for that loan in a reasonable amount of time. Otherwise, nah.

She didn't know and didn't do the research.

If he'd have spent a few hours on Student Doctor Network and she'd have spent a few minutes on WallStreetOasis, they both would be in a much better place.

The information is out there, but its not much use if you don't look for it.
I've had to introduce so many people to resources that they could have found from just using Google.

 

[Suzie]

fukk that college shyt breh. I went when I was 20 and dropped out owing 8k, went into default for not making payments. I paid it off last year and am making 26/hr and moving up. A lot of my old friends who went to college struggle to find work, I feel for them but that college life is a scam with the debt that's involved

The way college is presented is a scam. It’s very capitalistic

It doesn’t cost that much for an education even in America.

Breh needs to quit dentist school while he’s ahead, hop in the military as an officer or something and get them to pay a lot of that off for him.

Finish dental school and go into the military as a doctor.

I have zero sympathy for them. My wife and I have about $100k in school debt combined. I went to law school and ended up not practicing or taking the bar and still parlayed that into making $110k a year. Wife got a masters in social work and makes 80k. Them getting education or the cost of education isn’t the issue. Also, we waited until we were financially set before having kids. This shyt isn’t rocket science.

It’s not but people don’t believe in making better decisions

After reading this article and seeing their life choices (and how he couldn’t get into dentist school til he got the hookup), you would choose Breh as your dentist ?

Lol that’s what I was thinking

 

[Suzie]

Hopefully we will be the last generation to fall prey to the student loan scam this country has been running the last 30 years. The black community in America would be in much better shape right now if we focused more on trades.

It seems Gen Z has woke up