seabreeze80
All Star
There are loan forgiveness programs
My Husband And I Thought Education Was A Way Out Of Poverty. Now We’re $718,000 In Debt.
- Thread starter Anerdyblackguy
- Start date
-
- Tags
- got damn
There are loan forgiveness programs
Freedom has a price... you can save for retirement without having that tied up for the next 20-30 years. 401k benefits do not outweigh its opportunity cost.
D@nté
Banned
I just put their student loan amounts in one of those online calculators.
https://studentloanhero.com/calculators/student-loan-payment-calculator/
$4,197
Monthly Payment
$810,867
Total Interest
This means your total repayment
amount would be $1,510,867
Another positive for the 401k is tax free growth and deferred taxation. You put in pretax dollars and take out when you're making less money.
Let's say you make 100k, normally you'd pay in the 24% federal tax bracket. Once retired you'd pay taxes based on your ssa check, which I can guarantee is lesser than the 24% tax bracket. So if you save up for retirement with after tax money you're already down the 24% you paid in taxes.
It's a book called A Simple Path to Wealth that explains it better than I can and it's a good read.
Only for government employees....
seabreeze80
All Star
Its an option. She has a degree in English. She can easily become an English teacher for a few years and get that debt cancelled. Her husband can easily get a government job for a few years and do the same.
https://studentloanhero.com/featured/the-complete-list-of-student-loan-forgiveness-programs/
10 years....and they have to qualify for the program....normally they can't have defaults or deferrals....also the accounts have to be in good standing.....
seabreeze80
All Star
It doesn't take 10 years unless you are only making like 1 payment a month. I know people who worked less than 5 years and that debt is cancelled. There are loan assistance programs that will also help you make payments. There are other options as well. It can be done. Just depends on how bad they want it.
GoAggieGo.
getting blitzed.
Tried to take the easy way out by going to a for profit, or atleast he thought he was 
College was never for him, and dental school isn’t for him. Instead of getting in where he fits in, he’s out here flauging. Not everyone of us is meant to have that 150k plus salary and the big house on the hill. Now, not only is his life pretty much ruined, he’s going to bring that girl down with him
Set lil mama free, as her situation isn’t as dire.
College was never for him, and dental school isn’t for him. Instead of getting in where he fits in, he’s out here flauging. Not everyone of us is meant to have that 150k plus salary and the big house on the hill. Now, not only is his life pretty much ruined, he’s going to bring that girl down with him
Set lil mama free, as her situation isn’t as dire.
Last edited:
He got a bachelors degree in Biology. And she probably did a basic science major too since they are required for pre med.
People need common sense. Nobody is hiring people with bachelors of science degree's. They hire Doctors and Professors.
Unless his goal was to be a 3rd grade Science teacher he should've taken any other degree. and she should've done the same.
What is a STEM Degree?
Get a stem major, but stay away from the life sciences. I'm convinced people do it because they think it's more interesting/fun, but it's also the least profitable.
People need common sense. Nobody is hiring people with bachelors of science degree's. They hire Doctors and Professors.
Unless his goal was to be a 3rd grade Science teacher he should've taken any other degree. and she should've done the same.
What is a STEM Degree?
- Life Sciences.
- Accounting.
- Civil engineering.
- Psychology.
- Statistics.
- Electrical Engineering.
- Computer Programming.
Get a stem major, but stay away from the life sciences. I'm convinced people do it because they think it's more interesting/fun, but it's also the least profitable.
So this money you use to put in your brokerage account that you buy stocks with to get the capital gains, where did it come from? You had to pay income tax on it to put it on the brokerage account. The capital gains is after its invested but you have to pay payroll taxes on it to get the opportunity to invest it. Not so with a 401k.
Warren Buffett paid payroll tax on his money years ago to get where he is today. At the end of the day 401k allows you to avoid paying taxes while you're making the money your investing through tax deferment. No other saving method can say that besides 401k replacements like 403b and TSP.
Moving the goal posts bruh... The money comes from other investments bruh. I'm not saying DON'T have a 401k. My point is that the 401k has opportunity costs associated. I like the liquidity of days like to day where the stock market took a 700 point loss in a single day. I like to be able to buy bitcoin at 4500 a year ago. I like to be able to pull every dollar out and start a business.
loyola llothta
☭☭☭
i pray for them