Per the article:
A. 43 million people have some amount of federal student loan debt.
B. Approximately 1/3 of that 43 million have less than $10,000 in student loan debt.
C. Approximately 1/2 of that 43 million have less than $20,000 in student loan debt.
Honestly, I am more pissed about this “debt forgiveness” than I was before, which I didn’t think was possible.
I guess I was under the impression these dipsticks owed like $50k or $75k each……we’re talking less than $10k!
14 million people can’t pay back a measly “less than $10k”? Seriously? A decent freaking used motorcycle is $10,000. 10 brand new iPhones cost more than $10k. If you can’t pay back $10k over an extended period of time, life Is gonna suck for you.
Just run the numbers on a $10k loan.
48 months at 7.0% is only about $240 a month…..maybe those terms aren’t reasonable.…..I don’t know.
Like most things in life, it’s all about priorities.
I was raised with the understanding that you never took on debt that you couldn’t repay.
When My wife and I got married (2003), I made $10.50 an hour and she made $10 per hour and I had a second, part time job (about 6 hours per week) that paid me $12.50 per hour. We paid for our own health insurance through our respective jobs (2 individual plans were cheaper than 1 ”family” plan). We owned a small $92k home and had 1 small car payment. We had no debt outside those 2 items. Neither of us graduated from college. We had enough money to tithe to our church and even put money in savings almost every week. We might have only been able to put back $5 one week or $10 the next week, but we forced ourselves to save something……anything……every week. We didn’t have kids because we knew we couldn’t afford them at that time In our lives/careers. We watched every penny. We ate a lot of ham sandwiches, ramen noodles, and bowls of cereal. We never ate out at a restaurant for the first year or so. Neither of us had any vices (i.e. Cigarettes, beer, etc.) that cost money. We never went on “vacation“ except to go visit family members, who allowed us to stay with them. I took all the overtime I could get. We sold things we didn’t need/use anymore for extra cash.
So don’t tell me it can’t be done. You have to determine what your means are and then set the parameters of your life around those means.
No one said it was easy and no one said it was fun, but if someone tells you it isn’t possible, they are a liar.
You’re too late to the game to tell me it isn’t possible.
www.foxnews.com
