zibazinski
Community Leader
Joined: Dec 24, 2010 16:12:50 GMT -5
Posts: 47,869
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Post by zibazinski on Feb 9, 2012 15:03:35 GMT -5
I have no idea where you rent but no landlord I know will rent to anyone who has been evicted or has a judgment against them by a landlord. Sooner or later you burn your bridges.
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EVT1
Junior Associate
Joined: Dec 30, 2010 16:22:42 GMT -5
Posts: 8,596
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Post by EVT1 on Feb 9, 2012 17:20:03 GMT -5
The government is playing the same game with schools as it did with the housing market. I know quite a few people that are going to community colleges that have no intention of ever paying back their student loans. But who do you tell or rather what do you say-I have no concrete proof-I just know their life style. Rent an apartment-don't pay rent-get evicted-move on do the same thing again. Same with utilities. Get a tax refund (for way more than you paid in)-time for everyone to get the new i-phone! More like the banks were playing the same game with students as it was with home buyers. No risk to them so why not loan 100K on a possibly worthless degree? Also- second the other poster- I don't know anyone renting apartments that have been evicted- or getting utilities after bailing. Sounds like another welfare queen story to me.
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zibazinski
Community Leader
Joined: Dec 24, 2010 16:12:50 GMT -5
Posts: 47,869
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Post by zibazinski on Feb 12, 2012 8:21:36 GMT -5
We all run credit checks and even if you get section 8 housing, a landlord that accepts it is not forced to take you. Most of us are also smart enough to know that you get your friends to pretend they are your former landlord so we match the address with the owners name, very easy to do. You won't be renting from anyone sooner or later.
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Deleted
Joined: May 19, 2024 3:58:52 GMT -5
Posts: 0
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Post by Deleted on Feb 12, 2012 9:59:47 GMT -5
Just a couple of clarification issues about federal student loans. Private student loans operate a little differently, because they are issued by private lending institutions.
Generally speaking, unless the loan is to the parent, a parent does not need to cosign a student loan. I started college at 17, so it is possible that my parents had to somehow authorize my loans that first semester, but I am the only party named to that debt. And while I had an employment history, I certainly didn't have a credit history.
The feds do not let you borrow anything you want for as long as you want. I think the most you can borrow for an undergraduate degree is $57500. The problem is that $57500 isn't actually enough money to cover tuition, books, room and board for most degree programs. So people wind up with private loans.
I think the government is right to grant extended repayment terms, right to offer loan forgiveness to people who work in public service or other underrepresented fields that benefit the common good. I'm pretty sure I was able to get a 30 year repayment term when I graduated, but now the most they offer is 25.
I think they should lower interest rates and extend the student loan interest tax deduction credit. An educated workforce benefits the country in the end, so I don't think the feds should be making money through student loans. They should charge whatever minimum interest is needed to cover the costs of program administration but that's it.
But I think it is stupid that I can't refi my student loans the way I can refi my mortgage.
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AgeOfEnlightenmentSCP
Distinguished Associate
Joined: Dec 21, 2010 11:59:07 GMT -5
Posts: 31,709
Favorite Drink: Sweetwater 420
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Post by AgeOfEnlightenmentSCP on Feb 12, 2012 10:49:30 GMT -5
U of R is actually a very good school............... It's an investment. IF you think you're going to get a good return over your working life on an initial investment of $100K, I'd say it's worth it. In fact, I'd say ROI-wise, college is cheap. Especially now that we seem hell bent on forgiving student loan debts (oh, yes- it'll happen)
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formerexpat
Senior Member
Joined: Dec 18, 2010 12:09:05 GMT -5
Posts: 4,079
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Post by formerexpat on Feb 12, 2012 11:35:02 GMT -5
I've said it before and I'll say it again; the government is full of shit when they say they care about education but then charge 5.8% on student loans when it's a no risk loan [since it can't be discharged] and 1 Yr LIBOR is 1%. Between the costs associated with the program and the interest rate risk hedge the bank/government would have to enter into, you shouldn't see rates above 2.5-3% right now.
And agree 100% with you about refinancing student loans.
As a person that came out with $100k - I feel the pain of people in that situation...but paid back every penny of it .
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