The Sphere
General Garbage => Tropical Paradise of Hard Shelled Fruits => Topic started by: Faye Valentine on Feb 16, 2009, 08:20:15 PM
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If any of you haven't taken out a student loan, DON'T FUCKING DO IT.
I'm so tired of paying for this flipping piece of crap. In these last 2 years I paid 36 thousand dollars of the student loan, and instead of it going down, it went up 10k! fuck this shit!
So, instead of bawwwwing like a little bitch, Ive decided to stop paying it next month. THey can garnish my wages if they want. Right now, more than 60% of my wages go to pay the loan, but if they garnish them, only 15% will be taken away. Yeah it would fuck up my credit, but I'm not planning to buy a house ,nor a car anytime soon, at least not in this country. And if I leave, then they can kiss my goddamn ass goodbye. Rest assured, if I get loads of money later on I will definitely pay it back, but right now these motherfuckers are going to make me pay (at the end in 30 years) 3 times more of what I owe right now, so fuck em! no one told me i was going to pay this awful amount, they practically lied to me! :nono:
:rawr:
arise! lets march!
ps: fuck you citibank.
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"Loan" should have been your first warning sign.
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I'm still deferring mine. I think if you take like one class a semester you don't have to pay it back. I'll just keep doing that till they realize I've been alive for over 200 years and then steal the identity of a still born orphan.
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but don't you gain interest with deferrements?
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I'm still in school right now so I'm just tuning out what I'll have to pay.
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:-/
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but don't you gain interest with deferrements?
You're gaining interest without deferring too.
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Rveryone gains interest right now. Hopefully, the country's credit system finally collapses and everyone gets a free pass.
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Here's hopin'! Two of my creditors raised my rates. And I always pay above the minimum AND on time. My credit score is "Excellent". Therefore, I conclude they are boners.
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My Interest is set to 9 or 8.45% or some shit like that. Doesn't stop them for chargin me more than 1k a month on interest. I think my next choice of residence will be Fiji. Or anywhere where they won't do a credit chell ( just in case my credit goes to hell after stop paying the loans). Wait what am I talking about? The only thing that ties my name to the loans is my SSN! No ssn, no loans! Freedom my comrades, I've been enlightened!!
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I've had no major accidents nor any tickets to influence my insurance, not to mention being with the same company for almost ten years, and they raised my car insurance 150 bucks. When I shopped around, they all are the same. So I went from paying 589 in 2008 every 6 months now to 720 something. Fucking A. Absolute bullshit.
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The creditors have to pay for this economic mess they got us into somehow, and if that means raising your rates, well gee golly they'll do that.
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Guess what? Student loans are a bitch, no matter the economy. Rates almost always go up. But that's just one more part of the price you pay for the schooling.
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Michael Moore said it best, loans are designed to enslave the middle class so we can't hold out for higher wages, because if we do we loose our jobs and can't pay back the schooling designed to give us access to the 'high' paying jobs.
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As usual, he's full of shit. Loaning money's a good thing. It gets bad when people can't pay it back for whatever reason (whether diminished earning capacity or pure sorriness) and have no collateral against the debt. Additionally, nobody's forced to take a loan. So they're not some mythical tool to stick it to the little man. Not paying them back, however, fucks the rest of us over by hastening the increase of interest rates.
My loans will be paid up soon enough. Was it worth it? No, because I've already changed careers. But you pay what you owe plus the usury stipulated at the rate you agreed to pay it.
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fuuuckk this shit. i had to defer my loan and after 6 months I'm going to have to start paying 2000 bucks a month? how is this possible? and they don't allow me to defer it anymore? hah WE'LL SEE ABOUT THAT BITCHES.
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As usual, he's full of shit. Loaning money's a good thing. It gets bad when people can't pay it back for whatever reason (whether diminished earning capacity or pure sorriness) and have no collateral against the debt. Additionally, nobody's forced to take a loan. So they're not some mythical tool to stick it to the little man. Not paying them back, however, fucks the rest of us over by hastening the increase of interest rates.
My loans will be paid up soon enough. Was it worth it? No, because I've already changed careers. But you pay what you owe plus the usury stipulated at the rate you agreed to pay it.
The current economic collapse due to loan fuckups seem to disagree with you. The general banking system is flawed and will collapse once the Chinese loose confidence in the US dollar.
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This is why I never went to college - afraid of loans. But going to college means one doesn't get stuck in a boring job that pays too much to switch because one only has insurance industry degrees.
Hey, if I can't be a good example, I can be a horrible warning, right?
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The current economic collapse due to loan fuckups seem to disagree with you. The general banking system is flawed and will collapse once the Chinese loose confidence in the US dollar.
No, I'm right. It's not the fault of the lender, a majority of whom are reputable and act in good faith. Nor is it the fault of the majority of borrowers, who also act in good faith. It's the comparatively few borrowers defaulting on loans (either by circumstance or design) or the comparatively few lenders doling out risky loans (either by circumstance or design...or by federal law).
Lending's still a good thing. For instance, I'm not dominated by the loans that are in my name. The fact that I could get a loan today due to my good history and ability to repay (since I'm currently working, pursing a degree in a strong field, and already have bankable assets for security) is a good thing if I wanted to start a business or buy a home...and it's a GREAT time to buy a home right now. The problem is that there are some who have misused the privilege or are bad risks that lenders have screwed over. Rather than a tool to control the masses, it's more akin to running with scissors.
You'll also notice that A) the debtors who refuse to pay up aren't going to jail and B) neither are the bad lenders. When it gets to the point that consequences are suddenly injected into the affair instead of making taxpayers foot the bill, you'll see some immediate changes made across the board, starting with personal accountability.
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The current economic collapse due to loan fuckups seem to disagree with you. The general banking system is flawed and will collapse once the Chinese loose confidence in the US dollar.
No, I'm right. It's not the fault of the lender, a majority of whom are reputable and act in good faith. Nor is it the fault of the majority of borrowers, who also act in good faith. It's the comparatively few borrowers defaulting on loans (either by circumstance or design) or the comparatively few lenders doling out risky loans (either by circumstance or design...or by federal law).
Lending's still a good thing. For instance, I'm not dominated by the loans that are in my name. The fact that I could get a loan today due to my good history and ability to repay (since I'm currently working, pursing a degree in a strong field, and already have bankable assets for security) is a good thing if I wanted to start a business or buy a home...and it's a GREAT time to buy a home right now. The problem is that there are some who have misused the privilege or are bad risks that lenders have screwed over. Rather than a tool to control the masses, it's more akin to running with scissors.
You'll also notice that A) the debtors who refuse to pay up aren't going to jail and B) neither are the bad lenders. When it gets to the point that consequences are suddenly injected into the affair instead of making taxpayers foot the bill, you'll see some immediate changes made across the board, starting with personal accountability.
Lending is a good thing, yet the lending is not occurring. Nor was it going on in good faith before. While some could, a majority aren't. America was built on risks, but the lack of risks being taken now cannot balance out the crazy 'packaging' of the loans that occurred before. The collapse was instigated by many different facets of the banking industry, not just a few bad eggs. I am from Rhode Island, if the Savings and Loan collapse that occured there didn't collapse the economy, then a few mortgages in Florida shouldn't have destablized the world economy. Tax payers aren't footing the bill, China is. They're gonna want more than money in exchange for this debt. Money is meaningless to a country like China. They want powet and are getting it the same way we defeated the USSR, just through different means.
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Lending is a good thing, yet the lending is not occurring. Nor was it going on in good faith before. While some could, a majority aren't.
Yes, the market is largely frozen...unless you've got some hard asset to put against it, you're just not getting one. And the cause of this is multiple, but it's primarily due to defaulted loans. And it doesn't take a majority of borrowers defaulting to cause the crunch...92% of mortgages are being paid.
America was built on risks, but the lack of risks being taken now cannot balance out the crazy 'packaging' of the loans that occurred before. The collapse was instigated by many different facets of the banking industry, not just a few bad eggs.
I am from Rhode Island, if the Savings and Loan collapse that occured there didn't collapse the economy, then a few mortgages in Florida shouldn't have destablized the world economy.
This goes back to the idea of good faith loans. You're right, but that's not the whole story. People weren't having their arms twisted to sign up for those crappy adjustable-rate and teaser rate mortgages. But they weren't betting on the bubble bursting and leaving the credit industry, the economy, and their own ability to pay in shambles, either. Lenders were indeed giving out risky loans based on the idea that they were guaranteed by government agencies, who immediately lost their asses with the toxic debts.
These agencies (federal reserve, FHA, Fannie Mae/Freddy Mac, etc) were created in order to give "free" (read: taxpayer) money to guarantee bad loans (many of which were originally mandated by the government anyway). By removing the fear factor of giving/taking bad loans, as well as artificially lowered interest rates in the wake of the dot com bubble burst that lead to cheap money and even more subprime lending, there arose a speculator market that further destabilized and helped usher in the housing market collapse.
Tax payers aren't footing the bill, China is. They're gonna want more than money in exchange for this debt. Money is meaningless to a country like China. They want powet and are getting it the same way we defeated the USSR, just through different means.
I agree, but consider this: in a government "of/by/for the people", we are just as liable for ChiCom loans as those who took out the home loans. And, like them, we can't pay it back. Power and influence is the only way it *can* be repaid. But like an old school street thug racket, we'll either pay up or do continually more and bigger favors that know no end because there's no dollar sign attached. And it's worse here, because there simply ain't enough money out there to pay it back!
In the end, you can't legitimately blame all the lenders for doing what they do. You can, however, blame individuals for gambling on the bubble, and you can blame (and vote out) politicians who act as the dealers at the table.
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STOP! Only one way to settle this here in Barter Town raggity man.....THUNDERDOME!
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Sounds good to me.
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*rips off his shirt and pulls up a baseball bat riddled with nails*
LET'S FUCKING DO THIS!
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I'd be able to easily pay off the loans I have for school and other things in about 2 years if I had even a job that paid $20k a year.
However I'm stuck in shitty Red Robin that refuses to give me any more than 10 hours a fucking week, and I'm living off of unemployment and living from paycheck to paycheck. I told those bastards I needed to work at least 20 hours a week and make at least $200 a week if I was going to take their stupid bussing job.
I'm not cleaning anyone's shit tables for $50 a week.
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Break a deal?!
Spin The Wheel!
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GLADIATOR!
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Without the chanting throng, that just looks like a gangbang play-by-play.
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I read that as "Chanting Thong."
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Bernie, I love your word choice.
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Loquendi - a powet I try to use only for good.
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But it works for evil, too.
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A southerner would think that, wouldn't they.
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What, you never heard of a grammar nazi? Nazis are e-ville!
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Nazis...I hate these guys.
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Ninjas are worse. They pose as gardeners.
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But who doesn't like a nice garden? A monster, that's who.
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Been meaning to ask - anyway you can get your relatives to stay off the amaryllis? I'm sure our impressive dollar weed crop is just as yummy.
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Your dollar weed crop is not yummy at all. :fingershake:
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It's the dog piss, isn't it? I take shame. :-[