Saturday, November 20, 2010

Fiscal Rant

So I'm not currently in school right now, although I'm on the books. This is because I'm buried in debt. In order for me to register for classes and get rid of my financial hold, I have to pay my college $11,000.

$11,000! I could buy a car with that, or invest. Or something. Anything really.






Of course, this is all on top of the $90,000 I've already spent. And even with that big old loan building up, I still have at least a YEAR of college left! That's another 30 grand at least.

Now I've tried to use mostly federal loans, like Federal Plus, or whatever so I can bank on my parents co-signing with me, but I've run that dry because banks don't trust me anymore. I've turned to places like Sallie-Mae, and Wells Fargo for private loans, and those are the ones that I'll end up paying 3 or 4 times as much over the course of my life in order to pay off. That $11,000 loan I need to take out will end up costing me $30,000, at least, by the time I finally pay it off.

The only promise I have is the rumor that federal loans can't take all of my property when I can't always afford them. I think they can only take 10% of your income, but I could be wrong. The private loans however, they can go to town on you.

You know that in this country, there is more Student Debt then Credit Card debt? That means more people owe money on their college tuition then the entire population does on their credit card purchases. That blows my mind!


I guess I really just hope the financial world collapses before I have to pay it off. I wouldn't mind a road warrior life, would you?


If you had to be a road warrior, what would you use?

Me: A reinforced jeep with a hatch on top, with chains, and hooks to grab onto the people I'm fighting.

17 comments:

  1. why not just charge your student loans to your credit card? lots of people are doing it and there doesn't seem to be any consequences.

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  2. school loans are actually easy to pay off and dont have massive interest. Just be rdy to pay till your like 30

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  3. The US higher education system is a bad joke. Pay $100k+ for a football stadium and a worthless degree.

    Simple stats:
    o 70% of US High School grads start a 4-year degree.
    o Assume pretty much anyone can graduate High School so High School grad population IQ distribution ~= general population.
    o 70% -> IQ 1 standard dev below the mean -> an IQ of 100 -15 = 85.
    o Old non-PC definition of "retardation" = IQ of 80.

    ==> Worthless paper.

    The old degree standard was that it should require the IQ of an elementary school teacher to graduate = 115 = mean + 1 s.d. = 30% of the population.

    Okay, IQ is a bogus measure, yada, but what is the meaning of a qualification that is calibrated for 70% of the population to pass?

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  4. your post today is amaizing! i like it!
    supportin & follouing!

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  5. Yeah, tuition costs just keep skyrocketing with no end in sight. Glad I got out of university before they jacked the prices even higher, but I feel your pain.

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  6. I paid my student loans off in the late 90's and early 2000's 50k of debt right there....it sucked.

    And I'm thinking a reinforced 67 mustang with a cattle hearder on the front.

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  7. that's what you get for studying

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  8. 1. Create a split personality
    2. Create a club named Fight Club
    3. ?????
    4. Profit

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  9. I'm still in school, really don't have any debt and passing but I know that my piece of paper will be worthless anyway. Shit sucks hard.

    Also, I would beef up my FJ Cruiser with spikes on the side and a reinforced plow in the front to try and push and flip people over.

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  10. student debt is horrible to deal with. for a peice of paper most likely not securing career or futures. its stupid. our education is screwed and every other counties like china and canada have the highest education rate ever.

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  11. I have student debt, too. I feel your pain man. It sucks for sure :(

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  12. Yeah I will be paying debt crazily too. That's what I get for a private school.

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    ReplyDelete