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Raichu7

If you had that all money in a savings account instead could you afford a home then? If you could then your student loans have still prevented you from affording a home.


[deleted]

Why not? All it takes is a 720 credit score and some cash for the down payment and closing costs.


SumOfKyle

Bc houses house $800k and I can’t save up $100k (which isn’t even 20%) while paying for everything else.


[deleted]

Every house is 800k in your area? Damn what's your zip code? I got a 4 bedroom 2k sq ft house in Indiana last November for right at 200k.


Ashkir

The problem is a lot of us don’t want to move away from where we grew up. Where I grew up homes are over $1 million for a 2 bedroom now. When my parents grew up it was only $30,000.


[deleted]

That is wild. Hopefully it doesn't stay that way forever. Assuming your parents have a home that used to be 30k and now is 2 million maybe they'll share some of that generational wealth with you. But, if you grew up somewhere that has become a very wealthy area, you may have to start in a lower cost of living area to purchase your first home. That's just a fact of life sometimes.


Justlose_w8

> Hopefully it doesn’t stay that way forever Oh you sweet summer child, it’s only going to get worse. Best case scenario is home prices drop significantly but there will always be demand propping that up unless the world goes to shit, and there will be bigger problems than owning a home at that point. Also, no offense, but most people do not want to move to affordable areas just to buy homes. There’s are many reasons those areas are cheap and it would take a huge cut in [perceived] quality of life to move somewhere drastically different than what they’re used to. Some people would thrive, others would do the opposite. Glad you’re enjoying it, but it’s not for everyone.


[deleted]

No offense but if you don't want to move to be able to afford a home then shut the fuck up about not being able to afford a home. Glad you're enjoying paying 3k rent with no hope of ever building equity, but it's not for everyone.


Justlose_w8

I own property, so no offense taken. You’re putting up some great arguments on reasons why moving to Indiana would be miserable. Let people live their lives instead of trying to tell people what to do.


[deleted]

"Don't tell other people what to do" Meanwhile this entire sub = "Tax the blue collar workers to bailout the privileged college kids at gunpoint" Ok buddy.


rogueShadow13

Most houses on the market are up 100% or more over value. Recently bought a house and every house we looked at was purchased for $80,000-$120,000 a couple years ago and is going for $200,000+. And our area isn’t even that bad. In Seattle, the house we bought for $270K would be worth over $500,000


[deleted]

The housing market is hot but saying "I'll never ever be able to buy a house" is hyperbole.


rogueShadow13

Ehh if the housing market doesn’t cool off, it’s likely out of range for many people for a long time. Coupled with rising food, gas, rent, etc. prices it’ll only get harder.


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rogueShadow13

It took you until 37 to buy a $200,000 4 bedroom house. Costs have only gone up since November. That house is worth more and everything else costs more. So hard is an understatement. Impossible? No. Damn near for a good chunk of the population? Yes.


[deleted]

I could have just given up and accepted it as being impossible. I chose not to. I've been homeless and lived out of my car. I've stocked shelves overnight, lived in shitty apartments, not the easiest life but certainly not the hardest either and I choose not to complain and not to view anything as impossible.


Winter-Amphibian1469

You live in a state that doesn’t have indoor plumbing or talking pictures (we call them movies in civilization). Of course buying a house is easy in Indiana…lol.


[deleted]

I'm watching your mom right now in color moving pictures while taking a dump indoors, so I think you might be a bit confused friend. Where you buy a house is a choice, just like how much you take it out in loans. Do you see a pattern in your ability to make smart choices? 😊


WeeaboosDogma

This takes the cake as the most out of touch comment of the week.


[deleted]

Go on


WeeaboosDogma

It is. No one is arguing otherwise.


[deleted]

Make an argument rather than just claiming victory ffs you 14 year old commies are really annoying.


WeeaboosDogma

What argument? You don't have one. >Just have 720 credit score and save money for a down payment. With what money? With what credit? Millennials and Zoomers have no money to buy a mortgage, while some if not most haven't even gotten a credit card yet to have a score. Then if you pay the ridiculous loans handed out regardless if you can pay them out, your credit score falls. I bet you think people can just move if things get bad. Jesus I'd like to have a sliver of your privilege. Life would be so easy if things were handed out on a silver platter.


[deleted]

> Life would be so easy if things were handed out on a silver platter. Spoken a sub designated to stealing tax money from the working class to bailout privileged college kids. Hilarious. My privileged life includes a stint of being homeless, but never giving up or claiming victim status.


PhilosophicallyWavy

But it'll help your ~~social~~ credit score


ultratoxic

Until you actually pay off said loans. Then that line of credit "closes" and your score goes down again. Ask me how I know.


PhilosophicallyWavy

Because western society has a debt economy. Debt is needed for economic growth because we import more than export. Debt creates money. If you aren't in debt you aren't helping the economy, that's why your ~~social~~ credit score drops.


lyrikz74

It goes down because you closed a line of credit you genius. I just paid off a 15k credit card and it went up 35 points. If i turned around and CLOSED that account, it will drop again. Its a game, just learn how to play it.


Farkon

Wouldn't want to learn this game from you lol.


lyrikz74

At one point i was at 839 credit score. So definitely you dont want to learn from me. I made a medium size purchase, it dropped, i paid it off, and its never really went back to where it was. All accounts still open and outstanding. So, maybe you have a point.


Farkon

I'd probably just learn it from your "high banker friend" and not you.


lyrikz74

I dont know a single banker friend, i have no idea where you are quoting that from. All you have to be is not an idiot to have a decent credit score. Just pay your bills. Now, if you cant pay your bills i understand why a credit score system would be bad for you.


Farkon

Ah yes the classic, "Just make more money and pay your bills" retort. The whole point of college was to get a job and make more money. Doesn't happen with everyone and even the lucky ones still can't afford shit because going from making 1.5k a month to 3k a month doesn't fully cover the 2k you have to pay for student loans. 1.5k or 1k Which one is greater?


PhilosophicallyWavy

/s response Yes sir, as you say sir, i praise this glorious game sir, i give daily thanks to the banks that create currency and decide where it goes as their wisdom is far beyond ours, i support that we are only worthy of a home if they deem us worthy and those that aren't are lucky to be able to rent from those who are worthy, just as i also fully support their investments in buying homes to keep empty, along with their investments in fracking, oil spills and politicians. Less /s response You're a rooster. We know how it works and how to play it, that doesn't mean it's a game we have to like.


mossy_vee

Why should we have to play a stupid fucking game we never asked to play?


lyrikz74

Idk man. Move? I ask myself that question a lot. Im trapped in my own shit. I own to much stuff and spent my life buying it and am to much of a pussy to sell it all and quit the game.


11never

"Mortgage sized payments" my mortgage payment is *less* than studio apartment rent prices in my town. Not just that, but a single room on someones house. I love that everyone is advertising on facebook nowadays so I can look up the sale price of their houses and math out the mortgage cost and tell them just how immoral they are being by pricing the room so high. Bless a comments section.


rosekayleigh

I just looked at what a 1 bedroom apartment is going for in my neighborhood. They were all double my mortgage payment (on a 4 br 2 ba house). There is some serious exploitation going on right now. I’ve just accepted the fact that my kids will have to live with me when they grow up. I don’t know how they’ll ever afford a house of their own.


smitty3z

My rent is 3x what my mortgage was.


greenSixx

Typically we include mortgage, taxes to escrow, and any insurance all together as the mortgage payment. Makes the comparison more fair.


jas75249

If it's just the mortgage sure, but after adding in all the things required for the mortgage and home ownership like taxes, insurance etc then it's pretty much the same in most towns, also that's not factoring in the money for maintenance.


11never

Let me be really clear here- the price of my mortgage principal, escrow, insurance, and taxes all together is still half the cost of renting a room in someone's house. Its fucking criminal. These renters would have no problem paying for homeownership if the banks would just approve them and if landlords wouldn't overcharge so hard that they can't save a scrap of income to afford the downpayment.


rosekayleigh

Same here. When I said that rent for a 1 bedroom was double my mortgage, I was factoring in my property taxes and insurance too. It’s insane. It should be illegal to do this to people.


rosekayleigh

That’s with my mortgage, property taxes, and insurance combined. I did not factor in maintenance, which can be pricey for sure.


TheLadyEileen

I'd even be happy if they stopped the interest


greenSixx

Just make any loans immune to bankruptcy illegal.


herofwastingtime

Honestly that would be more than enough for me. I’m not mad I have to pay the loans I took out, I’m mad that I’ll have to essentially pay them 2-3x over by the time I actually pay them off.


TellTaleTank

Hard agree. I understand I have to pay my loan back, it's the fact that I might never ACTUALLY pay it back thanks to bullshit interest rates.


harebit

I did the math recently and to pay off my loans based on the current “income based repayment” plan would take me 76 years. I am 37 and didn’t even graduate.


[deleted]

The faster you pay, the less interest you pay.


FollowMeOutOfTheCave

Lmao


[deleted]

Lol imagine paying your own debts amirite lmaooooo


coolgr3g

If they at least capped the interest. Like no loan could make back more than 15% or something. ANYTHING would be better than the current system.


laxnut90

Even if they reduced the rates to be the same rate they lend to banks it would be a massive improvement


[deleted]

If you don't like the internet rate offered, don't sign for the loan.


Winter-Amphibian1469

Hey, fellow Hoosier. I just wanted you to know that the state government paid for 90 percent of my tuition years ago, and I moved to a blue state immediately after graduation. Thanks for the free stuff!


[deleted]

That all sounds fine to me. Enjoy!


Winter-Amphibian1469

You can’t even maintain your carbon copy persona. What a tryhard. Again, thanks for all the free stuff.


[deleted]

They did, for a very long time. Did you make extra payments? When you signed the loans was it for a 0% interest rate? No... So why do you feel so entitled to have it changed now?


[deleted]

Do you feel it's ethical to lend hundreds of thousands of dollars to 18 year olds with no credit or income checks? Why is this legal, but not with mortgages? Predatory lending by current mortgage law.


Winter-Amphibian1469

He doesn’t have a sense of ethics: it’s too complex for him. Instead, he’d rather cheerlead for tyranny and oppression.


[deleted]

Are 18 year olds getting hundreds of thousands of dollars in loans? No. You get one year at 18, then one year at 19, and so on. You don't get a 200k loan on your 18th birthday. You didn't have to go to college. You didn't have to go to a fancy college instead of a state school or community college. You wanted a Ferrari instead of a used Honda civic, and you signed all of the papers so now you have to pay it back. Or are you saying 18 year olds aren't adults? I guess 18 shouldn't be the voting age if that's the case. Do you agree? You want to call 18 year olds adults when it suits you and children when it doesn't.


Winter-Amphibian1469

Imagine simping for banks and the federal government who trick teenagers into lifelong debt. Grow a spinal column or go away. Also, 18 year olds can’t buy alcohol or tobacco so I guess they’re not fully adults, eh?


[deleted]

Imagine wanting adult rights without adult responsibilities. If you don't want to pay back loans, don't take them out. If "teenagers", in this case 18 and 19 year olds, are so easily tricked, they definitely aren't ready to vote. It's not a lifelong debt. You just call it that because you only make the minimum payments.


Winter-Amphibian1469

You don’t know my circumstances, invertebrate. Shame that you’re more loyal to banks and the federal government than your countrymen. Did a college graduate run over your dog or something? So much rage toward the educated!


[deleted]

Rage? Not wanting my taxes to bail out your poor decisions and laziness is not rage, friend.


Winter-Amphibian1469

Your tax dollars paid for my tuition in advance so I don’t need you to bail me out. Sorry I cost you two packs of Boone’s Farm. You are raging. You obviously hate educated people. Sorry if one was mean to you but siding with the federal government and banks just makes you a bootlicker.


[deleted]

You know what Boone's Farm is while I don't, who's the redneck? lol Siding with the banks and federal government... No, I'm siding with my own wallet. Since you're not satisfied yet with all your handouts and want to dip into my wallet more. You're the one taking all of the federal handouts and paying thousands in interest to the banks... who's the bootlicker exactly? Hmm


JesseJamessss

Thoughts on raising minimum age for an adult to 25? I think raising the age for everything under 25 considered legal for an adult to 25 alongside giving those 7 extra years after 18 to learn a more specialized role, and to learn finances, current culture, mental health, physical health, security, and everything you'd need to not be exploited by the systems that target 18 year olds.


[deleted]

I would actually agree with raising the adulthood status to 25. That would be voting, loans, guns, cigarettes, weed where legal, alcohol, trans surgeries or hormones, etc all of it. Totally on board.


caseCo825

The system is quite obviously predatory and in need of reform. People who signed up for predatory loans at a young age deserve to be forgiven. It's pretty simple.


TheLadyEileen

I did make extra payments and am still making payments.


LtDropshot

I'm fortunate enough to not have any student debt, have a decent enough STEM job, and I still feel like I'll never own a house


[deleted]

Why? All it takes is a 720 credit score and around 10k cash for the down payment and closing costs. Which part are you missing?


LElige

Lol 10k for a down payment. What kind of podunk, shithole, back country, cousin-fucking, place can you get a house for that cheap?


[deleted]

That's 5% on 200k. It was closer to 13k after other closing costs. There's houses for sale for 200k all over America. With certain loans you can even do 3% down on a mortgage. What zip code area you in that there are no 200k homes for sale? I mean literally none, not a mansion with a pool like mommy and daddy raised you in.


LElige

Buddy. I was raised in rural Florida, 10miles out of town on an old ranch home. And even that house was 300k. Unfortunately I work in film and television so I live right in Los Angeles, and can’t move some place else. 200k here would get you an empty lot not connected to electricity or plumbing, if you could even find such a deal.


[deleted]

Well out here in not-LA we have $200k 4 bedroom homes and factory jobs that pay $20-30+/hr. I'm sure since you work in such a high COL area you're making tons of money at your film and TV job...... Right?... Right? Cus if you're making $60k a year...... you might need to take a few minutes and reflect on all of your life decisions top to bottom.


LElige

Keep making the assumptions friend. I’ll keep making you look like a fool, cause yeah. I am doing pretty damn well for myself. But as well as I’m doing, giant real estate firms are doing way better and they buy up just about everything to either flip or rent for a profit. And sorry, I (and probably most people with even remotely interesting lives) don’t want to live in a podunk town making 5x less just so I can have a large house.


Nightsky31602

The part that you’ve repeatedly ignored in other comments, a little thing called not having the money


[deleted]

Not having the money... Yet. It's a goal you work towards. Build your credit score and save up your down payment over time.


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AugmentedHealer

Yeah it was the fault of the Millennials for listening to those fucking boomers, those guys are crazy, maybe senile, and should be removed from duty immediately.


[deleted]

So you got suckered and it's up to blue collar tax dollars to bail you out? Awesome. Thanks for admitting the debt crisis is caused by your stupidity.


Winter-Amphibian1469

Anti-intellectual CHUD no. 827,566 chimes in.


caseCo825

"Blue collar tax dolllars" is bullshit, its everybody's tax dollars. Which if you're so worried about why are you complaining about regular people asking for a way out of literally being suckered, as you put it, and not the constant corporate bailouts? That you would defend blue collar workers and big banks in the same argument is ridiculous. "They" are doing this shit to all of us however they can, college graduate or no.


[deleted]

You want to steal from blue collar to give to white collar, which is already the more privileged group. That's what's ridiculous. Who said I'm in favor of corporate bailouts? I'm not in favor of taxes or bailouts or sending US tax payer money overseas. What I am in favor of is personal accountability.


caseCo825

The blue and white collar labels dont really work anymore especially if you are trying to use college attendance as a qualifier. Coming from a middle class background no longer guarantees becoming middle class. There's virtually no difference between 99% of us when compared to the people responsible for this shit. Using tax money to pay for social programs isn't stealing. If you believe that then you are a thief. "Not in favor of taxes" doesn't work unless you live off the grid. Debt relief is no different than bailing out a corporation except it actually helps people who need it while also righting a wrong and stimulating the economy in a way that directly benefits other real people. Just cutting the interest would be huge for people and wouldn't affect the average persons tax rate at all.


YouVersusTheSea

“Steal” is an interesting word to use here, Ryan. What happens if you get hurt at your blue collar job? Do you pay out of pocket to go see your local blue collared physician, or does the company pay for the visit? If the company refuses to compensate you for your lost work time due to an injury on the job, do you search the phone book for a list of local blue collared lawyers who will take your case?


eyecebrakr

All these people do is whine on reddit about being victimized by their own choices.


InkSymptoms

We can always riot


fezzik1987

Go for it!


Pod_people

It's a generalization, but the main weapon the system uses against blacks is mass-incarceration and the main weapon they use against whites is debt.


Winter-Amphibian1469

Call_Me_Ryan is an incel. None of its opinions mean anything.


jollyroger1720

Lol agreed. Probably got turned down by a student many years ago cause he is a creep. Maybe she got a restraining order and he is still raging today


SNTLY

Can people just not feed these fucking trolls? It's not really discourse when one person is trying to have a debate and the other person is just cross eyed, humping their podium. Ignore them and they'll tucker themselves out.


ScarilyDebonair

If you are always in debt are you ever free?


evergreen_cracker

Exactly. The loan maximums should align with the salary projection of your degree. Teachers only start out with 30-60K salaries even w/ master's degrees but have over $50K in loans on average. That does not make sense.


[deleted]

Then don't sign up for the loans.


Pat317x

I have a dumb question. With the impending recession, would canceling student loan debt be a massive boon to the US ? Would this resolve major financial issue and free up a large amount of capital from the bottom up which would increase spending ?


dtj2000

Not really, the people with college degrees are gonna be fine. The people with just high-school degrees are the ones that need help. Low education wages are gonna continue to go down and get out sourced while any higher education salary is gonna continue to grow and pay heavy dividends over the persons life.


Its_Cayde

I don't have students loans and i'll still never own a house


[deleted]

Try getting a job.


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[deleted]

Relocating to a LCOL area would be a wise financial decision for many of you apparently, but just like with your student loan decisions, wise financial decisions might be out of the realm of possibility for you...


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Its_Cayde

You mean a 3rd one? I have 2 rn..


[deleted]

Proud of you.


TightlyUseful33

And it isn't just the payment amounts that prevent home ownership: Student loans have murdered my credit score. I'll never be able to apply for a home loan bc of it


mrjackspade

It's amazing that getting addicted to bath salts and dropping out of college was one of the best things I ever did.


kernl_panic

This honesty is based af.


CompetitiveSong9570

That’s why investment firms are buying up houses and land like a spoiled rich child in a candy shop. It’s disgusting.


lyrikz74

How bout you not go that route? Like a ton of other people. I still feel interest rates for school loans shouldnt exceed 1%. 20 plus percent if not more is fucking robbery.


kovake

More people need to run for office. Things won’t change if the same business CEOs and corporate sponsored politicians stay in power. More regular people need to run, win and change the rules.


SNTLY

The system is set up for those people to lose. It's incredibly difficult for regular people to get elected. Even AOC (who I still like) interned for a Kennedy in college, worked for Bernie's campaign, and was backed by the Brand New Congress PAC. She was not just *some bartender* from the bronx. She very much had establishment connections in place prior to her election.


fewrfsadf

I don't know what the problem is. I've accepted that I'll never own a home in this country. I've realized it's pointless to even attempt to pay my student loans. As far as I am concerned, I do not have student loans. "But they'll garnish your wages!" They actually can't. Collection agencies can get first dibs on your tax refund, but I can simply underpay my taxes (thus owing taxes come tax time) or pay them exactly correctly and then there is no refund for them to steal. "But your credit score!" Well you got me there. I will indeed have a low credit score and therefore will not be able to buy a house ever. When the options are "Have the credit score to buy a house, but not the money" or "Have the money to buy a house, but not the credit score" which do you think is better off? They can have their silly imaginary social score, I'm keeping my money. Now I have the largest savings I've ever had, and I'm going to keep saving until I have enough to get the fuck out of this country.


D_van_

I don’t mean to sound like a giant asshole.. but I realized it was a scam at 18 and chose trade schools instead. That being said, I still think other peoples student loans should be forgiven for the betterment of the nation as a whole.


jollyroger1720

🤗 it is a scam. You are not an asshole the people who oppose fixing it are assholes the ones profiteerimg off student debt and the polticians they uiy are giant assholes


mossy_vee

Our student loan debt went from about $70k to over $100k just in the last few years from covid deferments. It’s now at a point that we can’t even rent a shitty apartment because of our debt to income ratio. Even with enough money saved to pay the entire lease off at once. We moved in with spouse’s parents last year from a home we were renting because his dad had cancer, and now we can’t even get back to living on our own. None of it makes fucking sense.


jollyroger1720

By design its social control


EmergencyExitSandman

debt so high OP had to sell most of the pixels


rerhc

Who is the "they" here? While it's sometimes meaningful to think in terms like this, i.e., "they" could meaningfully refer to the student loan companies + the politicians being paid by them, it can lead to lazy thinking. Who is the coordinated group that wants us to have student loan debt and not own a house? (Genuinely asking). It's our system of capitalism, leading to every everyone just caring about their own bank accounts that leads to these bad outcomes. The schools, loan companies, politicians, etc. we're all just doing what our system is built around: making the most money possible without giving a fuck about external consequences.


The_Good_Lifee

Riot or get nothing.


Daviewayne

Who is "they"? I'm really not trying to be facetious. It's just that I always wonder who this "they" is in posts like this.


ghpkhg

Sally Mae and the government planned and orchestrated this


FasterThanTW

Nah the person who asked to borrow money did


ghpkhg

Yes, the 17 year old who was loaned $50,000+++ is to blame. No way would companies or the government intentionally manipulate low socioeconomic individuals for the own [gain](/r/military)


jas75249

Parents are not blameles, they could be parents and advise against it and give alternatives like trade schools.


ghpkhg

Sure, and that is happening now, but don’t brush over the fact that Sally Mae got government protections and then invested a lot of money in convincing adolescents to take out loans, while also lobbying for fewer regulations on state colleges and their oversight - which conveniently lead to skyrocketing college prices Student loans are/were predatory. Instead of bombing some brown kids, let’s undo some of the harm the government did with our money. The student debt tally is not extremely high because everyone who went to college is an idiot. It’s high because the system was created to make money off of interest, which requires people not being able to pay their loans.


FasterThanTW

No 17 year old is taking a $50k loan. Not how it works.


ghpkhg

I don’t see how it’s any different. But semantics are boring.


FasterThanTW

It's not semantics, you're just being disengenuous to make an argument


ghpkhg

And you’re choosing one specific thing to play semantics with instead of anything else. At what point should the 17 who signed up for 1 year of college loans bail out? The 17 year old signed up for it. The 18/19/20 year old is merely continuing it.


FasterThanTW

If they cancelled all loans taken by 17 year olds it would be an enormous gift, and you'd all still be complaining about it


Winter-Amphibian1469

Boomers went to college for pennies compared to us, but ok.


nmiller21k

There are a lot of government bonds backed by debt. They’re selling out education and using it to pay off who knows what rather than tax the ultra wealthy.


7barbieringz

We need to start naming the people behind this


nmiller21k

They’re treating it as a debt backed security. Why it will never change they just found a way to make billions on top of our taxes.


Yuno42

Cool it with the anti-semetic remarks


JointDamage

* Tens of thousands


flowe_

You aren’t paying mortgage prices, you’re paying the mortgage price + $1000 every month.


[deleted]

If anyone in here was actually paying that much toward their student loans every month, there wouldn't be a debt crisis. You all make the minimum payments and cry all day and you know it.


DeDodgingEse

9 more years to go on my contract. At least I took mine out for a degree in STEM.


[deleted]

You're allowed to pay faster, FYI.


DeDodgingEse

Yes. Let me pay more then the 1K monthly. I definitely knew that was always an option.


Eriane

On the plus side, due to inflation, the debt will be like $5 in 2019 money by 2024 and hourly wage will be like $3900/hr. So if you had a loan prior to inflation, you technically owe less if you end up getting paid more when all this is over. But only IF there's a rebound economy. Chances are, we're all screwed and it'll make the great depression look like 2006. We're on our way to join Venezuela.


SamuraiCook

The interest rate on student loans in this country should be between 0-2% maximum.


PM_ME_UR_PAYROLL

You don’t let a cow give away it’s own milk. You make sure shes standing at the barn door every morning waiting for you to milk her.


Ok-Ordinary4922

Paid my $50,000 student loans off…actually…with the proceeds from the sale of the second home I owned. Sold it to upgrade to a bigger place for the family. I’m a millennial…the fuck are all of you doing differently? Maybe try working some overtime in order to save some cash…rather than take another mental health day.


jollyroger1720

Try not beimg a douche. Btw i own a home but recognize not everyone is so lucky


Does_Not-Matter

This is why property values are artificially inflating. Less people have the ability to buy so artificial actors are buying up and selling houses to make up for and increase profits.


eyecebrakr

Damn, if only there was a way to decide whether or not to sign up for a loan that you already know the consequences of.


greenSixx

Yes, 17 year olds who can't sign contracts can get loans for life that are immune to bankruptcy


FasterThanTW

If the government wiped out all the student loans people took at 17, it would be a tiny amount and they'd still complain, because you don't take all of your loans at once.


bretth104

You apply for a $10,000 business loan at 17 and you’ll get laughed out of the bank. Apply for a $100K student loan at 17 with your family telling you it’s a great idea and you’ll be approved immediately. It’s predatory.


FasterThanTW

Nobody applies for a 100k dollar loan at 17 because you don't apply for your whole education at once, nor could you- too much changes from year to year. Also the average student debt is under 40k


AWitchsTit

Damn if only there was a way to make college affordable for everyone so not only the richest elites can educate themselves


eyecebrakr

That's a separate issue that I completely agree on.


AWitchsTit

Okay so.... how else are people supposed to afford college? And don't say trade school, not everybody is a good fit for a trade.


eyecebrakr

The entire college system needs to be reformed. The prices of tuition, books, supplies, etc, are an outrageous racket that the federal government takes advantage of. It's a disgusting scam. But at the same time, no one is forcing anyone to take these loans. College also isn't required to have a decent and lucrative career.


AWitchsTit

Okay, agreed. But why are those two mutually exclusive? This current system is designed to keep poor people from attaining higher education. As it stands, we have no other option but to take out loans so we can afford school; that's not our fault for trying to better ourselves and doing the only thing we can in order to make it happen. Oh, and by the way, when you said "college also isn't required to have a decent and lucrative career", that's true nowadays, but you at least have a better chance than trying to make a lucrative career out of being a low-level manager at a walmart or mcdonald's with no degree.


jollyroger1720

Dam if only there was a way to be decent person and not shit in 45,000,000 hardworking taxpaying everyday Americans


jme365

I wonder why these people took out a loan, without expecting that they would eventually have to repay it? Who gave them that unreasonable expectation?


FasterThanTW

>Who gave them that unreasonable expectation? Bernie Sanders


jme365

Why can't I correct "alone" to "a loan"? Especially when there appears to be a method to do so, but it doesn't work? Is somebody playing games?


pasta4u

So they took out loans for college , hopefully got a degree and are upset that prior choices are preventing them from buying a home ?


[deleted]

[удалено]


eyecebrakr

To troll you whiny victims of your own choices.


jollyroger1720

Hurr durr StUdEnT BaD pAy BilLs boooring go back to troll school


FasterThanTW

This poster purchased an education so it's incredibly disengenuous to state they're paying for something they'll never own. They already own it. Edit: it's *extremely classy* how far leftists have taken to regularly misusing Reddits' mental support messages to anonymously troll people whenever someone disagrees with the agreed upon narrative in a thread. And when I say extremely classy, I mean gross. Grow up and pay your bills like the rest of us do.


Winter-Amphibian1469

“FasterThanLowIQ”


badabingbadaboom88

I dont understand why americans are taking these loans? they always act like they werent aware that they have to pay them back


jollyroger1720

Want some salt on that boot


ABaadPun

They went to school to party, do drugs, and get laid, thinking that they were owed a job at the end of their degree program irrespective of their qualifications or resume. The truth is there are states in the US where tuition is all but paid for, where if you're the first in your family to go to college you get a full ride. Hundreds of scholarships for minorities, interest, fellowships... And most people overwhelmed by student debt just took out loans to go out of state (out of state tuition is significantly more expensive than instate ) Every single redditor who tells you they were lied to about a college education is also lying, just about what they were promised. They were promised a good time, and sold the "college" experience. These people with hundreds of thousands of dollars in debt aren't people who went to a practical university in their state, chose a degree program with a promising career field, did internships and work studies as part of their degree program, and had some sort of plan when they got out. To compound the issue, most people simply believed that they would be able to land a job by virtue of having a degree.


[deleted]

Americans under 30 compete for who can be the biggest victim every day of their lives. Nothing is ever their fault or their responsibility.


jollyroger1720

Internet trolls compete for the title of biggest douche.


Winter-Amphibian1469

He can’t even troll in a way that’s fun or original. He’s a real Basic Essentials type.


rogueShadow13

I’ve enjoyed reading your comments all over this post. Quite the anger you have. You should seek therapy friend. Clearly have a lot of pent up emotions that you’re projecting here.


Nj_all_day

“I went to school but now I don’t want to pay for it” if you didn’t want to pay for student loans why did you take them? I’m having trouble following logic here


jollyroger1720

Lets root for a few yacht hoarding tax dodging oligarchs to resume extorting 45,000,000 hardworking taxpaying everyday Americans. I'm having trouble following the pathology here


Winter-Amphibian1469

It’s not about want, it’s about being able to do so. You know this. You’re just being coy for attention.


caseCo825

Because when you're 18 and don't know shit you do what your parents tell you because you trust them. You dont know that a college degree in no way guarantees the ability to pay for it because you have always been told the opposite. You have no way of knowing how truly predatory the loan practices are because you've never taken out a loan before. The logic behind an 18 year old maybe being forgiven for taking out crippling loans without all the relevant facts is pretty simple.


Idrivea2001Jeep

If they cancel student debt, will it be retroactive? I would really like my wife to get back the $96k I paid to pay off her student loans over about 5 years. My last payment was about a year ago.