Paycheck to paycheck

[ua_guy]

ua_guy an arm isn't the worse thing out there.

Agreed.

I just have arm-PTSD from the days of owning my first house. My first mortgage makes the one we're talking about above look like a good idea.

[LivingAlmostLarge]

But it seems to be across the country the same norm. Banks are letting people take out very costly mortgages that they "Should" be able to afford. But now i can see it doesn't seem to be working.

[asoloans]

Lol,maybe unforseen problems might pop up and that woman just don't wanna have two to settle so she just do the present one for good

[Nutria]

Let me guess...you're one of those people that when a mass shooting happens you blame the guns, violent video games or violent lyrics to songs. lol

I wonder how long it will be before drunk drivers start blaming it on alcohol after they hit and kill someone? Heck they may even want to blame it on their own vehicle. May as well...jump on the bandwagon.

The reference is dated, but the sentiments still valid...

[Nutria]

It isn't because of low wages or government policies. It's because of instant gratification, laziness, and a lack of thought or caring about the future.

This.

I wanted that new external HDD enclosure. I wanted those HDDs, the TV, etc. My wife wanted to travel. Etc, etc, etc.

We wanted, so we spent. On high rate cards... And didn't want to see the damage so avoided looking at the bills. Just randomly logged onto the web bill pay site and threw some money at the cards.

It took a rock bottom moment ("How can we be $35K in CC debt while making so much money while not even living a lavish lifestyle??" ) to wake us up.

If my wife had fought me, it would have been a disaster.

[Singuy]

Let's say you earn an additional 15K. How much extra will you need to pay on your loans?

I'm sorry but I have a problem with the whole income-based repayment and wiping out of debt after 10 years. I repaid 100% of what I borrowed. We scrimped and saved and lived frugally for 12 years to make that happen. Today, people are borrowing mid-6-figure amounts that they will never repay because of the system in place today that allows much of it to be wiped clear after 10 years.

This is contributing to the rising costs of education. People are borrowing wildly because they know they won't ever have to repay the money. It's a truly broken system.

I agree that the system is kind of broken but I am also for the system. The government is subsidizing healthcare professionals and careers in non-for profit organizations. I can get behind that. The rest of the history/music majors are SOL.

Hopefully with this program in place, we'll get more MDs and less clueless frat boys.

[FLA]

I can see both sides. If I had loan debt and had no opportunity to be in a forgiveness program, I would be upset, too. But the people I know using it are doing jobs that are not highly desirable and they are not being paid anywhere near what they are worth. They are serving the State or Federal gov't in necessary jobs and accepting low salaries for ten years to get that forgiveness. If you're willing to be a nurse in the most impoverished place in Appalachia for ten years, I don't begrudge you getting your loans repaid.

but I do not think students should be racking up 200k in loans and counting on these jobs. They should be paying as they go, have a job (starting in high school), live on Ramen noodles, do work study, get grants and scholarships. There should be an upper limit to loan forgiveness