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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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51105238 No.51105238 [Reply] [Original]

How much student loan debt does /biz/ have?
>Jessica Willis: Hello, my name is Jessica Willis. I'm just going to say my first and foremost responses. It's not helpful if you're someone who has a high debt load.
>Ryan Knutson: Like many borrowers, Jessica has more than $100,000 in debt and it's not just the amount of debt that's the problem. It's the interest on that debt.
>Jessica Willis: The amount of interest that incurs if you have a high student loan, it's so astronomical that to me, $10,000, it kind of feels like a slap in the face, which I know sounds really terrible. $10,000, it's like a couple years of interest maybe.
https://www.wsj.com/podcasts/the-journal/breaking-down-student-debt-relief/dc9e31a0-c04f-43c5-8355-3465749014b0

>> No.51105273
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51105273

>>51105238
0. Wealthy families don’t need loans for school, Kek.

>> No.51105284

I had about $3000. I don't work and have a house that I paid cash for by selling shitcoins. I also don't pay taxes because my income is $0 (kek)

>> No.51105427

>>51105284
>have a house that I paid cash for
Nobody questioned you at all?

>> No.51105685

>>51105238
My fiancée has $200k in loans from undergrad and law school. I have zero.

>> No.51105698
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51105698

In Germany/Austria, uni is €380 twice a year

>> No.51105722

>>51105698
You still need to pay for insurance and cost of living in cities with unis is higher than usual, if you even find something to rent.

>> No.51105795

>>51105238
Wouldn't this be a big reason for this?
>erase debt for state school graduates
>people with minimal debt move up while people debtmaxxed can't complain about not being helped
Am I missing something?
>inb4 inflation
This is minimal at best and a small step towards the end at worst. Might as well focus on (You)kraine

>> No.51105816

>>51105238
I paid 12k off up until the payment pause started. Haven't paid anything since. Still have 28k left, well I guess 18k after this.

>> No.51105823

My father paid for my medical school, and we already paid my wife's phd (low paying job for her unfortunately). My dad also gave me the down payment for our house in 2015. Sure feels good to be blessed

>> No.51105908

If we had HARD MONEY, this never would have happened, because there would be no student debt to begin with, let alone fiat money to print to pay it off.

>> No.51105991

Started with $40k
Paid off down to $20k when the freeze kicked in
Shifted my monthly loan payments into monthly DCA
Now have $10k bitcoin and $10k in student loans
Wasn’t a bad play on my part I’d say.

>> No.51106200

>>51105238
26k

>> No.51106943

>>51105238
I wish I had bank debts
they would be payable in local monopoly money
I have loan shark debt though

>> No.51106965

>>51105238
$145k loan balance but i make $100k/year and my income will continue to go up as i advance in my career. all of my loans are federal so i'm on REPAYE. payments are like $500/month, which will drop to $380/month if the proposed changes to income driven repayments go through.