Give me ONE good reason why I shouldn't take out 100k in loans from Sallie Mae...

DeathDog
DeathDog

Give me ONE good reason why I shouldn't take out 100k in loans from Sallie Mae for "school", live off of 10k/yearly for 10 years and then kill myself when the money runs out.

All urls found in this thread:

news.nationalpost.com/news/canada/ontario-report-touting-basic-income-likely-to-target-middle-aged-women-disabled-adults-for-most-help

FastChef
FastChef

Because you could go to trade school for free, make bank and not kill yourself for a measly 10k a year

JunkTop
JunkTop

Why not save time and kill yourself now?

BunnyJinx
BunnyJinx

Because actually becoming something and living off much more than 10k a year is infinitely superior.

StrangeWizard
StrangeWizard

Normally taking out student loans for anything is a fucking stupid idea, but you have the best exit strategy there is.

Spazyfool
Spazyfool

Come to Ontario Canada, you get 22k/year (basic income) for FREE

Supergrass
Supergrass

source?

Soft_member
Soft_member

news.nationalpost.com/news/canada/ontario-report-touting-basic-income-likely-to-target-middle-aged-women-disabled-adults-for-most-help

April this year

haveahappyday
haveahappyday

Others say it will have the most impact on youth, allowing them to stay in school longer and become social entrepreneurs
oh this will be good

cum2soon
cum2soon

Because all debts are forgiven after only 7 years so you could just take out more loans and do it again.

GoogleCat
GoogleCat

live off of 10k/yearly

They have Sallie Mae in Ethiopia?

Lord_Tryzalot
Lord_Tryzalot

trade school for free
make bank

close, but not exactly

Boy_vs_Girl
Boy_vs_Girl

Because they clear the funds through your university. If the university tells them that you're not enrolled full-time (usually 12 credit hours per semester) for a period longer than 6 months then they start to send you repayment bills. If you try to hide then they can follow you to other countries due to Sallie Mae being federally owned it operates as a federal entity like Fannie Mae or Freddie Mac.

You can also only get approved for whatever your credit worthiness is unless a parent cosigns with you in which case once you bite the bullet or disappear your parents will be forced to repay your loan(s).

Good luck mate.

GoogleCat
GoogleCat

live off of 10k/yearly

Soft_member
Soft_member

Take that money and move to Thailand or some other cheap as fuck locale.
Use half of it to start a Veeky Forums there.

Flameblow
Flameblow

how about you use the funds from the loan to buy a gun, then you kill yourself without having to pay anything.

Nude_Bikergirl
Nude_Bikergirl

Not student loans.

takes2long
takes2long

I'm Canadian but I don't live in Ontario right now, can I just come to Ontario when this starts and get this shit? Or do you have to have been a resident for X amount of time?

idontknow
idontknow

Does anyone know if Canada accepts British refugees?

SniperGod
SniperGod

Just blow it all in a year, why live like a miser if you're gonna /quit anyway?

BlogWobbles
BlogWobbles

You have to maintain a certain course load and GPA or you lose the loans.

You actually have to be motivated to improve your life for your plan to work. So I don't think your plan will work.

Enlist if you wanna get killed.

Flameblow
Flameblow

How the fuck do I move to Ontario from Washington DC, USA? I've got a 16 year old car, $1k in the bank, and 1.2 BTC.

BlogWobbles
BlogWobbles

Live one really good year

Booteefool
Booteefool

you need to learn to invest money and you could easily liff off that 100k, work from home. 2% per month would mean 2k. That being said, 2% isn't even much so it should be easily achievable with the proper education. You can learn trading online.

Nojokur
Nojokur

Invest 5k into learning how to daytrade for 5-6 months.
Daytrade and learn to make 2% profit per week.
Your starting salary will literally be 100k a year from a 5k investment.

Just don't go YOLO on a meme stock and lose 50k in 4 hours.

StonedTime
StonedTime

Don't think you can discharge Sallie Mae

askme
askme

london ontario here

cant wait to live at home while working a part time job and just get a free 20k to put into investments :^)

GoogleCat
GoogleCat

You'd probably need a cosigner on the loan and you would leave them with the debt. Would you want to leave that on your parents?

I also think that the loan needs to be communicated with a college who would verify your enrollment. They would do this to make sure somebody doesn't just blow the money on cocaine and hookers.

BunnyJinx
BunnyJinx

This is not going to end well. They will need to ensure that NEETs from around the world don't flock to take advantage of the system.

It should be designed for the people who are actually needy in Canada. Not poor lazy ass people who can't get off their asses from browsing Veeky Forums all day.

Booteefool
Booteefool

lol good luck getting even a $100 loan from a bank after you default on $100k in student loans

Lord_Tryzalot
Lord_Tryzalot

Daytrade and learn to make 2% profit per week.

Nice handwaving there.

Soft_member
Soft_member

Yes! All the parasites around the world will flock to canada. Pls take all of our Bernie pieces of shit!

Techpill
Techpill

You should.

Evilember
Evilember

Living off 10k a year

Consider the following instead
do something productive
establish a reputable source of income
build your credit score
take out a mortgage for one million dollars
live off $200k a year for 5 years
kill yourself

You can have a lot of fun with $200k a year

StrangeWizard
StrangeWizard

loan needs to be communicated with a college

This. Student loans get disbursed directly to colleges, then if there's extra money, it goes to you. If you don't show up/fail, they unenroll you and the lender will not let you take out more loans.

happy_sad
happy_sad

take loan
invest in stocks
pay off loan
repeat

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