I'm 200 grand in student loan debt with a useless degree in art

CodeBuns
CodeBuns

I'm 200 grand in student loan debt with a useless degree in art and the only thing I can think of to do is sell myself into slavery by joining the military.

You wake up one day and find yourself in this situation. What do you do?

All urls found in this thread:

fortune.com/2016/12/20/social-security-checks-garnished/

BunnyJinx
BunnyJinx

Here's your bill, btw.

GoogleCat
GoogleCat

Start painting.

StrangeWizard
StrangeWizard

How did you not, at any point during those 6 years, *think* about your future?

Fuzzy_Logic
Fuzzy_Logic

Haha you're going to end up teaching like me
Haha fagget haha jokes on us!

Nojokur
Nojokur

Not an Ameriblubber, does the far right column indicate how much you have to pay this year?

Spazyfool
Spazyfool

oh my sweet summer child

Raving_Cute
Raving_Cute

I had to pay $30 per semester for my engineering master degree in Norway. But it was worth it, I graduated last summer and now I get ~$50 per hour.

Lunatick
Lunatick

More a case of I'llnevervleave

Garbage Can Lid
Garbage Can Lid

Holy shit that's horrifying

Evilember
Evilember

How does this work, how fucked is this guy?

Also not American

Flameblow
Flameblow

Did you literally just not think at all about what you were doing? How can you accumulate so much debt for nothing? I don't get it.

cum2soon
cum2soon

Leave the country. Abandon debt. And to a certain degree your identity kek

TreeEater
TreeEater

This would never happen because I'm in Canada. It costs about $28k for an arts degree in Canada(over 4 years), and with the new law if your family earns under $50k per year you get $40 - $52k over 4 years to pay the university.
So now you have about $15k left over to do whatever the fuck you want with. If anything you've gotten a free degree and can pretty much do anything with your free neetbucks.
Basic income is also on its way. Life is good.

Carnalpleasure
Carnalpleasure

This person is mega fucked. In order to get out of this they basically need to get a job that's 80-100k starting and live like a total peasant for a decade.

StonedTime
StonedTime

Good thing he majored in Womyn's Art Studies lel

CodeBuns
CodeBuns

this makes me so grateful for the free education, including college, in my country

Fried_Sushi
Fried_Sushi

This is also literally the worst case scenario. I have no idea how this person was even able to accumulate this much debt. I've literally seen doctors and lawyers have substantially lower totals.

Harmless_Venom
Harmless_Venom

not sure if you're the same guy from last thread. Show us your art i want to see it

Evil_kitten
Evil_kitten

imagine if he took the 300k debt without going to school and just invested it without any knowledge, even that would have been a better case for him

hairygrape
hairygrape

Even military is just a prolonging this. Find some kind of loan forgiveness or consolidation...hell even bankruptcy. Depending on your interest rate, which I guess is some shitty plus loan, you won't even be able to cover the interests rates even if you get some kind of steady employment. Take this and tell everyone you meet in life to not get an Art degree at an Ivy League without it basically being free through other means.

Methnerd
Methnerd

Well this is probably Veeky Forums fanfiction as usual, but still it could theoretically happened if you failed a few semesters at an Ivy League with an Art Degree.

SniperGod
SniperGod

Nothing wipes away student loan debt in America.

iluvmen
iluvmen

Kek

underrated post

TreeEater
TreeEater

God wow. That isn't student debt, its a bloody mortgage.

8% interest
25k x8
Art degree

My friends in medical school took out this much and that with international residence payments. Wtf type of degree was yours? It better have taught you to bring your drawings to life otherwise your done.

Fuzzy_Logic
Fuzzy_Logic

He can move to France to join the French Foreign Legion and start a new life there with french citizenship

Ignoramus
Ignoramus

free

taxes 50% for life

free

How are Europoors so delusional ? Do they think education rains down from the sky for free?

Spamalot
Spamalot

holy shit, that interest

idontknow
idontknow

lol

Snarelure
Snarelure

So what happens if he can't pay it? Don't tell me you can go to prison over student loans

Harmless_Venom
Harmless_Venom

Just sell 1 piece of art worth 200k, bingo bongo.

Worse case you work it out where you pay part of your income for the rest of your life, and then when you die it goes to your wife and kids.

Bernie fucking warned us.

takes2long
takes2long

Nah your credit is just shit forever. If they're federal loans the government can withhold any tax refunds and garnish your wages to get those. I don't even know what banks do with their delinquent student loans.

massdebater
massdebater

You'll never pay it.

I have $50k and I'll probably never pay a dime of mine.

The system is set up where you file yearly paperwork on your income. So for you, with $200k in debt I think you would need to be making like $75k a year just to hit the minimum requirement for payment. In all likelihood you will never quality and thus never pay. People like to terrify you that it will destroy your credit, you'll never get a house etc etc etc. They are fuckin Jews who don't get it. If you save up money for a significant portion of the house, the mortgage guy will give you a loan.

But we all need to band together and not pay these shits. Yes of course you are to blame for getting an art degree and yes you are to blame for taking out a massive loan for something worthless. And I am also guilty in my position. But Jesus fucking Christ, you have a whole generation of baby boomers who shoved the college meme down their kids throats "You have to get a degree son! You'll be worthless without it! Pick any degree!" then the Universities tell you it will all pay off, just pick your passion!

It's fucking fraud man. You can't take a naive 18 year old kid, tell him he can study whatever he wants and it will pay, give him any loan he wants, and then later say "oh you knew what you were doing, slave away for live and pay it all back"

kizzmybutt
kizzmybutt

They can garnish your wages at most. The rumors of debtors prison for student loans comes from a few people failing to appear in court for civil cases brought against them.

There are a few options
get into a job that is eligible for loan forgiveness. Get raped by the IRS for ~50k in taxes when they get forgiven
ignore them for a few more years in hopes they get sold off multiple times. Settle for far less than what is owed
live totally off the grid with a cash paying job, prepaid phone, cash accepting landlord, ect
Hop on a plane to SE Asia and never return

Nude_Bikergirl
Nude_Bikergirl

This.
Just wait for them to get sold from debt collector to debt collector until they get to something more reasonable. And say goodbye to any credit you have left.

Garbage Can Lid
Garbage Can Lid

Who can say where the road goes

iluvmen
iluvmen

Most murricans will never survive their stupid school debts. Fucked for life, the whole generation. LoL

Snarelure
Snarelure

This is why you should be able to declare bankruptcy from student loan debt, and why universities should be forced to co-sign on all student debt they use to educate. There is all the insentive in the world for colleges to do this, as they have no need to ensure students are successful after they graduate.

Emberburn
Emberburn

Honestly if I ever fucked up my life THAT badly, I'd just emigrate to china and abandon my debt. Apparently you can make a decent career out of being "token white guy who attends board meetings / hangs out in high-class hotel lobby / generally makes the place look like it's attractive to westerners".

Flameblow
Flameblow

FUCK YOU

defualt on my tax dollars and just leave everyone that was forced by the government to loan you dumb fucks money to get your liberal propaganda degrees

I love seeing you stupid fucks being slaves for life. you deserve it

massdebater
massdebater

Most of them are low interest and should never be paid off

Evilember
Evilember

you wanna talk about being a fucking nigger.

people like this a truly niggers

I'm glad the college meme keeps the stupidest people in our society as the jew's slaves. these people cannot be trusted with money, their brains are too small to understand it.

RumChicken
RumChicken

OP thats why I went with an associates in art instead of a bachelors AND got a trade/certification, AND made damn sure to go for every possible scholarship I could get.

You'd be dumb for not having a back up plan going into art.

What do you do?
1. Check out student loan forgiveness programs, look to get a decent trade in your case.
2. Find room-mates, save as much as you possibly can.by narrowing your expenses.
3. Put most of your money into paying off said debt by doing the trade + art work on the side if you can find any decent gigs.
4. Try being inventive with your art and don't let your time spent on it go to waste; try animating with youtube, video game art for companies, graphic design, theres a lot of opportunities here.

Supergrass
Supergrass

You 'don fucked up, faggot.

Dreamworx
Dreamworx

Government is also garnishing social security income payouts for retirees who have outstanding student loan debt, now. fortune.com/2016/12/20/social-security-checks-garnished/

This country will need to become a full-blown socialist state within 30 years and tax the upper and middle classes into extinction or we will literally have women's studies and art majors hitting retirement age and being forced to live in the streets en masse.

Crazy_Nice
Crazy_Nice

loan forgiveness
it takes 10 years for your loan to be forgiven by the army
suggesting frugality to someone 200k in the hole for an art degree
youre about 6 years and one indulgent, spoiled upbringing too late for that
suggesting that you learned anything about art from a 200k art degree
suggesting that the market for art isnt comprehensively saturated and that unless you work stupidly hard at actually making stuff rather than starting a multi-hundred-thousand-dollar drug joyride through an art program will get you anywhere

Harmless_Venom
Harmless_Venom

mfw people don't realize that the only thing keeping student loan rates at the "low" interest rate of 6.8% is the fact that you can't default on it

If they let people default on student loans you can enjoy your 20% student loan interest rates, assuming they just don't flat out reject any non-STEM major application outright

haveahappyday
haveahappyday

I see more excuses than anything as a reason to not try. Honestly god speed on the recovery user.

Flameblow
Flameblow

have 50k in debt divided between two different loans
can't get job, can barely afford food, technically homeless
ignore the loan attendant
they email me saying I don't have to pay for another 3 months, and it can be renewed indefinitely
haven't heard anything from other loan
???

I don't even know what to pay or to whom. Hey, I asked for help, their faggot fault for hiring a pajeet as customer service who can't answer my questions.

As a side note, can we just raid india, kill every poo, steal their gold (india owns like the most gold of any nation in the world, all private citizens), and use that to pay our loans off? I mean let's get a militia together, I'd be in for that. What are they gonna do, poo on us?

I'm being serious. Through history nations have always generated wealth through conquest. It's what Rome did. And we get pozzed in the 21st and stop that, and now we have multiple financial crises every generation. Seriously, let's just invade india. They're 5'2, 80 lb manlets.

AwesomeTucker
AwesomeTucker

You stole this from /pol/.

Anyway, I'm going to repost my situation.

"Four years ago, I had the opportunity to attend a rather prestigious university, but my parents didn't want to give me their info so I could fill out the FAFSA so I just filled it out with their tax forms as best as I could behind their back. However, for some reason, my information was wrong even though I entered it exactly as it appeared on the forms. I think it had to due with an issue about not connecting to their IRS site, but even then it didn't work. As a result, I got kicked out because I had a financial hold on my account and could not sign up for classes for the next semester.

Is there any way to get a student loan for this? I've finished CC and have worked a few jobs since then, and would really like to go back to school again. My parents have since recognized their mistake and are now willing to take on all the financial burden, but I've applied for loans from places like Wells Fargo and keep getting rejected for some reason I cannot even imagine."

Garbage Can Lid
Garbage Can Lid

Are you the OP? If so were going to need t see your art before we can help you.

Techpill
Techpill

I'm not the OP, sorry.

Emberburn
Emberburn

do fetish porn commissions
earn $50-500 a pop for simple line art
got me though an engineering course, id assume it works better for an art student

ZeroReborn
ZeroReborn

Kneepads and chapstick
Don't sell yourself short Op
20k cocks a year, 10 years. I know you could do it. It's not gay you have no choice. It's survival

Techpill
Techpill

but my parents didn't want to give me their info so I could fill out the FAFSA
Holy shit, I'm having the same problem! What the fuck do I do?

New_Cliche
New_Cliche

I really don't understand what I'm looking at..

Does he just have to pay off 25k? That's not so bad, even with high interest rate.

Or did he take out a loan of the grand total sum of all entries in the third column?

Dreamworx
Dreamworx

Time to get a teaching degree or work in gov. to get those forgiven.

MPmaster
MPmaster

sell myself into slavery by joining the military.

Please don't. The last thing we need is a whining entitled faggot that let himself get 200k debt for a degree that isn't even marketable.

Emberburn
Emberburn

i'm trying to get into as much student debt as possible; only at 45k right now but hoping to go to 200-300k at least

you can defer it forever if you're taking at least 6 credits; betting that in the next 5-10 years student debt will be allowed to be discharged in bankruptcy; worst case is i'll default and they will garnish my wages but who gives a fuck when you own a business

Flameblow
Flameblow

betting that in the next 5-10 years student debt will be allowed to be discharged in bankruptcy

That will never happen.

WebTool
WebTool

could always put it all on credit cards, make minimum payments for a while and declare bankruptcy to wipe it off

there are ways around it

StonedTime
StonedTime

If you want to deal with the aftermath of declaring bankruptcy. It sort of nullifies the only good thing about student loans, which is building up credit.

ZeroReborn
ZeroReborn

7 years and your credit is back to normal; if you take out student loans to a school where the tuition is 10k but you get a 30k loan...you're getting 40k cash back per year

40k/year x 4 years = 160k in your bank account

there are ways to make money off college; most people are too retarded

Lunatick
Lunatick

I am trying to get my elderly parents to listen to me to do this exactly. I think I convinced my mom to finish her degree in Psych then go on to Law School. She'll probably die but can live decently well on the aid. Even if she has to be a lawyer which she'd enjoy anyway she only has to pay minimums.

She is so old probably could scam a rural town judges position.

viagrandad
viagrandad

It sort of nullifies the only good thing about student loans, which is building up credit.
good try shekelstein.

Evilember
Evilember

each row is a different loan

RumChicken
RumChicken

(OP)
This would never happen because I'm in Canada. It costs about $28k for an arts degree in Canada(over 4 years),

Depends on where you are. In NFLD, it's much cheaper than that. In some universities in Ontario, it's more than that.

and with the new law if your family earns under $50k per year you get $40 - $52k over 4 years to pay the university.

The new law only applies to Ontario and it's just grants. You're getting grants equivalent to your tuition. You don't get 40-50k over 4 years, it's just living expenses (which many not be covered by the "free tuition bit meaning you still owe the gov money when you graduate) and tuition.

So now you have about $15k left over to do whatever the fuck you want with. If anything you've gotten a free degree and can pretty much do anything with your free neetbucks.

Again not true.

Basic income is also on its way. Life is good.

Just a pilot. If it fails, no basic income. And this also applies mostly to Ontario.

Jesus get your facts straight before fucking bragging about being a leaf. You're only marginally better than amerifucks.

New_Cliche
New_Cliche

God wow. That isn't student debt, its a bloody mortgage.
Mortgages aren't 8%. I would say OP is fucked but he's really not as fucked as he should be. People who actually pay taxes are the ones who get fucked by that.

Spamalot
Spamalot

can't you file for bankruptcy and basically and go "fuck you"?

Spazyfool
Spazyfool

He has to pay the interest first, which keeps compounding as he slowly struggles to pay off the principle amount off over the next 40 years of his life

Garbage Can Lid
Garbage Can Lid

How much more debt can you incur? Could you get another line of credit?

Evil_kitten
Evil_kitten

I think they have a decent army, since they're constantly on edge having to deal with pakistani terrorpoos all the time.

Not that a decent first world army wouldn't steamroll them, but it would be harder than one would first think.

Your best bet would be to slip some biowar agents into the river, and then raid houses while posing as an aid worker.

Boy_vs_Girl
Boy_vs_Girl

default, let your stupidity and the system that feeds on stupidity of others pay for it

cum2soon
cum2soon

bumping for OP's closed casket case

Playboyize
Playboyize

Move to another country and never pay that debt back.

Lunatick
Lunatick

Default, move to Eastern Europe and change your name.

Fried_Sushi
Fried_Sushi

Declare bankruptcy first and foremost. After that draw the most degenerate pornography you can imagine on the internet for ez dosh and use it to build my credit back up.

idontknow
idontknow

My father always said, you must know some "happy chosen merchant people" to get in to the scene. Since they are in to this kind of business, where they make money out of nothing. He didn't want to have any of "those" friends, he was good painter though.

Techpill
Techpill

i;d go work in a clothing store bc i like clothes. i considered military at one point but i got bored of it.

WebTool
WebTool

I think they will start settling the debts for lump sums. As they should.

Evil_kitten
Evil_kitten

lol

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