Student loan debt

1. Earn a 3.5+ GPA while completing an associate's degree at community college. Graduate in two years with an actual credential and transfer to a reputable four-year institution that has some kind of transfer compact agreement in place with your CC. You will likely be able to go a state university at a deep discount or even full ride.

2. Even better: get a full-time job at a college that offers employees (and their dependents) free tuition. I was hired as a campus police officer with an associate's degree and completed my bachelor's at my employing institution while working the overnight shift. It added up to about $60,000 in free classes over a two-year period. I'm not saying this is necessarily a good idea for everybody, but it's insane that more people don't consider it. Working a shit job at a college beats working a shit job at a company that doesn't allow you the opportunity to pursue your education for free.

3. Read up on CLEP exams and test out of everything you can. I CLEP'ed out of intro to western civ, which I'm pretty sure the average person could pass without studying at all. Great for saving money and time.

>Elon Musk
So... are we literally going to Mars with ETH?

That's what I'm doing right now. Most of my loans are federal and in my dad's name so I struck a deal with him. We ignore paying the loans and the worst that could happen is 15% wage garnishment (in which I pay him back and is much lower than the current monthly loan payments) and bad credit but he doesn't give a shit about his credit.

Are you in the US? If yes, did you take private loans or Government? Are your loans subsidized interest, or no?

If you're loans are above 6 percent, and were unsubsidized, pay that shit off as soon as you can. If they were subbed and it's lower, you can take some time.

Focus on finding a decent job in your field of study. That 10 grand would be better spent paying for you to relocate to a better job.

Retard
Okay
Student Debt is objectively bad, idiot
Retard
Stupid Idea, who wants to pay interest AT ALL for the rest of their life?
Australia is completely different then the US in this, out interest rates are between 3.4-6.8%
Student debt isn't like other debt. It NEVER goes away, even after 50 years, even if you declare bankruptcy
Little late for that
Retard
If they are from the government then it's a parent plus loan and in both your names - it's Impossible to get a student loan in someone else's name. For fucks sake, people can't be this retarded? Both your wages will be garnished, credit will be ruined, you'll never see a tax return in your life, and you will be ineligible for any public assistance.

JUST PAY YOUR FUCKING LOANS, IT ISN'T THAT HARD. ITS INTEREST WORKING AGAINST YOU - THAT MEANS IT'S A LIABILITY. THE BEST WAY TO BECOME RICH IS TO REDUCE LIABILITIES AND INCREASE ASSETS. WHY THE FUCK DO I EVEN BOTHER TRYING TO HELP YOU POOR PEOPLE WHEN YOU SO OBVIOUSLY ENJOY YOUR POVERTY??

No it's not dumb fuck. The parent plus loan is only in the parents name. There may be a cosigner though. And I could pay it off if I wanted to. But fuck the jew government

Holy fuck. Enjoy a literal wage slave life when the government forces all people with outstanding debt to sell all assets and report to a FEEMA camp.

>he doesn't live off credit cards while funneling all his money into student loans then declare bankruptcy to wipe away cc debt
What is this about unable to wipe student loan debt

You'd still be paying off student loans, just in a roundabout way.

No, you're the dumb fuck. Read the fucking loan terms of you don't believe me. You and your father had a retarded idea. Deal with it.

> Have sick dying parent
> Have them get tons of parent plus loans
> Dies
> No one has to repay and I get free college
This is why parent plus loan ALSO INCLUDE THE COLLEGE STUDENT. ALWAYS. Fucking idiot.

Here you go dumbass

studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/death

Bankruptcy doesn't free you from student loans

Pay your debt off as quickly as is reasonable. You need however much you need for relocation for your new career plus at least 3 months expenses. Don't but a brand new car or anything stupid. Spend all your remaining money on paying it off. You should be spending all your time focused on your career anyways to get ahead of the other new hires. Lessen liabilities, increase assets.

Pay your debts is just a stupid advice. If you have a low rate loan (a typical government sponsored loan like in europe the student loans) then let it eat itself.

If you have an option to pay 1000 montly loan with virtually zero interest then your better option is to invest and let the inflation kill it.

Same would go with auto loans. If you can get a loan for auto with 0% then take the loan, dont tie your cash

BUY THE RUMOR SELL THE NEWS
YOU STUPID FUCKS.

The fact you already know this means it has ALREADY received the pump from this understand that????

What the fuck do you mean "let it eat itself"

Why do people even go to college. It's the biggest scam in the west rn. Unless you're a doctor or lawyer that piece of paper means fuckall

Underage b&

Don't pay off your debt
Bernie is gonna run again in 2020 and get it all forgiven kek

If you can make investments that gain more annually than your student loans, then you should only pay the minimum payments.

This is generally if you got those sweet 3.5% interest rates.

Depends.
What are your interest rates?
Can you refinance it?
Have you consolidated your loans yet?
Do you have a job?
Where is the $10k coming from?
Why are you considering paying that down now?

>college without debt
Go to a local public (i.e. state-funded) university as an in-state resident. Most land-grant universities are actually pretty cheap for in-state students. If you can't get into the school, it's because you don't deserve to go to college, so don't pine about wouldashouldacoulda, go get yourself a trade.

Bankruptcy only frees you from private, non-educational debt.

Defaulting on student debt is a stupid idea.

Need some serious advice.

I have $66k in debt. Collectors are hounding me. I only graduated in May. I only just now secured a job that's paying $5300/month as a data scientist. (I'm outside of the US, so my wages are much lower than average until I go back).

I also have about $2000 in medical bills to pay (health insurance doesn't cover, thanks Obama). My family declared bankruptcy for unrelated reasons while I was in school, but financial aid never got adjusted. Our family savings is about $300-- my parents are just going to have to hold on until social security kicks in.

What do I do? Should I just continue to ignore the collectors and then just throw all of the money at once?

You can try to negotiate the debt.

How does that work? As far as I know, refinancing makes you end up paying more

If the collector has no strict policies, you need to throw the ball back at them. "Look, let's make a deal. I have 40k right here right now. I can't get more, that's all I can pay. What do you say?" If you succeed, you save 26k.

The correct answer is:

figure out how much interest you will end up paying over the term of the loan.

If it is too high, increase your payments to the point where you can still afford to do so. just don't sacrifice your emergency fund for this.

If knocking off 10k is better than investing the 10k over the same length of time and doesn't wipe out your emergency fund then it wouldn't be a bad idea.

Depends on the interest rate. Put your money to use in the best way possible. My student debt is ~3.8% so I'm not paying it off at all.

I never understood, can't I just take out a personal unsecured loan for 30k~ pay off my student loans then file bankruptcy?
Right now my credit score is 790~ so I think I could.

I'm a millennial I don't have a car or a house.

How is this not a bannable post? He's advertising for something he clearly owns. It violates the rules.

Fuck off you fucking loser. I'm glad your shit coins are losing value

It could be the difference between you and someone else getting that six figure job. Or your resume getting filtered out by any serious company.

>inb4 "i'm an entrepoooner"

Because you'll have to take risk on those investments. A loan is essentially a guaranteed loss for a risky gain. If you're making 10% taxable gainz (good luck btw) in the stock market and have a 6% non deductible loss, then you're essentially netting (assuming 15% long term gain tax) 8.5% - 6% = 2.5% marginal gain for being in the market. That sounds pretty retarded when investors typically demand much more for even conservative stocks. I didn't even consider fees. That's $2500 a year on a 100k loan with the assumptions above. A paltry sum in the grand scheme of things given the risk borne and the debt still lingering. If the loan is smaller or the net gainz fail to exceed the net loss on the loans, then you're worse off. With the 10k that OP is suggesting, the marginal potential gain is miniscule. Just pay the fucking loan off

Sure you can avoid taxes on your gainz via a ROTH, but then you're limiting the liquidity of the funds and thus making them ineligible for payment on the loan which adds risk.