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Discussion Starter · #1 ·
My wife got it and now owes nothing. We had always paid on time. The weird thing
is she just got a check for $3600 for "Loan Forgiveness refund?" I figure f-it, all the
money they've been taking from us our whole lives we'll take it and put it towards
paying off her Jeep! As soon as the fed refund comes in, her Jeep and some credit
cards will be wiped clean! I kinda feel like an *** for taking the money, but it's a drop
in the bucket compared to what we've paid in taxes over the years!
 

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Don't worry about it, you're making the right choice in getting out of debt, because the country is headed for some rough times.

The Federal government is currently at a level of debt that would force any smaller country into default. We're the only country that can get away with having this much government debt, but it also means that we're in uncharted territory. Sooner or later the chinese communist party is going to force us into default, probably during the next republican administration.

This upcoming default will cause a deeper economic recession than the last two were. And we won't be able to soften the impact of the next recession with borrowed money.

That's why Manchin sensibly opposes new spending. Since the current level of spending is unsustainable. We won't be able to borrow our way out of the next recession, so default will force 50% spending cuts across the board, including social security and medicare.

The entitlement state has never lived through a recession without borrowed money. This will be like nothing we've ever experienced before.

On the subject of new experiences, the chinese communist party's bioweapons lab in Wuhan is performing gain-of-function research on viruses that have 50% lethality, compared with covid 1984's less-than-1% lethality. Since the country and the world totally freaked out over ccp-flu, we're currently not emotionally prepared for any real emergency.
 
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My wife got it and now owes nothing. We had always paid on time. The weird thing
is she just got a check for $3600 for "Loan Forgiveness refund?" I figure f-it, all the
money they've been taking from us our whole lives we'll take it and put it towards
paying off her Jeep! As soon as the fed refund comes in, her Jeep and some credit
cards will be wiped clean! I kinda feel like an *** for taking the money, but it's a drop
in the bucket compared to what we've paid in taxes over the years!
Well, to be fair, my wifey and I always stay out of debt. We try to pay cash for everything and/or pay the cards the first month. So since we play by the rules, I think you should give me half! It's only fair! 😝
 

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you did the right thing cashing the 'refund'.

My 2¢ the easy fast student loan program was a subsidiary of "higher education" .

Just look at the degrees that were awarded, the salary in those fields, NO BANK would lend you 40K for training as an art history major, et al - yes many had a chance to get a college education but to what end...... Seams the liberal thinking was easily passed on.
 

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Is it just me equality is not enough the movement is toward. equiity.

Example - I am granted VA loan privilege's to help with home purchases.
I have to defend The WHY do you get that, not fair - I should also get that also ....
 

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Discussion Starter · #6 ·
Well, to be fair, my wifey and I always stay out of debt. We try to pay cash for everything and/or pay the cards the first month. So since we play by the rules, I think you should give me half! It's only fair! 😝
We try to do the same thing. I have 1 credit card I use that gets hit with monthly
charges, such as storage unit, DJ pool for downloading songs, etc. I pay it off
before it's due every month. Only other debt I have is the house, the boat, my
TrailHawk. (Both through a credit union low interest) I also got us a couple of
gas cards that will be paid off every month, and that's because we save 0.10
cents on every gallon! (0.30 cents a gallon for the first 2 months) We played
by the rules, and didn't ask for the student loan forgiveness. :cool:
 

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I digress-

I remember life before everything was CREDIT - the days before 3 easy payments - I learned SAVINGS got it.

I was brought up Houses on credit, and the begining of financing a NEW car that was all -

discussing the cons of credit cards... and todays reality, I am getting old.
 

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Discussion Starter · #8 ·
Most all my DJ gigs go in to savings, plus having credit cards builds good credit as
long as you keep them paid off. I have 12 cards in all, right now they carry a zero
balance. Just paid off the Lowes for the washer and dryer, and paid 0% in finance
charges. Trick is to pay them off in time before the interest kicks in. That and pay
the others off, gas cards, etc. every month. :cool:
 

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You are the exception, Have you checked credit score another mystery to me....
 

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Discussion Starter · #10 ·
Yeah, 770 still waiting on the wife's Jeep to fall off and the $600 on the Lowes.
Paid off, just hasn't dropped off yet. Goal is over 800 for my credit score....
Credit score helped a lot when we refinanced the house last year. Got it down
to $800 a month including escrow. Apartments here are starting at $1600 a month!
 

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Bad news, paying off a car loan actually reduces your credit score. The original balance of the car loan is treated as "available credit," so paying it off actually increases your ratio of credit utilized vs credit available. It's like the system's rigged against traditional values.
 
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pay off early your a bad credit investment...
pay off late your a bad credit risk....
gotta love it.
Does this come under catch 22
 

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The government should have never got into the college loan business in the first place. Two of my nieces went to medical school and paid as they went..... one is a pharmacist and the other a nurse practitioner. The children/whiners/karen's that are claiming that everyone should pay for THEIR schooling cause they majored in left-handed basket weaving or simply want someone else to pay .....should have to pay double.
If you signed the loan papers..... You F'n pay for it !!!!!
 

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We use 1 credit card religiously for everything and pay it off every month and pay no interest and in return we get points for hotel stays..... over a hundred FREE nites (easily) in the last 15yrs
 

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Discussion Starter · #16 ·
The government should have never got into the college loan business in the first place. Two of my nieces went to medical school and paid as they went..... one is a pharmacist and the other a nurse practitioner. The children/whiners/karen's that are claiming that everyone should pay for THEIR schooling cause they majored in left-handed basket weaving or simply want someone else to pay .....should have to pay double.
If you signed the loan papers..... You F'n pay for it !!!!!
Yup, we were paying her student loans then they up and disappeared.
Also, she is an RNBSN makes pretty good money, so never missed
a payment.
 

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The money for REAL and useful career's I can see but - the collages should have a stake in this loan, you want urban society or fashion merchandising degree the college should adjust the cost to what it will pay..
BUT no it was a handout to colleges and an attempt at equity.
Truly I am a curmudgeon
 

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As long as the 'forgiveness' comes out of the payment of interest over the term of the loan, I have no problem with it, but if it starts getting 'borrowed' from other funds/increases taxes, then screw that. As for the 'cost' of higher education, if the colleges and universities didn't have to create a club med type atmosphere to attract students the cost wouldn't be nearly what it is. Students have gotten into the mindset of going for the experience and not the education. Due to this the smaller affordable schools are going belly up trying to compete with the larger schools and the retention rate is dropping for return students due to the cost and academic ability. When you spend more money to get the student on campus and needing them to stay for at least 3 years to recoup the recruitment cost and they leave in 2, it raises the costs across the board for those that do stay.
 
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