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Old April 10th, 2013, 10:47 AM   #21
mschaffer66
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Originally Posted by DuffMan View Post
Cliff's Notes:

"A friend borrowed $200K to go to college and now wants to know how to skip out since it'll take a lot of money to repay those loans".

There was a time in our history where nobody with any common sense would actually speak that out loud. But now, in our world of everybody gets a trophy for showing up, businesses that fail due to taking ill-advised risks get no-strings bailouts, and idiots who bought more house than they can afford get their mortgages "adjusted", it's perfectly reasonable.

We're doomed.
B I N G O

...and Bingo was his name-o.

I don't feel as though I've gotten my money's worth out of my degree. How do I get my debts washed away? Fuck this working for shit and paying off what I've rightfully incurred. I'm ready to hop up on the wagon like dogface's friend while all of you suckers pull us along.

While we are on this topic how do you ditch your house and not pay for it? I'm tired of paying for that too.

Car loans, can I just give them back and have the debt forgiven? I'm tired of those as well.
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Old April 10th, 2013, 10:50 AM   #22
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Marrying a trust fund baby is a pretty good way to erase your student loan debt. Worked well for me!
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Old April 10th, 2013, 10:50 AM   #23
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depending upon the area you pick to live/work, starting out on 60k with cost of living and 160+ in college debt would be no lube rough.
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Old April 10th, 2013, 10:51 AM   #24
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Originally Posted by mschaffer66 View Post
B I N G O

...and Bingo was his name-o.

I don't feel as though I've gotten my money's worth out of my degree. How do I get my debts washed away? Fuck this working for shit and paying off what I've rightfully incurred. I'm ready to hop up on the wagon like dogface's friend while all of you suckers pull us along.

While we are on this topic how do you ditch your house and not pay for it? I'm tired of paying for that too.

Car loans, can I just give them back and have the debt forgiven? I'm tired of those as well.
cough cough kerry cough cough


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Old April 10th, 2013, 10:51 AM   #25
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Originally Posted by deerebowtie View Post
depending upon the area you pick to live/work, starting out on 60k with cost of living and 160+ in college debt would be no lube rough.
that is your fault, not the fault of the institution that loaned you the money.
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Old April 10th, 2013, 11:10 AM   #26
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Originally Posted by Rob the plumber View Post
I'm glad I nevir wint to collige.
Me Neeather budy!

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Originally Posted by whiterhino View Post
Don't make promises you don't intend to keep. Man up and PAY THE FUCKING BILL!!!!!
EXACTLY! So many people don't want to work for what they want anymore. Everyone wants handouts, no one wants to work hard or pay money they vouched for. Credit score is EVERYTHING these days.

I also see people on pirate saying the same thing.
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Old April 10th, 2013, 11:10 AM   #27
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Once I graduate from college I will have right around $140k in student loans. I am a double major is Aviation Flight Science and Aviation Maintenance Technology at Western. 90% of my loans are through Wells Fargo with an interest rate between 11% and 8ish%. When I graduate I will be a flight instructor making $18/hr working 25-30hrs a week if I am lucky. Once I build up my hours I will be working for a regional airline making about $24k a year starting out, with minimal increases is wage for several years till I make it to a captain position. It won't be till about 10-15 years down the road that I am able to make 100k + per year.
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Old April 10th, 2013, 11:12 AM   #28
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Originally Posted by dogface View Post
Has anyone had any experience reducing or removing the burden of a MASSIVE student loan debt?

My friend has $200K + in loan debt as high as 9%, yes really. Buy the tiem thay are paid off, they will be ready to retire having paid over $450K in total.

Since the federal loans have been consolidated once, they cannot be consolidated again.

Bankruptcy does not forgive student loan debt.

What other options do they have?

Itís almost not worth it to work when you are giving over ĺ of your paycheck back to the gov/loan payments.
Your friend is most likely a fucktard I hope he pays back his debt as agreed upon.
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Old April 10th, 2013, 11:17 AM   #29
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Originally Posted by hondadirtracer View Post
Once I graduate from college I will have right around $140k in student loans. I am a double major is Aviation Flight Science and Aviation Maintenance Technology at Western. 90% of my loans are through Wells Fargo with an interest rate between 11% and 8ish%. When I graduate I will be a flight instructor making $18/hr working 25-30hrs a week if I am lucky. Once I build up my hours I will be working for a regional airline making about $24k a year starting out, with minimal increases is wage for several years till I make it to a captain position. It won't be till about 10-15 years down the road that I am able to make 100k + per year.
Thats IF you can make Captain for an airline!

This is why I decided to stop trying to be a pilot and switched to Engineering.

I do really miss flying though
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Old April 10th, 2013, 11:20 AM   #30
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Originally Posted by silveradoboy View Post
Thats IF you can make Captain for an airline!

This is why I decided to stop trying to be a pilot and switched to Engineering.

I do really miss flying though
I seem to recall another reason why you couldn't go any further
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Old April 10th, 2013, 11:20 AM   #31
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Quote:
Originally Posted by hondadirtracer View Post
Once I graduate from college I will have right around $140k in student loans. I am a double major is Aviation Flight Science and Aviation Maintenance Technology at Western. 90% of my loans are through Wells Fargo with an interest rate between 11% and 8ish%. When I graduate I will be a flight instructor making $18/hr working 25-30hrs a week if I am lucky. Once I build up my hours I will be working for a regional airline making about $24k a year starting out, with minimal increases is wage for several years till I make it to a captain position. It won't be till about 10-15 years down the road that I am able to make 100k + per year.
why the hell did you not do ROTC/Officer Candidate in the Air Force?

a very good friend of mine tried going the private route like you through embry riddle in Daytona - goal was dual training as well - but pilot and avionics officer.

He backed out after a year and found it cheaper to get two Bachelor's from UofM in engineering. And even though he loves to fly, after talking to several commercial airline pilots had the realization that he really wanted to be a family man, home every night raising his kids and sleeping with his wife.

not sitting in an airport or hotel lounge/bar eating with the co-pilot and tempted to mess around with the flight crews (after a 15 year grind flying red-eye freight for <$30k/year)
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Old April 10th, 2013, 11:21 AM   #32
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depending upon the area you pick to live/work, starting out on 60k with cost of living and 160+ in college debt would be no lube rough.
really?

Where the fukc is an entry level job making $60k rough?

Let's just throw some numbers out there.

Rent $1000
Student loans $1000
Food $200
Car $450 (insurance and car)
Gas, electric, incidentals $500
$3150/month * 12 months = $37,800 left over.

Here I am, a home owner, feeding a family of 4, with 2 brand new cars, an electric bill, gas bill, etc. and my bills are no where near $3150 a month.

If a single kid out of college making 60k can't afford to pay his student loans he needs to take a long hard look in the mirror.

On the other hand deerbowtie should take a long hard look at not opening his retardedass mouth.
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Old April 10th, 2013, 11:22 AM   #33
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oh, as for the original post. theoretically he could find some bankruptcy friendly country to move to and become a citizen of.

I wouldn't recommend the mideast - most still have debtor's prisons...
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Old April 10th, 2013, 11:22 AM   #34
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Beware of where you put your signature? A cup of bleach might help him forget about it.
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Old April 10th, 2013, 11:23 AM   #35
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Originally Posted by hondadirtracer View Post
Once I graduate from college I will have right around $140k in student loans. I am a double major is Aviation Flight Science and Aviation Maintenance Technology at Western. 90% of my loans are through Wells Fargo with an interest rate between 11% and 8ish%. When I graduate I will be a flight instructor making $18/hr working 25-30hrs a week if I am lucky. Once I build up my hours I will be working for a regional airline making about $24k a year starting out, with minimal increases is wage for several years till I make it to a captain position. It won't be till about 10-15 years down the road that I am able to make 100k + per year.
Not sure if post is meant to make feel sorry, or to point out you'll figure it out?

FYI, spending $140k to make $18/hr isn't very good business sense.
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Old April 10th, 2013, 11:25 AM   #36
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Originally Posted by kickstand View Post
really?

Where the fukc is an entry level job making $60k rough?

Let's just throw some numbers out there.

Rent $1000
Student loans $1000
Food $200
Car $450 (insurance and car)
Gas, electric, incidentals $500
$3150/month * 12 months = $37,800 left over.

Here I am, a home owner, feeding a family of 4, with 2 brand new cars, an electric bill, gas bill, etc. and my bills are no where near $3150 a month.

If a single kid out of college making 60k can't afford to pay his student loans he needs to take a long hard look in the mirror.

On the other hand deerbowtie should take a long hard look at not opening his retardedass mouth.
you forgot about uncle sam though. But agreed, 60K can pay the bills
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Old April 10th, 2013, 11:25 AM   #37
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FYI, spending $140k to make $18/hr isn't very good business sense.
atleast he didn't pay $140K to have a history or arts degree
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Old April 10th, 2013, 11:27 AM   #38
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Maybe he's one of those people that went to Kettering to get a business degree...
My thoughts exactly bahaha
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Old April 10th, 2013, 11:29 AM   #39
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you forgot about uncle sam though. But agreed, 60K can pay the bills


I made a math error, or explanation error.

It's $37,800 in bills per year. So you actually have 22k left over. or 2 grand a month to spend on whatever.

But who pays $1,000 towards their loans each month anyway?

So, lets say uncle same takes 25%, it gets a bit tighter, but you don't need the $450 car payment each month, you also probably aren't spending $1000 a month on the loans.

Now get married and cut most of those bills in half, or at least down by a small amount and life isn't so bad
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Old April 10th, 2013, 11:30 AM   #40
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atleast he didn't pay $140K to have a history or arts degree
well there's that, and there is also the fact that I think he is looking at the pessimistic side of his industry. A friend of mine has a younger brother who graduated from Wester with an aviation degree and he lives a pretty comfortable life in chicago working as an airline pilot having started off with some shitty companies and gained experience and worked his way up to a pretty decent job.

He's 30ish, not sure what kind of money he is pulling down, but I don't think he is having any struggles.
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