LISTEN n LEARN asked:


http://www.forgivestudentloandebt.com/

Personally I think it is outrageous. These college grads are more sheep at the trough looking for a Obama handout. They claim that if they do not have to pay back their loan debt it will allow them to pay more into the economy. Yeah…pay more into the economy so they can buy themselves new cars, houses, TVs…. A stimulus is supposed to create jobs while at the same time improving our country. And on top of that, why should our government pay for someone’s degree (at the expense of taxpayers) when that person can use that degree to gain employment that others can’t ! ?

I first heard about this because the person renting my condo is 75,000 dollars in debt (architecture degree) and is paying as much on their debt as they do on their rent (for 10 years). He makes considerably less than I do and I never went to college but did an electrical apprenticeship instead. He started telling me how Obama should forgive his debt so that he can afford to buy a house and save for retirement. What a joke. He is more than willing to flash his degree around whenever possible, but the truth is that degree has left him with a considerable deficit.

I do think most colleges are an overly expensive “academic certificate” that generally teach low-value skills. We need to start pushing towards more vocational training and apprenticeships supplemented with a few college courses.

Credit Card Debt Reduction

Bond007 asked:


Ok , maybe I should ask this question in a little different manner …..

I am leaving this country, I have not bought the tickets yet or told my manager about this yet. I want to leave this country for at least next 5 years.

Why ? well because I want to do something different in life. I want to become a hindu priest for which you have to take about 4 to 5 years of training and live a simple life away from all these cars, pleasures and stuff.

my question is – how and what should I do to get rid of my student loans – as they are the only reason I won’t be able to do what i want to do so badly. and yes I have a co-signer (he also is willing to leave the country for me) – i have about 60k of loans.

LAST BUT NO LEAST, I may come back to US after my training but its not 100% decided yet.

Please give me some good advice considering this is a very different special case !!!!! Thank You.

Consolidate Credit Cards

Jon asked:


I haven’t been able to pay on anything for about 9 months so my credit plummeted. However I did pay on time for 8 years straight before I lost my job and couldn’t pay for those 9 months. Now I have a new job and I will be grossing about $28,000. Should I declare bankruptcy to get rid of my $25,000 credit card debt and then try to build my credit back up by paying my student loans on time (I am still in the grace period on them right now)? Or should I try to pay the $25,000. Which would be better or my credit in the long term? I’m still young (mid-20′s) so I wouldn’t be looking to get a mortgage or anything for 10 years or so anyway.

College Student Credit Card Debt

LISTEN n LEARN asked:


http://www.forgivestudentloandebt.com/

Personally I think it is outrageous. These college grads are more sheep at the trough looking for a Obama handout. They claim that if they do not have to pay back their loan debt it will allow them to pay more into the economy. Yeah…pay more into the economy so they can buy themselves new cars, houses, TVs…. A stimulus is supposed to create jobs while at the same time improving our country. And on top of that, why should our government pay for someone’s degree (at the expense of taxpayers) when that person can use that degree to gain employment that others can’t ! ?

I first heard about this because the person renting my condo is 75,000 dollars in debt (architecture degree) and is paying as much on their debt as they do on their rent (for 10 years). He makes considerably less than I do and I never went to college but did an electrical apprenticeship instead. He started telling me how Obama should forgive his debt so that he can afford to buy a house and save for retirement. What a joke. He is more than willing to flash his degree around whenever possible, but the truth is that degree has left him with a considerable deficit.

I do think most colleges are an overly expensive “academic certificate” that generally teach low-value skills. We need to start pushing towards more vocational training (I know liberals **** that because it would mean less people will be “liberal educated”). But its the truth.
“Don’t be jealous that somebody got more benefits than you did.”

Wait a second. More benefits than me? I could have gone to college. Instead I enrolled in a union apprenticeship and have NEVER been in debt in my life. My retirement has been building up since I was 18, I have “cadillac” health-care, own several pieces of investment property, and max out my ROTH IRA every year. All because I avoided the “benefits” of college.

Bad Credit Debt Consolidation

“elo!” asked:


(Deleted question due to hacked link – After full scan, I am resubmitting question)
My family member was hit head-on by drunk driver (in 1978). Complications of frontal lobe brain injury have developed into bipolard disorder and severe mental impairment (SMI). All these years he has tried to stay employed, but he cannot keep jobs any longer. Frontal lobe brain injury affected his ability to concentrate and understand social behavior, etc. In 1982, impulsively, he took out student loans, could not cope with school demands and dropped out. The family did not know (until now) he had taken out student loans from some For-Profit-School (loan sharks if you ask me took advantage cause his injury is very obvious). He became homeless in 1994, and just ignored the student loans. He moved to another state, and was able to find odd jobs all these years. With aging, the effects of his injury made it impossible for him to handle working any longer. He lost his last job 2 years ago because of behavior issues. He was advised via medical/psych care to apply for disability. All of the sudden, Dept of Education calls him wanting $75 per month to repay loans (why did they not contact him before when he was working!!!!). He wants to repay, but even if he gets disability it will be @ poverty level.

Can he still apply for discharge. Also, I could not find information about Income Contingent Plan in the student aid website.

School Loans Consolidation