Americans owe more on their student loans than on their credit cards

Also, here's a fun little image

 

I have to make a big payment on mine tonight.

 

i think i have like 17 grand in student loans?

but they are subsidized so i don't pay interest until i stop going to school. and all the money is in the bank collecting interest

i have 0 credit card debt.

americans in general are stupid about credit cards though.

 

I'm amazed how many students still to this day think they are going to have a better chance for a job than those who don't go to college.

Unless you study medicine, law, or computer engineering you are wasting your time.

Study law for your own protection in words. In the mean time buy guns.

 

the student loan company seems to have stopped sending me bills. i can only assume they decided to do me a favor and pay my shit off for me.

 

Mine stopped trying to contact me too, mine was only $4,000 though, so I'm low on the chain.

But really at least one good thing that came out of the past 2 years was the restructuring of the student loan industry and at least getting rid of the useless private middle man companies when it came to federal loans.

 

Im not suprised. Many of the students I talk to, get loans. Here our loans are up to 12k, they may exceed depending on the program, but we dont pay any interest until we grad and 6 months have passed, then the interest collects. There are ways, of lowering it by 1-4k depend how big your debt is. This is why I think school is such a waste, espically for "Im just seeing what I like" So, good luck liking all that debt in the future. I never took out loans for my school. I paid out semester by semester and never had a problem. But my program is as useless as arts and crafts.

 

The savings that are achieved by the middle man will likely be more than offset by tuition increases.... which will most likely remain and in place built on after the banking biz gets rederegulated and middlemen are permitted back in for their percentage of the federal money.

 

I owe 24,000 and I have yet to make a payment... luckily they just keep giving me a deferment so at least I am not gaining interest. I am still super happy that I went to school though even if I don't make a bunch of money.

I never expected to make much money, so that is not the reason I went to school.

 

Student loans, loans in general, and credit terrify me.

 

I vow to never EVER pay back my student loans.

 

Same.
I had a credit card for about a couple months once. I was told that I needed at least one in order to built credit, but I don't like the idea of credit so I would only use it very sparingly, like to get gas or something.

I remember when I got my first bill in the mail. The minute I got it, I went online to their website and paid it because I didn't want to forget about it and incur a late fee.
Instead, I incurred a "$30 electronic payment fee".
Yeah, in the year 2008, they were charging people $30 fees to instantly pay their bill online.
Then when I called them to ask about it, they charged me another $15 for speaking to a customer representative.

I shredded the card and haven't had another one since, they're all crooks, fuck 'em.

 

completely related (and awesome) music video:
https://www.youtube.com/watch?v=xtIM_TEQxwA"]YouTube - The Beast That Swallows Its Young

 

This is great. I got my loan through Sallie Mae, just as that man in the video did. However, I have never made a payment, ever. And when I signed those documents promising to pay the loan back after I finished school, I had no real intention of doing so.

I don't get calls or letters though. I've changed my number and addy like 500 times.

 

much that debt is created with the Diploma Mill Schools, like advertised on late night tv.. most the people that attended them schools become disappointing with the curriculum and drop out in the first few months..
creating an instant $4000.00+ debt and growing with interest.. Its partly a scam that preys on the under education, unemployed.. Giving them high hopes and expectations for employment when there is very little to none..

 

Yeah. Debt sux

 

Getting a student loan is slowly and grostequely evolving into the worst decision of my life. If I don't start playing ball they're going to start fucking with my co signer (dad). Fucking bastards.

 

The country (more like the world) will soon enough is going to depend on intangible goods, such as credit cards. Where the economy is going, that looks like the best bet to get as much as you can before you can screw it up or be forgiven like free houses these days.

 

The vast majority of people already depend on credit today.
When they aren't using it to get by between pay checks, they are using it to pay for disgustingly inflated tuition prices and expensive housing.
Everything is run on debt, and it allows people in certain positions to make money without having to lift a finger.