Definitely Not A Cop said:

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Teslag said:

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SLRP is earned simply by signing a 6 year contract if offered and remaining in good standing for those 6 years. That's literally the only requirement to earn it. It's a signing bonus, nothing more nothing less.

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What does SLRP stand for?

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Student Loan Repayment Program. It's an enlistment/re-enlistment bonus program for soldiers agreeing to a 6 year contract for critical or hard to fill low strength MOS. It's just a carrot to get people to extend. However most soldiers with TA or gi bill won't have student loans. So they make it extremely easy to cash in with minimal redemption requirements.

Stat Monitor Repairman said:

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How is this even possible? 300k?


One of the biggest financial lies that everyone hears is that going in debt will help you. You hear it with student loans, cars, houses, etc. when are people going to stop believing the lie?

I have been saving since my kids were born $150 a month for each of them knowing this would be an issue and they will graduate debt free, all three of them. I realized this was an an issue before I went to A&M and went into the army for two years and got the gi bill and graduated debt free. While in high school my buddies would come home and exclaim how much money there parents were spending to send them to college and how much loans they would have to take out.

Some had degrees in finance and some in history and English. Those in history and English are probably still paying them off and this is 30 years later.

Universities need to educate people on career paths for each degree and provide people with averages of what people will make coming out of college. I get that the university makes plenty of money on the bull**** degrees but this is an injustice to the "graduate" of that degree and frankly in my mind a stain on the university that puts money over the persons future. Then that same university goes and asks that alumni for money later on to support the endowment. Geez. That person just got robbed by the very university that gave them the degree.

Edit to say:
Also when they do graduate they can take the low paying job that gives them more experience or gets them into the job market at all instead of having to wait for the high paying job to come along to fit their budget.

My son took out $500k+ to attend four years of dental school at a private institution. He graduates next month and landed a starting job just under $200k with production incentives to go beyond it. He'll have the earnings power to pay it off over time, but he'll have to manage other elements of his budget more thoughtfully to make room for that monster note.

Why he went to a private school is another matter. Let's just say that DEI's ugly head was very apparent in the student selection process for state schools.

MemphisAg1 said:

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My son took out $500k+ to attend four years of dental school at a private institution. He graduates next month and landed a starting job just under $200k with production incentives to go beyond it. He'll have the earnings power to pay it off over time, but he'll have to manage other elements of his budget more thoughtfully to make room for that monster note.

Why he went to a private school is another matter. Let's just say that DEI's ugly head was very apparent in the student selection process for state schools.

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Damn I thought my wife's $130k for an MD was bad.

I don't feel like $125k now goes any farther than $60k in 2000 and in some cases it feels like less. Good luck to him.

whoop1995 said:

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Stat Monitor Repairman said:

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How is this even possible? 300k?


One of the biggest financial lies that everyone hears is that going in debt will help you. You hear it with student loans, cars, houses, etc. when are people going to stop believing the lie?

I have been saving since my kids were born $150 a month for each of them knowing this would be an issue and they will graduate debt free, all three of them. I realized this was an an issue before I went to A&M and went into the army for two years and got the gi bill and graduated debt free. While in high school my buddies would come home and exclaim how much money there parents were spending to send them to college and how much loans they would have to take out.

Some had degrees in finance and some in history and English. Those in history and English are probably still paying them off and this is 30 years later.

Universities need to educate people on career paths for each degree and provide people with averages of what people will make coming out of college. I get that the university makes plenty of money on the bull**** degrees but this is an injustice to the "graduate" of that degree and frankly in my mind a stain on the university that puts money over the persons future. Then that same university goes and asks that alumni for money later on to support the endowment. Geez. That person just got robbed by the very university that gave them the degree.

Edit to say:
Also when they do graduate they can take the low paying job that gives them more experience or gets them into the job market at all and have to wait for the high paying job to come along.

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I've been saying since computers were common place that they need to create a financial simulation for all HS freshman and seniors to take as a class


Give them all.the options, be an engineer or dance major, save in HS and work in college or take on debt, how much depends on how much they work. Buy a new sports car or not, have 1 roommate or 3...etc. Let it play out all the way thru 80 years old

Stat Monitor Repairman said:

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I voted for this.

It is tough for young people to get started. It was when I came of age, and in many ways it's gotten tougher since then. You can do it if you develop the capability to land a good income stream, but it comes with sacrifice and investment, no doubt.

It's a big part of what boils my blood when libs say that the "rich" (anybody making more than them) don't pay their fair share of taxes. The overwhelming majority of people making good money don't get there until their 40's, 50's, or even 60's, and they worked their butt off and sacrificed to get there.

People just need to be smart about how much they borrow and their ability to pay it off. A social worker has no business borrowing $200k or more. A medical professional, engineer, or business major can probably swing it, but even that's not a guarantee. Have to be very focused on the investment and return.

MemphisAg1 said:

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It is tough for young people to get started. It was when I came of age, and in many ways it's gotten tougher since then. You can do it if you develop the capability to land a good income stream, but it comes with sacrifice and investment, no doubt.

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For sure. And it seems that many today don't want to sacrifice to attain a good lifestyle.

My dad came from nothing and my parents sacrificed a lot early on to amass what they wanted in life. I have no respect for people who expect handouts.

MemphisAg1 said:

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My son took out $500k+ to attend four years of dental school at a private institution. He graduates next month and landed a starting job just under $200k with production incentives to go beyond it. He'll have the earnings power to pay it off over time, but he'll have to manage other elements of his budget more thoughtfully to make room for that monster note.

Why he went to a private school is another matter. Let's just say that DEI's ugly head was very apparent in the student selection process for state schools.

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He had a plan and goals and stuck to it. If you have a plan that is good that is half the battle. If something comes along to help you with your plan great(loan forgiveness) great, but it doesn't sound like this was part of the plan.

I know people who have said it doesn't matter what university my kid goes to in order to be a teacher and besides the federal government will forgive the loans. This was part of their overall plan. That plan has changed and the kid is only a freshmen. They don't have any money and the kid is going to some private school in Arkansas.

I think your son sounds responsible enough to reach his goals and meet his obligations. Most people are not and quite the reverse as the example above. Good luck to him!

MemphisAg1 said:

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My son took out $500k+ to attend four years of dental school at a private institution. He graduates next month and landed a starting job just under $200k with production incentives to go beyond it. He'll have the earnings power to pay it off over time, but he'll have to manage other elements of his budget more thoughtfully to make room for that monster note.

Why he went to a private school is another matter. Let's just say that DEI's ugly head was very apparent in the student selection process for state schools.

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Lot of my coresidents have similar debts. One guy is in 450k, he's a pgy4 in diagnostic radiology, planning on doing a neuroradiology fellowship, then another year of interventional neuroradiology- total of 7 years of training with debt compounding. Now the interventional neurorads make a ton of money, locums around 7-12k a day.

Unless you're entering a very high paid specialty (In medicine a ROAD+surgical subspecialty), I would not take out more than 150k for professional school loans

Stat Monitor Repairman said:

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Bloody hell. I thought that was a meme.

She had nearly $250K (!!) left to pay off. But if you want to borrow that amount for a mortgage you have to show some creditworthiness.

It's dumb to take on that much debt. It's also dumb for the financial institutions to issue that much debt.

Anna Molly said:

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Stat Monitor Repairman said:

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Bloody hell. I thought that was a meme.

She had nearly $250K (!!) left to pay off. But if you want to borrow that amount for a mortgage you have to show some creditworthiness.

It's dumb to take on that much debt. It's also dumb for the financial institutions to issue that much debt.

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The lender of these loans is the Department of Education. That's why education is so damn expensive and there are so many worthless degree programs available.

While private lenders exist, they only offer supplemental loans.

Stat Monitor Repairman said:

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https://www.nbcchicago.com/news/business/money-report/35-year-old-was-29-months-away-from-getting-her-247804-student-debt-forgiven-now-shes-stuck/3711876/

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Bertram, a staff attorney at Wild Montana, a nonprofit that works on land conservation in the state, had just around 2 years left of payments before her $247,804 federal student loan balance would be excused under the Public Service Loan Forgiveness program.

But for many months now, she's been frozen on her timeline to that relief.

"We're not getting credit," said Bertram, 35. "This time has been devastating."

Bertram took out her loans in law school knowing that she'd work in public service and pursue PSLF.

"That was the only way taking on this debt made any sense," Bertram said.

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The only way it made any sense? That should have been a ****ing clue.

Quote:

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Aubrey grew up in Denver, Colorado, and earned a B.S. at the University of Wyoming in biology and statistics. As a community organizer for a small environmental nonprofit in southwest Wyoming after graduating, she caught the bug for public lands policy and community engagement in the West. She traveled to Australia, Vietnam, Cambodia, Thailand, India, and Sri Lanka before earning a JD and a Masters of Law in environmental law and sustainable development at the University of Denver. Aubrey joined Wild Montana in 2018 to celebrate and protect Montana's great wide open spaces. She lives in Butte with her two dogs and two cats.

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Close to $300,000 in debt to land a job that I bet pays $75,000 a year. And she looks to spend all her time fighting oil and gas pipelines. And we the taxpayers were supposed to subsidize her on all this bull*****

And the money she spent travelling to Australia, Vietnam, Cambodia, Thailand, India and Sri Lanka she could have spent on law school instead. Or more realistically that was all part of her student loan.

nothing infuriates me more

than seeing some Marxist female take out $300,000 in loans EXPECTING

that the American taxpayer (really the debt mavens from China) will take care of her so that she can enter into a non-paying leftist legal aid position.

literally the Deep State as the Deep State. leftist policy forces private banks to give up the student loan business

obama forces the USG to take over the student loan business

this causes universities to raise their tuition prices, and to be able to afford hiring hundreds of thousands of additional leftists.

then more leftists take out loans for loans they know they can and will never repay back.

then enter into academia. rinse and repeat!

Quote:

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It's dumb to take on that much debt. It's also dumb for the financial institutions to issue that much debt.

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Hussein took over student loans. For the left, that did a couple of things:

It allowed the government to drive up the cost of education so they could pay huge salaries to leftist professors and universities that would end up being laundered back to democrats, buying votes in the process.

It allowed them to enslave people in debt.

It allowed a stick and carrot approach to reward students who become leftist activists through USAID NGOs (employment and activism) and through debt forgiveness targeted at their people.

It is just one more way The Party serves itself and NOT the American people.

What amazes me is why most if not all degree programs are 120 hours with only 20-40 of those hours. Being specific to the skill set of the degree. I can understand for engineering have more math, but some of the required liberal arts requirements and electives are not useful to the degree.

Anna Molly said:

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Stat Monitor Repairman said:

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Bloody hell. I thought that was a meme.

She had nearly $250K (!!) left to pay off. But if you want to borrow that amount for a mortgage you have to show some creditworthiness.

It's dumb to take on that much debt. It's also dumb for the financial institutions to issue that much debt.

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As I understand, it can't be discharged in bankruptcy right? Or is that only government loans?

Navarro Jr College cost me about $400 per semester back in the day. 60 credits for $2000!

Just get born to wealthy parents and grandparents. Lazy freeloaders.

Anna Molly said:

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Stat Monitor Repairman said:

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Bloody hell. I thought that was a meme.

She had nearly $250K (!!) left to pay off. But if you want to borrow that amount for a mortgage you have to show some creditworthiness.

It's dumb to take on that much debt. It's also dumb for the financial institutions to issue that much debt.

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You do NOT understand how student college loan lending works!

Obama took the PRIVATE banks out of the student loan lending business back in 2012.

for more than a decade it is the Department of Education and Stafford and Pell giving out the money to students

which was done so that a decade later, the "government" could FORGIVE these loans to buy votes of the leftists.

They're all govt loans for the most part. The only business investment loan im aware of that can't be discharged in bankruptcy.