If nothing else, interest and late fees on student loan debt should be dischargeable through bankruptcy process. I imagine a good number of borrowers would likely already have the principal on their loans paid off if they weren’t saddled with interest and penalties spread over several years due to their inability to pay off in lump sums early in their careers. U.S. gov’t should get out of the student loan business, as well.
Well sure. I mean I would have my principal on my house and car already paid off if I was not saddled with interest and penalties spread over several years.
I would agree generally with the principal that the U.S. gov’t should get out of the student loan business. However be careful that the ramifications will be for people who will not otherwise get student loans unless imbued with certain policy preferences.
Yes, we see this all the time in this day and age. Its called forbearance and various forms of deferment and when you max them out, everything accrues interest. EVERYTHING!
I used my deferments, until I realized that figured out what compounding interest was. Thats when I stepped it up and paif them off. Luckily, my interest rates (after my consolidation) were only 2.5%. Today, its untenable.
4:13 PM, no offense but it sounds like you went to a scam school like Thomas Jefferson or Thomas Cooley. I picked my law school primarily based on the sticker price. This was the correct decision.
Your clarification illustrates your own faults. 15 years ago you could have consolidated for a much lower interest rate. Your either exaggerating, outright lying, incredibly bad at finances or just really dumb.
@4:13
That is $144k. 15 years ago I don’t think any school anywhere charged that much, even allowing for interest. If I did the PV calculation right, at 6% simple, that would have put tuition at about $22,000/yr for 3 years. Working the other direction, a $66k tuition loan fully amortized of 15 years at 6% would have a payment of $557/mo and be fully paid off by now.
Still owe $81k.
Idiot, that’s because you only paid the minimum payments. Why is that anybody’s fault other than your own? No different than making minimum payments on a credit card.
There’s been 0% interest on student loans for 5 years. I have zero empathy for anyone blaming interest rates for their current balances or otherwise using rates as their excuse not to pay.
Sorry, 2 years of no interest. Still, no excuse. The student loan pause did nothing other than to reveal not wanting to repay student loans was never about the interest rate and always about not wanting to pay at all
Maybe because people realize the cost of education and what it gets you in the United Scam of America is ridiculous. This is a manufactured problem that doesn’t have to exist.
In the 1980’s, I attended a good quality state university law school where tuition was around $1500 per year. Now, in my dottage, I like to sit around and complain about youngsters who are having trouble paying off six-figure loan balances. State universities used to be reasonably affordable for everyone, until the powers that be got the idea that they could get away with charging way more for professional schools like law and medicine. I benefitted from large taxpayer subsidies, essentially, and so I have no effing business complaining about those who came after and do not enjoy that benefit.
My private (bottom of the) top tier law school in the mid-90s was only $16k/yr. My rate was 2% once I consolidated. I count myself lucky, but back then they actually taught us some things and made us work for it.
I am decidedly and proudly Gen X, and don’t give a shit about your complete inability to do math (law school mid 90s) or your attempt at clever backhanded snark.
I am guessing that you approach the practice with the same diligence. May you narrowly avoid the attention of our fair bar counsel.
You said, “In the 1980’s, I attended a good quality state university law school…”
I did the math. If you started law school in 1985, you were approximately 22 years old, born in 1963. Baby Boomer. But maybe you started in 1989 and were born in 1967, which technically would make you Gen X. But only technically, because in spirit you are 100% Boomer.
Anyway, “your complete inability to do math (law school mid 90s)” LOL. May Hooge never audit your trust account, one can only imagine the horrors and messes he would find.
Student loans are hardly comparable to car loans, credit cards, etc. What 17-18 year old has creditworthiness to take out tens of thousands of dollars in loans? Reminds me of the subprime mortgages that were handed out haphazardly in the 2000s. Irresponsible borrowing can often be the result of irresponsible lending. In that regard, student loans issued by gov’t are a complete racket. It is unfortunate that our BK laws don’t offer the same protections & relief to this class of debtors. I’m not interested in lecturing people I don’t know about personal responsibility, especially when I don’t know their story. Plus, wealthy people & corporations in this country get handouts all the time.
Uh, you were not 17 or 18 when you went to law school. In fact you were in the top tier of all college grads, and after the first year you knew enough to know you were signing a contract for your loans. Sorry, excuses, excuses.
But I agree that a serious problem is the lack of lender oversight on the reasonableness of tuition and the comparative value dollar for dollar with other law schools.
7:39 here, and I am not 8:49 or whatever. My only point is that as one who paid about $5k for six semesters of tuition, and bought a 2k sq.ft. Home in a nice neighborhood for $150k a few years later (on a $50-60k or so salary that felt like a fortune), I have no business lecturing those who were not so fortunate. Fin.
It looks like the Commission on Judicial Discipline is going to try and keep Fiore off the bench. Based on my very shallow understanding of the applicable law, I don’t see how they can (although I wish they could). Even by Nevada (and Nye County) standards, it would be a national embarrassment for that thief to return to the bench. She should be grateful that she escaped justice and accountability.
This is a fun game. When convenient, Michele Fiore gets to say “FUCK YOU, LAW!” while at the same time invoking the law to her benefit when it suits her. Awesome sauce!
There currently exists a vacancy for the Pahrump Justice of the Peace, Department B. Any person interested in filling this vacancy must be a qualified elector and resident of Pahrump. The appointment will be for an unexpired term ending January 2027.
Cinco de Mayo, a great excuse to drink. Or, as the Irish call it, “Monday.”
I’m looking to hire an associate for WFH part time. Any ideas where to even look for someone like that?
I can’t imagine a worse gig. But maybe there’s a stay at home parent who would like that.
Wow. You don’t have much imagination.
WFH? What is?
Work From Home
I Googled it too.
“What defaulted Nevada borrowers should know as student loan collections resume today”
Pay your debt, dead beat.
Debt jubilee!
If nothing else, interest and late fees on student loan debt should be dischargeable through bankruptcy process. I imagine a good number of borrowers would likely already have the principal on their loans paid off if they weren’t saddled with interest and penalties spread over several years due to their inability to pay off in lump sums early in their careers. U.S. gov’t should get out of the student loan business, as well.
Well sure. I mean I would have my principal on my house and car already paid off if I was not saddled with interest and penalties spread over several years.
I would agree generally with the principal that the U.S. gov’t should get out of the student loan business. However be careful that the ramifications will be for people who will not otherwise get student loans unless imbued with certain policy preferences.
I borrowed $50K. I’ve paid back $151K – $130 interest and $21K in principal. I still owe $81K.
This is amazing to me. How is this possible? You should probably talk to a financial planner/advisor to lead to better decisions.
Yes, we see this all the time in this day and age. Its called forbearance and various forms of deferment and when you max them out, everything accrues interest. EVERYTHING!
I used my deferments, until I realized that figured out what compounding interest was. Thats when I stepped it up and paif them off. Luckily, my interest rates (after my consolidation) were only 2.5%. Today, its untenable.
The Rule of 72 can be your best friend or your worst enemy. The choice is yours
1:28 here. I’ve been paying $800/mo EVERY MONTH for 15 years. Including the last 5 years when payments were “deferred”.
4:13 PM, no offense but it sounds like you went to a scam school like Thomas Jefferson or Thomas Cooley. I picked my law school primarily based on the sticker price. This was the correct decision.
Your clarification illustrates your own faults. 15 years ago you could have consolidated for a much lower interest rate. Your either exaggerating, outright lying, incredibly bad at finances or just really dumb.
*you’re
@4:13
That is $144k. 15 years ago I don’t think any school anywhere charged that much, even allowing for interest. If I did the PV calculation right, at 6% simple, that would have put tuition at about $22,000/yr for 3 years. Working the other direction, a $66k tuition loan fully amortized of 15 years at 6% would have a payment of $557/mo and be fully paid off by now.
Still owe $81k.
Idiot, that’s because you only paid the minimum payments. Why is that anybody’s fault other than your own? No different than making minimum payments on a credit card.
How many years did you not make payments (not including the freebies you got during COVID)?
There’s been 0% interest on student loans for 5 years. I have zero empathy for anyone blaming interest rates for their current balances or otherwise using rates as their excuse not to pay.
Sorry, 2 years of no interest. Still, no excuse. The student loan pause did nothing other than to reveal not wanting to repay student loans was never about the interest rate and always about not wanting to pay at all
Maybe because people realize the cost of education and what it gets you in the United Scam of America is ridiculous. This is a manufactured problem that doesn’t have to exist.
Ya’ know, they don’t add those penalties if ya’ just take care of your shit and pay on time.
Oh, and that interest stuff? Yeah, that was speeled out on the Promissory Note when you signed it.
In the 1980’s, I attended a good quality state university law school where tuition was around $1500 per year. Now, in my dottage, I like to sit around and complain about youngsters who are having trouble paying off six-figure loan balances. State universities used to be reasonably affordable for everyone, until the powers that be got the idea that they could get away with charging way more for professional schools like law and medicine. I benefitted from large taxpayer subsidies, essentially, and so I have no effing business complaining about those who came after and do not enjoy that benefit.
My private (bottom of the) top tier law school in the mid-90s was only $16k/yr. My rate was 2% once I consolidated. I count myself lucky, but back then they actually taught us some things and made us work for it.
7:39 AM, You are an unusually self-aware Baby Boomer. I salute you.
Sorry kiddo.
I am decidedly and proudly Gen X, and don’t give a shit about your complete inability to do math (law school mid 90s) or your attempt at clever backhanded snark.
I am guessing that you approach the practice with the same diligence. May you narrowly avoid the attention of our fair bar counsel.
Thanks for proving my point.
I’m not 7:39 and I do appreciate your original comment, but you did say 1980’s.
Hey Pops (7:39/8:49 AM),
You said, “In the 1980’s, I attended a good quality state university law school…”
I did the math. If you started law school in 1985, you were approximately 22 years old, born in 1963. Baby Boomer. But maybe you started in 1989 and were born in 1967, which technically would make you Gen X. But only technically, because in spirit you are 100% Boomer.
Anyway, “your complete inability to do math (law school mid 90s)” LOL. May Hooge never audit your trust account, one can only imagine the horrors and messes he would find.
With Love,
8:43 AM.
Apologies. I am the Gen X’r that responded at 743/849.
I forgive you. Go, and sin no more.
Fat chance, sis.
Student loans are hardly comparable to car loans, credit cards, etc. What 17-18 year old has creditworthiness to take out tens of thousands of dollars in loans? Reminds me of the subprime mortgages that were handed out haphazardly in the 2000s. Irresponsible borrowing can often be the result of irresponsible lending. In that regard, student loans issued by gov’t are a complete racket. It is unfortunate that our BK laws don’t offer the same protections & relief to this class of debtors. I’m not interested in lecturing people I don’t know about personal responsibility, especially when I don’t know their story. Plus, wealthy people & corporations in this country get handouts all the time.
Uh, you were not 17 or 18 when you went to law school. In fact you were in the top tier of all college grads, and after the first year you knew enough to know you were signing a contract for your loans. Sorry, excuses, excuses.
But I agree that a serious problem is the lack of lender oversight on the reasonableness of tuition and the comparative value dollar for dollar with other law schools.
Not all student loans are for law school. Lot of really petty comments, all around.
What is the point in being this intentionally obtuse? You know most people don’t pay for undergrad with cash, right?
If you’re gonna lick boots, why so passionately over this? How would that improve your life in any way
Nah man, they want everyone else to suffer so that they can take advantage of it. Textbook
7:39 here, and I am not 8:49 or whatever. My only point is that as one who paid about $5k for six semesters of tuition, and bought a 2k sq.ft. Home in a nice neighborhood for $150k a few years later (on a $50-60k or so salary that felt like a fortune), I have no business lecturing those who were not so fortunate. Fin.
849 here. I am with you, good sir.
https://www.reviewjournal.com/news/politics-and-government/nevada/trump-has-pardoned-michele-fiore-authorities-may-still-keep-her-from-being-a-judge-3367469/?utm_campaign=widget&utm_medium=section_row&utm_source=homepage&utm_term=Trump%20has%20pardoned%20Michele%20Fiore.%20Authorities%20may%20still%20keep%20her%20from%20being%20a%20judge.
It looks like the Commission on Judicial Discipline is going to try and keep Fiore off the bench. Based on my very shallow understanding of the applicable law, I don’t see how they can (although I wish they could). Even by Nevada (and Nye County) standards, it would be a national embarrassment for that thief to return to the bench. She should be grateful that she escaped justice and accountability.
Fiore said in a text that she had “absolutely no clue” why the discipline body might be pursuing a new suspension.
LOL
No conviction, no reason to deny her. Period.
A pardon doesn’t erase a conviction. Period.
No conviction.
Federal Convictions are NOT final until sentencing is complete.
Look it up.
If there is no conviction, then why does she need a pardon? Take your time.
She needed the pardon to avoid a conviction.
“No conviction, no reason to deny her. Period.”
This is a fun game. When convenient, Michele Fiore gets to say “FUCK YOU, LAW!” while at the same time invoking the law to her benefit when it suits her. Awesome sauce!
I’m sorry you feel that way.
But the law is the law and the law doesn’t give a shit how you feel about it.
Thanks Michele.
🤣
I did not say one word in support of her. Just calling it objectively.
But its very clear to us all who you voted for 6 months ago.
“But the law is the law and the law doesn’t give a shit how you feel about it.”*
*Unless you steal money and then obtain a presidential pardon from Donald Trump.
Cry harder, sis.
Thanks Michele.
You will address me as “Your Honor,” sis.
Wait–you exploited fallen police officers to pay for plastic surgery and our daughter’s wedding? You should be proud!!!
your
oh god, sis guy is back.
YES SIS, CRY HARDER HUNTY! PRRRRRRRRRR OH! THIS IS WHAT I WANNA SEE! KEEP CRYING MISS GIRL! SISSY THAT WALK ALL THE WAY TO THE BANK SIS 💅
Ummmm. OK.
Calm down, sis.
“absolutely no clue”
Well, that might be a reason in and of itself.
Do you have to live in Nye County to be a JP there? Does Fiore live in Nye County?
Yes and yes.
NOTICE OF VACANCY
PAHRUMP JUSTICE OF THE PEACE
There currently exists a vacancy for the Pahrump Justice of the Peace, Department B. Any person interested in filling this vacancy must be a qualified elector and resident of Pahrump. The appointment will be for an unexpired term ending January 2027.
My goodness she’s entertaining.
She’s neither humbled nor shamed.
This is really informative material!