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      10-15-2019, 12:35 PM   #116

Drives: 2013 135i
Join Date: Feb 2014
Location: DC

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Originally Posted by Flacht3 View Post
For the record, this is one thing I I don't disagree on

Also getting back on track to this thread, in general I agree that people (overall) make terrible financial decisions. The average car loan length of 69 months is telling of that. And when those same people complain about lack of home affordability etc. I don't feel any pity.

But there is also a subset of the population that is simply priced out, drowning in student loans, and living in areas of the country where they could save every penny and still be out-of-luck until they consider moving elsewhere.
Student loans are not as big an anchor as many make them out to be if you are smart about how much you take out and what you're paying it towards in terms of your education.

I graduated in 92 with $25k in student loan debt....which is a pretty high sum for that time period. I didn't have a career job when I graduated with the recession going at the time. What I did was to understand the loan terms I signed up for. Not sure if things have changed for subsidized student loans but there is a stipulation where principle payments and any interest is deferred while you're still enrolled at least half/part time in college. I used this rule to its fullest until I was able to get myself in a financial situation to pay on the student loans. The way the system works is you get a 6 months grace period after your last semester. If you enroll again for classes with at least a total of 6 credits, the clock resets and you're in your deferment period again. When you complete that semester, you again have 6 months to begin paying or re-enrolling in classes.

I did this for a few years taking a bunch of different IT/programming classes at my local community college where the cost per credit hour was very cheap. I'd be very surprised if this rule was removed from subsidized student loans.

I bought myself enough time where I was able to get my career established, save up some money, get my debt load down, be in the position to pay on my student loans, and buy my first place. Granted I had help from my parents as I was able to live at home. But I lost out on the tax write off for paying on my student loans as I made too much.
Originally Posted by Lups View Post
We might not be in an agreement on Trump, but I'll be the first penis chaser here to say I'll rather take it up in the ass than to argue with you on this.