Student loans.... HOLY CRAP OH NO!!

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  • JOEJOEJOE
    JOEJOEJOE Posts: 10,829
    edited February 2011
    financial institutions "selling" debt instruments is worldwide. Many mortgage companies issue mortgages simply to make money on the fees, and then wholesale a bunch of them at the same time.

    Government bonds, corporate bonds, student loans, structured settlements, mortgages....everything moves around.
    Post edited by JOEJOEJOE on
  • The Juggler
    The Juggler Posts: 49,598
    stargirl69 wrote:
    That is utterly outrageous ... there must be somewhere you can go to get help ... how is it possible for a company to "sell" a loan to another company ... is this the American system? Or I am just naive?


    naive.

    :lol:
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  • stargirl69
    stargirl69 Posts: 6,387
    The Juggler wrote:
    stargirl69 wrote:
    That is utterly outrageous ... there must be somewhere you can go to get help ... how is it possible for a company to "sell" a loan to another company ... is this the American system? Or I am just naive?


    naive.

    :lol:


    Thank you Yoda !
    “There should be a place where only the things you want to happen, happen”
  • justam
    justam Posts: 21,415
    What in the world did you study that you thought $200,000 was an acceptable amount of loans to get?
    :geek:
    &&&&&&&&&&&&&&
  • JOEJOEJOE
    JOEJOEJOE Posts: 10,829
    justam wrote:
    What in the world did you study that you thought $200,000 was an acceptable amount of loans to get?
    :geek:

    Hopefully "Debt Avoidance" !!


    student loans are not dischargable through bankruptcy.
  • tinkerbell
    tinkerbell New Zealand Posts: 2,161
    stargirl69 wrote:
    The Juggler wrote:
    stargirl69 wrote:
    That is utterly outrageous ... there must be somewhere you can go to get help ... how is it possible for a company to "sell" a loan to another company ... is this the American system? Or I am just naive?


    naive.

    :lol:


    Thank you Yoda !

    You're not naive, your just not American. This doesn't happen all over the world, well definitely not here anyway. Mortgages are all done through banks with insurance systems in place with our government, and our student loans are done through our Inland Revenue (tax department) with no interest charged unless you leave the country.
    all you need is love, love is all you need
  • stargirl69
    stargirl69 Posts: 6,387
    tinkerbell wrote:

    You're not naive, your just not American. This doesn't happen all over the world, well definitely not here anyway. Mortgages are all done through banks with insurance systems in place with our government, and our student loans are done through our Inland Revenue (tax department) with no interest charged unless you leave the country.

    Yep pretty much system here too Tinks :D
    “There should be a place where only the things you want to happen, happen”
  • haffajappa
    haffajappa British Columbia Posts: 5,955
    ZiggyStar wrote:
    $200,000?? Wtf?

    I did a commerce degree at uni and owe about $20,000. What degree did you do? Is that how much education costs in the States?
    International students pay like 10 x more than we other students do at uni (which is still a lot)
    And apparently, its STILL cheaper for US Students to study here rather than south of the border :shock:
    live pearl jam is best pearl jam
  • PJ_Lukin
    PJ_Lukin Posts: 2,055
    ZiggyStar wrote:
    $200,000?? Wtf?

    I did a commerce degree at uni and owe about $20,000. What degree did you do? Is that how much education costs in the States?

    34K tuition, 16K room and board, 2-3K misc. expenses....per year. Welcome to NYC University expenses.
    ~!~ Peace ~!~ Love ~!~ Pearl Jam ~!~
  • number1PJfan
    number1PJfan Posts: 3,748
    I racked up about 38K for 8 years of college--5 years of undecided and then 3 more when I finally decided what in the hell I could do to get out of the godforsaken place. I have been paying for 13 years now and my balance is still upwards of 23K. I don't think I will ever see the end. Those three degrees I got out of it don't really amount to a hill of beans in the field of education. They give me no bargaining power. Everybody gets paid the same on the pay scale. It's based on experience and level of education, and that is that, no room for wiggle.
  • _
    _ Posts: 6,657
    $200,000 is about on par for medical school. I have more than a couple of friends with over $300,000 in student loans - and that's not counting the extra consumer debt they incurred to cover the rest of their expenses in med school, residency, & maybe fellowships. (Yes, you can be a doctor for many years before making a good salary.)

    I have four words for you: National Health Service Corps. They've recently sweetened their pot, particularly for primary care providers. Of course that doesn't help you come up with $40,000 in 2 days, but I'm sure that will all work out in the end. Good luck!
  • Wilds
    Wilds Posts: 4,329
    http://www.youtube.com/watch?v=rks-Cr3Fr_k

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