Student Loans...at what point do you quit? (girl in 97k worth of debt story)

TX_Made713TX_Made713 Posts: 3,954 ✭✭
edited August 2010 in Strictly Business
http://finance.yahoo.com/college-education/article/109701/placing-the-blame-as-students-are-buried-in-debt?mod=edu-collegeprep

The article is too big to post but heres an excerpt from it.
The balance on Cortney Munna's loans is about $97,000, including all of her federal loans and her private debt from Sallie Mae and Citibank. What are her options for digging out?

Her mother can't help without selling her bed and breakfast, and then she'd have no home. She could take her daughter in, but there aren't good ways for her to earn a living in Alexandria Bay, in upstate New York.

Cortney could move someplace cheaper than her current home city of San Francisco, but she worries about her job prospects, even with her N.Y.U. diploma.

She recently received a raise and now makes $22 an hour working for a photographer. It's the highest salary she's earned since graduating with an interdisciplinary degree in religious and women's studies. After taxes, she takes home about $2,300 a month. Rent runs $750, and the full monthly payments on her student loans would be about $700 if they weren't being deferred, which would not leave a lot left over.

She may finally be earning enough to barely scrape by while still making the payments for the first time since she graduated, at least until interest rates rise and the payments on her loans with variable rates spiral up. And while her job requires her to work nights and weekends sometimes, she probably should find a flexible second job to try to bring in a few extra hundred dollars a month.

Ms. Munna understands this tough love, buck up, buckle-down advice. But she also badly wants to call a do-over on the last decade. "I don't want to spend the rest of my life slaving away to pay for an education I got for four years and would happily give back," she said. "It feels wrong to me."


At what point do you say..."enough?"
«13

Replies

  • Cake4realCake4real Posts: 815
    edited June 2010
    This is scary
  • lord nemesislord nemesis You ain't a pimp, you a fairy Posts: 6,530 ✭✭✭✭✭
    edited June 2010
    Them niggas with them law degrees bout to be in a world of hurt too. I owe bout 20 stacks for my B.A. so I aint complaining
  • young chadyoung chad Posts: 1,771
    edited June 2010
    *shakes fathers hand and thanks him for being wealthy enough to pay out the pocket*

    But seriously, I'm looking at this bishes Majors, and asking WHY she paid 97k...with those majors she might only make 97k in her LIFE TIME, if she ever finds a job period..she took a GINORMOUS L...
  • SoutCitySoutCity Posts: 1,901 ✭✭
    edited June 2010
    She needs to stack up on some more loans if she can and then file for chapter 11..
  • tru_m.a.ctru_m.a.c Posts: 9,072 ✭✭✭✭
    edited June 2010
    TX_Made713 wrote: »


    At what point do you say..."enough?"

    Fuck that...at what point do you say "bitch wtf kinda job did you think you were getting with that major"
  • TX_Made713TX_Made713 Posts: 3,954 ✭✭
    edited June 2010
    MrSoutCity wrote: »
    She needs to stack up on some more loans if she can and then file for chapter 11..



    what happens when you do that?
  • bull6599bull6599 Posts: 6,505 ✭✭✭✭✭
    edited June 2010
    all i know is that while other niggas got their refund checks & ran to the store to buy clothes, Jordans, etc. the 1st thing I did was pay off the interest I've accumulated on my unsubsidized loans
  • TX_Made713TX_Made713 Posts: 3,954 ✭✭
    edited June 2010
    interdisciplinary degree in religious and women's studies.


    lmao @ racking up 97 stacks for this....and then turn around and get a job doing something that has nothing to do with it

    hahahahaaha epic failure
  • young chadyoung chad Posts: 1,771
    edited June 2010
    This bitch took a supercalifragelistic L...

    100k for an INTERDISCIPLINARY degree...bitch didn't even get a bachelors...she got a make-shift degree where she combined different majors and made a specific program up tailored to her..and she did it in Religious and Women's studies...two things that the U.S. doesn't give a FLYING fuck about...in a time where people are graduating from top schools with business and law degree's and not getting jobs, and you choose some shit like that! WOOOWWWW

    Her mother, counselor, peers, and her...should all be slapped
  • bull6599bull6599 Posts: 6,505 ✭✭✭✭✭
    edited June 2010
    TX_Made713 wrote: »
    lmao @ racking up 97 stacks for this....and then turn around and get a job doing something that has nothing to do with it

    hahahahaaha epic failure

    @ the bolded thats a lot of college graduates. aside from a medical degree a lot of ppl end up w/ jobs that are not specific to their degrees. my cuz boyfriend graduated fron UNC-CH w/ a degree in music and this nigga works for Lenovo.
  • tru_m.a.ctru_m.a.c Posts: 9,072 ✭✭✭✭
    edited June 2010
    deadeye wrote: »
    All of you beat me to it.

    Almost $100,000 for some bullshit degree like that???

    shakes_no.gif

    *dead*

    I'm seriously dying over here. Damn I feel sorry for the chick now. roflmao
  • TX_Made713TX_Made713 Posts: 3,954 ✭✭
    edited June 2010
    i just realized what her degree was...smh i was thinking originally maybe she had some type of medical or pharmaceutical thing going on but that? she might as well have just got a liberal arts degree or something
  • young chadyoung chad Posts: 1,771
    edited June 2010
    deadeye wrote: »
    All of you beat me to it.

    Almost $100,000 for some bullshit degree like that???

    shakes_no.gif

    LMFAO...that's EXACTLY how I looked when I read the story....

    I mean I generally feel bad for people who are graduating from college right now, they put all their eggs into the whole "I'm going to get hired when I graduate so I'm going to focus on school and not work a job right now" basket...and reality is hitting them one by one...I know PLENTY of people who just graduated, and are working dead end jobs...

    But dis mu fucka, I don't feel bad for her..hopefully she prospers in the afterlife..cuz she got the shaft in the last 8 years of her life...
  • Dick ShitmanDick Shitman Posts: 9,032 ✭✭✭
    edited June 2010
    tru_m.a.c wrote: »
    Fuck that...at what point do you say "bitch wtf kinda job did you think you were getting with that major"

    lmao

    "but at least she can say she graduated"
  • young chadyoung chad Posts: 1,771
    edited June 2010
    lmao

    "but at least she can say she graduated"

    This reminds me of the skit on Kanye's College Dropout CD lol
  • TX_Made713TX_Made713 Posts: 3,954 ✭✭
    edited June 2010
    lmao

    "but at least she can say she graduated"



    she'd been more successful as a dropout. graduating to poverty which defeats the purpose of college
  • TX_Made713TX_Made713 Posts: 3,954 ✭✭
    edited June 2010
    lmao @ her taking every single class on the enrollment list
    lmao @ that bitch having like 10 degrees worth of classes and settling for that bullshit
    lmao @ 97,000$


    aint no way any degree cost that much to finish
  • MaalikMaalik Posts: 3,627 ✭✭✭✭✭
    edited June 2010
    She's a dumbass...she didnt plan anything out. If you gonna make that kind of investment, you need to research that shit meticously before signing any dotted line.



    1) Plan Your Future
    2) Plan Your Backup Future
    3) Plan Your Backup's Backup Future
    4) Paying $100,000 for a prestigious undergraduate degree is stupid. Go to a State School. As long as you do well, you'll end up with 88% of the same opportunities.
    5) A Valedictorian from University of Iowa with High MCATs will go to a "Top Medical School" just as easy as a Valedictorian from Princeton.
    6) I Went to State School. Had $23,000 in Loans. Already paid half of it back through summer jobs & side hustles.
    7) Graduate this year. Applying to Law School
    8) Black Male with Good Grades = T14 (Hopefully T6) with Generous Aid or Scholarship
    9) T14 = L.A.R.P. Program
    10) L.A.R.P. Program = Safety Net



    Stop Being Stupid. You're Playing with your Future.
  • MaalikMaalik Posts: 3,627 ✭✭✭✭✭
    edited June 2010
    deadeye wrote: »
    All of you beat me to it.

    Almost $100,000 for some bullshit degree like that???

    shakes_no.gif

    Anyone who goes to NYU is dumb.

    It's widely known how foul their Financial Aid is.

    They barely give any money to students & Tuition is 50 Stacks.

    Its ranked in the low 30s. Besides Stern & Tisch, itz ass.

    If you wanted to spend that much money & enjoy NYC, you shouldve aimed for Columbia University.
  • Cake4realCake4real Posts: 815
    edited June 2010
    I wonder did she think to apply for any scholarships.
  • tru_m.a.ctru_m.a.c Posts: 9,072 ✭✭✭✭
    edited June 2010
    Cake4real wrote: »
    I wonder did she think to apply for any scholarships.

    I highly doubt she was smart enough to do that seeing as she majored in religion and expected a well paying job
  • ccluvsauccluvsau Posts: 1,852 ✭✭
    edited June 2010
    How is that possible?

    What school did she go to???????????

    Is that undergrad AND grad?!?!?!?!?!?!?!?!?!?
  • young chadyoung chad Posts: 1,771
    edited June 2010
    ccluvsau wrote: »
    How is that possible?

    What school did she go to???????????

    Is that undergrad AND grad?!?!?!?!?!?!?!?!?!?

    NYU which is like 50k a semester, and it was only Undergrad ....smdh
  • ccluvsauccluvsau Posts: 1,852 ✭✭
    edited June 2010
    young chad wrote: »
    NYU which is like 50k a semester, and it was only Undergrad ....smdh

    Fuck .
  • young chadyoung chad Posts: 1,771
    edited June 2010
    ccluvsau wrote: »
    Fuck .

    yea but did you see that bish major tho? lmao
«13
Sign In or Register to comment.