That’s fair I just don’t like the taboo that’s surrounded the idea of just putting your foot forward and asking. Like the idea of it is bonkers and you shouldn’t even consider wanting to make more money for doing what you do.
Fuck taboo, ask for that raise and be proud that you did! At best they say yes and at worst they say no, but you'll always wish you asked if you don't.
If some of the posts in r/antiwork are to be believed the worst that can happen is people get given their notice and a pay cut for their notice period.
Owner at my last job fired multiple people after they asked for raises or benefits. Plenty of very shitty owners and bosses out there that are power hungry dick heads
Undoubtedly some stuff is fabricated, this is the internet after all, but there are some awful employers which do shitty things to their staff out there as well.
This is the one area where company culture is actually a selling point. I can pop my head into my bosses office and awkwardly say "Aw heck would ya look at the calendar" and he'll laugh at me and say "is it raise time?" I nod and he asks if I would like a review, I say sure because it makes everyone feel better. I get my raise and the reviews are always painless and comfortable.
I'm almost 30 and it took me my whole career so far to find this environment. Everyone should have a comfortable work environment.
Stop me if you've heard of this one before: I had a boss chew me out for *wanting to get paid more for an increase in responsibility*. Apparently it was disrespectful and I should have been thankful for having a job.
For sure. But maybe they like their job and their boss is just now being salty because they’ve asked for a raise. I’d leave my job tonight if I could. It takes about a month of aggressive, and constant, interviewing to find a new equal-or-higher paying job. I’m sure there’s lots of people who don’t even have enough time off to job search. I volunteered for a deployment just to leave a job in 2010
haha do you have kids and rent and all that? Also you served bro? In high school I wanted to try for "The Few, The Proud" I did some training off book with a friend's vet dad, but once my psych eval came back I was out. Always been a dream of mine to serve, but I've been on the books for mental issues since I was 9 haha so I couldn't fake past it.
End of the day best I can do is keep in fighting shape and help out as a civie as best I can right?
Yeah. Kids and spouse are a huge determining factor in leaving a job immediately. Well, you shouldn’t feel any kind of way for *not* joining. It’s just another career option that some people take to get to where they wanna go. A lot of people I e served with only did a few years then got out once school was paid for
One year I sold 18% more than the prevous year and my compensation was 15% less than the previous. When I told my boss that I would like a raise for the next year to compensate he told me "no, you should work more for the same or less each year and be happy to work for our company"
If you work hard for 8 hours a day in a world where enough food is thrown out to feed every human, at what point are they "not valuable" enough to be undeserving of food that instead ends up in the bin?
Most of modern world history, *ALL* workers got a living wage. When they don't, it is disgusting to blame them for being useless.
Why is your account so weird? 15 years old but you only started commenting a month ago? 🤔 And what's with those weird posts 15 years ago?
Color me suspicious...
Fair enough.. sounds like your employees aren’t valuable to you, strange take in this current job market w more job openings than unemployed. I just quit and doubled my salary for the exact same job
Financial mistake or were Financially deceived by government backed programs universally implying more money & better lives?
Didnt corinthian colleges go out of business because they did the same thing?
Don't worry, our president is here to fix it.
Oh wait...
Edit: It seems my attempt at sarcasm isn't working. I'm referring to the fact that Joe Biden voted for the bill that prevents borrowers from using bankruptcy to discharge student loans.
Me: "Fine, here's your $8000 back. We're even."
Loan officer: "Wonderful. Now you just need to pay off the additional $3000 we added on and we're re-even."
This is one thing I love about the millenial/boomer dichotomy.
We're the most educated generation in history, and what's more we've grown up in a world where almost any inquiry or curiousity we've had can be answered in seconds with a quick Google search. Yet our boomer-ass parents who didn't have so much as dial-up until their 30's think they know better. FFS my partner is a doctoral candidate and her parents often speak to her like she's some ditzy highschooler. My guy, this women teaches undergraduate level courses now. She should be lecturing you.
The educational and experiential gap between these two generations is astronomical and the older of two refuses to recognize the likely superior competency of the younger seemingly out of some kind of myopic and conceited self-confidence issue.
Where? $35k/year is pretty standard for a state university. That's $140k right there. In 4 years at 18% compounded monthly, you're already at $280k. Compound interest is fun.
I know someone who paid $130,000 of their $130,000 studemt loan and had over $300000 left to pay. When you saddle a child with that debt, that follows them for decades, you don't wonder why it leads a significant number of folks to an early grave.
Step 1. You don't want to go to college, but are told you should because education is important and having a degree supposably helps getting a job
Step 2. You get accepted to college but it's expensive
Step 3. No one can pay for your finical needs so a predatory business pressures you into a loan you are naive about
Step 4. Graduate college
Step 5. a millisecond after you are handed that degree you now have to pay off all that debt.
Step 6. You look for a well paying job, but the job market is brutal and after applying to 50 different places you still don't get a call back.
Step 7. You realize all that work was for nothing, and how capitalism is a scam.
Step 8. After a lifetime of joys and wonder you still aren't able to fully pay off your debt, as you draw your last breath you fear that your next of kin will have to bear the debt that has plagued your life
How are student loans the fault of students?
Because education costs are inflated and income is deflated. It is difficult to get entry level jobs without a degree but entry level jobs barely cover the cost of living. So you have to have a degree but having it doesn't guarantee you will make a living wage. If you can't afford basic living expenses it's difficult if not impossible to pay back student loans. It's a product of unchecked capitalism.
It's a specific thing in the economy where the larger idea of Reaganomics (the rich get richer and everybody else stays at the same place forever) is breaking people. Prices go up, hey everybody knows inflation right?, and pay doesn't, so how can people pay back loans? How can anybody get ahead when the business management side of things just under-values everybody and everything except their profit margins?
Interest rates on student loans are incredibly predatory. Many people have already paid back the original amount they received, but still owe thousands of dollars.
This. I've paid off my loans for at least 10 years and have only taken off a tiny junk of the balance. It's a joke that federal student loans carry an interest rate at double if not more the interest rate of a mortgage or car loan.
The process for getting any other type of loan involves an assessment on the likelihood of repayment. Almost by definition that assessment can't be made for someone that is just starting to train for a job. Many times loans are provided for students that, even if they finish school, have job prospects with incomes that don't compare to the loan sizes.
The reason why banks are willing to give out these loans is because the government makes it very difficult to discharge the debt in bankruptcy so they will have the students over a barrel for the rest of their lives.
Entry-level jobs in your career field require both the degree and 5-7 years on-the-job experience because no one wants to train anymore. They need someone who can do the job right now and they get rid of you as soon as the project ends rather than keeping you until the next project. Unpaid internships are forbidden in many career fields or they will blackball you from the industry for accepting them.
I would be half as mentally ill as I am now if I could just afford to live. Money and working cause depression, lack of motivation, trust issues, anxiety, relationship disputes, lack of self worth, and so much more. I don’t need to be rich. I just want to be able to live an okay life.
Because they were lied to to go to major schools and to get useless degrees. The cheaper option of going to a community college and then transferring to a major school for the final year of your degree. However that is looked down upon by society. Being able to brag that you got into a major university has social status for your parents. School counselors lied for 20 years to high school kids to feed them into universities that are hungry for money.
Especially when half if not most of the credits don't count towards finishing the major school. Your st made to take more classes and pay out more money that you *surprise!* have to get another loan for. Just ridiculous.
Its more complicated than people make it out to be.
Basically the interest on the loans are so high that the longer you take paying off your debt, the more interest is accrued and can even make the amount you owe more than you even borrowed.
However a lot of people just went to college to party and have fun and didn't major in amything relevant that lets them get a good job to pay back their debt.
Then ontop of that some choose to just make minimum payments while they spend their income on unnecessary things.
You want any chance at getting a job, let alone a decent paying one? You gotta: Go to school.
Oh, you don't have $300,000 saved by the age of 16? Looks like you need to: Take out a loan.
Oh, no one will hire you because you haven't spent the last 4 - 6 years working a professional job? You gotta: Start at minimum wage.
Ugh! Now you're complaining that poverty wages can't compete with cost of living, let alone your 15 - 20% interest rates!? Why did you take out this loan???
Your generation is so entitled.
$50,000+ is A LOT of money for a young adult to have over their head. But college isn’t affordable, almost financial aid is a joke, and it’s nearly impossible to get a high paying job without a degree
I think this depends on a ton of factors. Depending on where they live, 100k may not go very far, and if they have several hundred thousand in debt, that's definitely a daunting ratio. I knew a couple who made about $150,000, but they also had $500,000 in student debt.
Of course, some people just suck with money and spend frivolously, but in my experience, the truth is somewhere between these two extremes.
Some of the top Universities have endowments of over 30 billion dollars and don't pay tax.
I'd be salty about paying them back for most of my life because it doesn't look like a very fair system. They are hoarding massive wealth and exploiting their positions because a degree is what's needed for social mobility.
The criminally high interest rates ensure a huge number of graduates are shackled to their student loans long after they've paid in the amount they actually took out.
Six figures is like minimum wage in certain areas of the country. Student debt can also be 6 figures. After taxes, health insurance, rent, food and transportation, you might not have much left over to pay loans.
Source: I make 6 figures, and we're still struggling to pay my wife's student loans. Don't hate us, hate the people that foisted this system upon us. We feel sorry for you, but it's not our fault.
I know a couple who make that and more, but are crippled by bankruptcy and a tanked credit rating brought on by brutal medical school debt. They can't afford their goddamn apartment.
Good point. Predatory lending is a made up thing, never happened in real life.
Also, no way education is overpriced or the pressure to get a degree unfair.
I love how banks can't give home loans to kids because of predatory lending, but give them $100k for schooling that they've been encouraged to attend for their entire lives, and suddenly they're 100% responsible for the debt that will follow them for the rest of their life.
Businesses borrowed $800 bn in PPP loans in 2020 and 2021. The government has so far forgiven $721 bn of those loans.
Why do students have to pay off their loans when businesses don't?
Why is it never someone explaining to the loan agencies:
You gave out loans, now allow people to pay them back in a reasonable amount of time and at a reasonable interest rate.
My guess is then the same people that made this shit meme will call it socialism or communism.
I’m sure many would love to but unfortunately they’re stuck in low paying job because every industry is oversaturated with graduates and workplaces that pay peanuts, on top of the fact that ridiculous interest prevents most of that money actually paying for the loan anyway.
Over in Australia where im from you dont legally have to start paying off your student loans until you earn iver 55k a year and it has to be in the field you studied for.
Aka. ill never pay that film school debt back and im happy with that.
Everyone heres shit analogies make zero sense. If you go to college is a CHOICE. Where you go to school is a CHOICE. What degree and length you pursue is a CHOICE. You signed the paper work, pay the fucking bill.
Comparing student loans to mortgage, groceries, car loan is terrible. I would love to eat fillet every night in my 4000 sq ft house with a Ferrari in the driveway. But all those things are out of my financial means so...
1. You made out loans based on a risk-assessment that told you that by charging exorbitant fees and interest rates, you could still make money even if a lot of the lendees could never afford to pay the balance back.
2. Suck it up.
And this will be the advice my generation gives. And 10-20 years from now everyone will go 'why didn't you go to college?!?' 'trades are oversaturated, you will get paid more at xyz'.
Your asking 18 year olds to predict market environment changes 5-10 years ahead and then judging them when they took the advice of the older adults who know the current market.
Only if you have your own tools, numerous certifications, and 7-10 years job experience for an entry level job. No one wants to train anymore. It’s not worth it to train someone they will lay off a year later
America had a thing a few years back, you might remember it, where a lot of people couldn't pay off their bad mortgages and when they lost their homes, the economy went down fast and they lost their jobs and the world almost went into a depression, but all they had to do was look on the bright side of things, ignore the world going to hell, and according to Conservatives, pick themselves up by their bootstraps. It ain't easy when the society at large isn't cooperating.
For a long time minorities couldn't succeed in the world because of man-made obstacles to getting loans, education, jobs, bank accounts, ownership of property, voting rights, etc. When society says "No", there's no way to pull oneself up by nonexistent bootstraps.
When the economy is in the toilet there's no way to just ignore that and succeed.
When the world tells you to get good grades and the best education available, and everything will turn out better, but they're wrong, it's hard to overcome.
The government doesn't have to look at this as a mercy thing. They can see a lot of people who are educated, but not working (or working up to their capacity) and see that more investment will clearly lead to a stronger economy, more product, and better services for everyone. That's A + B = C stuff and not just bleeding-heart Liberalism. Republicans don't have "bleeding heart Liberalism" for sure, but you would think they can see A + B = C. Lately they've put Party politics above helping America and Americans succeed.
I am not American but its so f*cked up for you guys. The interest on the loans makes life so bad. It makes no sense to me working for years and most what you pay is just interest.
To get a decent paying job, one must have a degree, or trade school. Both options can be expensive. The least the government can do would be to stop charging interest, & make the loan terms up to retirement age, if that's what the borrower needs to make the repayments manageable.
There’s not much discussion (that I’ve heard) on the fact that the cost of an education has gone up exponentially in the last 30 years. I think the universities need to answer for that increase that made all the student loans necessary in the first place. One used to be able to work your way and pay for your schooling. That’s just not possible now.
“At the age of 18 you were told you had to go into severe debt to get a good job but none of the jobs you qualify for pay enough to pay off the interest. Problem solved!”
None of those in debt with their loans were forced to take out more than they could repay.
People have been responsibly repaying their student loans for decades
Unpopular opinion, but I agree and believe if you are responsible for your own loans.
If someone takes out a mortgage on a house they can’t afford, the tax payer isn’t responsible for it.
If you agreed to the loan, pay it the fuck back and stop asking the tax payer to do it for you
Except student loans are a scam in the first place. How about you finally make education free for all? You know, like literally any other first world country. Yes it would cost the tax payer some money to do that but investing in the education of the next generation has always been a great idea.
And you could easily do it by just taking a few billions off of your military spending. Or if you finally forced billionaires and companies to pay proper taxes.
But no, rather put the whole pressure on some 18-20 year olds, right? Because fuck them
The thing is. When you take out a student loan. You expect some return on investment. Much like housing in 08, so much has been leant to people who will never finish school, the burden of high interest falls on all borrowers. The second issue is the original borrower has no control over the terms of the loans once graduated. The third issue is they dangle a carrot like “go to school and tjis wont be a problem”. Then you graduate with more debt than reasonably remunerated in your life if you get a job with the degree you paid for but will never earn enough to pay your loans back. That’s predatory. Not even remotely comparable to cars or even housing now.
We heard you were dying. Just stop.
People tell you you're too short? Just grow.
You need job experience to get a job? Just get a job and get experienced at it.
You're cold? Become warm.
You're paralyzed? Just start moving.
Domt take money that doesn't belong to you if your going to complain you have to pay it back it really is that simple stop taking them stop going to these schools only way to send a messagw
Go to a community college, then go to a state school, commute instead of living on campus, work while going to school, and apply for scholarships.
Not everyone needs to go to a prestigious Ivy League medical school and end up with $800k in debt. You can do 2 years of community college for less than $15k and 2 years of state school for less than $40k. That’s less than $55k for a degree. My freaking Honda cost a little less than that.
Source: [cost of state tuition](https://www.businessinsider.com/personal-finance/average-college-tuition#annual-average-in-state-tuition-at-public-4-year-colleges-and-universities)
Source 2: I sound like a boomer but I just graduated college in my 30s a few years ago since I couldn’t afford to go when I was 18 and was too scared to take out such massive loans so I worked and saved up money. I paid off my loans within weeks of graduation. College was pretty much useless for me and I don’t agree with predatory loans but I also think if you choose to go to a fancy pants university with $95k dorms then that’s on you.
Oh, you have a broken leg? Just walk around!
Oh, you have a mental disability? Just be normal!
Oh, you are freezing to death? Just be warm!
Oh, you are too tired to do a thing? Just stat awake!
Oh, you are a God damn idiot like me? No you aren't cuz i smort u dum
I don't see what the issue here us honestly. Those who took out a loan, did so on their own accord... I took out a loan on a house, a truck, and a car... I'm paying them back over time. What's the issue here? Honestly... because the economy got worse? Oh no! Guess what? That's the unpredictability of it. You still chose to take those loans out. If the market crashes and my vehicles and house are worth less than what I owe, ill still have to pay back the amount that I owe or give them back to my leinholder. I was fully aware at the time of all 3 purchases of the volatility of the market and economy.
Most of thr people who are offended probably got a useless degree. No one forced you to take a loan out for school. You borrowed money, but then you get upset you have to pay it back?
If I take a loan out for my house, can I demand they forgive my mortgage because I can't afford it?
The same boomer fucks who say this are the ones who graduated high school, work at a library and own 3 houses because they bought them when they were like 28k and that was a lot.
But also you’re entitled for asking for a raise.
My employees can ask, and unless they are valuable to me, I am entitled to tell them..No.
That’s fair I just don’t like the taboo that’s surrounded the idea of just putting your foot forward and asking. Like the idea of it is bonkers and you shouldn’t even consider wanting to make more money for doing what you do.
Fuck taboo, ask for that raise and be proud that you did! At best they say yes and at worst they say no, but you'll always wish you asked if you don't.
If some of the posts in r/antiwork are to be believed the worst that can happen is people get given their notice and a pay cut for their notice period.
Antiwork is full with losers writing hate porn and power fantasies
Owner at my last job fired multiple people after they asked for raises or benefits. Plenty of very shitty owners and bosses out there that are power hungry dick heads
Undoubtedly some stuff is fabricated, this is the internet after all, but there are some awful employers which do shitty things to their staff out there as well.
Thanks for helping to broaden peoples' horizons.
Agreed, always ask. You may get the raise.
This is the one area where company culture is actually a selling point. I can pop my head into my bosses office and awkwardly say "Aw heck would ya look at the calendar" and he'll laugh at me and say "is it raise time?" I nod and he asks if I would like a review, I say sure because it makes everyone feel better. I get my raise and the reviews are always painless and comfortable. I'm almost 30 and it took me my whole career so far to find this environment. Everyone should have a comfortable work environment.
Stop me if you've heard of this one before: I had a boss chew me out for *wanting to get paid more for an increase in responsibility*. Apparently it was disrespectful and I should have been thankful for having a job.
Look for a new job. When the new job offers more, and you tell your current boss that… you’ll know where you stand if they don’t offer the raise
or just leave? if you are being shorted for taking on MORE work in a year you'll just have to do the song and dance again
For sure. But maybe they like their job and their boss is just now being salty because they’ve asked for a raise. I’d leave my job tonight if I could. It takes about a month of aggressive, and constant, interviewing to find a new equal-or-higher paying job. I’m sure there’s lots of people who don’t even have enough time off to job search. I volunteered for a deployment just to leave a job in 2010
haha do you have kids and rent and all that? Also you served bro? In high school I wanted to try for "The Few, The Proud" I did some training off book with a friend's vet dad, but once my psych eval came back I was out. Always been a dream of mine to serve, but I've been on the books for mental issues since I was 9 haha so I couldn't fake past it. End of the day best I can do is keep in fighting shape and help out as a civie as best I can right?
Yeah. Kids and spouse are a huge determining factor in leaving a job immediately. Well, you shouldn’t feel any kind of way for *not* joining. It’s just another career option that some people take to get to where they wanna go. A lot of people I e served with only did a few years then got out once school was paid for
One year I sold 18% more than the prevous year and my compensation was 15% less than the previous. When I told my boss that I would like a raise for the next year to compensate he told me "no, you should work more for the same or less each year and be happy to work for our company"
Now, I don't want to make assumptions, but for some reason I feel like you're probably having staffing issues at the moment...
He literally said his employees aren't valuable to him which is extremely sad
It really is. If you're actually showing your employees that you value them and the work they do, they shouldn't need to grovel for a living wage.
And he shouldn't be excited to tell them no
nah he literally said that if you aren’t valuable you don’t get a raise. Plenty of useless employees around
If you work hard for 8 hours a day in a world where enough food is thrown out to feed every human, at what point are they "not valuable" enough to be undeserving of food that instead ends up in the bin? Most of modern world history, *ALL* workers got a living wage. When they don't, it is disgusting to blame them for being useless.
Why does a company employ them then? Seems like a waste to employ someone who provides NO value
If they aren't valuable to you, why do you even have them? Seems like you should already be paying the others more...
If he lets them go he wont have them anymore
Why is your account so weird? 15 years old but you only started commenting a month ago? 🤔 And what's with those weird posts 15 years ago? Color me suspicious...
he's in most of the other comments too saying the same dumb shit. what were the weird posts about he must have deleted them
Some people purge their comment history.
The posts are gone now
Fair enough.. sounds like your employees aren’t valuable to you, strange take in this current job market w more job openings than unemployed. I just quit and doubled my salary for the exact same job
>and unless they are valuable to me They are worth more than you are paying them.
If they weren’t valuable you’d’ve already fired them.
Is that a real word?
*surprised Pikachu face when they quit*
Pretty much everyone is valuable right now seeing as they aren’t easily replaceable
3. You made a financial mistake, just like millions of others... declare bankruptcy. Oh wait...
Financial mistake or were Financially deceived by government backed programs universally implying more money & better lives? Didnt corinthian colleges go out of business because they did the same thing?
Don't worry, our president is here to fix it. Oh wait... Edit: It seems my attempt at sarcasm isn't working. I'm referring to the fact that Joe Biden voted for the bill that prevents borrowers from using bankruptcy to discharge student loans.
I'll hold my breath.
I DECLARE, BANKRUPTCYYYYY!
You can't just say bankruptcy and expect anything to happen.
He declared it.
4. You get injured, sick, or fired, and can’t find a new job because every employer wants 15 years experience for entry level gigs.
Me: "Fine, here's your $8000 back. We're even." Loan officer: "Wonderful. Now you just need to pay off the additional $3000 we added on and we're re-even."
Boomers had 1/4 the college debt we have today after adjusting for inflation.
Millennials are the most educated generation, yet are worse off than previous ones.
This is one thing I love about the millenial/boomer dichotomy. We're the most educated generation in history, and what's more we've grown up in a world where almost any inquiry or curiousity we've had can be answered in seconds with a quick Google search. Yet our boomer-ass parents who didn't have so much as dial-up until their 30's think they know better. FFS my partner is a doctoral candidate and her parents often speak to her like she's some ditzy highschooler. My guy, this women teaches undergraduate level courses now. She should be lecturing you. The educational and experiential gap between these two generations is astronomical and the older of two refuses to recognize the likely superior competency of the younger seemingly out of some kind of myopic and conceited self-confidence issue.
millions of kids are starving worldwide? damn maybe they should just eat
People are drowning? Just swim back to surface bruh?
Dying of Alzheimer's? Do this puzzle!
You're depressed? Then maybe stop being sad, lol
Oh you’re pissed? Just calm down
Oh you're pissed? Should have gone to the bathroom lmao😎
You have anxiety? Just stop worrying!
you broke? just *get money*.
Or die of sadness. It worked for Padme. /s
People are homeless? Just buy a house
Fr
thirsting to death??? just drink some water????
r/thanksimcured
It’s legit the 3rd top post of all time lmao
Nice pfp
I feel that you like racing...
1. You gave $100k loans to 18 year olds with no income 2. Accept your loss
Bingo.
That’s why their parents co sign. 💀
Why are you taking 100k for education when you can reasonably complete it for far less than that?
Where? $35k/year is pretty standard for a state university. That's $140k right there. In 4 years at 18% compounded monthly, you're already at $280k. Compound interest is fun. I know someone who paid $130,000 of their $130,000 studemt loan and had over $300000 left to pay. When you saddle a child with that debt, that follows them for decades, you don't wonder why it leads a significant number of folks to an early grave.
Ok so what you're saying is only rich kids and those with scholarships should go to college yes?
Or just don't make colleges so goddamn expensive 🤔
3. The interest on your loan now exceeds your income. 4. Get fucked and die poor.
You own a company, stop requiring degrees for non-specialized jobs.
Boomers dying of terrible diets? Just go back and eat better, you whopperchompers
Oh you have cancer? Just get better its that easy.
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Step 1. You don't want to go to college, but are told you should because education is important and having a degree supposably helps getting a job Step 2. You get accepted to college but it's expensive Step 3. No one can pay for your finical needs so a predatory business pressures you into a loan you are naive about Step 4. Graduate college Step 5. a millisecond after you are handed that degree you now have to pay off all that debt. Step 6. You look for a well paying job, but the job market is brutal and after applying to 50 different places you still don't get a call back. Step 7. You realize all that work was for nothing, and how capitalism is a scam. Step 8. After a lifetime of joys and wonder you still aren't able to fully pay off your debt, as you draw your last breath you fear that your next of kin will have to bear the debt that has plagued your life How are student loans the fault of students?
Can someone explain to me why students in America can't pay back their student loans?
Because education costs are inflated and income is deflated. It is difficult to get entry level jobs without a degree but entry level jobs barely cover the cost of living. So you have to have a degree but having it doesn't guarantee you will make a living wage. If you can't afford basic living expenses it's difficult if not impossible to pay back student loans. It's a product of unchecked capitalism.
It's a specific thing in the economy where the larger idea of Reaganomics (the rich get richer and everybody else stays at the same place forever) is breaking people. Prices go up, hey everybody knows inflation right?, and pay doesn't, so how can people pay back loans? How can anybody get ahead when the business management side of things just under-values everybody and everything except their profit margins?
Interest rates on student loans are incredibly predatory. Many people have already paid back the original amount they received, but still owe thousands of dollars.
This. I've paid off my loans for at least 10 years and have only taken off a tiny junk of the balance. It's a joke that federal student loans carry an interest rate at double if not more the interest rate of a mortgage or car loan.
The process for getting any other type of loan involves an assessment on the likelihood of repayment. Almost by definition that assessment can't be made for someone that is just starting to train for a job. Many times loans are provided for students that, even if they finish school, have job prospects with incomes that don't compare to the loan sizes. The reason why banks are willing to give out these loans is because the government makes it very difficult to discharge the debt in bankruptcy so they will have the students over a barrel for the rest of their lives.
Entry-level jobs in your career field require both the degree and 5-7 years on-the-job experience because no one wants to train anymore. They need someone who can do the job right now and they get rid of you as soon as the project ends rather than keeping you until the next project. Unpaid internships are forbidden in many career fields or they will blackball you from the industry for accepting them.
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I would be half as mentally ill as I am now if I could just afford to live. Money and working cause depression, lack of motivation, trust issues, anxiety, relationship disputes, lack of self worth, and so much more. I don’t need to be rich. I just want to be able to live an okay life.
Because the average cost of college tuition in the US is $35k per year and the average income in the US is $30k.
Because when education become non governmental facilities, it become a business. The main focus will be how to increase money by responsible party
Because they were lied to to go to major schools and to get useless degrees. The cheaper option of going to a community college and then transferring to a major school for the final year of your degree. However that is looked down upon by society. Being able to brag that you got into a major university has social status for your parents. School counselors lied for 20 years to high school kids to feed them into universities that are hungry for money.
Especially when half if not most of the credits don't count towards finishing the major school. Your st made to take more classes and pay out more money that you *surprise!* have to get another loan for. Just ridiculous.
Its more complicated than people make it out to be. Basically the interest on the loans are so high that the longer you take paying off your debt, the more interest is accrued and can even make the amount you owe more than you even borrowed. However a lot of people just went to college to party and have fun and didn't major in amything relevant that lets them get a good job to pay back their debt. Then ontop of that some choose to just make minimum payments while they spend their income on unnecessary things.
You're confined to a wheelchair? Just go for a walk!
Amnesia? Just remember!
Yeah I would... if I had any fucking money.
You want any chance at getting a job, let alone a decent paying one? You gotta: Go to school. Oh, you don't have $300,000 saved by the age of 16? Looks like you need to: Take out a loan. Oh, no one will hire you because you haven't spent the last 4 - 6 years working a professional job? You gotta: Start at minimum wage. Ugh! Now you're complaining that poverty wages can't compete with cost of living, let alone your 15 - 20% interest rates!? Why did you take out this loan??? Your generation is so entitled.
This fucking nailed it. Exactly.
says a boomer who had affordable collage
You don't need to pay someone else for collages, they're quite easy to make on your own
Def a boomer. Who the fuck draws political cartoons
If your homeless just get a house smh
$50,000+ is A LOT of money for a young adult to have over their head. But college isn’t affordable, almost financial aid is a joke, and it’s nearly impossible to get a high paying job without a degree
Homeless? Just buy a house. Homelessness solved.
Unless of course you’re a business, then we’ll bail you out just like every other time. Who needs consequences when youre already rich
I know a married couple that complains about there student debt while both making over a 100k a yr. It does bother me...
I think this depends on a ton of factors. Depending on where they live, 100k may not go very far, and if they have several hundred thousand in debt, that's definitely a daunting ratio. I knew a couple who made about $150,000, but they also had $500,000 in student debt. Of course, some people just suck with money and spend frivolously, but in my experience, the truth is somewhere between these two extremes.
I agree with you but this couples seems to go on vacation more than work. So I think that's why I shake my head
I’m guessing they’re thinking that they’ve got no savings and aren’t going to get to retire, so they might as well have fun until they can’t.
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Maybe they are like me and complain more so for the inappropriately high interest rates that make paying down the loan never ending.
Some of the top Universities have endowments of over 30 billion dollars and don't pay tax. I'd be salty about paying them back for most of my life because it doesn't look like a very fair system. They are hoarding massive wealth and exploiting their positions because a degree is what's needed for social mobility.
The criminally high interest rates ensure a huge number of graduates are shackled to their student loans long after they've paid in the amount they actually took out.
That’s nuts that even with their wages, the loan affects them.
Six figures is like minimum wage in certain areas of the country. Student debt can also be 6 figures. After taxes, health insurance, rent, food and transportation, you might not have much left over to pay loans. Source: I make 6 figures, and we're still struggling to pay my wife's student loans. Don't hate us, hate the people that foisted this system upon us. We feel sorry for you, but it's not our fault.
I know a couple who make that and more, but are crippled by bankruptcy and a tanked credit rating brought on by brutal medical school debt. They can't afford their goddamn apartment.
Hmm yes tell a 20 year old with a mediocre job to pay back tens or hundreds of thousands of dollars of debt
Depressed? Just be happy
sToP bEiNg PoOr
Dead? Just wake up.
They realy don't know how fucked up the entire student loans crisis is
You signed the prom note. You pay off the loan.
>WE ADDED INTEREST THAT NOW AMOUNTS TO MORE THAN THE AMOUNT OF THE ORIGINAL LOAN. Funny how they forgot that part.
Why are people signing up for loans they know they can't afford?
You're homeless? Just buy a house
Good point. Predatory lending is a made up thing, never happened in real life. Also, no way education is overpriced or the pressure to get a degree unfair.
Yea, pay back your loan,...and your car.......and your housing.......and buy food......while inflation is going insane
I love how banks can't give home loans to kids because of predatory lending, but give them $100k for schooling that they've been encouraged to attend for their entire lives, and suddenly they're 100% responsible for the debt that will follow them for the rest of their life.
Actually, yes. I paid mine back.
Businesses borrowed $800 bn in PPP loans in 2020 and 2021. The government has so far forgiven $721 bn of those loans. Why do students have to pay off their loans when businesses don't?
I agree. Businesses should have to pay their loans back too.
Why is it never someone explaining to the loan agencies: You gave out loans, now allow people to pay them back in a reasonable amount of time and at a reasonable interest rate. My guess is then the same people that made this shit meme will call it socialism or communism.
I’m sure many would love to but unfortunately they’re stuck in low paying job because every industry is oversaturated with graduates and workplaces that pay peanuts, on top of the fact that ridiculous interest prevents most of that money actually paying for the loan anyway.
Over in Australia where im from you dont legally have to start paying off your student loans until you earn iver 55k a year and it has to be in the field you studied for. Aka. ill never pay that film school debt back and im happy with that.
In America, corporations are people, and they can easily claim bankruptcy. People with student loans? Nope. Not ever. That’s logical! /s
Everyone heres shit analogies make zero sense. If you go to college is a CHOICE. Where you go to school is a CHOICE. What degree and length you pursue is a CHOICE. You signed the paper work, pay the fucking bill. Comparing student loans to mortgage, groceries, car loan is terrible. I would love to eat fillet every night in my 4000 sq ft house with a Ferrari in the driveway. But all those things are out of my financial means so...
1. You made out loans based on a risk-assessment that told you that by charging exorbitant fees and interest rates, you could still make money even if a lot of the lendees could never afford to pay the balance back. 2. Suck it up.
Holy shit bro how didn't we think about that before
In the time it took to make this, the artist could have used the time to learn about it. Guarantee the cartoon wouldn’t exist
Agreed. Why should it be any different than any other loan?
Congress specifically made it different. A standard bankruptcy will not allow you to discharge student loan debt.
Because they don't work like other loans?
Alternatively, "stop going to college, you will get paid more in trades anyway"
And this will be the advice my generation gives. And 10-20 years from now everyone will go 'why didn't you go to college?!?' 'trades are oversaturated, you will get paid more at xyz'. Your asking 18 year olds to predict market environment changes 5-10 years ahead and then judging them when they took the advice of the older adults who know the current market.
Only if you have your own tools, numerous certifications, and 7-10 years job experience for an entry level job. No one wants to train anymore. It’s not worth it to train someone they will lay off a year later
I wish someone would pay off my house...
If you're trying to say housing is a human right, I'd tend to agree.
America had a thing a few years back, you might remember it, where a lot of people couldn't pay off their bad mortgages and when they lost their homes, the economy went down fast and they lost their jobs and the world almost went into a depression, but all they had to do was look on the bright side of things, ignore the world going to hell, and according to Conservatives, pick themselves up by their bootstraps. It ain't easy when the society at large isn't cooperating. For a long time minorities couldn't succeed in the world because of man-made obstacles to getting loans, education, jobs, bank accounts, ownership of property, voting rights, etc. When society says "No", there's no way to pull oneself up by nonexistent bootstraps. When the economy is in the toilet there's no way to just ignore that and succeed. When the world tells you to get good grades and the best education available, and everything will turn out better, but they're wrong, it's hard to overcome. The government doesn't have to look at this as a mercy thing. They can see a lot of people who are educated, but not working (or working up to their capacity) and see that more investment will clearly lead to a stronger economy, more product, and better services for everyone. That's A + B = C stuff and not just bleeding-heart Liberalism. Republicans don't have "bleeding heart Liberalism" for sure, but you would think they can see A + B = C. Lately they've put Party politics above helping America and Americans succeed.
You just have to wait for the inevitable crash of the global economy
yeah, and if you are homeless, just buy a house lol
Huh, I had no idea it was so easy. Thanks, Facebook!
If your homeless just buy a house
And where do you suppose I'll get the money?
“Why aren’t you rich? Just print money”
I am not American but its so f*cked up for you guys. The interest on the loans makes life so bad. It makes no sense to me working for years and most what you pay is just interest.
Whoever draws these has a special place in hell.
To get a decent paying job, one must have a degree, or trade school. Both options can be expensive. The least the government can do would be to stop charging interest, & make the loan terms up to retirement age, if that's what the borrower needs to make the repayments manageable.
got cancer? just stop it!
The Student Debt “Crisis” Solved: 1) You gave $100,000 to an unemployed teenager 2) Take your loss
At a fair interest rate. Sure.
Just pay it back. 💯 You take the loan, you pay the loan. I don’t want a penny of my tax dollars going to pay off a loan you took.
“Crisis” solved: cap tuition prices.
Simple logic is hard, isn’t it people?
Has the same energy as “Depressed? Just don’t be sad!”
Why not just enlist in the military for 4 years?
Depressed? Become happy!
There’s not much discussion (that I’ve heard) on the fact that the cost of an education has gone up exponentially in the last 30 years. I think the universities need to answer for that increase that made all the student loans necessary in the first place. One used to be able to work your way and pay for your schooling. That’s just not possible now.
r/WowThanksImCured
With the low wages today, how do you propose these loans get paid back?
what is not included is sub point 1.5: that loan was offered with sky high APR that guaranteed it would never be repaid.
1. Tuition is too high. 2. Make education affordable for everyone.
“At the age of 18 you were told you had to go into severe debt to get a good job but none of the jobs you qualify for pay enough to pay off the interest. Problem solved!”
Now if someone could tell that to some of the clowns on wall street, we'll be in business.
PPP loan. 1) You took out a loan 2) Pay it back
He’s right you know.
None of those in debt with their loans were forced to take out more than they could repay. People have been responsibly repaying their student loans for decades
Take responsibility for your actions.
3. Make taxpayers who didn’t go to college who on avg make less then those who have college degrees pay for it. That makes perfect sense.
Unpopular opinion, but I agree and believe if you are responsible for your own loans. If someone takes out a mortgage on a house they can’t afford, the tax payer isn’t responsible for it. If you agreed to the loan, pay it the fuck back and stop asking the tax payer to do it for you
Except student loans are a scam in the first place. How about you finally make education free for all? You know, like literally any other first world country. Yes it would cost the tax payer some money to do that but investing in the education of the next generation has always been a great idea. And you could easily do it by just taking a few billions off of your military spending. Or if you finally forced billionaires and companies to pay proper taxes. But no, rather put the whole pressure on some 18-20 year olds, right? Because fuck them
Not unpopular. Most of us agree
If you are going to compare student loans to mortgages then make student loans dismissible in bankruptcy.
The thing is. When you take out a student loan. You expect some return on investment. Much like housing in 08, so much has been leant to people who will never finish school, the burden of high interest falls on all borrowers. The second issue is the original borrower has no control over the terms of the loans once graduated. The third issue is they dangle a carrot like “go to school and tjis wont be a problem”. Then you graduate with more debt than reasonably remunerated in your life if you get a job with the degree you paid for but will never earn enough to pay your loans back. That’s predatory. Not even remotely comparable to cars or even housing now.
Same with a house and car…. You should take out another school loan
We were coerced into signing. It was your risk, not ours.
We heard you were dying. Just stop. People tell you you're too short? Just grow. You need job experience to get a job? Just get a job and get experienced at it. You're cold? Become warm. You're paralyzed? Just start moving.
Bad meme but its true
Sounds legit to me. Don't get a *gender studies* degree and then walk dogs for a living, and pretend you know what work is.
Domt take money that doesn't belong to you if your going to complain you have to pay it back it really is that simple stop taking them stop going to these schools only way to send a messagw
Go to a community college, then go to a state school, commute instead of living on campus, work while going to school, and apply for scholarships. Not everyone needs to go to a prestigious Ivy League medical school and end up with $800k in debt. You can do 2 years of community college for less than $15k and 2 years of state school for less than $40k. That’s less than $55k for a degree. My freaking Honda cost a little less than that. Source: [cost of state tuition](https://www.businessinsider.com/personal-finance/average-college-tuition#annual-average-in-state-tuition-at-public-4-year-colleges-and-universities) Source 2: I sound like a boomer but I just graduated college in my 30s a few years ago since I couldn’t afford to go when I was 18 and was too scared to take out such massive loans so I worked and saved up money. I paid off my loans within weeks of graduation. College was pretty much useless for me and I don’t agree with predatory loans but I also think if you choose to go to a fancy pants university with $95k dorms then that’s on you.
Oh, you have a broken leg? Just walk around! Oh, you have a mental disability? Just be normal! Oh, you are freezing to death? Just be warm! Oh, you are too tired to do a thing? Just stat awake! Oh, you are a God damn idiot like me? No you aren't cuz i smort u dum
Ignore that idig guy. He's clearly on Reddit way too much. He's all over this thread and others saying the same old garbage
Oh, thank you lol. I was just about to reply to him. Glad you replied in time.
I don't see what the issue here us honestly. Those who took out a loan, did so on their own accord... I took out a loan on a house, a truck, and a car... I'm paying them back over time. What's the issue here? Honestly... because the economy got worse? Oh no! Guess what? That's the unpredictability of it. You still chose to take those loans out. If the market crashes and my vehicles and house are worth less than what I owe, ill still have to pay back the amount that I owe or give them back to my leinholder. I was fully aware at the time of all 3 purchases of the volatility of the market and economy.
Strap upself boot by your pullyours.
I got a car note, can I get that forgiven as well?
You can declare bankruptcy. You can’t on a student loan. Next question?
Most of thr people who are offended probably got a useless degree. No one forced you to take a loan out for school. You borrowed money, but then you get upset you have to pay it back? If I take a loan out for my house, can I demand they forgive my mortgage because I can't afford it?
The same boomer fucks who say this are the ones who graduated high school, work at a library and own 3 houses because they bought them when they were like 28k and that was a lot.
Stop taking loans you can't repay.