Stephanie Martins And few places have higher student debt than Pennsylvania. And the Philadelphia region is home to schools with some of the highest student debt anywhere. That’s the highest level of student debt in American history, up nearly 43 percent since , in today’s dollars. Seventy percent of Pennsylvania students have loans, compared with 66 percent nationwide. The New Jersey figure equals the U. Debilitating debt, experts say, could trigger a financial meltdown akin to the mortgage crisis if students don’t repay their loans. It could also make the millennials, aged 18 to 34, the first generation in America not to do better than their parents, a potential failure that has people questioning the morality of how we now pay for education: This includes loans for students who attended any type of postsecondary institution – whether they graduated or not, according to the newly formed federal Consumer Financial Protection Bureau. Student loans can be dangerous for young people, who can’t declare bankruptcy and walk away from their obligations, the way people with credit-card or gambling debts can. Student debt can be garnished from wages and Social Security.
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In response to a story Business Insider published about “sugar babies,” one reader wrote to us to share his “sugar dating” experience. He’s been a “sugar daddy” for over 10 years and has been.
More Ways Than 1 Tackling student loan debt requires a money mindset makeover of its very own. The weight of the financial burden is often multiplied by feelings of failure and discouragement. When job prospects are low and salaries are not even in the range to justify— let alone cover— what you owe for your education, it can be hard to imagine yourself financially well. The Consumer Financial Protection Bureau recently published a report that identifies four elements that define financial well-being: Student loan debt may feel like an immovable obstacle to financial well-being, but Tiffany the Budgetnista and thousands of women participating in her Live Richer Challenge are proving everyday that your dream of fulfilling work and financial freedom is not out of reach, no matter how much money you owe.
Here are some student loan tips to help you take charge of your student loans and position yourself to live richer. Send half of your monthly loan payment every two weeks, rather than sending the full payment once a month. Those extra payments decrease the life of your loan and the amount of interest you pay. ReadyforZero has a free bi-weekly payment calculator that shows how much time and money you can save. My car loan is on a bi-weekly payment plan too.
The money is automatically deducted from my bank account and transferred to the credit union. APCU has a great loan calculator that generates a full amortization schedule that shows how much of each payment will be applied to interest and how much will be applied to principal. An internet search can also help you find various calculators and tutorials on how to create your own versions of these tools. Instruct your loan company to apply overpayments toward your principal balance.
Four faces of student loans: how our borrowing has gone from £0 to £44,000
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While there’s little legal ramification of marrying someone with a massive amount of student-loan debt (debt incurred before marriage is not joint debt), Karen Carr, a certified financial.
But then they also resented doing the basics like food and clothing. Yet they spared no expense on the things they wanted for themselves. I struggled for many years to get a degree. I make a good living and have a family of my own to care for. Reply Jay March 17, at 4: All she had to pay for was her phone and gas. Something must be wrong with her because she actually wanted to be on her own, and not live with her parents.
How did she not learn that the world owes her a living? What conservative nonsense did they teach her at that school? But I convinced her that being debt free should be a top priority. Then, once she was debt free, and had a little saved up, she started out right. Not every parent can pay for their kids college, nor should they necessarily be expected to. Every child and every situation requires its own solution. But no matter your kids chosen career path, just about any parent can provide all kinds of support in many other ways.
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Instead, you should look at options to avoid a default on student loan debt. This is particularly important if you have Federal loans. Check the Federal loan repayment estimator to make sure you see all the Federal options you have right now. If you can afford your monthly payment, but you have been a sloppy payer, then you will likely need to demonstrate responsibility before applying for a refinance. But, if you can afford your current monthly payment and have been responsible with those payments, then a refinance could be possible and help you pay the debt off sooner.
Is It Worth It?
As a foreign woman with a Chinese husband, I couldn’t help but wonder why we’re so rare. When I’m in China, I tend to turn a lot of heads, especially in the countryside — and that’s not just because I’m a .
But this statistic is misleading, because a lot of borrowers think this means qualifying for some type of student loan forgiveness program. The secret is simple: What’s even better is that your income could be low enough to qualify for zero or minimal repayment, at which your loan will be forgiven at the end. You can sign up for these programs for free at StudentLoans. They can help you navigate the student loan terrain and help you systematically apply for the programs offered by the Department of Education.
You can call them at or check out their website here. Here are the student loan repayment plans that qualify for student loan forgiveness: On this plan, you will make payments for 25 years, and at that point, your loans will be forgiven.
Free Dating Sites
Welcome to Sugar Baby University. The student debt crisis in the US has gotten so bad, there’s a growing group of young women — and some men — who are taking an unconventional approach to paying for college. Through dating websites like SeekingArrangement. Many of these sugar babies turned to the site to find someone who will pay for their education so they can graduate debt, and worry, free. In exchange, sugar babies go to dinners, attend events, or accompany their sugar daddy, or daddies, on trips.
In some cases, they provide companionship or foster a mentor-mentee relationship.
Student loans are a huge financial burden to many college graduates. Thankfully there are student loan forgiveness programs available.
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Deadbeat Parents Who Won’t Help Pay for College
The federal student aid program is just another way to tax. Some people get something for free, others subsidize by paying out of pocket. Our government is a joke. The Department of Education is an especially sad joke. Reply Erin December 7, at However there is something to be said about the fulfillment a person achieves and a sense of pride from standing on their own two feet and earning it on their own.
Jul 16, · Some young adults say their student loan debt affects their dating and marriage potential. A few have had partners break up with them over debt, while other couples forge ahead, but .
These sites are just right for you. Although not specifically a Sugar Daddy site, reviews indicate that the majority of the matches are between older, successful men or women with younger less affluent lovers. Sign up is free, although there is a fee for contacting other members. The site identified my location even before I signed in. No membership options for gay couples seems to be available.
This is the least glamorous of the top 10 sugardaddy dating sites, but worth a try. My location was picked up by the site, and other members in the area were listed even before I clicked on the join button. An option to choose couples instead of just a man or woman makes this unique among the sites visited. Services include chat rooms, instant messaging, live video chat, and secure cell phone text messaging.
Basic membership is free, but contacting free members involves a monthly fee. Gold and platinum members can receive contact even from basic level members. Basic membership is free, but premium membership is required to contact other members.
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Show me the slightly less cool mobile version instead. Why millennials are facing the scariest financial future of any generation since the Great Depression. By Michael Hobbes Like everyone in my generation, I am finding it increasingly difficult not to be scared about the future and angry about the past. More millennials live with their parents than with roommates.
We are delaying partner-marrying and house-buying and kid-having for longer than any previous generation. And, according to The Olds, our problems are all our fault:
The Dark Side Of Marrying Someone With Student Debt. While dating someone with debt isn’t a big deal, marrying them can open a Pandora’s Box of issues. And student loan debt might even.
If you date online, take precautions to protect yourself. Here are six things to keep in mind to help you spot and avoid scammers on online dating sites. If you fall into this category, be especially wary of people that you meet through dating websites. The AARP also says that seniors are a common target of these scams. Again, both men and women can and have fallen victim to online dating scammers, but women tend to be targeted more aggressively.
Interestingly, the AARP says that men fall victim to these scams more often, but that women are more likely to report the scam. Profile Warning Signs The profiles of online dating scammers can exhibit some clear signs that something is off—you just need to know what to look for. Scammers also often list themselves as widowed especially with a child , self-employed, or working overseas. The photos used by scammers can also clue you in that something is off. The reverse search engine that usually gets most of the clicks is TinEye.
If that image shows up on other profiles with different names, you should be suspicious.