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/biz/ - Business & Finance

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16934198 No.16934198 [Reply] [Original]

>student loans at 4% or less
Why shouldn't I just do a 25 year repayment plan?
>chance that Bernie gets elected and has Student Loan forgiveness
>average return is 7% on stock market

>> No.16934522

Nobody will ever forgive student loans

>> No.16934538

7% yearly gives 50000 dow

>> No.16934555
File: 67 KB, 399x351, COMFYmemefrog.jpg [View same] [iqdb] [saucenao] [google]
16934555

>>16934522
>t. cuck who paid off his student loans early
Bernie is going to tax the shit out of Wall Street and forgive my loans. Feels /comfy/

>> No.16934577

>>16934555
I just started paying mine off, and you don't wanna get caught in the market when it crashes

>> No.16934721

>>16934198

Say you borrow 50k at 4%

That's 50000*1.04^25 = 133,291.82 with interest. It only gets worse with the amount initially borrowed.

200000*1.04^25 = 533,167.27

>> No.16934731

>>16934721
In 25 years due to inflation 133k will not be a lot of money

>> No.16934743

>>16934731

Yeah, but when do your payments start?

>> No.16935098
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16935098

I was curious as to how my students loans were doing and nothing changed. Didn’t graduate yet I owe them 12 grand. I would have to work for an entire year to pay it off entirely. No degree. Fuck this gay ass debt scam.

>> No.16935112

>take loan
>surprised to find out you have to pay it back

>> No.16935121

>>16934555
>bernie is going to tax the shit out of wall street
"Totally inconsistent with the shot from the depository. Again... back and to the left… back and to the left… back and to the left… back and to the left."

>> No.16935126

>>16935098
but wasn't your 4 yrs of adult daycare worth it?

>> No.16935146

>>16935112
Hoard mentality. Go to community college after high school. Welp not for me. Here’s a 12 thousand dollar bill. It’s a scam. I’m worse off now. It’s my hand in life and now I have to pay it back but shit I wish I better or had someone sit me down to weigh my options.

>> No.16935211
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16935211

Don’t get it twisted zoomer. It doesn’t matter who’s in office, there is no free lunch. The game was rigged way before you were born. Welcome to the real world.

>> No.16935221

>>16935126
I didn’t graduate and only got like 13 credits. Yeah both my parents are idiots and so am I.

>> No.16935223

>not defaulting, living your life off the grid, and dying with the largest debt to the federal government you can possibly rack up

>> No.16935231

>>16935098
How did you get this much in a year? I have like $16k and I'm a senior

>> No.16935234

>>16935221
well, you did go to community college so that proves you are at least >110 iq.

>> No.16935237

Degrees won’t even get you a job anymore and it won’t get any easier. Anyone signing up for this shit is a complete moron. Only people that benefit from college are minorities that get to go for free anyway.

>> No.16935290

Ego. I let my ego do the decision-making and the worse part is I’m not done making dumb decisions moving forward. Doomed to pay this crap off without a degree but shit it’s only a year’s worth of no fun while living with parents. I took a risk and failed so others could succeed. Now I get to work 3rd shift and smoke pot/drink my sorrows away. I wanted to be a surgeon but anxiety and zero positive reinforcement. Eh that’s life. Good thread OP.

>> No.16935294
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16935294

>accidentally paid off 95% of my student loans before any of this debt forgiveness bullshit came up
>only $1500 left to pay with a payoff date 2.5 years from now
>keep doing the "right thing"
>never going to get any free shit at other peoples expense

how do you guys cope with being born a white male? shits no good anymore

>> No.16935303

>>16935290
honestly speaking...why not get a trade cert? electrician / plumbing / hvac tech?

>> No.16935315

>>16935294
well you've identified why the great student loan writeoff will never happen
it will create a regression loop where everyone will say: but i already paid off X% of my loans...this is not fair!
unironically this will doom bernie because it will be impossible that he hand out enough free shit to satisfy everyone

>> No.16935316

your supposed to either have scholarships or have rich parents. if you don't get scholarships they are literally telling you you probably aren't smart enough, and if you don't have rich parents you don't get placed in a good job anyway. if your a dumb fuck that still insists on going then they'll happily let you make yourself a debt slave for life, but that's your fault.

>> No.16935346

>>16935294
Hey you still paid off most of your loan. Good job. Don’t beat yourself up with regret over good news.

>> No.16935347

>>16935223
They will seize your property, you cant unplug yourself from the taxman

>> No.16935355

>>16935303
I’m a moron

>> No.16935365

>>16935098
if you would of spent that amount on that day on bitcoin you would be a multi billionaire today

>> No.16935371

>>16935355
there are companies that will pay you to get a cert....a neighbors son went to work for a big commercial hvac company who paid him min wage to be a helper (crawl in attic space, etc) but also paid for him to attend night classes on hvac tech provided he worked for them for 2 yrs afterward.
he did and got a nice pay bump and his now licensed....all while being paid to get his cert.
maybe look into something like that.

>> No.16935373

>>16935365
Sure I’ll just pick the tokens which will 9000x and call it a day

>> No.16935389

It's never going to happen you retards

>> No.16935407

>>16934198

Sounds like a good plan. Bernie will win and cancel them and if not it may be another 4 to 8 years but eventually enough boomers will die and someone will cancel them. No way this goes on for 25 more years

>> No.16935410
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16935410

STUDENT LOANS ARE EXPENSIVE PURELY BECAUSE THE GOVERNMENT GIVES THEM OUT LIKE CANDY TO STUDENTS WHICH CAUSES COLLEGES TO CONSTANTLY JACK UP THEIR PRICES

ABOLISH GOVERNMENT INTERVENTION IN HIGHER EDUCATION AND THE PRICE WILL FALL THROUGH THE FLOOR

>> No.16935433

>>16935407
I realized the other day, in 10 more years all the shitty Republicans will retire from the senate. I’m cool with it.
Mitch McConnell is 77 right now. Boy I can’t wait for him to retire.

>> No.16935466
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16935466

>>16935433
>dont worry, in 10 years their corrupt establishment politicians will be replaced by my corrupt establishment politicians!

>> No.16935483

>>16935294

this mentality is like a slave complaining because he escaped from slavery a couple years before slavery was abolished and the escape was risky and difficult and it would have been a lot easier to just wait around in slavery. Just be happy you’re a free man

>> No.16935540

>>16935466
So long as the people in charge were born after 1960, I’m fine with it.

>> No.16935551

I'm so happy I have no debt and own my own home.

>> No.16935579

>>16935551
Story time

>> No.16935590
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16935590

>>16935146
You decided you wanted to borrow money at the rate they offered, so you need to pay it back. All of this is your fault, you just refuse to own up to your own mistakes because you are a coward. Here you are blaming other people for not educating yourself when, in reality, you need to be in charge of your life. Truly pathetic m8.

>> No.16935591

>>16935483
But slaves didn't choose to drink and fuck for 4 years

>> No.16935603

>>16935579
I have no debt and own my own home.
I paid off 14k over a year and a half of wageslaving.
My parents helped me buy a house.
I'm renting out the main floor while I live in the basement.
I basically never have to pay rent or any housing costs for the rest of my life.

I may quit my job and just get a small part time job with a food delivery app.
I'll be semi retired lmao

>> No.16935619

>>16935603
>My parents helped me buy a house.
The difference between the many and the lucky.

>> No.16935640

>>16935619
Nah, I could have easily done it myself. I saved up for it, they just co-signed for me. I could have waited for like 6 more months until my credit improved even more.

>> No.16936045

>>16935590
You don’t look at IDs do you?

>> No.16936386

>>16934198
>Why shouldn't I just do a 25 year repayment plan?
Well I'd be sure to look carefully at what doing that over the standard 10 year one entails but there really isn't any reason you shouldn't if your interest rate is lower than your investment return. Personally I'm doing my minimum payments + a bit extra to keep interest from compounding each month, it's working fine. It also probably depends on the amount though, if you have 100k in debt and you're not a doctor you're probably fucked either way and should consider fleeing to Russia or some shit.

>> No.16936876
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16936876

>>16935483
Actually the opposite, because now I gotta be a slave via taxes to pay for all the retards that shouldn't have gone to college in the first place.

>> No.16937111

>>16935640
yeah and i could have been an nfl quarterback if i waited a little while for my spiral to get better

>> No.16937120

>>16937111
not even comparable

>> No.16937212

I took out the max they would give me in subsidized loans and put it all in LINK starting in
Fall 2018(so every semester from then on after). Ask me how fucking comfy I am. And then ask how me fucking COMFY im gonna be after based Bernie forgives my loans.

>> No.16937607

>>16934731
Wages wont go up much if at all in the next 25 years

>> No.16937616

>>16935590
Banks create money out of thin air. Why should we pay them back?

>> No.16937647

>>16934198

Bernie isn't going to win because he's too spineless to challenge the DNC. Even if he were to get the nomination, he would still lose to Trump.

In short, Wall Street is never going to let a candidate like Bernie win.

They're never going to do student loan forgiveness. The most they might do is higher tax deductions for interest paid or lower the interest on unsubsidized loans.

>> No.16937703

If expected return is higher than the debt interest rate than you should invest it rather than paying off the debt, pretty straight forward you brainlets.

The profit can be expressed as a rate of (1.07/1.04)

so if you had 50k to instantly pay off a loan vs paying it over 25 years your profit to invest vs pay off the loan is

50,000 * (1.07/1.04)^25

>> No.16938072

>>16937703
Impossible to find an investment with a consistent return greater than 4%