From a /biz/ perspective, how can I realistically avoid paying my student loans?

[Anonymous No.55523971]

I owe about $310,000 in student loans and as we all know, repayment starts in October. I make too much to qualify for anything income-based, so how can I avoid paying them without getting my credit score destroyed or income garnished?

[Anonymous No.55523982]

>>55523971
biden administration is easing back into payments. i think the provision said no credit ding if you miss payments for a year. but i think the plan is just that -- a plan.

[Anonymous No.55524036]

>>55523982
I was under the impression that only poor people qualified for this? Maybe I'm wrong...

[Anonymous No.55524122]

>>55523971
>I make too much
Just fucking pay it back then

[Anonymous No.55524202]

>>55523971
might as well leave the US at this point. debtmax all possible lines of credits/cc's and go all in crypto for the last bull run

[Anonymous No.55524241]

This is going to be a blood bath.

[Anonymous No.55524247]

>>55524122
It's just that I don't want to, that's all. Everything I do gets taxed to all hell and I'm sick of it. I'm in the highest tax bracket which means I pay for everyone else's shit and when it comes time to get a subsidy, handout, tax break, whatever... I get the shaft. I'm sick of it and I don't wanna pay any more.

[Anonymous No.55524274]

>>55523971
just trust the politicians who say they want to help, and vote for them

https://m.youtube.com/watch?v=MBt7nLTKMis

[Anonymous No.55524280]

>>55524247
You’re a bitch

[Anonymous No.55524285]

>>55523971
lmao $1700 a month?

[Anonymous No.55524307]

>>55524280
No, you're a bitch. I worked my ass off my whole life only to get shit on by the government at every single turn. Sick of poor people getting EVERYTHING just so politicians can buy their votes.

[Anonymous No.55524318]

>>55524285
That's only the start. The payments go up over time. They'll eventually crest $3k

[Anonymous No.55524320]

>>55524307
Serves you right for working so hard.

[Anonymous No.55524336]

>>55523971
You took out a loan, now you get to pay it back. Or default and your credit is fucked for 7 years.

Why did you think your fake make work college degree should be subsidized when more important jobs like trades aren't subsidized by the government?

[Anonymous No.55524427]

The real answer is that you should have made enough money from crypto/stocks investing your doctor salary into BTC and NVIDIA and TESLA over the years that 310k either wouldn't matter or you could bribe the IRS to leave you alone/flee the country with your millions in XMR.

As it is as a doctor you're too rich to get away with not paying 310k, but too poor to be above the law. So I guess you'd better pay some loans.

[Anonymous No.55524434]

>>55524307
Considering you're asking "are there handouts I can get" I'm guessing you're reddit enough to have actually vooted for Brandonius though.

[Anonymous No.55524439]

>>55524336
I'm a doctor, so shove your self-righteous sentiment up your ass. I also make more than enough to pay the loans; I could pay them cash out of my checking account right now if I wanted to. But I just don't want to and I want to avoid paying them because I'm tired of getting my ass fucked by everyone

[Anonymous No.55524447]

>>55523971

Just give up.

[Anonymous No.55524450]

>>55524439
>doctor
Vaxx pusher, burn in hell.

[Anonymous No.55524461]

>>55524450
I never got the vax and told everyone I knew to avoid it. Any other presumptuous bullshit you wanna spew or can we talk about this loan bullshit?

[Anonymous No.55524625]

>>55524461
Maybe they'll let you volunteer with the blacks in lieu of payment or something.

[Anonymous No.55524650]

>>55524439
So you seriously passed medical school and didn't even consider that you had to pay those loans back?

[Anonymous No.55524691]

>>55524650
He's loaded. He just doesn't want to pay the loans back. I get it, in a sense. His fucking theft income tax is probably hirer than the average person's wage.

[Anonymous No.55524727]

>>55524036
Yes the main "easing" is designed for joggers and crop pickers though, it's zero interest accrual indefinitely below $35k income I believe.

[Anonymous No.55524736]

>>55524336

[Anonymous No.55524737]

>>55524691
This guy gets it. I don't consider myself "loaded" but I make enough that paying these loans won't have a huge impact on my life. I just don't want to pay it. It's really that simple. I'm looking for any loopholes to make this happen within the legal framework. I'm tired of carrying the load for everyone else. The last check I wrote was my first quarter payment to the IRS for $150,000. I'm fucking DONE.

[Anonymous No.55524754]

>>55524650
This is the biggest cop out ever. Of course I knew I was going to have to pay them back... I also knew my earning potential would justify the amount of the loan. The thing is though that (((society))) has devolved to the point where the majority of Americans don't pay for shit while those of us who had a vision and followed through with it actually are getting royally raped at every turn. I want my chance to stick it to someone.

[Anonymous No.55524805]

>>55524036
>>55524727
i don't see anything about income restrictions. https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/30/fact-sheet-president-biden-announces-new-actions-to-provide-debt-relief-and-support-for-student-loan-borrowers/

>To protect the most vulnerable borrowers, the Department is creating a temporary “on-ramp” to protect borrowers from the harshest consequences of late, missed, or partial payments for up to 12 months. While payments will be due and interest will accrue during this period, interest will not capitalize at the end of the on-ramp period. Additionally, borrowers will not be reported to credit bureaus, be considered in default, or referred to collection agencies for late, missed, or partial payments during the on-ramp period. Future monthly bills for borrowers not enrolled in an income-driven repayment plan will be automatically adjusted to reflect the accrued interest during those months.

>Borrowers who can pay should do so, but this on-ramp period gives borrowers who cannot make payments right away the necessary time to adjust, enabling them to ultimately make their monthly payments and meet their financial obligations on their loans. Borrowers do not need to take any action to qualify for this on-ramp.

[Anonymous No.55524898]

>>55524805
I understand what accrued interest is but what does it mean when they say it won't capitalize? Thanks for the link btw.

[Anonymous No.55524993]

>>55524898
if it capitalizes, it means they're adding any unpaid interest to the loan balance and multiplying it by the interest rate. if it doesn't capitalize, the interest is in a separate "bucket" and they calculate interest due on the principal amount unpaid interest still racks up, but it's not multiplied by the interest rate -- unless you do something to cause capitalization.

i believe that missing a single payment can trigger capitalization which is a very bad thing if e.g. you have $50k principal and $20k of uncapitalized interest.

if you have an average interest rate of 5% that would be roughly
$50k principal x 5% = $2500 in interest payments a year
vs
$50k principal + $20k interest capitalized = $70k x 5% = $3500 in interest payments a year.

[Anonymous No.55525080]

>>55523971
Pay, criminal
>t-the guys who gave me money are the criminals
True, criminal
>>55524318
They don't go up
Americans are illiterate and they say "fuck it, i won't pay because i'm le free and can do wathever i want" and their debt increases

He should start saving 1600 per month to reduce the pain in October

[Anonymous No.55525111]

>>55523971
>1,700 per month
>Only 15 years to go bro!

Just leave the fucking country at that point

[Anonymous No.55525173]

>>55524247
thanks for my section 8 apartment, food stamps, LIEAP, and free Internet. I really am living my best comfy NEET life. Unless you have a sugar baby or decent wife prospects, you should join me, but either way thanks for the UBI

[Anonymous No.55525195]

>>55525080
They do go up if you sign up for the graduated extended repayment option, my dear friend

[Anonymous No.55525201]

>>55525173
My wife-to-be is also a doctor but luckily has much lower student loans than I do.
>>55525173
You're welcome!! It's my pleasure, honestly.

[Anonymous No.55525743]

>>55524439
>I could pay them cash out of my checking account right now if I wanted to
What is the apy on your school loans, if its 6% or less. Dont pay it off, keep that 300k in market and let it gain 6-10% a year. At end of every year pay it down some more. Didn't get great market returns? Pay loans down more and you save on the interest cost. Think of it this way, would you pay cash for a 300k home, 600k home? Or just put 5% down and let your money ride in the market. Rates also don't matter as much if you pay it down every year. Just play with a mortgage/loan calculator. Who knows what is going to happen with school loans so paying anything down now is a bit retarded. Interest will only start to accrue this year. You are a waggie, you make money from wages that gets taxed to hell. You need to be making money off of assets and capital gains. These taxes are capped. I paid 50k in taxes last year shit is so fuckin gay.

[Anonymous No.55525840]

> $310,000 in student loans

We are going to witness the collapse of the century within our lifetime. Not pointing out OP in particular because I know there is a huge number of zoomers and millennials with the same problem. God help us

[Anonymous No.55526086]

>>55523971
Refinance with a lower apr

[Anonymous No.55526102]

>>55524461
>doctor
>dickhead
Checks out

[Anonymous No.55527369]

>>55523971
>310k

Medical school doesn't cost that much. You wanted to max out the loans. Take all the money you could get. Live in a fancy apartment by the university. Drive a BMW. You wanted to live beyond your means. Now you have to pay.

I saw faggots like you when I was in law school. They graduated with 250k in loans. I graduated with 67k. I lived in slummy places and had the shittiest car in the parking lot. I still got laid more than them. They were pretentious faggots then and they have no life working for big law now. I'm cozy with my private practice and good work/life balance. You wanted to be a big shot. That's the life you chose.

[Anonymous No.55527406]

I know the OP isn’t a doctor but I’m too lazy to type it out. Just want to point out how cringe the larp is.

[Anonymous No.55527648]

few ways...

1) strategically default. literally just do not pay. if these are fed loans you will be cucked eventually and threatened to sue/sued for full amount + court/attorney/collection fees. if you go this route they can garnish wages which depending on the state you live in can be substantial.

2) debtmax and take out as many CC's / personal loans as you can. if you have a 750+ and already established history hopefully you can get a combined credit line close to the amount you owe. you may be able to negotiate a settlement for less than the full amount owed depending on the servicer. part 2 of this plan involves filing for chapter 11 or 13 bankruptcy depending on the assets that you own

3) PSLF - public student loan forgiveness. work in approved job and make payments for 10 years, at end of term the balance remaining is "forgiven" and current laws state there is a massive tax bomb on the forgiven amount.

4) accept the wage slave life, be a good goy and pay balance + interest + tip and eventually pay it off

5) pay a small monthly amount for the rest of your life and pray for some type of law gets passed/changed like what they just tried to do.

[Anonymous No.55527673]

>>55523971
>I also make more than enough to pay the loans; I could pay them cash out of my checking account right now
I don't understand this. You took the money to get a job where you make significantly more than the average American. Either pay it back or quit and live like a pauper. Why should you be given a third option?

[Anonymous No.55527701]

>>55523971
$310,000 in fucking student loans? Holy shit wtf did you study law or medicine?

[Anonymous No.55527718]

>>55524461
Larp

[Anonymous No.55527719]

>>55524247
>waaaah you fund the entirety of the bulk of the cost of medical school through your taxes
>waaah yes the entire system is set up so that I can milk people and health insurance for big dollars and not make as much as a europoor doctor
>n-noo you’re all the leaches

I can’t wait until healthcare socializes in the US and career doctors get shafted in the ass

[Anonymous No.55527733]

>>55524247
>Invest $300k to get a high paying job
>Want to not pay back debt even though you got the job
Hello Dr. Goldberg!

[Anonymous No.55528559]

>>55527406
this
/threaf