Author Topic: a trad Catholiucs attitude towards student loans (Read 2016 times)

jman123 · « **on:** July 22, 2013, 07:23:17 PM »

Many people say that their student loans are preventing them from having a family. Student loans are in my opinion anti family. In a Catholic State I don't think they would be allowed. Many other posters on this board I see know what this problem is like.

I know a Traditional Catholic is 26 and has 100,000 dollars in student debt.

He came to Tradition in his senior year.

He told me that starting a family with that salary is all but out of the question. He works but only makes 38,000 Dollars a year.

He feels called to the married state.

How could he support a family in this predicament?

What should I advise him.

7sorrowsbvm · « **Reply #1 on:** July 22, 2013, 07:49:38 PM »

This story is as sad as it is common. Regrettably, I cannot suggest how to advise him. I do know one or two financial professionals who might have interesting perspectives. If so, I'll will post again.

I just wanted to add to your example. I knew between 20 and 50 men and women who studied law then did not practice, then realized the duties of their state in life. Also, I knew men who married professional women with college loans for medical school, then hired nannies and had them return to work. In one case, the woman promised to work free for four years to clear debt. They conceived, and she had to go back to work.

I don't think one could argue that they don't owe the money. Still, in my grandparent's day, financial difficulties were often resolved by living with extended family.

Frances · « **Reply #2 on:** July 22, 2013, 08:35:31 PM »

That's because in grandpa's day, people HAD extended family with whom to live!

jman123 · « **Reply #3 on:** August 03, 2013, 12:23:00 PM »

This poor man is downing in debt. He might not be able to pay it all back ever.

Iuvenalis · « **Reply #4 on:** August 03, 2013, 12:43:34 PM »

The US is in decline, so trads in general should be looking for the right *country* to live in (not just state).

Default on the student loans and leave the US. There are places that are better to raise a family anyway.

jman123 · « **Reply #5 on:** August 03, 2013, 12:47:18 PM »

Quote from: Iuvenalis

The US is in decline, so trads in general should be looking for the right *country* to live in (not just state).

Default on the student loans and leave the US. There are places that are better to raise a family anyway.

Which country Russia?

Ambrose · « **Reply #6 on:** August 03, 2013, 12:49:39 PM »

The best way to avoid student loans is to go to a community college or trade school run by the state. Avoid most private colleges and trade schools.

The only exception to this is that if you are certain you have the intelligence and skills to get through a specialized program, such as medical school, then it might be worth it to get the loans, since the pay will be very high when you finish.

Iuvenalis · « **Reply #7 on:** August 03, 2013, 01:07:29 PM »

Quote from: Ambrose

The best way to avoid student loans is to go to a community college or trade school run by the state. Avoid most private colleges and trade schools.

The only exception to this is that if you are certain you have the intelligence and skills to get through a specialized program, such as medical school, then it might be worth it to get the loans, since the pay will be very high when you finish.

I think this second paragraph is quite important.

People need to start being a little more realistic about their abilities and intelligcence.

Unfortunately, so many American kids are raised with the idea that they are all 'special' and unique snowflakes they are all narcissists.

Try telling the typical parent now that their kid won't be in an 'advanced' class/program.

Local schools here have several 'advanced' programs, such that 75-80% of enrollment are in one of these programs. Think about that: 75-80% of the student body are above average? LOL

Then they all go to universities thinking they are going to havve a lucrative career or are 'special' and it makes obvious sense to them to go 100K in debt on a sociology degree..

Iuvenalis · « **Reply #8 on:** August 03, 2013, 01:08:45 PM »

Quote from: jman123

Quote from: Iuvenalis
The US is in decline, so trads in general should be looking for the right *country* to live in (not just state).

Default on the student loans and leave the US. There are places that are better to raise a family anyway.

Which country Russia?

Lets open up the topic to the forum members. What does everyone think?

10 years ago your average trad would have said Malta but now the godless EU has gotten their hooks unto Malta and legalize abortion etc

Tiffany · « **Reply #9 on:** August 03, 2013, 03:37:29 PM »

I think they are forgiven after 25 years on the income based repayment plan. You just have to remember to file the proper form with the IRS too. There are 10 year forgiveness plans too if they work in certain fields.

shin · « **Reply #10 on:** August 03, 2013, 04:07:22 PM »

I agree, parents have too high expectations of their "precious" (too few) children. Many think badly of Community colleges because they're not more 'elite'.

I do not think however it is normally possible to escape payback of student loans. As far as I can tell, you're stuck once you have them -- other loans you can have bankrupcy with, but student loans?

Can moving to another country really even escape them?

d15 · « **Reply #11 on:** August 03, 2013, 05:12:15 PM »

The problem is not the student loans, it is the exhorbinant tuition rates that most private universities charge, especially when the salary that results from a college education is meager at best.

17 and 18 year olds MUST understand that an education from a private university, financed by student loans, is a recipie for disaster these days. And that is only from a financial perspective. Never mind the lacks of morals at most universities.

Iuvenalis · « **Reply #12 on:** August 03, 2013, 05:40:58 PM »

Quote from: shin

I agree, parents have too high expectations of their "precious" (too few) children. Many think badly of Community colleges because they're not more 'elite'.

I do not think however it is normally possible to escape payback of student loans. As far as I can tell, you're stuck once you have them -- other loans you can have bankrupcy with, but student loans?

Can moving to another country really even escape them?

You can have a student loan included in a bankruptcy judgment if it is 'insurmountable'...any many are. As with many things, it ultimately depends on the judge.

jman123 · « **Reply #13 on:** August 03, 2013, 07:32:51 PM »

Quote from: shin

I agree, parents have too high expectations of their "precious" (too few) children.

College education also limits the amount of children a family could have due to the expectation that all go to college and it is extremely expensive. You have a point.

Tiffany · « **Reply #14 on:** August 03, 2013, 09:05:07 PM »

Quote from: Iuvenalis

Quote from: shin
I agree, parents have too high expectations of their "precious" (too few) children. Many think badly of Community colleges because they're not more 'elite'.

I do not think however it is normally possible to escape payback of student loans. As far as I can tell, you're stuck once you have them -- other loans you can have bankrupcy with, but student loans?

Can moving to another country really even escape them?

You can have a student loan included in a bankruptcy judgment if it is 'insurmountable'...any many are. As with many things, it ultimately depends on the judge.

It depends more on the district and it takes an adversarial hearing, you can't include them in a normal bk filing. It's like IRS or child support arrears.
Them being insurmountable does not mean you can get a favorable ruling.