Student Loans have entered the chat.
I don’t think so, or at least is state dependent, I definitely had medical debt and it was definitely discharged along with all the other debt I had
Yeah medical debt is dischargable, our lawyer asked if we had any surgeries we had been putting off that we might want to get done before we filed.
In my country that isn’t a thing. Everybody has to have private insurance and if they can’t afford it, the State subsidizes it.
And if somehow you get something done that isn’t covered by the insurance, they can’t pursue you for that debt and it doesn’t show up when doing things like getting a lease.
It’s not perfect (insurance costs a ton and keeps rising) but at least it’s not some dystopian nightmare where people can’t afford to get care in one of the World’s top economies.
Money you have to take out for college and then pay back at 10% interest.
I’m sorry is this an I-love-getting-fucked-in-the-ass thing that I’m too Scottish to understand?
Imagine being inside a month😵💫
I got talked into bankruptcy (by a bankruptcy lawyer, surprise surprise). It cleared $12k of credit cards and bank fees but not the then-$50k of student loans and the spending habits that were the real problem. Now I learned my lesson. No credit cards. Save up and pay. Have an emergency fund that can cover your expenses for months and months in the event you lose your job, or your most expensive unplanned repair. That’s the real life saver.
Credit cards are fine for people who can control their spending. I never pay interest, so I get my rewards for free and am building my credit. If you cannot control your spending habits, you might consider a card with a low limit.
You mean you never pay interest by paying off the debt before the next billing cycle, right? Or is it fine to get zero interest for whatever amount of months on certain purchases?
We do both… both are fine. As long as you aren’t paying fees or interest, there is no disadvantage to using credit cards.
Personally, I pay off before next billing cycle. However, I have been fortunate with my finances. I know friends of mine who carry credit card debt, and they have successfully managed to balance transfer from one card to another using periodic balance transfer deals that let you transfer all your debt from one credit card to another with a 0% interest rate for 12 months or so. They have managed to do this for years.
So there are definitely a variety of options!
I used to feel this way with 2% cash back, but I don’t think it’s worth the privacy loss of giving a for-profit corporation all of my spending data. Where I live now, almost no one accepts credit cards in person & if they do, there’s a high minimum payment & you will be paying the transaction fee. After getting used to carrying cash again, I can confidently say I prefer the anonymity. What weirder in hindsight is many other places either not accepting cash or baking the credit fees into the prices so it’s cash payers getting screwed—meanwhile the credit companies get to skim fixed costs while providing minimal value.
In France after high school you pay 170€ the first 3 years the 243€ the next two, 100€ more each year if you don’t have aides from the government. Some engineering schools (~600€) or private schools are more expensive.
That’s a total of 1496€ for a 5y curriculum at most, if you don’t have any aides. (810€ for a shorter 3y one)
For reference the monthly minimum wage is 1398.69€ (without tax).
So if you work two months at McDonald’s you can literally pay your entire education with enough room to spare if you didn’t pass some years.
(Engineering schools is more but it isn’t crazy either)
That’s without any help, but we have some cheap apartment specifically for students, help to pay the rent. And in addition to this you can get a sizable amount depending on the income of the parents, sometimes enough to live on.
So why in the hell would you pay 50k. That’s 33 times as much, guys just come to France, or the EU and your set lol
Everything you’ve said only stands for public university (which is better than private schools however). In the private world, you’re looking at ~10000€ a year.
So why in the hell would you pay 50k. That’s 33 times as much, guys just come to France
I believe it’s more expensive for foreigners to study in France now. You’re looking at ~3000€ per year IIRC.
Ho yes you’re right!
It used to be the same but they increased it in 2019. They passed a reform with a lot of changes to the whole education system (including high school which add a lot of changes).
The reform was pretty bad for a lots of reasons.
Should have thought of it, every university went on strikes for it, including mine (I was just on year 1).
They passed it anyway…
So yes now its 2770€ for the first 3y and 3770€ the next 2. Granted that’s still cheaper, 15,850€ total but that’s only 3 times more expensive, not as crazy.
P.S. Private school can be good especially in some fields, but they’re also a bit prestigious too. And 10k is a pretty good approximate i believe.
Your textbook is enough to pay for all of our education.
Did no one thought about having a library for that lmao.
P.S. Or more seriously on putting the material online.
The real cost is in living expenses though. A lot of kids still end up with 20-40k of loans after 3-5 years in school living on their own.
Sure, most people i know either have parents to help them, including some fund they made them, or get the aides for students (including cheaper and small apartment, help to pay the rent, cheap meal at campus and scholarship). Some have a mix of both like me.
It’s often a bit short anyway, it isn’t luxurious, but we deal with it, i never met someone that took a loan as a solution though.
But we still have living expenses in the US too, on top of the outrageous tuition costs. My bachelor’s degree cost $58,000 but during those 4 years I also worked two jobs just to pay for rent and food and keep my car working. I’ve been out of college for over 10 years btw and still owe $40k in student loans.
How has bankruptcy affected you when you’ve gone to apply for things? Has there been any real long term effects when you apply for like a house or car loan?
I was able to get a car loan a few years after the bankruptcy. It was dumb, I hadn’t fully figured out my money situation yet. Bankruptcy didn’t fix that spending habit. But that was the tipping point. When my minimum expenses between the car, student loans, and living expenses exactly equaled my salary, I started trying to beat my way out of the mess. The car I currently own, I paid for up front. By the time I bought a house, the bankruptcy had disappeared off my report. Now the plan is pay off the mortgage and never have a credit score again.
Nice Try Rudy. Pay your debts.
“I declare BANKRUPTCY!!!”
