Not sure why they report on one person doing this… isn’t this the norm?
40-year-old delivers for DoorDash to help pay down her $100,000 student loan debt—on top of her full-time job
Submitted 6 months ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
Comments
TimewornTraveler@lemm.ee 6 months ago
Maggoty@lemmy.world 6 months ago
This is CNBC. This series exists to gaslight people about their finances and the economy. In this article they have normalization of hustle culture and admonishment of her getting a degree based on passion instead of ROI.
In the past it’s been used to gaslight readers into thinking their budget problems are solely due to their own inadequacy. They do this by highlighting people who are usually in marginal areas, like disabled people, and show how they make their budget work. Every single article has something like, “lives rent free with parents” somewhere in there. Others have straight up given ridiculous numbers for rent and utilities.
LifeOfChance@lemmy.world 6 months ago
It’s absolutely the norm. I work with loads of people who jumped ship on their degree because they couldn’t find good enough pay in the field. I’d say maybe 40% of my team is in this situation most of them over 35. One of the younglings gave up after his first semester after researching his FOS and learning he didn’t stand a fincial chance. It’s pretty fucking sad honestly. Great kid with nothing but ambition and hard work to give.
gravitywell@sh.itjust.works 6 months ago
I will never understand why people work so hard to pay off student loans… I know people who do and people who don’t and it seems like the people who don’t pay them tend to actually have much better credit or at least are better at managing their finances. If you’ve been paying off a loan for years and the balance just keeps going UP, the sensible thing to do is default on the loan, accept the consequences of that (which is minimal with student loans) and move on with your life
kungen@feddit.nu 6 months ago
I thought one of the big problems with America’s student debt was that you can’t effectively default on it? That it will still persist even after filing for bankruptcy for example?
Fredselfish@lemmy.world 6 months ago
And guess who is president and responsible for that?
gravitywell@sh.itjust.works 6 months ago
By default I just mean stop paying. You can’t get rid of the debt by bankruptcy or anything, but it also doesn’t affect peoples credit score as much as many seem to think it does.
Fester@lemm.ee 6 months ago
You can’t escape student loan debt by default, bankruptcy, etc.
The best thing you can do is sign up for IBR and accept that 5% of your income is lost for 20 years, and hope that whoever is president at that time isn’t a sadist cunt. Also try to save some extra money for possible income tax on the forgiven amount.
That’s assuming your loans are subsidized. If they’re private, try delivering for DoorDash on the side!
gravitywell@sh.itjust.works 6 months ago
I’m saying you can stop paying, Im not saying you won’t still owe them, but I know people who owe tens of thousands in student loans and have not paid them a cent in over ten years, they have a credit score of around 800, its never affected their ability to get any kind of credit or housing.
I think people over estimate how important they are or what kind of consequences there are for not paying as if it ruins your credit score forever or something.
BruceTwarzen@kbin.social 6 months ago
Or just flee to a developed country
Kecessa@sh.itjust.works 6 months ago
Yep, learn to do something in high demand, move the fuck out and don’t look back.
roofuskit@lemmy.world 6 months ago
You can’t.
JiveTurkey@lemmy.world 6 months ago
You can’t do this with student loan debt which seems incredibly dumb. I also don’t understand borrowing 100k for school.
Viking_Hippie@lemmy.world 6 months ago
I also don’t understand borrowing 100k for school
Other than the fact that college tuition has become absurdly expensive, the predatory fees and interest structures of student loans means that most people who have been paying theirs to the best of their ability for several years actually still owe MORE than the original amount borrowed, which I’m guessing is the case here.
The terms and conditions that people who are usually 17-18yo and know fuck all about contract law are coerced into agreeing to in order to “ever make something of themselves” would make Franz Kafka disown The Trial for being utopian sentimentalism in comparison.
fishpen0@lemmy.world 6 months ago
It’s not the original loan amount. The trap in student loans is the initial deferment when they gain interest while you aren’t paying and taking classes for 4-6 years. One of my loans was 14k and when I graduated had more than doubled. By the time it was paid off in my 30s the total sum I had paid in to interest was over 100k. And I was paying on an accelerated cycle for the last 5 or so years to kill it faster.
I had discovered with one of my servicers that they were applying my overpayment only to interest as well so the principal would not go down and keep generating new interest. This is actually illegal now thankfully
gravitywell@sh.itjust.works 6 months ago
You’re thinking of bankruptcy, you can absolutely stop paying student loans, you’ll still owe them but they can’t force you to pay them.
ripcord@lemmy.world 6 months ago
which is minimal with student loans
I like how you starter by not knowing that you couldn’t default, but then made it obvious you were just making things up (and not just being ignorant) with this statement.
gravitywell@sh.itjust.works 6 months ago
I know people who’ve defaulted on student loans, I’m not making anything up, you are assuming a lot
clearedtoland@lemmy.world 6 months ago
As a near 40 year old with the same amount of student loan debt, I have absolutely considered a part-time gig to help pay down the loans. But the amount seems so enormous, and the repayment would be so comparatively small, that the little free time with my family is far more valuable.
some_guy@lemmy.sdf.org 6 months ago
I thought no one wants to work anymore? /s
Surp@lemmy.world 6 months ago
Education is for becoming more and more just for the rich
HappycamperNZ@lemmy.world 6 months ago
One of the best things my country did was interest free student loans while you remained in the country.
Debt is alot more manageable without interest
FunderPants@lemmy.ca 6 months ago
Canada now has interest free student loans and very generous, flexible repayment schedules.
HappycamperNZ@lemmy.world 6 months ago
Ours are % of income above a threshold. Technically if you make less than that and stay in the country it goes up like $5 a year in fees.
My wife finished studying while we had our first kid and only worked 4 hours a week - student loan wasn’t touched till she went back to full time a few years ago.
sparkle@lemm.ee 6 months ago
In Norway, student loans are interest-free until you’re out of college.
Donebrach@lemmy.world 6 months ago
Most Federal loans in the US are the same (at least they were when I took them out nearly 20 years ago, problem is you are only in school for 4 years.
Then you get a shit paying job for at least 5 or 10 years after that—maybe you’re motivated enough to seek a masters or PHD after that but most aren’t (for the implied benefit of higher earnings, nothing else). Coupled with the fact that the cost to attend any higher ed in the US is outrageously overpriced to begin with, wages are stagnant, cost of living is beyond unaffordable pretty much everywhere in the states…
It’s just another facet of the capitalist hell system we’ve saddled ourselves with and continue to just shrug off as if there’s no other way to do things.
HappycamperNZ@lemmy.world 6 months ago
But this way companies make soo much interest
kandoh@reddthat.com 6 months ago
Your country damaged it’s economy by doing that.
You probably have college educated citizens who can work less the older they get because of the higher income they earned getting out of college. This means they’re less productive than the college educated Americans whose extra income is siphoned away through the interest from their loans, keeping them perpetually on the edge of poverty, and thus at peak productivity.
sebinspace@lemmy.world 6 months ago
Oh no, not the economy!
Also your whole argument is that older people aren’t being held at gunpoint, and younger people are having to do more work to earn far less than they did.
Your argument is that we should starve the dogs to keep them obedient.
Fuck right off
jonne@infosec.pub 6 months ago
I’m guessing this is sarcasm, but it’s uncomfortably close to how actual neoliberals think