One of the many dangers of Cosigning on someone else's loans

[narum]

YOLO
 

 

[ooiron manoo]

It's totally fair to question natural causes. There's no such thing for a 24 year old - they would be expected to live considerably longer. I guess they're trying to say that he wasn't murdered or a drug addict or something - but they failed.
Natural causes would be a 75 year old just dieing in their sleep. In a 24 year old that would automatically trigger investigation because it doesn't imply natural.

If you have a bad ticker, you can die in your sleep at any age. Someone else already stated, pro athletes that have passed all of a sudden, most passed away due to enlarged hearts. It happens. Brain aneurysms while not common, also happen.

About 5 years ago, i cosigned for my Dad on his FJ Cruiser, he lost his job and the car got repoed.

39k left in payments, i want to buy a house but that repo alone is ******g me up even having almost 700 credit score.

FJ for 39k

Couldn't you just take it off his hands? Sell it and just pay whatever is on top as opposed to the 39k w/o the truck?

Srs question...

Damn Ronnie.

 

[degenerate423]

There are multiple flaws in this line of thinking. While 4 year college costs are rising drastically, community colleges are still VERY affordable. But most people don't want to consider that route because they won't be the "experience". By going to a CC, you can easily get most of the GE classes out of the way without paying several thousand per unit. Secondly, most students in college would rather take out loans instead of take on a part time job to help pay for it so they can "focus on school". Most of us that have been through college know that the are very few people who don't work that actually spend the time focusing on school that we think we do. Instead, it's all about parties and hanging out with friends and finding girls. The irony is that those who actually take on a part time job during school actually have higher GPA's on average and learn better time management.

While I think CCs are a viable option instead of going straight to a 4-year, especially if you don't know what you want to do, but times are changing.  It's tough to get classes with the amount of kids attending CCs, at least where I live, and some kids lose the desire to go to school and opt to work instead.  I have friends that should be seniors in college, but are still at CCs trying to fulfill the classes for a guaranteed transfer to a UC.  Sure, I'll have more in loans to payback than they will, but I'll be done with school before them and, hopefully, have a decent job.

I'm just curious, for those that wouldn't sign their kids' school loans, are your parents immigrants?  Mine are, and they didn't hesitate to sign my school loans, so I figured it's just something parents do.  But I have friends whose parents were born in America and they didn't want to sign their loans neither, so I'm really curious if it's an American thing or what

.  I'm American btw...

 

[ninjahood]

student loans = da new housin bubble only worse.

you can't escape student loans when you declare bankruptcy, it follows you to your grave.

 

[sreggie101]

It's his mother though, for a loan that would have and could have bettered his life. I would cosign on my child's student loans (if I couldn't afford to send them through school) without hesitation

agreed. if you are a parent and you think its perfectly fine to let your kids swim on their own in a time when education costs are rapidly rising, at a greater rate than incomes... fine do you.


but if my kid who will obviously have no credit, needs a loan, allowing him to go to a great school, why the **** wouldn't i support my own child and cosign. if my credit makes that much of a difference, you could only be a bad parent by not cosigning. WITH THAT SAID, ima make damn sure my kid doesn't graduate in some bullsht *** major that has damn near 0 chance of getting a job. period.

There are multiple flaws in this line of thinking. While 4 year college costs are rising drastically, community colleges are still VERY affordable. But most people don't want to consider that route because they won't be the "experience". By going to a CC, you can easily get most of the GE classes out of the way without paying several thousand per unit. Secondly, most students in college would rather take out loans instead of take on a part time job to help pay for it so they can "focus on school". Most of us that have been through college know that the are very few people who don't work that actually spend the time focusing on school that we think we do. Instead, it's all about parties and hanging out with friends and finding girls. The irony is that those who actually take on a part time job during school actually have higher GPA's on average and learn better time management.

i have an issue with this response. CCs are very affordable, and depending on where you are banging out GE classes there and transferring to a university to tackle major classes seems like the smart thing to do (at least in restrospect imo). College experience aside, there are problems with that. First, not every university will accept transfer credits. it really depends on the relationship with said CC otherwise you'd have to call in advance to see if those credits would transfer over. At the end of the day, CC credits is money lost. Second there the issue of location. Sometimes transferring to another state after CC leaves you with time wasted and useless credits as the university can reject it. Its kind of technical, and really works on a case by case basis, but its not always the right path to go is what im getting at.

Working through college to help pay...lets be cereal. Working thru college ain't gonna put much of a dent in your tuition if you're going to Northeastern U for example. Hell i went to Temple, and there is no way i could fit a full time schedule of school AND work to help pay for tuition. It can't be done. Period. No one wants to take on loans, but you don't have much of a choice in this american education system. Working thru college WHILE aiming to graduate in 4 yrs is impossible. very little tuition will be paid off, but worse, you'll only end up tiring yourself out.

my gf worked full time during our time in college together and she made rent all the time, but she wasn't putting a dent in her tuition. And she was full time student. She still has dumb high loans and she had full financial aid with some scholarships.

Additionally, if you have a difficult major, say engineering, that lifestyle just isn't feasible.

There are multiple flaws in this line of thinking. While 4 year college costs are rising drastically, community colleges are still VERY affordable. But most people don't want to consider that route because they won't be the "experience". By going to a CC, you can easily get most of the GE classes out of the way without paying several thousand per unit. Secondly, most students in college would rather take out loans instead of take on a part time job to help pay for it so they can "focus on school". Most of us that have been through college know that the are very few people who don't work that actually spend the time focusing on school that we think we do. Instead, it's all about parties and hanging out with friends and finding girls. The irony is that those who actually take on a part time job during school actually have higher GPA's on average and learn better time management.

While I think CCs are a viable option instead of going straight to a 4-year, especially if you don't know what you want to do, but times are changing.  It's tough to get classes with the amount of kids attending CCs, at least where I live, and some kids lose the desire to go to school and opt to work instead.  I have friends that should be seniors in college, but are still at CCs trying to fulfill the classes for a guaranteed transfer to a UC.  Sure, I'll have more in loans to payback than they will, but I'll be done with school before them and, hopefully, have a decent job.

I'm just curious, for those that wouldn't sign their kids' school loans, are your parents immigrants?  Mine are, and they didn't hesitate to sign my school loans, so I figured it's just something parents do.  But I have friends whose parents were born in America and they didn't want to sign their loans neither, so I'm really curious if it's an American thing or what .  I'm American btw...

haitian parents. they paid outta pocket for my education.

 

[nothingbefore]

just stop paying them

i would

 

[mojodmonky1]

just stop paying them

i would

student loans = da new housin bubble only worse.

you can't escape student loans when you declare bankruptcy, it follows you to your grave.

if you wanna live that cash and carry lifestyle forever, never want to own property in your name or have a bank account in your name, then go for it.

I call it the Rocky V approach when Rocky presses up on Duke and his go to line is "Touch me, I'll Sue". Rocky lights him up anyways and says "Sue me for what?"

They cant go after you if you have nothing to go after.

 

[crcballer55]

i have an issue with this response. CCs are very affordable, and depending on where you are banging out GE classes there and transferring to a university to tackle major classes seems like the smart thing to do (at least in restrospect imo). College experience aside, there are problems with that. First, not every university will accept transfer credits. it really depends on the relationship with said CC otherwise you'd have to call in advance to see if those credits would transfer over. At the end of the day, CC credits is money lost. Second there the issue of location. Sometimes transferring to another state after CC leaves you with time wasted and useless credits as the university can reject it. Its kind of technical, and really works on a case by case basis, but its not always the right path to go is what im getting at.

Working through college to help pay...lets be cereal. Working thru college ain't gonna put much of a dent in your tuition if you're going to Northeastern U for example. Hell i went to Temple, and there is no way i could fit a full time schedule of school AND work to help pay for tuition. It can't be done. Period. No one wants to take on loans, but you don't have much of a choice in this american education system. Working thru college WHILE aiming to graduate in 4 yrs is impossible. very little tuition will be paid off, but worse, you'll only end up tiring yourself out.

my gf worked full time during our time in college together and she made rent all the time, but she wasn't putting a dent in her tuition. And she was full time student. She still has dumb high loans and she had full financial aid with some scholarships.

Additionally, if you have a difficult major, say engineering, that lifestyle just isn't feasible.

Let's be honest here... Most kids going to the school of their choice shouldn't be there because they haven't planned accordingly. That's why the average graduate is $27,000 in debt when they walk across that stage and keeps their student loan debt around for 15 years. You're trying to fit the argument to fit your situation. Northeast & Temple are two private schools that cost over $40K/yr. to attend. The reason they are able to charge that is because kids "need" to go there. This is why we had the Occupy movement because kids and parents didn't calculate the cost of the education and various ways it could be achieved. Could that same student have gone to Penn St. or U Mass for a fraction of the price and gotten a similar education?

I too graduated from a private school. I also went to a CC and took some classes that weren't accepted. Instead of taking them again for $2000/unit, I went down the street to the local CC and took it for $100/unit instead. I also worked my final two semesters of school and cash flowed my education and living expenses.

If you have the mentality that you must take out loans, then you'll have much more student loan debt when/if you graduate. If you take on the mentality that you're going to go through school and cash flow it, you'll work hard to make that goal happen.

 

[shatterkneesinc]

education the business, is the world's biggest scam

 

[ooiron manoo]

education the business, is the world's biggest scam

Completely disagree on the second part. The first part is a given, but they don't hide that from you.

There are many ways to save money on tuition, even at private schools, however students don't take advantage of it. Also going to these private institutions is a privilege not a right. If you can't afford it there are cheaper option out there. There are also tons of work-study/job opportunities on campus that students don't take advantage of. They want to live that college life.

It teaches you life's biggest lesson regarding debt, enjoy it now, pay for it later.

That's why you get the threads on NT sometimes, "Just graduated from college cant find a job because companies want 3-5 years experience. How am I supposed to have experience, I was in school" . Internships, work study, part time jobs, volunteer opportunities... that's all experience you can put on your resume. Oh too busy playing beer pong and skipping class... lulz

 

[ill steelo]

That's why you get the threads on NT sometimes, "Just graduated from college cant find a job because companies want 3-5 years experience. How am I supposed to have experience, I was in school" . Internships, work study, part time jobs, volunteer opportunities... that's all experience you can put on your resume. Oh too busy playing beer pong and skipping class... lulz

There it is.

 

[crcballer55]

education the business, is the world's biggest scam

Completely disagree on the second part. The first part is a given, but they don't hide that from you.

There are many ways to save money on tuition, even at private schools, however students don't take advantage of it. Also going to these private institutions is a privilege not a right. If you can't afford it there are cheaper option out there. There are also tons of work-study/job opportunities on campus that students don't take advantage of. They want to live that college life.

It teaches you life's biggest lesson regarding debt, enjoy it now, pay for it later.

That's why you get the threads on NT sometimes, "Just graduated from college cant find a job because companies want 3-5 years experience. How am I supposed to have experience, I was in school"

. Internships, work study, part time jobs, volunteer opportunities... that's all experience you can put on your resume. Oh too busy playing beer pong and skipping class... lulz

My sentiments exactly. I don't know how many people I went to school with that messed around the whole time and now they're complaining about their student loans.

If you're a parent, you only need to invest $100/mo. over 18 years to have $100,000 towards your kid's college education.

 

[mojodmonky1]

My sentiments exactly. I don't know how many people I went to school with that messed around the whole time and now they're complaining about their student loans.

If you're a parent, you only need to invest $100/mo. over 18 years to have $100,000 towards your kid's college education.

thread derail, but how can i invest $100/mo over the next 18 yrs and have $100K to put towards my childs education? dead serious. wife is preggers with my first on the way, and the least i can do is make sure that they can get a solid college education. damned if i'm going to take out any loans on their behalf, i want to pay for that education with cash money.

education the business, is the world's biggest scam

Completely disagree on the second part. The first part is a given, but they don't hide that from you.

There are many ways to save money on tuition, even at private schools, however students don't take advantage of it. Also going to these private institutions is a privilege not a right. If you can't afford it there are cheaper option out there. There are also tons of work-study/job opportunities on campus that students don't take advantage of. They want to live that college life.

It teaches you life's biggest lesson regarding debt, enjoy it now, pay for it later.

That's why you get the threads on NT sometimes, "Just graduated from college cant find a job because companies want 3-5 years experience. How am I supposed to have experience, I was in school" . Internships, work study, part time jobs, volunteer opportunities... that's all experience you can put on your resume. Oh too busy playing beer pong and skipping class... lulz

dammit IronMan, even though youre an SC guy, you seem like a good dude hahaha

 

[crcballer55]

My sentiments exactly. I don't know how many people I went to school with that messed around the whole time and now they're complaining about their student loans.

If you're a parent, you only need to invest $100/mo. over 18 years to have $100,000 towards your kid's college education.

thread derail, but how can i invest $100/mo over the next 18 yrs and have $100K to put towards my childs education? dead serious. wife is preggers with my first on the way, and the least i can do is make sure that they can get a solid college education. damned if i'm going to take out any loans on their behalf, i want to pay for that education with cash money.

If you want something really simple... Index funds. You might lose a couple points on the market, but in the end, you'll only invest $21,000 and see growth on each amount invested over the next 18 years. Throughout my funds, I invest in 4 different types of funds. Small Cap/Medium Cap, Large Cap, Dividend funds, & International.