The Student Loan Recession - Coming 2024
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Top Comments (10)
Join me on my first Investor Summit on August 15, 2023! Register for free here: https://briefs.finance/2eb652 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Good thing I've been paying this entire time. With the interest freeze, I took the opportunity to attack the principle.
Never assume any debt will be forgiven ever.
Difference is that students are on the hook for loans and can’t default. But the concept is the same, people not used to the payments are going to spiral
I believe it, grocery bills and energy costs have increased so much over the past 3 years that most of the cushion is gone. I'm pretty sure this will break a lot of people.
Watch them bankruptcy rates rise. Between PPP loans. High interest rates, student loan repayments restarting, high credit card debt and people dipping into 401k’s. Something is going to shake.
Paid off my student loans over a decade ago. I drank the higher learning education Kool-Aide equals a better paying job. Total gamble, nothing but lies. Took me almost a decade to get on track-I focused on making money.
Don't panic, prepare. Put down your smart phone (unless it can make you money) - get a second job or upgrade your first job. Think certifications. I moved in with my partner a few months back - and although the place leaves much to be desired - we will make it as nice as we can on a budget - and hunker down for a couple years until we can buy. My student loans are in the average range (just under $500) - but that can easily be covered by eating out less and making due making nice meals at home. The more proactive you are during a recession - the further ahead you will be from most that fell into despair and lost time
My wife still has some small loans, my family is fortunate, we’re going to pay them off Sept 1st. I knew this was coming and we saved enough over the past year to pay them off completely. I feel bad for the families that are about to get rekt.
I find the whole thing insane. Look at the size of the automobile debt! At least with student loans and housing you are investing in your future self, but with automobile debt you might as well be chucking cash on a bbq and lighting it.
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Top Comments (10)
Join me on my first Investor Summit on August 15, 2023! Register for free here: https://briefs.finance/2eb652 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Good thing I've been paying this entire time. With the interest freeze, I took the opportunity to attack the principle.
Never assume any debt will be forgiven ever.
Difference is that students are on the hook for loans and can’t default. But the concept is the same, people not used to the payments are going to spiral
I believe it, grocery bills and energy costs have increased so much over the past 3 years that most of the cushion is gone. I'm pretty sure this will break a lot of people.
Watch them bankruptcy rates rise. Between PPP loans. High interest rates, student loan repayments restarting, high credit card debt and people dipping into 401k’s. Something is going to shake.
Paid off my student loans over a decade ago. I drank the higher learning education Kool-Aide equals a better paying job. Total gamble, nothing but lies. Took me almost a decade to get on track-I focused on making money.
Don't panic, prepare. Put down your smart phone (unless it can make you money) - get a second job or upgrade your first job. Think certifications. I moved in with my partner a few months back - and although the place leaves much to be desired - we will make it as nice as we can on a budget - and hunker down for a couple years until we can buy. My student loans are in the average range (just under $500) - but that can easily be covered by eating out less and making due making nice meals at home. The more proactive you are during a recession - the further ahead you will be from most that fell into despair and lost time
My wife still has some small loans, my family is fortunate, we’re going to pay them off Sept 1st. I knew this was coming and we saved enough over the past year to pay them off completely. I feel bad for the families that are about to get rekt.
I find the whole thing insane. Look at the size of the automobile debt! At least with student loans and housing you are investing in your future self, but with automobile debt you might as well be chucking cash on a bbq and lighting it.