TAC on Student Loans and Investing in Self

[TAC]

Never let he be misunderstood. Student loans are one of the best deals going. There is a warning though. That is, make sure what you're studying can carry your debt. For example, why borrow $50,000 to have a thousand dollar a month debt when you graduate for a job that won't pay you $800 a month (don't grill me on the math. Just making a point).

The rule is to treat the loans and college as a no lose situation, i.e., borrow, GRADUTE and get the job commensurate with the loans that were taken out.

I've done it twice and I would do it all over again if I had to.

I would like to add that contrary to popular misconception, some of the loans are actually federal loans that are adminstered by private entities that get a small fee.

Sooooooooooooo, ding bat, when you f*ck over the bank, you really f*cking over the Federal government itself. End result, they can simply shut you done.

In closing, returning to my main point, treat the loans as a long term investment in yourself. In this way, things should work out fine.

And so ends today's public service announcement.

Peace
TAC

[liL Ray]

f dat...I need to go to Negril...

[House]

f dat...I need to go to Negril...

bwahahahahahahahahaha

And 5 star at that - we got stress

[dYsKo]

"Never let he be misunderstood."

"The rule is to treat the loans and college as a no lose situation, i.e., borrow, GRADUTE and get the job commensurate with the loans that were taken out."

I think you may need another loan or two!!
Just giving you shit!!

[Doug]

Never let he be misunderstood. Student loans are one of the best deals going. There is a warning though. That is, make sure what you're studying can carry your debt. For example, why borrow $50,000 to have a thousand dollar a month debt when you graduate for a job that won't pay you $800 a month (don't grill me on the math. Just making a point).

The rule is to treat the loans and college as a no lose situation, i.e., borrow, GRADUTE and get the job commensurate with the loans that were taken out.

I've done it twice and I would do it all over again if I had to.

I would like to add that contrary to popular misconception, some of the loans are actually federal loans that are adminstered by private entities that get a small fee.

Sooooooooooooo, ding bat, when you f*ck over the bank, you really f*cking over the Federal government itself. End result, they can simply shut you done.

In closing, returning to my main point, treat the loans as a long term investment in yourself. In this way, things should work out fine.

And so ends today's public service announcement.

Peace
TAC

co-sign that.

[panklady]

Word. I work with grown-a** college learners who you'd think would know this madness...BUT NO...I get atleast 5 calls/month saying "where's my refund...my mortgage is due". WTF? Refunds are to go to educational expenses...

What do you look like at the end of your college career wearing hot haute couture, tripped out (taking trips & ish), rent/mortgage paid...with no money for the GOV'T.

One word: GARNISHMENT! That is, if ya get a job....

Common sense ain't common...

[BrazenMuse]

It's true...being practical isn't one of the things that people leave out when they take out loans. They are usually young people who aren't thinking about the long haul. I was one of them in my undergrad years. Worked a while, started paying them back...years later, I ended up going to graduate school and had to play the game again. I don't like the debt, but teaching high school may well allow me to get some debt forgiven in Jersey...so we shall see. But it is a real bill and it really has to get paid. Along with everything else.

Everyone can make mistakes early on. One needn't go on making them.

[Phyllis Hyman Cherry]

So the bottom line is i shouldnt take out a $60,000 loan to study Fine Arts at the new School?I see it everyday a friend has a MFA and is working at CVS.Loans have to be repaid she says at any cost,since she cant find a job as a curator or artist she has to do what she has to do.

[DJ Loka]

I'd like to add an argument AGAINST COLLEGE if I may. There are many many reasons why college didnt work for me...BUT


This doen't mean that one shouldn't INVEST IN SELF. It means that not everyone is cut out for the path that's presented as the holy grail. Investing in self also means that no one knows whats good for you BUT YOU.

For me investing in self meant:

- trusting my simple instincts (that looks like fun, i'll try that)

- finding a job that made me happy (i started out as a locker room attendant in a gym...why did i love that? i made $600 EXTRA/week selling locks/socks and energy drinks in there, and then i convinced them to train me to teach classes)

- loving it to the point of obsession (when you are obsessed with your work, it isn't work...it's LOVE, i found a love that would never leave me in teaching)

- allowing myself to stay in it long enough to discover talents i didnt know i had

- paying other people/mentors to train me to be better at it

- giving up partying and practicing my craft instead

- not letting other peoples ridicule or disbelief dissuade me
("you're a personal trainer? what kind of life is that?")

- betting my own money on ME, and losing some and winning some

- interning, assisting, hanging around anyone i thought had what i needed to know to the point where they taught me just to get rid of me lololol

- sucking up my mistakes and not making them twice

- not giving in to people who can't wrap their mind around MY VISION OF MY LIFE

I marvel at the people who can work full-time, and go to school full time and pull great grades to justify their debt...I still wish I was able to handle it...BUT I couldn't handle it - Im lucky that I recognized it for myself early on before I got into debt too deep and it still took me 8 years to pay off the one year at NYU I completed.


There's a million ways to be educated and for those that can't fit onto that college box, they need to know that it isn't the end of the world. It's just a different world, that has the same enriching experiences, the same breadth of knowledge and the same hope for a future....and although outside the mainstream, it's as valid as any other way of life.

Sometimes investing in self means going your own way, no matter what anyone else says.

[TAB.]

I took out a 10,000 dollar loan to pay for training in IT, back in 1993. I been making more money than anyone I know, since then. Before the loan , I was making 7 bucks an hour, and going nowhere. That was one hell of an investment. I've been re-investing, with more training, ever since.

[Doug]

So the bottom line is i shouldnt take out a $60,000 loan to study Fine Arts at the new School?I see it everyday a friend has a MFA and is working at CVS.Loans have to be repaid she says at any cost,since she cant find a job as a curator or artist she has to do what she has to do.

The key is to do career research ahead of time to know what jobs exist in your field of endeavor and where they're located. Slim pickings in your field means you'll have to work that much harder in school to distinguish yourself so you can take advantage. Also, merely obtaining a degree isn't always sufficient. There is a reason employers ask for your transcripts.

[Doug]

I'd like to add an argument AGAINST COLLEGE if I may. There are many many reasons why college didnt work for me...BUT


This doen't mean that one shouldn't INVEST IN SELF. It means that not everyone is cut out for the path that's presented as the holy grail. Investing in self also means that no one knows whats good for you BUT YOU.

For me investing in self meant:

- trusting my simple instincts (that looks like fun, i'll try that)

- finding a job that made me happy (i started out as a locker room attendant in a gym...why did i love that? i made $600 EXTRA/week selling locks/socks and energy drinks in there, and then i convinced them to train me to teach classes)

- loving it to the point of obsession (when you are obsessed with your work, it isn't work...it's LOVE, i found a love that would never leave me in teaching)

- allowing myself to stay in it long enough to discover talents i didnt know i had

- paying other people/mentors to train me to be better at it

- giving up partying and practicing my craft instead

- not letting other peoples ridicule or disbelief dissuade me
("you're a personal trainer? what kind of life is that?")

- betting my own money on ME, and losing some and winning some

- interning, assisting, hanging around anyone i thought had what i needed to know to the point where they taught me just to get rid of me lololol

- sucking up my mistakes and not making them twice

- not giving in to people who can't wrap their mind around MY VISION OF MY LIFE

I marvel at the people who can work full-time, and go to school full time and pull great grades to justify their debt...I still wish I was able to handle it...BUT I couldn't handle it - Im lucky that I recognized it for myself early on before I got into debt too deep and it still took me 8 years to pay off the one year at NYU I completed.


There's a million ways to be educated and for those that can't fit onto that college box, they need to know that it isn't the end of the world. It's just a different world, that has the same enriching experiences, the same breadth of knowledge and the same hope for a future....and although outside the mainstream, it's as valid as any other way of life.

Sometimes investing in self means going your own way, no matter what anyone else says.

Those are all good tips...and all things that can and should be employed in a college setting. I think the mistake people make is that they think merely attending college and getting a degree is the pathway to success. In the long run, I think attending college is better than not attending college. But to make your college experience as effective and useful as possible later in life, you have to employ all the self-investing tips you just described.

[BrazenMuse]

I'd like to add an argument AGAINST COLLEGE if I may. There are many many reasons why college didnt work for me...BUT


This doen't mean that one shouldn't INVEST IN SELF. It means that not everyone is cut out for the path that's presented as the holy grail. Investing in self also means that no one knows whats good for you BUT YOU.

For me investing in self meant:

- trusting my simple instincts (that looks like fun, i'll try that)

- finding a job that made me happy (i started out as a locker room attendant in a gym...why did i love that? i made $600 EXTRA/week selling locks/socks and energy drinks in there, and then i convinced them to train me to teach classes)

- loving it to the point of obsession (when you are obsessed with your work, it isn't work...it's LOVE, i found a love that would never leave me in teaching)

- allowing myself to stay in it long enough to discover talents i didnt know i had

- paying other people/mentors to train me to be better at it

- giving up partying and practicing my craft instead

- not letting other peoples ridicule or disbelief dissuade me
("you're a personal trainer? what kind of life is that?")

- betting my own money on ME, and losing some and winning some

- interning, assisting, hanging around anyone i thought had what i needed to know to the point where they taught me just to get rid of me lololol

- sucking up my mistakes and not making them twice

- not giving in to people who can't wrap their mind around MY VISION OF MY LIFE

I marvel at the people who can work full-time, and go to school full time and pull great grades to justify their debt...I still wish I was able to handle it...BUT I couldn't handle it - Im lucky that I recognized it for myself early on before I got into debt too deep and it still took me 8 years to pay off the one year at NYU I completed.


There's a million ways to be educated and for those that can't fit onto that college box, they need to know that it isn't the end of the world. It's just a different world, that has the same enriching experiences, the same breadth of knowledge and the same hope for a future....and although outside the mainstream, it's as valid as any other way of life.

Sometimes investing in self means going your own way, no matter what anyone else says.

no argument on that. Not everyone needs to be in college at all. And in high school, there is a ridiculous focus on college. The problem is that we need to bring back the respect for vocational training in this country...and we don't bother...too stuck on college. Too many chiefs and not enough indians.

[mhd]

...And in high school, there is a ridiculous focus on college. ...too stuck on college...

this is almost as bad as edith

[Armento]

So the bottom line is i shouldnt take out a $60,000 loan to study Fine Arts at the new School?I see it everyday a friend has a MFA and is working at CVS.Loans have to be repaid she says at any cost,since she cant find a job as a curator or artist she has to do what she has to do.

Ding bats study Art. The only reason to go to school for Art is if you want to be a librarian, art historian, museum curator. You want to be an artist? Start doodling.

p.s. Repaying student loans and any other debt. Always OVERPAY your min payments.

p.p.s. Brazen, we will always have enough Indians. Don't worry. USA is being dumbed down not smartened up.

[Fletch]

no argument on that. Not everyone needs to be in college at all. And in high school, there is a ridiculous focus on college. The problem is that we need to bring back the respect for vocational training in this country...and we don't bother...too stuck on college. Too many chiefs and not enough indians.

I used to come out against vocational schools because I thought there was a lot of racial steering towards them. Also, many of the vocational schools at the time I went (20-25 years ago) are now obsolete and need to either be shut down or updated with the changing technology.

Now, I don't attack vocational schools like I used to. I realize that back then, those schools taught trades that were the backbone of the economy. But as I said, changes need to be made that is up to speed with today's times.

Now, back to student loans!

[Doug]

p.s. Repaying student loans and any other debt. Always OVERPAY your min payments.

That's true if all you have is one type of student loan debt. But to the extent you have a mix of private loans and government loans (Stafford, Perkins, etc.), you should pay as much as you can over the minimum payment on the higher interest private loans first and pay only the minimum on the lower interest government loans (unless you can afford to make substantial overpayments on both).

[DaveR]

That's true if all you have is one type of student loan debt. But to the extent you have a mix of private loans and government loans (Stafford, Perkins, etc.), you should pay as much as you can over the minimum payment on the higher interest private loans first and pay only the minimum on the lower interest government loans (unless you can afford to make substantial overpayments on both).

agree

[Satin Doll]

hmmmm i see whatcha sayn HOWEVERRRRRRRR i know im not the only mofo who looked forward to refund checks from student loans while in college...and if im the only one then yall telln a tale! givin advise is cool but lets keep it real.

Word. I work with grown-a** college learners who you'd think would know this madness...BUT NO...I get atleast 5 calls/month saying "where's my refund...my mortgage is due". WTF? Refunds are to go to educational expenses...

What do you look like at the end of your college career wearing hot haute couture, tripped out (taking trips & ish), rent/mortgage paid...with no money for the GOV'T.

One word: GARNISHMENT! That is, if ya get a job....

Common sense ain't common...

[BrazenMuse]

this is almost as bad as edith

not everyone is cut out to go straight to college or to even go to college at all. They might be better served by going into what they are actually interested in, earlier on.

We act like there's something wrong with vocational training, but charter schools and specialty programs that target a certain career grouping have great success rates with students who would otherwise be disinterested and perhaps disruptive. Apprenticeship and hands on training would rein in a great deal of bad in-school behavior...

There may be a point after being in the real world for a while where folks may decide to go to college, but they might not need to go directly there from high school. Could be an immense waste of time, money and energy.


We are living in a reality where constant training and retraining are necessary, and students need the skills to survive in that reality.

Did your plumber need to get a BA? Does your electrician need one? But do they all need to be aiming at an MBA? Really?

[Satin Doll]

none of us are thinking bout the long haul when we fresh outa high school. i know i wasnt. hell i just knew id better be in somebodies college and i didnt care where the money was coming from and my momma didnt have no money saved up for me to go....so willingly student loans was my only option....it wasnt till a graduated that i realized this bill will be with me like forever like a darn car note til its paid in full...never realized when we grown and out the house that youd have to be responsible for other bills in addition to paying back student loans. you learn this head on. nobody told me shit.

It's true...being practical isn't one of the things that people leave out when they take out loans. They are usually young people who aren't thinking about the long haul. I was one of them in my undergrad years. Worked a while, started paying them back...years later, I ended up going to graduate school and had to play the game again. I don't like the debt, but teaching high school may well allow me to get some debt forgiven in Jersey...so we shall see. But it is a real bill and it really has to get paid. Along with everything else.

Everyone can make mistakes early on. One needed go on making them.

[Satin Doll]

i think "overpaying your minimum payments" is easier said then done. it would be nice to be in a position to do so but sometimes once uncle sam done took they cut from your paycheck its still never enough to cover ALL monthly expenses. everyone position is different...we cant just dwell on student loans, what about them credit card folks who be at the colleges everyday convincing you to sign up for credit cards. now you got debt on top of debt and you now realize once youve graduated and done moved outa mommys crib you accumlated all this in your college years and gota pay back.

Ding bats study Art. The only reason to go to school for Art is if you want to be a librarian, art historian, museum curator. You want to be an artist? Start doodling.

p.s. Repaying student loans and any other debt. Always OVERPAY your min payments.

p.p.s. Brazen, we will always have enough Indians. Don't worry. USA is being dumbed down not smartened up.

[House]

theres always an excuse

and if those run out: Blame whitey

[Satin Doll]

no excuses here its reality. and if isnt yours then cool. u 4get everyone's situation is different.

[House]

when one is broke "monthly expenses" equate to food, rent, gas and electric and maybe a phone

This "minimum payment" bullshit means that somewhere along the way a person decided to live above their means aka borrowing

Now if that borrowing was for an education - cool

if that borrowing was for "other" it means that you were greedy

What ever happened to saying "no"? Did the credit card folk twist arms to take their card? Even if a person was too weak to resist that, did the companies also force you to use the card on purchases you couldnt afford? Credit card folk have the same power to "convince" you to take their card as a Yugo dealer has to "convince" you to buy one of their purple hoopties - in other words: NONE


Lets start with blaming self

Unles one accepts their own responsibility in their predicament they will NEVER get out of debt