I made the huge mistake 15 years ago of agreeing to co-sign a college loan at a state university for my sister's youngest child (she has 4, and begged me to agree) not realizing that showed up on MY credit score. Despite his monthly payments (and they aren't high), he STILL owes more than $10,000 on just that loan. By my count, he's alre…
I made the huge mistake 15 years ago of agreeing to co-sign a college loan at a state university for my sister's youngest child (she has 4, and begged me to agree) not realizing that showed up on MY credit score. Despite his monthly payments (and they aren't high), he STILL owes more than $10,000 on just that loan. By my count, he's already paid twice as much as the loan was originally for, and he still has at least 8 years to go. God knows how much he actually has in debt. Due to health reasons, he didn't finish college, and he works in a big box store. Maybe, just maybe, that $10,000 loan forgiveness will give him a little breathing space. He's not getting a $10,000 freebie per year. It's not the rich kids getting the break, it's folks like my nephew. And me when/if that debt falls off my credit score.
As for that inflation everyone's screaming about - I'm a 70-yr-old woman on a fixed income, so inflation matters. Most of it is big companies taking advantage of the rest of us. Even before prices for gas rose, the oil companies were having their best profits ever. And the rest of the inflated prices were other companies getting in on the gouge. BTW, inflation has been kept artificially low for years, something that's been forgotten.
I support bailing out kids like that. I DO NOT support bailing out kids who make over $75k annually as individuals, and I definitely DO NOT support bailing out households making over $150k annually. Go ahead and defend that if you want to, but know that you're defending rich kids who are NOT like your nephew if they're making that kind of income after the debt they took on to get a better taste of life.
I made the huge mistake 15 years ago of agreeing to co-sign a college loan at a state university for my sister's youngest child (she has 4, and begged me to agree) not realizing that showed up on MY credit score. Despite his monthly payments (and they aren't high), he STILL owes more than $10,000 on just that loan. By my count, he's already paid twice as much as the loan was originally for, and he still has at least 8 years to go. God knows how much he actually has in debt. Due to health reasons, he didn't finish college, and he works in a big box store. Maybe, just maybe, that $10,000 loan forgiveness will give him a little breathing space. He's not getting a $10,000 freebie per year. It's not the rich kids getting the break, it's folks like my nephew. And me when/if that debt falls off my credit score.
As for that inflation everyone's screaming about - I'm a 70-yr-old woman on a fixed income, so inflation matters. Most of it is big companies taking advantage of the rest of us. Even before prices for gas rose, the oil companies were having their best profits ever. And the rest of the inflated prices were other companies getting in on the gouge. BTW, inflation has been kept artificially low for years, something that's been forgotten.
I support bailing out kids like that. I DO NOT support bailing out kids who make over $75k annually as individuals, and I definitely DO NOT support bailing out households making over $150k annually. Go ahead and defend that if you want to, but know that you're defending rich kids who are NOT like your nephew if they're making that kind of income after the debt they took on to get a better taste of life.