Is it a waste of time and money to pay student loans off?

[Justneedtokno]

[abc3643]

NO... because UNLESS you pay them off, Uncle Sam is going to garnish your pay until they are paid-off.
So, for instance, you do your income taxes and expect a big $3,000 tax refund from Uncle Sam... but, ohhhhhh... too bad... you defaulted on your student loans and still owe $27,000 on them... So, Uncle Sam says "Yeahhhhh, ummmmm... we're going to give you that $3,000 you were planning on getting. However, congrats! Now, you only owe $24,000 on your student loans... And we're going to keep doing this, every year, until it's paid-off... with interest."

[abc3643]

* we're going to TAKE that $3,000 you were planning on getting

[KrakenAttackin]

Student loans are a lawful debt you need to repay.

[AI Opinion]

Paying off student loans is generally a wise financial decision. It reduces your debt load, improves credit scores, and provides financial freedom. While it might feel burdensome initially, eliminating this debt can lead to more opportunities for savings, investments, and other financial goals. Consider the interest rates and compare them with potential investment returns. Balancing repayments with other financial priorities is key. In my experience, clients who paid off their student loans often experienced greater peace of mind and flexibility in pursuing their personal and professional goals.

[phraseology]

It's pretty easy to pay off student loans if you took them out for your education and spent them responsibly, but from the looks of it you're not the responsible type. You probably took way more than you needed to pay for tuition so that you could blow it on frivolous shit and to live large and now you don't want to pay your debts. I took students loans for school and worked while attending university. I only spent the loan money on tuition and basic fees like parking. I downloaded books in PDF form off the internet for free and read them on my computer. All my living expenses were covered by working a job. After I graduated I got a new job with my new credentials quick and when my first student loan payment was due I paid it down as fast as possible and ended up clearing my entire debt withing 3 months. It wasn't a big deal. People that complain about student loan debt, are the same people that complain about car loans and get repoed because they bought a car they could not afford. They are the same people that complain about credit card interest rates being so high because they live way beyond their means and just charge their lifestyle rather than being a responsible adult and paying the bill at the end of the month. If your eyes are bigger than your wallet, get your eyes fixed.

[lightbulb27]

I paid mine off and got out of debt in general. that feels good.

If you wait around for someone to wipe out your debt... that's kinda... ugh.. whats the word?

How do you feel about making a loan to someone who says "I think it's a waste of my time to pay you back".

This is the problem with government... it is corrupting to what is good behavior. A person that doesn't pay it back... principal or interest... is a what? Starts with a Th___F.

Pay it back is my opinion.

[KostasKouvalis]

Didn't Biden wipe them all out?

I had some friends who took out loans and said they won't bother paying them back. I know it will effect your credit, if you ever want a credit card or to buy a house, but I don't know what the legal implications are. For some things, they send a debt collector after you. And also if you die, your children can apparently acquire your death.

I would talk to a lawyer. If you can find some way to avoid paying without suffering any consequences, then just don't pay. But if not paying will have a negative impact, just don't pay. But some schools also have programs where you can "work for free" and the unpaid work hours will count as paying off your student loan. Someone suggested this to my friend.

[AviatorTom]

No it's not. When you took out the loan, you made a promise to pat it back. Breaking a promise is bad, and that debt WILL negatively affect your credit worthiness. Even worse is how that affects people who DO pay back their student loans.

[Static_In_The_Attic]

A loan is a loan & if that loan has a interest rate you are losing money & paying a loan off is rewarding & it makes you feel like you accomplished something as well.

[Dongie]

Here's a question for you.

Is it FAIR to do so when everybody that has contributed through taxes because they are working to have funds to payoff those loans had to pay their own off and now these lazy punks as well?

[Lynx122]

It's more of a waste to take on the loans. Once you have them it's better to pay them off.

[Anonymous]

Depends. If you don't make enough money to pay them off then you have a shit degree

[jahaims]

If you don't pay the loan they can take legal action

[Iron_Man]

Ask Biden to let it go

[Anonymous]

What the AI said is true from what I know

[Anonymous]

You mean because of loan forgiveness?