Loan payments...

[mshunter]

I refinanced my loans through Citizen's Bank with a fixed rate loan. The interest rate is higher than I would have preferred but still far less than it was when it was variable. Interest rate aside, my main goal when refinancing was to get my brother off the old loans.

Might be worth checking them out if you haven't yet

I'll have to look at them. Do you remember what type of loan it was?

 

[FloridaLarry]

Divorces are expensive, because they’re worth it!

If you compare the cost of many divorces (particularly when children are involved), with the cost of a marriage license....

 

[DogwoodLynx]

I was talking to a friend today who just got on at one of the better paying regionals. I asked him if he was excited to finally make a decent income so he can quit working two jobs. He laughed then said due to his 1100 dollar student loan payment he needs to. Apparently that is the total of two loans, he was previously making less money and deferred the higher loan. I still cannot get over that rediculous amount of money he has to fork over every month, 1100 dollars!!? That has to be way higher than normal right?

That got me thinking, I wonder what’s the percentage of regional pilots that are making high payments and on multiple loans due to money available for funding at the time of training. I’ve heard upwards of 500 and even one that had 700, but 1100 seems like a serious rip off even if it is the combination of two loans. His debt was greater than 100k so I’m assuming most kids coming from similar places like UND or Riddle have that amount to pay back if Mom and Dad didn’t pay for it.

Are these loans pretty long term? I know the program I went to worked with Wells Fargo and if the students qualified for government loans they would mix the two in order to cover 80k worth of training and education. So I’m guessing you can only defer the government loans, or does Wells Fargo allow deferment due to low income?

Yep. I figured this out at 18 and said thanks but no thanks. I went against the wishes of pretty much everyone but here I am working at a regional as a dispatcher with no college debt.

 

[EAD]

I'll have to look at them. Do you remember what type of loan it was?

It's just their refinancing option for student loans. Link

If you got a degree out of your student loans then you should look into other lenders like SoFi as well. Most student loan refinance lenders want the degree and Citizen's was the only one I found that didn't.

 

[gliderboy]

You can save a lot of money by doing your first two years at a junior college, then transferring those credits to a 4-year institution where you can finish your degree.

 

[Murdoughnut]

WSJ story about an ortho with $1m in student loans, which will become $2m because he’s only making the minimum payment of $1.6k per month.

Mike Meru Has $1 Million in Student Loans. How Did That Happen?

 

[Der rote Baron]

Divorces are expensive, because they’re worth it!

Hmm......

 

[ppragman]

WSJ story about an ortho with $1m in student loans, which will become $2m because he’s only making the minimum payment of $1.6k per month.

Mike Meru Has $1 Million in Student Loans. How Did That Happen?

There's a reason why usury is outlawed or at least frowned upon in many religions.

 

[NickH]

WSJ story about an ortho with $1m in student loans, which will become $2m because he’s only making the minimum payment of $1.6k per month.

Mike Meru Has $1 Million in Student Loans. How Did That Happen?

$225k yearly income.

 

[Boris Badenov]

Someone mentioned it back there a ways, but if you want a villain in all of this mess, look no further than *drumroll* the lending industry! That's right, AGAIN! The federal government has absolutely no business in, uh, the business of insuring debt. Then they doubled down and made it undischargable in bankruptcy. Wonder who got paid off on that one. Net result for you, Mr. Peasant? Exponential tuition increases, debt spiral, wage slavery, wholesale wealth transfer! Now get back to work, serf.

 

[ppragman]

Someone mentioned it back there a ways, but if you want a villain in all of this mess, look no further than *drumroll* the lending industry! That's right, AGAIN! The federal government has absolutely no business in, uh, the business of insuring debt. Then they doubled down and made it undischargable in bankruptcy. Wonder who got paid off on that one. Net result for you, Mr. Peasant? Exponential tuition increases, debt spiral, wage slavery, wholesale wealth transfer! Now get back to work, serf.

Eat the rich.

 

[Roger Roger]

Someone mentioned it back there a ways, but if you want a villain in all of this mess, look no further than *drumroll* the lending industry! That's right, AGAIN! The federal government has absolutely no business in, uh, the business of insuring debt. Then they doubled down and made it undischargable in bankruptcy. Wonder who got paid off on that one. Net result for you, Mr. Peasant? Exponential tuition increases, debt spiral, wage slavery, wholesale wealth transfer! Now get back to work, serf.

Well, at least they didn’t try it with real estate. That would have devastating consequences.

 

[nibake]

Yet

 

[skypilot6]

Someone mentioned it back there a ways, but if you want a villain in all of this mess, look no further than *drumroll* the lending industry! That's right, AGAIN! The federal government has absolutely no business in, uh, the business of insuring debt. Then they doubled down and made it undischargable in bankruptcy. Wonder who got paid off on that one. Net result for you, Mr. Peasant? Exponential tuition increases, debt spiral, wage slavery, wholesale wealth transfer! Now get back to work, serf.

 

[DogwoodLynx]

You can save a lot of money by doing your first two years at a junior college, then transferring those credits to a 4-year institution where you can finish your degree.

Even Jr College is really expensive though and they try really hard to make people have to take remedial classes that you pay for but don’t transfer out of that school.


Google Confessions of a College Professor. It’s a blog. Read through all his data.

 

[mrivc211]

Who is dealing with food stamps these days? Regional pay is actually decent now. Combined with quick upgrades, guys now have it WAY better than we did several years ago. This is a good thing!

$19.02/hr
EMB-120
8 legs a day baby

 

[GypsyPilot]

$19.02/hr
EMB-120
8 legs a day baby

Yep. I have that T-shirt. I’m very happy those days are long gone for new hires.

 

[Cptnchia]

$19.02/hr
EMB-120
8 legs a day baby

Could be worse. I did that for $16 an hour back in the early 90s. Funny thing is, I’m now flying 5 legs a day, to the same towns as then. At least I’m making more and the hotels are better.

 

[Cessnaflyer]

Yeah...we're moving soon and I'm looking at like $1,500 for the toddler alone.

That is nuts. I paid $150/month for 4-hour school. Then he came to the office with me for the remainder of the day. The most we paid for a full day was $400/month.

 

[Cessnaflyer]

Could be worse. I did that for $16 an hour back in the early 90s. Funny thing is, I’m now flying 5 legs a day, to the same towns as then. At least I’m making more and the hotels are better.

With inflation that is close to $28. That's about what I was doing and living in Hawaii. There was a reason I was collecting bottles out of trash cans to take in on my days off. Without the tourists throwing those away, I would have been much skinnier!