Forgive them all

By fuckall - This FML is from back in 2011 but it's good stuff - United States

Today, I worked out that if I paid the minimum monthly amount on my student loans, I'd be paying them until I'm 65. FML
I agree, your life sucks 30 302
You deserved it 5 987

Top comments

If you pay the minimum on any debt, you'll be paying many times over the original loan amount in accrued interest. That's why you don't play the game and you pay more than the minimum every month.

I think (hope) #2 meant don't pay the minimum amount, but more than the minimum amount.

Comments

um, yes, that is the case for all of us who went to college...

No... no it's not. Some of us don't go through OSAP or whatever loans you use to get through college. Some of us either saved up and paid for it ourselves, or our parents have funds saved that we can use for tuition.

lil_miss_blair 0

yeah cuz an 18 year old has $200,000 (the cost of 4 years of college) saved up from birthday money and working at mickey d's. yeah right. and most people don't have rich parents to pay for school.

1. I said some, not all like the girl above me. 2. Not all of us work/worked at McDonalds. Unfortunately I was one, but that point doesn't apply here. 3. You can save some up when you start work around age 15-16, assuming you start as soon as you're legally allowed, and use that towards your college fund while paying for the rest of it through funds earned while you're at college. You are able to work during college, you know. You aren't at college 12 hours a day, 60 hours a week! FYI, one year at my college will cost between $3000-$4000. Just a tip. 4. Some kids get scholarships, too. I'm not sure of any details pertaining to those, though. 5. Four years of college most certainly does not cost $200,000 nor would it cost even $100,000 (unless you're traveling to the other side of the world to attend college). Not everyone lives on residence, and not everyone goes to the most expensive college/university. I don't know specifics about my local university, but I'm sure 4 years will not cost you $200,000. Where do you get your information from?

lil_miss_blair 0

i got that info from my sister's college, which costs $50,000 a year. she got a little bit of a scholarship but not a lot. she saved all her earnings from 16 to 18 but that barely paid for textbooks and lab fees. and she works 2 jobs now but needs that to pay rent and bills.

Was she attending in a different country? That's the only thing that makes sense to me in terms of the cost. If not, what program was this? That's ... kind of ridiculous.

lil_miss_blair 0

she went to harvard. that's how much it costs.

lil_miss_blair 0

my sis is in the same position right now. just graduated (undergrad) with $110,000 in student loans. but she got a free scholarship to grad school. and she's also marrying a guy who makes $120,000 a year which is really helpful cuz the most she can hope to get is $50,000 a year in her field and that's after she's been doing it awhile. but yeah, that's what happens when you get into harvard and have middle class parents. school and government won't give you financial aid, but parents can't afford to pay. that's why i decided to become a model instead of going to college. lots of money and no debt.

And nearly impossible to become as successful as the Victoria's Secret models. Yeah, good luck with that one.

No one told your sister to go to such an expensive school. I was accepted into several private schools which were between $30k and $50k a semester but chose not to go do to money issues. I go to a cheaper school and am still receiving a good education, but don't have any student loans.

lil_miss_blair 0

that was financially smart of you but academically dumb. now you won't get as good of a job.

Ninjafriends 1

If you're going to an Ivy League school to work in a profession that pays poorly, that's a choice you have to live with. But, sometimes people are deservedly happy with that accomplishment, and don't complain. Unfortunately, some other people have to look at college as an investment. If it doesn't pay off, you may have to look at schools that offer a better education to dollar value. However, I can tell you that modeling is a pretty piss poor alternative. That comment just made me sad. The longevity of your career is so short. I occasionally work with print models and have seen this a bunch of times. The money seems good now, compared to what you could get without an education. But, it's not exactly big bucks. And it's nothing near enough to retire after your looks fade... which happens faster than girls ever expect. There's a typical path that a lot of girls take. Model and get paid a lot better than you would working at Starbucks; Start thinking you're a goldmine of beauty; Get older, lose your luster; Start settling for less and less glamorous jobs; Get dangerously close to rock bottom; Marry an ugly, but semi-successful photographer, because you can't fall back onto anything. Fortunately, many of these models are temporarily making money as living objects in order to fund their educational pursuits. Maybe you could do the same.

Ninjafriends 1

Radmuffin isn't necessarily dumb, and is most likely very smart. In the professional world, people have much more insight and knowledge than a lay person who can only recognize a few big names. For example, I would be just as likely to hire someone who graduated from the University of Illinois engineering programs as I would fro M.I.T.'s. The rankings are so close in most aspects that they're practically indistinguishable. This is common knowledge for anyone in that particular field... which is all that matters. In state tuition is 1/4 that of M.I.T.s' for the same education and the same professional reputation. Blair is displaying a high level of ignorance.

Blair, my college cost me around $4,000 a year, and I make about 100 times that now. My point is that you don't have to go to an expensive college (ie Ivy League) to make a good living. Don't tell me that a $50,000 a year education is going to be 10 times better (or allow you to make 10 time more) than a $5,000 a year education.

Blair, as if your original comments weren't bad enough, you've shown you could make it worse. Well done. Ivy league schools are certainly not better as a cheaper school, as Doc pointed out. So, my advice to you is to go find a real job since you won't end up a VS model, and go to a cheaper school. There! Problem solved. Oh, wait. My tuition's only $4000 a year... I guess you can discount anything I say because my tuition doesn't cost enough. *facepalm*

Thanks, at first I was the only who thought this girl was ridiculous. It seems to me she's the one that's dumb by choosing modeling as a "career".

lil_miss_blair 0

thanks. i'm already signed with billabong, so vs is only a few steps away.

Ninjafriends 1
doughnutboy99 2

i don't mean to sound rude but as soon as you get to "old" they'll throw you out and get another good looking woman and it is the unfortunate truth. you should try to get a more permanent job

You realize those modeling companies all want you for the money you're willing to pay, right? They want vulnerable girls who want to feel "good" about themselves. They tell you you'll go so far and you're the best model yet just so that they can keep you and your money. What are you going to do with your portfolio? You're never going to use those for anything of value. So, it's not as cheap as you originally said, it's not long-lived, AND you have a low chance of getting anywhere with that choice of profession.

Bloody Tories. On general principles. Also, as a uni student, this depresses me.

That's why it's called the minimum payment. It's about the least you can pay without your debt actually growing due to interest. It's not an FML, it's just the way the minimum payment is calculated. Most flexible payment plans have a "recommended payment" through which you'll pay off your debt in a reasonable amount of time. Basically, the only time it would be in your interest to pay the minimum is if you honestly can't afford to pay more and you don't want to default on the loan.

Ninjafriends 1
romapenn 1

If you sign up for the "income contingency" plan it adjusts your payments to how much you can afford, AND you only have to pay for 20 years. After that the balance is dropped. You can work for a school or public service and have 10 years taken off of that. My 57,000 plan costs me $150 per month, and will be done in 9 years.

DRock525 0

I think you forgot to take into acct that the min payment will go every so often, there not going wait till you 65