Perpetual, I spent 100K to go to school and cannot earn income.

[Vinny1]

http://finance.yahoo.com/q/is?s=SLM+Income+Statement&annual

I'm curious why Sallie Mae lost money in 2007 and 2008 if the government pays them back, with interest, loans that are in default?

 

[Vinny1]

If you default on a student loan, how does the collection agency garnish your wage if you are self-employed? Can they seize your assets, like your home, car, bank account, and/or brokerage account?

 

[Vinny1]

Quote from RiceRocket:

Hey lazy fucks, if you can't get a job, start your own business!!! Stop whining and take your 100k degree and put it to use. Learn to step up and take some risk. Create some jobs for other people instead of whining about it. This mentality is what has created the big nanny government today that gets in the way of entrepreneurs in every step of the process. Either take things in your own hand or take a flying fuck!

Perhaps they have no money to start a business or the knowledge of how to run a business or even know what a Schedule C or 1040 ES is. Of course it depends on the type of business and how much money you need to start it.

Corporations don't want wild and care-free entrepreneurs. They want obedient workers willing to settle for 2 weeks vacation per year and work for low pay. I am so glad to be self-employed and not have a boss to answer to and telling you what to do and what to wear. You can work as much or as little as you want and take as much as vacation as you want. I take 3 or 4 months of vacation each year, most of that time is spent in Europe. I definitely would recommend self-employment for anyone, as long as you make money at it. Freedom is definitely priceless.

 

[jinxu]

Quote from Vinny1:

If you default on a student loan, how does the collection agency garnish your wage if you are self-employed? Can they seize your assets, like your home, car, bank account, and/or brokerage account?

http://www.studentloanjustice.org/

 

[KINGOFSHORTS]

Quote from Vinny1:

If you default on a student loan, how does the collection agency garnish your wage if you are self-employed? Can they seize your assets, like your home, car, bank account, and/or brokerage account?

They can seize assets.

 

[wartrace]

Quote from stinkyfelix:

He told me that he had a graduate degree in musicology from UCLA in a very snippy tone.

Needless to say I had to really bite my tongue to prevent myself from busting out laughing in front of everyone else.

I wonder how much $$$ debt this guy racked up getting "educated"????

You should have engaged him and ask what a musicologist does. Seriously, did he think that would get him a job???????

 

[joe4422]

Quote from intradaybill:

Selection bias. The problem is that she has average abilities and in that case companies prefer younger, out_of_college candidates.

In USA a 49 year-old is considered a burnout. Let us be honest about it, this is the culture. Most employers believe it is more likely to have problems from people in that age rather than benefits.

The same more or less holds in Europe. I do not know what the case is in Asia and I would be interested to know. The fact is there is a certain degree of age racism in Western countries, often justifiable on the grounds I mentioned above. It is a problem though.

Age Racism in Western countries? In your pants maybe.

Asia is where the age racism is. Dairy Queen for example has a sign that says only those under 23 need apply.

By age racism, I think you mean to say age discrimination. Anyway, in Asia there's also plenty of racism. White is a big advantage, black or even dark skin is a huge problem.

Believe me, the US is the best it gets for workers rights.

 

[joe4422]

Quote from RiceRocket:

Hey lazy fucks, if you can't get a job, start your own business!!! Stop whining and take your 100k degree and put it to use. Learn to step up and take some risk. Create some jobs for other people instead of whining about it. This mentality is what has created the big nanny government today that gets in the way of entrepreneurs in every step of the process. Either take things in your own hand or take a flying fuck!

So the 16 million unemployed should all start a small business? I bet that work out well with most small business currently going bankrupt.

 

[denner]

Quote from joe4422:

So the 16 million unemployed should all start a small business? I bet that work out well with most small business currently going bankrupt.

Most things written on this site have to be taken with a large grain of salt. After all, if everyone showed up in person, you'd more than likely find out the guys and gals you are debating with are still of college age and lack a great deal of perspective.

That being said...with regards to the idea of the masses of unemployed starting their own business, it sounds slightly sensible in theory BUT there are start-up costs with just about any business and I don't figure that alot of those folks have nest eggs sitting around to foot the bills.

 

[stevenpaul]

Quote from dumb_mother:

problem with IBR is that the program is currently just an unfunded project that i woudn't be surprised if it never gets funded and just scrapped at some point.

I'm not using IBR yet, as I am still deferring repayment, but I was under the impression from others on it that it's working as stated on the various websites about it. Are you saying it's not yet a real option for student loan debtors? Is it just an idea? I believe some of my cronies from school are doing it.