Student Debt
Dec 9th 2003, 9:07 pm
#76
Joined: Aug 2003
Posts: 11,149
Originally posted by bundy
I was talking about those people who choose to blow their student loans on beer and then moan about the fact that they have to pay it back a few years down the line. To me, that's frittering it away...
I was talking about those people who choose to blow their student loans on beer and then moan about the fact that they have to pay it back a few years down the line. To me, that's frittering it away...
Dec 9th 2003, 9:09 pm
#77
She's a bird, you know
Joined: Jul 2003
Location: Yorkshire
Posts: 7,655
Originally posted by bondipom
Others might call it pissing it up the wall.
Others might call it pissing it up the wall.
Dec 9th 2003, 9:38 pm
#78
(Jon) returning to NZ 04
Joined: Jul 2003
Posts: 816
Originally posted by bundy
I was talking about those people who choose to blow their student loans on beer and then moan about the fact that they have to pay it back a few years down the line. To me, that's frittering it away...
I was talking about those people who choose to blow their student loans on beer and then moan about the fact that they have to pay it back a few years down the line. To me, that's frittering it away...
Yes I frittered it away on beer. Yes I made a foolish choice to borrow money to drink beer aged 18. You never made a foolish chioce aged 18??
But No I was not moaning about having to pay it back. I have, I am, and will be pay back my student debt - and did not say that I shouldn't have to pay it back. Of course I should have to pay it back - my point was that I didn't feel a moral duty to do so, only a practical one.
Read carefully next time.....
Dec 9th 2003, 9:46 pm
#79
She's a bird, you know
Joined: Jul 2003
Location: Yorkshire
Posts: 7,655
Originally posted by jandjuk
well I don't know what you're talking about...
Yes I frittered it away on beer. Yes I made a foolish choice to borrow money to drink beer aged 18. You never made a foolish chioce aged 18??
But No I was not moaning about having to pay it back. I have, I am, and will be pay back my student debt - and did not say that I shouldn't have to pay it back. Of course I should have to pay it back - my point was that I didn't feel a moral duty to do so, only a practical one.
Read carefully next time.....
well I don't know what you're talking about...
Yes I frittered it away on beer. Yes I made a foolish choice to borrow money to drink beer aged 18. You never made a foolish chioce aged 18??
But No I was not moaning about having to pay it back. I have, I am, and will be pay back my student debt - and did not say that I shouldn't have to pay it back. Of course I should have to pay it back - my point was that I didn't feel a moral duty to do so, only a practical one.
Read carefully next time.....
And no, I don't recall making any foolish choices aged 18, and certainly not ones about money. But then I don't like beer
. Maybe that's the difference...
Dec 9th 2003, 10:10 pm
#80
(Jon) returning to NZ 04
Joined: Jul 2003
Posts: 816
I just didn't see anybody else saying they spent it on beer that was all....(could be wrong) I think you were mixing me up with those that actually used it as it was intended!
but anyway..... here's a random to show no hard feelings!
but anyway..... here's a random
to show no hard feelings!
Dec 9th 2003, 10:18 pm
#81
She's a bird, you know
Joined: Jul 2003
Location: Yorkshire
Posts: 7,655
Originally posted by jandjuk
I just didn't see anybody else saying they spent it on beer that was all....(could be wrong) I think you were mixing me up with those that actually used it as it was intended!
but anyway..... here's a random to show no hard feelings!
I just didn't see anybody else saying they spent it on beer that was all....(could be wrong) I think you were mixing me up with those that actually used it as it was intended!
but anyway..... here's a random
to show no hard feelings!
More than likely got confused, and was probably also adding in thoughts about random people from my own circle of friends at uni...
Anyway, no hard feelings indeed. I doubtless would have frittered my student loan on something had it not been for a pathological fear of debt preventing me from getting a loan in the first place (or an overdraft, credit card, store cards etc etc for that matter).
My brother is a student at the moment and has taken out student loans but he has a consultancy job (jammy git) whilst studying and has been head-hunted already, so we don't need to worry about him sapping tax payers money, even though he does squander it on cheap booze and women.
I should step down from my high horse now and retire gracefully.
Dec 9th 2003, 10:56 pm
#82
Drowning Member
Joined: Sep 2003
Location: West Sussex.....for now!
Posts: 161
Not in anyway getting involved in any arguement, but a friend of mine is using her money to travel during her course. She lives at home and works a couple of days. The first year she went to Rome, then another place in italy and in the hols she went to Vietnam. She did it all on the cheap back packing and hostels etc. She is 21 and I can't blame her for taking this opportunity. As to whether she will complain about paying it back or not who knows?
Dec 9th 2003, 11:00 pm
#83
She's a bird, you know
Joined: Jul 2003
Location: Yorkshire
Posts: 7,655
Originally posted by Surfer Chick
Not in anyway getting involved in any arguement, but a friend of mine is using her money to travel during her course. She lives at home and works a couple of days. The first year she went to Rome, then another place in italy and in the hols she went to Vietnam. She did it all on the cheap back packing and hostels etc. She is 21 and I can't blame her for taking this opportunity. As to whether she will complain about paying it back or not who knows?
Not in anyway getting involved in any arguement, but a friend of mine is using her money to travel during her course. She lives at home and works a couple of days. The first year she went to Rome, then another place in italy and in the hols she went to Vietnam. She did it all on the cheap back packing and hostels etc. She is 21 and I can't blame her for taking this opportunity. As to whether she will complain about paying it back or not who knows?
I've funded my big RTW trips by working like a dog and saving. Hurts at the time, but better in the long run, I think.
Dec 9th 2003, 11:04 pm
#84
What's he asking?
Joined: Nov 2003
Location: somewhere
Posts: 618
i used one student loand to live off, one to go on a field trip to kenya (yeh i know it was a bit extravegant but it was part of my course) and the other i put towards funding my masters. i have no qualms about paying them back and wish to do so i can be free of it and get on with getting myself in more debt as i get older. its probably not until you have paid of your mortgage can you really ever be free of debt.
Dec 10th 2003, 3:40 am
#85
(Jon) returning to NZ 04
Joined: Jul 2003
Posts: 816
the thing is that making so much money available to young people (who aren't working) is asking for trouble.
not trying to pass the blame, us young people quickly grow old and realise the error of our ways - but I think there should be greater controls on how loans are dished out to young people.
and it's not just student loans, but credit cards and HP and all that stuff too.
The economy depends on hooking the 18 year olds and keeping them in debt for the rest of their lives.
I could have paid most of my debt back if I'd stayed in NZ and worked the 9 to 5 - but personally, I'd take the travels and experiences I've had in life over being debt free (not so sure about the stereo and the beer however!
). I'm still going to have to put in many more years of the 9 to 5 to pay it all off - but you never know - I might get hit by a bus tomorrow! (touch wood - (I don't that is!))
not trying to pass the blame, us young people quickly grow old and realise the error of our ways - but I think there should be greater controls on how loans are dished out to young people.
and it's not just student loans, but credit cards and HP and all that stuff too.
The economy depends on hooking the 18 year olds and keeping them in debt for the rest of their lives.
I could have paid most of my debt back if I'd stayed in NZ and worked the 9 to 5 - but personally, I'd take the travels and experiences I've had in life over being debt free (not so sure about the stereo and the beer however!
). I'm still going to have to put in many more years of the 9 to 5 to pay it all off - but you never know - I might get hit by a bus tomorrow! (touch wood - (I don't that is!))
Dec 10th 2003, 7:36 am
#86
Joined: Aug 2003
Posts: 11,149
Originally posted by jandjuk
the thing is that making so much money available to young people (who aren't working) is asking for trouble.
not trying to pass the blame, us young people quickly grow old and realise the error of our ways - but I think there should be greater controls on how loans are dished out to young people.
and it's not just student loans, but credit cards and HP and all that stuff too.
The economy depends on hooking the 18 year olds and keeping them in debt for the rest of their lives.
I could have paid most of my debt back if I'd stayed in NZ and worked the 9 to 5 - but personally, I'd take the travels and experiences I've had in life over being debt free (not so sure about the stereo and the beer however! ). I'm still going to have to put in many more years of the 9 to 5 to pay it all off - but you never know - I might get hit by a bus tomorrow! (touch wood - (I don't that is!))
the thing is that making so much money available to young people (who aren't working) is asking for trouble.
not trying to pass the blame, us young people quickly grow old and realise the error of our ways - but I think there should be greater controls on how loans are dished out to young people.
and it's not just student loans, but credit cards and HP and all that stuff too.
The economy depends on hooking the 18 year olds and keeping them in debt for the rest of their lives.
I could have paid most of my debt back if I'd stayed in NZ and worked the 9 to 5 - but personally, I'd take the travels and experiences I've had in life over being debt free (not so sure about the stereo and the beer however!
). I'm still going to have to put in many more years of the 9 to 5 to pay it all off - but you never know - I might get hit by a bus tomorrow! (touch wood - (I don't that is!))
As was mentioned before financial education is also needed.
Dec 10th 2003, 8:18 am
#87
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Originally posted by bondipom
If only it was just young people. Plenty of older people I know cannot get the idea that a credit limit is not the amount you have to spend. Whack in a rule that if a bank lends to much to someone who obviously cannot afford the repayments that the bank cannot recover the money then they will soon get responsible.
As was mentioned before financial education is also needed.
If only it was just young people. Plenty of older people I know cannot get the idea that a credit limit is not the amount you have to spend. Whack in a rule that if a bank lends to much to someone who obviously cannot afford the repayments that the bank cannot recover the money then they will soon get responsible.
As was mentioned before financial education is also needed.
The only problem is: who would teach it? With all due respect to teachers, most of them are broke and in debt themselves. How can they teach something they don't know how to do?
I spent many years in serious debt before finding the right books and the right guidance to steer me out of debt.
My No: 1 book for getting out of debt and staying out of it, then building up serious reserves of money is 'The Richest Man In Babylon', by George S Clason. Easy to read, and easy to put in place principles, which actually work!
Dec 10th 2003, 7:41 pm
#88
She's a bird, you know
Joined: Jul 2003
Location: Yorkshire
Posts: 7,655
Originally posted by bondipom
If only it was just young people. Plenty of older people I know cannot get the idea that a credit limit is not the amount you have to spend. Whack in a rule that if a bank lends to much to someone who obviously cannot afford the repayments that the bank cannot recover the money then they will soon get responsible.
As was mentioned before financial education is also needed.
If only it was just young people. Plenty of older people I know cannot get the idea that a credit limit is not the amount you have to spend. Whack in a rule that if a bank lends to much to someone who obviously cannot afford the repayments that the bank cannot recover the money then they will soon get responsible.
As was mentioned before financial education is also needed.
I suppose you learn these kind of lessons from your parents. Mine never had any money, but they weren't in debt and they put the fear of god into me about taking on any kind of debt. I thank them for it every day!
Dec 10th 2003, 7:56 pm
#89
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Originally posted by bundy
There was some news report over here a couple of days ago talking about the increasing level of debt amongst the over 60s, so it does seem to hit all ages.
I suppose you learn these kind of lessons from your parents. Mine never had any money, but they weren't in debt and they put the fear of god into me about taking on any kind of debt. I thank them for it every day!
There was some news report over here a couple of days ago talking about the increasing level of debt amongst the over 60s, so it does seem to hit all ages.
I suppose you learn these kind of lessons from your parents. Mine never had any money, but they weren't in debt and they put the fear of god into me about taking on any kind of debt. I thank them for it every day!
My parents, on the other hand, earned good money all their working lives, and never saved any of it. Always rented, always sold up for a fraction of what the household cost, always bought brand new when they got where they were going, "on tick", and paid through the nose in interest. It took many years to get out of the habits they instilled in me, from the example they set.
Dec 10th 2003, 7:58 pm
#90
She's a bird, you know
Joined: Jul 2003
Location: Yorkshire
Posts: 7,655
Originally posted by downunderpom
Mrs DUP's parents are like that - "if you can't pay cash, then you can't afford it." The only loan they've ever had is a mortgage, and that's paid off. They have simple tastes, and now have everything they want or need.
My parents, on the other hand, earned good money all their working lives, and never saved any of it. Always rented, always sold up for a fraction of what the household cost, always bought brand new when they got where they were going, "on tick", and paid through the nose in interest. It took many years to get out of the habits they instilled in me, from the example they set.
Mrs DUP's parents are like that - "if you can't pay cash, then you can't afford it." The only loan they've ever had is a mortgage, and that's paid off. They have simple tastes, and now have everything they want or need.
My parents, on the other hand, earned good money all their working lives, and never saved any of it. Always rented, always sold up for a fraction of what the household cost, always bought brand new when they got where they were going, "on tick", and paid through the nose in interest. It took many years to get out of the habits they instilled in me, from the example they set.
