Income Potential

20 years later and now your payments are due and 5 times higher. At what point in life does the loan finally, if ever, get paid for???

That govt loan forgiveness isn't working out so well.

STudent loans have been hitting the news pretty heavily lately. One of the topics of the loans is amount borrowed for a career with very low earnings. Like the pilot thread recently posted. Or a teacher who loaned $35G for a $17g per year job.

The other topic is payments and deferrals. Interest builds up to make the payments really absurd.

And recently. Articles have started posting about the deserters. They've decided their loans will never be paid for. As hard as they've tried on the payments. So they leave the country. With no plans to ever come back.

Apparently loans aren't like collections. Loans haunt you for life. Collections eventually disappear.

They may work out for some people. For others. It hasn't.

Congress tried to fix public service student loan forgiveness. It isn't working

He moved to a jungle in India to escape his giant student debt — and he's not alone

Katrina Williams left for Japan in 2015 to escape student debt

And that's just one websight.

 

My understanding is that the loan will be forgiven after 10 years on the program but I could be wrong. Would certainly not be the first time and won't be the last. I need to check on that and make sure that is correct.

 

How are your student loan payments 900/month???

I’m a teacher now, and I borrowed 40k over a few years when I returned to college. My debt will be forgiven @ 10years of payments, because I’m on income contingent repayment.

Your loans are only eligible for forgiveness if you are on IBR, PAYE, or REPAYE. On income contingent payments you would have a AGI if 125k a year for your payments to be that high.

Despite all the false narratives for political purposes, federal student loan debt is rarely “crippling”. The repayment plans are set @ 10-15% of net disposable income after adjustment for 150% of poverty level. I gross 4600/month as a teacher, my student loan payment is only 276/month.

 

One option you may also want to consider is your state of residence. Look at the states that have no state income tax as a potential residence. Could be up to 11% more money in your bank account.

Do google search on states with no income tax.

Texas and Tennessee both have no income tax and have lots of freight lanes, as an example.

 

There’s also Superior carriers terminals in markham IL and Kankakee IL

 

And a couple grocery bags and wipes. You’ll be happy you have them if you ever get sick.... don’t ask me how I know.

 

A trainer told me there's no time for that. He said he would park on a ramp and kind of lean out and squat on the steps and drop one the curb then take off.

 

I'm in a similar situation, but more manageable with Federal Loans managed by Navient. I have my CDL plus endorsements and looking to head south where I have relatives to make the move easier (I tried to get out of trucking going to college ). I'm under Forbearance time and not making payments for a while so I have more financial flexibility while setting up my new life of driving to pay back debts while getting away from the snow. The snow is a general pain in the ### especially in customers who don't plow or salt and it can waste logbook time.

My folks are near Mobile, AL and I'm hoping to get something Southeast Regional. I'm getting ready to move next week and I've applied to Superior Carrier. I'm also looking into Rogers Cartage and CTL (Comcar).

I'm sort of curious about Averiitt Express just because they have so many Terminals so their drivers have more alternatives to Truck Stops. Maybe they're worth a look for entry level?

If I had folks in Florida near Jacksonville, I might look into Raven, but I'm heading to Mobile.

For what it's worth, I studied Cyber Security and some Software Development. It was fascinating and there are high paying jobs, but they want so many expensive Certifications and experience as well as the Bachelors for Cyber Security. I guess now it will just be a hugely expensive hobby; the requirements to get into it are so steep.

 

With the recruiters calling me of all people to work in pharma and research, which is not my field of studies for my degrees, I am amazed that anyone with any bio-tech degree can't find work at $60k starting, especially when recruiters are calling people who've been out of pharma for 15 years.