Current Events > Somebody I know racked up like 90k in student debt and he just moved to China

(+) Yeah! (+)

he said he's not ever coming back or gonna pay those loans. He was pretty damn smart so they didn't make his parents cosign his loans so I don't think they'll have to pay.

For their sake I hope so at least.
---

Hopefully he gets his through karma. Theft is not ok
---

lmfao they gonna extradite his ass
---

China doesn't have an extradition treaty with the US either lol

smoliske posted...

China doesn't have an extradition treaty with the US either lol

oh
---

Yeah I've been thinking about doing this

Maybe not China, but somewhere else with no extradition treaty
---

thronedfire2 posted...

Yeah I've been thinking about doing this

Maybe not China, but somewhere else with no extradition treaty

you could literally never come back to the US, ever.

thronedfire2 posted...

Yeah I've been thinking about doing this

Maybe not China, but somewhere else with no extradition treaty

do Taiwan

Taiwanese women >>>>>>>>>>>>>>>>>
---

smoliske posted...

thronedfire2 posted...

Yeah I've been thinking about doing this

Maybe not China, but somewhere else with no extradition treaty

you could literally never come back to the US, ever.

That's fine

There's nothing keeping me here anymore anyway, might as well bail on the student loans
---

Does China take that into account in that weird social credit system they have?
---

countries love it when you just show up and refuse to leave
---

Imagine the stress and depression when you realize you're all alone and can't go back. Unless you're super social and know the language
---

One of the most ridiculous stuff among all the ridiculous stuff in US are student loans.

Wtf, 90k?

Lost_All_Senses posted...

Imagine the stress and depression when you realize you're all alone and can't go back. Unless you're super social and know the language

Now imagine the stress and depression of being here and all alone and throw $70k debt on top of it
---

Mufflnz0rz posted...

smoliske posted...

China doesn't have an extradition treaty with the US either lol

oh

As far as I know, you can't be extradited for dodging loans. I was reading about students getting the fuck out and there's nothing the loan companies can do about it.
---

thronedfire2 posted...

Now imagine the stress and depression of being here and all alone and throw $70k debt on top of it

All cause you wanted to get more smarter
---

Ushiromiya posted...

thronedfire2 posted...

Now imagine the stress and depression of being here and all alone and throw $70k debt on top of it

All cause you wanted to get more smarter

I wanted to go trade school but my parents insisted college was th better idea.

I could be an electrician making $80 an hour right now but nooope
---

JustMyOpinion posted...

He doesn't sound that smart if he has to run off to China. That's not an insurmountable debt if he has a decent job.

The problem is that a decent job can be hard to come by right out of college, not even accounting for any other expenses they may have assuming they aren't living with family.
---

That's your own fault, they couldn't force you to go to college AND get $70k into debt.

You can still go to trade school.
---

If he had a liberal arts degree it is probably insurmountable. I guess he has better connections in China. Blame the bankruptcy laws preventing discharge of student debt for him fleeing the country.
---

More people need to start walking away from education debt. It would make it harder to get college loans and we could start to migrate away from the idiotic idea of "If you don't go to college you'll be a ditch digger!"

A kid who goes to vocational school starting junior year for welding and takes it seriously can pass a one inch overhead welding test and graduate high school a certified welder all positions unlimited thickness, join the iron worker's union and be making six figures at 19 years old on the path to being worth seven figures by age 30 and retiring well by age 50.
---

JustMyOpinion posted...

Assuming he can do better than cashier I wouldn't consider 90k a "I need to flee the country" amount of debt.

Are you joking? 90 grand in debt at 4% interest would be nine hundred bucks a month if you tried to pay it off over 10 years and would cost $110,000 by the time you were done. That's a mortgage in a lot of the country and would be financially crippling to most people.
---

thronedfire2 posted...

Lost_All_Senses posted...

Imagine the stress and depression when you realize you're all alone and can't go back. Unless you're super social and know the language

Now imagine the stress and depression of being here and all alone and throw $70k debt on top of it

True. But are you just assuming he's alone here or know?
---

r4X0r posted...

JustMyOpinion posted...

Assuming he can do better than cashier I wouldn't consider 90k a "I need to flee the country" amount of debt.

Are you joking? 90 grand in debt at 4% interest would be nine hundred bucks a month if you tried to pay it off over 10 years and would cost $110,000 by the time you were done. That's a mortgage in a lot of the country and would be financially crippling to most people.

Yup. And if you go on any sort of income driven repayment plan you'll be paying it off as long as a mortgage and the interest just keeps building up the whole time.
---

r4X0r posted...

and be making six figures at 19 years old on the path to being worth seven figures by age 30 and retiring well by age 50.

what
---

I don't see how you can say he's smart when he's in debt also running away from a debt isn't smart either.
---

Evthean posted...

r4X0r posted...

and be making six figures at 19 years old on the path to being worth seven figures by age 30 and retiring well by age 50.

what

People in trades make a lot of money..

My friend and her boyfriend are 23 and they already own a house
---

Evthean posted...

r4X0r posted...

and be making six figures at 19 years old on the path to being worth seven figures by age 30 and retiring well by age 50.

what

First year apprentice wage for iron workers here is $26/hr + $10/hr vacation fund. It's bumped up every year for five years until you reach $48.50+$10 as a journeyman. The caveat is that if you're actually welding on the job, you make journeyman wage, regardless if you're an apprentice or not. A 19 year old who has two years of vocational training, is a certified welder and spent a year in the union and is welding on the job is earning that ~$60/hr and if he wants to get seriously ambitious and work a lot of overtime at time and a half (~$90/hr) he can earn $150,000/yr. As a teenager. It's not common, but it's not unheard of either. Then there's your annuity on top of that. Somebody who takes this route and really works their ass off by age 22 can have a net worth of a few hundred thousand dollars.

Meanwhile, you have people who take the college route, take out a bunch of loans and earn a degree in philosophy, and at age 22 they're 50 grand in debt and can't command much more than a $10/hr salary. But hey, they can tell people that they're educated!
---

Good for him. Fuck the loan companies. Fuck student debt
---

Lemme guess. He was a major bernie bro. I guess he gets to live in a communist country.
---

r4X0r posted...

First year apprentice wage for iron workers here is $26/hr + $10/hr vacation fund.

What is a vacation fund?
---

Blue_Inigo posted...

Good for him. Fuck the loan companies. Fuck student debt

Yeah. How dare a company expect to be paid back the money that someone borrowed from them?
---

GunmaN1905 posted...

One of the most ridiculous stuff among all the ridiculous stuff in US are student loans.

Wtf, 90k?

it was an out of state university. I think he went to Michigan or something.

He's actually like brilliant though. He's already making bank over there teaching engineering or something at an all English school.
---

r4X0r posted...

More people need to start walking away from education debt. It would make it harder to get college loans and we could start to migrate away from the idiotic idea of "If you don't go to college you'll be a ditch digger!"

A kid who goes to vocational school starting junior year for welding and takes it seriously can pass a one inch overhead welding test and graduate high school a certified welder all positions unlimited thickness, join the iron worker's union and be making six figures at 19 years old on the path to being worth seven figures by age 30 and retiring well by age 50.

Id rather not work with my hands all day. No thanks

byron posted...

RedWhiteBlue posted...

r4X0r posted...

Evthean posted...

r4X0r posted...

and be making six figures at 19 years old on the path to being worth seven figures by age 30 and retiring well by age 50.

what

First year apprentice wage for iron workers here is $26/hr + $10/hr vacation fund. It's bumped up every year for five years until you reach $48.50+$10 as a journeyman. The caveat is that if you're actually welding on the job, you make journeyman wage, regardless if you're an apprentice or not. A 19 year old who has two years of vocational training, is a certified welder and spent a year in the union and is welding on the job is earning that ~$60/hr and if he wants to get seriously ambitious and work a lot of overtime at time and a half (~$90/hr) he can earn $150,000/yr. As a teenager. It's not common, but it's not unheard of either. Then there's your annuity on top of that. Somebody who takes this route and really works their ass off by age 22 can have a net worth of a few hundred thousand dollars.

Meanwhile, you have people who take the college route, take out a bunch of loans and earn a degree in philosophy, and at age 22 they're 50 grand in debt and can't command much more than a $10/hr salary. But hey, they can tell people that they're educated!

And the catch with most of these trades is that you can't have a debilitating fear of heights.

Where are the jobs that don't wear down your body, don't put you under intense fear of death, wont drive you to suicide, don't require an education, don't take years to start, and pay enough to make a living and a bit of luxury money ($30+/h)?

And that he's probably massively over exaggerating

he's not

my friend's boyfriend is a master electrician making $75-85 an hour at 23 years old
---

lol I got modded for my first post itt

Which one of you works for navient
---

thronedfire2 posted...

lol I got modded for my first post itt

What did you post?
---

DragonGirlYuki posted...

thronedfire2 posted...

lol I got modded for my first post itt

What did you post?

It's quoted right after still
---

byron posted...

thronedfire2 posted...

byron posted...

RedWhiteBlue posted...

r4X0r posted...

Evthean posted...

r4X0r posted...

and be making six figures at 19 years old on the path to being worth seven figures by age 30 and retiring well by age 50.

what

First year apprentice wage for iron workers here is $26/hr + $10/hr vacation fund. It's bumped up every year for five years until you reach $48.50+$10 as a journeyman. The caveat is that if you're actually welding on the job, you make journeyman wage, regardless if you're an apprentice or not. A 19 year old who has two years of vocational training, is a certified welder and spent a year in the union and is welding on the job is earning that ~$60/hr and if he wants to get seriously ambitious and work a lot of overtime at time and a half (~$90/hr) he can earn $150,000/yr. As a teenager. It's not common, but it's not unheard of either. Then there's your annuity on top of that. Somebody who takes this route and really works their ass off by age 22 can have a net worth of a few hundred thousand dollars.

Meanwhile, you have people who take the college route, take out a bunch of loans and earn a degree in philosophy, and at age 22 they're 50 grand in debt and can't command much more than a $10/hr salary. But hey, they can tell people that they're educated!

And the catch with most of these trades is that you can't have a debilitating fear of heights.

Where are the jobs that don't wear down your body, don't put you under intense fear of death, wont drive you to suicide, don't require an education, don't take years to start, and pay enough to make a living and a bit of luxury money ($30+/h)?

And that he's probably massively over exaggerating

he's not

my friend's boyfriend is a master electrician making $75-85 an hour at 23 years old

That's not a teenager

Yeah but he's been making almost that much since he was a teenager. He just bought a $300k house and a brand new $40k truck
---

Hope the school sues or finds a way to make him pay. Thievery isn't cool.
---

i don't think you could pay me 90k to move to china.
---

_Goggalor_ posted...

Hope the school sues or finds a way to make him pay. Thievery isn't cool.

they can repossess his textbooks
---

What is there to sue for if he has no assets? He can't get rid of the loan in bankruptcy so the lender has a worthless note and the borrower is stuck with a loan he can't repay nor can he get a fresh start outside of leaving the county.
---