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The Water Cooler
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Tips to save a dollar
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<blockquote data-quote="BillM" data-source="post: 4248879" data-attributes="member: 45785"><p>Not quite. Mine's enough that I could have bought a new made-to-order Monarch 10EE real freaking lathe. Or a much nicer house than I did. Covid killed my job, and my loans were not government financed, not that I had a choice in that. So I wasn't eligible for a lot of the stuff they did for folks with actual government loans. Except for income based repayment. For which my payments weren't even covering the interest. I paid somewhere around $130 a month for a bit over 7 years, and my student loans grew from just over $100K to nearly $120K. COVID killed the job, and forced me to retire just before I turned 65. Which essentially halved my income. Once the COVID "protectiions" for student loans timed out, they recapitalized and added to my loans almost $20K more interest. So now I owe nearly $140K. In a bit over a month, I'll be 69. Working on the credit card debt & consumer debt now. If/when I manage that I'll start working on the student loans. If I live to 90 I may manage to pay them off. </p><p></p><p>Getting a job would help, but my wife is chronically ill, and I'm spending my time as a full-time caretaker for her. So no new (or new to me) guns for me.</p></blockquote><p></p>
[QUOTE="BillM, post: 4248879, member: 45785"] Not quite. Mine's enough that I could have bought a new made-to-order Monarch 10EE real freaking lathe. Or a much nicer house than I did. Covid killed my job, and my loans were not government financed, not that I had a choice in that. So I wasn't eligible for a lot of the stuff they did for folks with actual government loans. Except for income based repayment. For which my payments weren't even covering the interest. I paid somewhere around $130 a month for a bit over 7 years, and my student loans grew from just over $100K to nearly $120K. COVID killed the job, and forced me to retire just before I turned 65. Which essentially halved my income. Once the COVID "protectiions" for student loans timed out, they recapitalized and added to my loans almost $20K more interest. So now I owe nearly $140K. In a bit over a month, I'll be 69. Working on the credit card debt & consumer debt now. If/when I manage that I'll start working on the student loans. If I live to 90 I may manage to pay them off. Getting a job would help, but my wife is chronically ill, and I'm spending my time as a full-time caretaker for her. So no new (or new to me) guns for me. [/QUOTE]
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