I had a total of $62,000 of student loans. I fully believed that. 0% interest was as good as it was going to get. I got a second job and paid off my student loans during the pandemic. I am so happy that student loans are now behind me. I do have friends that instead of paying down their student loans bought 2 new cars and took vacations to Florida ( it was still open). I worry about how they will pay it back with all this new debt.
Problem is the people missed the golden opportunity. During the pandemic was the time to payoff the loans. Why? Because over the last 3 years there was zero free interest on loans both in Canada and the US. All you had to do is pay the principle and double up. So glad my friends and others did this. For anyone else watching this do no rely on the government to help you. Payoff your debt today. You took the loan out. Be responsible.
‘All you had to do’ does not apply to everyone’s circumstances. Some could barely afford to pay before pandemic. Doubling up was not possible for many, whether there was interest accruing or not. I understand your point though. It’s definitely a great plan if you could afford to do so.
I worked my butt and used 2020 to January 2021 to pay off all my fed loans. It sucked but it was nice seeing it go down when there was 0% interest. Definitely hard for many to do it, especially when people were losing jobs.
The current make up of the Supreme Court would never agree to Biden's plan. I was down to about $2500 before the pandemic and I have still been paying a little here and there. I have about $1400 left. Once the Supreme Court makes its ruling I will pay the rest. I think a lot of people took out more loans than were necessary so I personally don't think widespread forgiveness is a great idea. I know people who used student loans to buy luxury vehicles. I really don't want to pay for those people and their cars. I'm happy to pay what I owe.
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I had a total of $62,000 of student loans. I fully believed that. 0% interest was as good as it was going to get. I got a second job and paid off my student loans during the pandemic. I am so happy that student loans are now behind me. I do have friends that instead of paying down their student loans bought 2 new cars and took vacations to Florida ( it was still open). I worry about how they will pay it back with all this new debt.
We wanted to be completely done with it so we paid off our school loan balances immediately after we sold our house (before we bought another one).
That’s amazing! I bet it feels great not having that weight on your shoulders anymore 👏🏼
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Problem is the people missed the golden opportunity. During the pandemic was the time to payoff the loans. Why? Because over the last 3 years there was zero free interest on loans both in Canada and the US. All you had to do is pay the principle and double up. So glad my friends and others did this. For anyone else watching this do no rely on the government to help you. Payoff your debt today. You took the loan out. Be responsible.
‘All you had to do’ does not apply to everyone’s circumstances. Some could barely afford to pay before pandemic. Doubling up was not possible for many, whether there was interest accruing or not. I understand your point though. It’s definitely a great plan if you could afford to do so.
I worked my butt and used 2020 to January 2021 to pay off all my fed loans. It sucked but it was nice seeing it go down when there was 0% interest. Definitely hard for many to do it, especially when people were losing jobs.
@@Saltysarah32 Congrats! That's a big win!
@@melaniesmith1928 thank you! It felt so good when I paid my last payment!
You're absolutely right! Golden opportunity indeed.
Great information!
The current make up of the Supreme Court would never agree to Biden's plan. I was down to about $2500 before the pandemic and I have still been paying a little here and there. I have about $1400 left. Once the Supreme Court makes its ruling I will pay the rest. I think a lot of people took out more loans than were necessary so I personally don't think widespread forgiveness is a great idea. I know people who used student loans to buy luxury vehicles. I really don't want to pay for those people and their cars. I'm happy to pay what I owe.
“Reluctantly” 😂