josh asked:


I truly feel that we have way to many ignorant college bound individuals who are aquiring a great deal a debt for college degrees that a drastically losing their value.

The degree system as I like to call it, seems SO very much overcrowded and very poorly instructed. It seems to me, many of the students are unaware of the working environment and have very little practical skills. This is something I have recently noticed because I recently finished a couple classes on campus at UAA, the rest I will finish online.

About me: I’m a first year Journeymen Electrician and I completed a 5 year apprenticeship with the union IBEW. It qualified me for enough credits that I only needed to take a handful of classes to obtain my associates. I never needed loans, as the apprenticeship doesn’t cost anything, I worked most the year and took 2 months off each year for classes. I’ve been able to put money aside in addition to purchasing a small house. (I hate throwing money into rent).

I was speaking with a student at the campus starbucks who was 56,000$ in debt and about to graduate. I was wearing my work carharts and dirty boots to class because I just got off work. It was difficult for him to understand that someone near his age, poorly dressed as myself, with no college education, makes (after my associates) 39$ / hour take-home on top of excellent benefits and retirement, which he claims is more than he could ever hope for. Now he is trying to get into the Union Apprenticeship Program and has been emailing me for advice. He’d start out at 18.50$ an hour take-home on top of benefits and retirement, coming out to be over 30$ an hour if on does the math. He said he was never aware of many of the available options after highschool and college was always pushed upon him because he was a high performer.

Why was this not a strong option pushed at him when he was graduating from highschool? If he goes the apprenticeship route, It seems to me like college was a big scam. He’ll be paying that damn loan off for the duration of his apprenticeship rather than being able to invest in a home.

What is wrong with the youth today? College campus felt like a herd of sheep all trying to jump a fence for greener pastures, all dishing out a bunch of money in mid-flight, then receiving a colored tag stamped into their ear when they landed on the other side. But there is a way to sneak under the fence as well, but not nearly as many do it. I don’t get it.

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Cugador asked:


I’m a single guy in my mid 20’s, and I’m FINALLY moving out of my parents’ house soon, and buying a 3BR townhouse by myself. I already got the loan and everything and should be closing any day now. The place needs a lot of repairs, plus I don’t have any furniture/home furnishings, so I’m gonna have to buy all that.

Even though the bank and the online calculators say I should be OK, I was just wondering what other people think. Would I be able to live alone COMFORTABLY and not have to pinch my pennies?

Here’s my financial situation:
My monthly pay is about $5100 gross/$3500 net (although my job security is a little shaky right now)

My mortgage+tax+insurance+HOA fees will be about $1250/month
I have a $370/month car lease payment
I have a student loan payment of $93/month (although I’ve always payed triple that to pay it off quicker)
I always pay my credit card off in full at the end of the month.
I have no idea what other bills/expenses are gonna be like.
I should have about $45k in cash left over after closing.

I never had to worry about what I spend on because it was always less than my income, and now I’m not sure.

Any opinions?

BTW, I live near Philly.

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Darek asked:


I got a letter today from a small local finance company saying I can get this FHA payment reduction:

As mandated by the Federal Housing Administration (FHA), the FHA loan obtained in December 2008 is now due for a Payment reduction of $33.51.

Additionally, as part of this FHA payment reduction and in conjuntion with the AMerican Recovery and Reinvestment Act of 2009, you will not have a payment due for a minimum of 30 days from your participation date.

FHA guidelines require that all FHA loans be given equal and fair access to this payment reduction………

I researched some bits online about this and called the number on the paperwork and he told its basicly called a streamline refinance or something, And he says it wont cost me nothing and wont change anything but lower my payments (no closing costs or anything). He says they buy the loan off of my current lender and then lower the APR then sell it back or to another finacne company.

Anyone have ever done this or have any info on this?? Im a first time buyer and only been a home owner for about 10 months and dont know if this is a scam or if theres a draw back or something???

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Incumbent asked:


Their rates look better than any others I’ve seen but I’m a bit wary of going with an online lender. Specific answers other than they’re bad will be greatly appreciated! Thanks.

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huevones3 asked:


Will I be blind-sided with phone calls tomorrow? Has anyone had good or bad experiences with them? Thanks in advance for any answers.

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ssucb2010 asked:


I was researching stuff about my cat when I came across a yahoo answers question that an unmotivated 16 year old left, wanting to know what was wrong with him/her… and others replied saying he/she may be depressed, so I was wondering if I could possibly be depressed?

I’m a 20 year old (female) college student at UC Berkeley. I don’t have much friends socially, but do have a lot of friends that I meet up with only if I need to study or something. So I don’t go out and socialize much, but it’s more cuz I don’t have any friends and don’t wanna go to a party by myself. When I go home, I go out a lot more. My biggest concern is that I have a lot of trouble concentrating and lack motivation. A lot of the times I just want to watch tv, go online, or play with my cat/dogs. I usually don’t feel motivated to study or do HW until 10pm the night before and so I end up cramming. I want to go home all the time, and I do get home sick, but I feel like it’s something more serious than that. Sometimes after I make a mistake or get bad results on my exam, I do think in my head that I’m a bad person and need to make myself more useful. Also, even on days that I get a good amount of sleep, I still feel physically drained… most of my stress stems from money and college loans and not knowing what I’m gonna do after I graduate. Also has a lot to do with my mom and how she wants me to do well in school, but I’m not performing at the level that I should be. I feel like I can never do any better even if I did study, just because I have a lot of trouble concentrating. When I read a physics problem, I have to reread it 10 times before I can understand it cuz I can’t concentrate. Most of the time, I’m thinking about other things in my head, like if I’m out studying with friends and we read over a question, I always wonder about the most randomest things instead of concentrating on reading the question. I’m not on drugs and only drink alcohol like once a month… sometimes I do feel lonely, and I always wait til others invite me out… like I have a fear of rejection or something… so could I be mildy depressed or if I’m not, am I in danger of being depressed?
I also wanted to add that even when I’m home, I can’t concentrate on school work. Concentrating seems to be more of a problem when I’m at home. I have better luck studying when I’m in Berkeley, even if it’s minimal.

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Shar asked:


My daughter started taking a college course online with Ashworth college. She did not borrow money from the federal government or take out student loans except she had to pay the school directly.

It has been years since she was enrolled with them and dropped out without paying the remainder of the course.
Now all of a sudden they are hounding her for their money and offering settlements.
Since this isn’t a federal student loan or a bank loan, how long of a period has to elapse before they can start contacting her again? I think it’s been 7 or so years since she heard anything from them until now.

settlement loan

Rick asked:


I’ve started dating this woman, she is 29 years old a virgin and still living at home with her parents. I just met her online and have been talking to her and went out on a few dates. It really bothers me that she is still living at home.

She is a college graduate, has a decent job (that has nothing to do with her passions) but still lives with her parents. She says she is living there to pay of debts i.e school loans and a couple of medical bills she has.

But I can’t get past the fact that she is practically mooching off of her parents. I find this to be a huge turn off. Every time I talk to her I can’t help but think she has no ambition in life and is possibly lazy or worse, bad with money.

How do you guys feel? Would this bother you about a potential woman you were dating?
Thanks guys,
Rick
Actually she doesn’t pay any living expenses to them. No rent, utilities or for food. Her parents definitely aren’t posh. It’s too soon to say I love her. I don’t think I can trust her to be a responsible adult.

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Shorty asked:


I had a property settlement drawn up in my divorce that stated that I would not persue alimony in my divorce if my exhusband took full financial responsibility for a 2002 mitsubishi eclipse loan. Well after the divorce he had the car repossed because he didnt pay the loan and then filed bankruptcy. The loan company then came after me for the monies owed so I had to file bankruptcy. Anyway my question is, since he didnt take financial responsibility on the car like agreed in our property settlement, do I have any claim to file for alimony or damages?

settlement loan

Kimberly M asked:


In June, I got involved with a debt settlement company that has caused me nothing but trouble. I got my money back from them, but my two bank of america accounts were sent to arbitration. I am having trouble getting a loan to pay off the accounts because of the 30 days past due notice on my credit report for those accounts. Even with a co-signer with perfect credit, we have ran into various problems, such as living in different cities. My parents said to contact a lawyer and they would be able to set up payments for me, but I am wondering what that will do to my credit.

Thanks!
The collection people said I still have a pretty good credit score, but I just want these past due balance notations to go away so my score will go back up. I have never made a late payment before. I don’t want to file bankruptcy either as I would like to buy a house in a couple years. The payments they offered me are $1800 per month for six months. I can’t afford that.

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