Track Titles To Say What?? Copyright (c) 1999-2014 Mark Turns.
1). Five Years Is Too Long To Stay On Any Job?
3). War On Poverty? Hah!
I feel that education is very important but, not at the expense of staying in debt for 10-20 plus years, if not for the rest of your life. Student-loans are considered debts and they do go on your credit-report. It will also affect your income-to-debt ratio too. Whether or not your credit-score is good, if your income-to-debt ratio is very near, at or greater than 35% it will be difficult for you to rent, get a mortgage, buy a new vehicle or to get a loan for anything unless, you have something of value that will secure the entire value of that loan(s). Your income-to-debt ratio being very near, at or greater than 35% can also potentially lower your credit-rating. Lets not forget medical-bills, tax-liens, alimony, spousal-support and child-support are all also considered debts and are all reported to the credit-bureau(s) just like any other debts. There are many people who are struggling to pay one, some or all of the above-mentioned debts all at the same time along with their other everyday living expenses.
Student-loans, medical-bills, tax-liens, alimony, spousal-support and child-support are also some of the major reasons why many people may have less than perfect credit along with not being able to gain nor keep employment. These same major reasons are also why many people will not and may not be able to save money, retire nor live on their own. Having to pay higher healthcare premiums after retiring is also another reason why many people will not and may not be able to retire. When people have to pay student-loans, higher healthcare costs, medical-bills, tax-liens, alimony, spousal-support and child-support the possibility of going into poverty and remaining in poverty along with having less than perfect credit does exist for them. Not being able to retire and having less than perfect credit are not always the results of poor financial planning or poor spending habits. Even if your home/property is paid for the upkeep/maintenance along with the property taxes will still have to be paid and maintained. Retired or not, living expenses are continuous. The current cost of living is high and it’s not decreasing.
“Education” and “You must have an education” along with other similar statements have all been twisted and exploited for several years as a means for guilt trips and for gaining profit. There are many people whom have lots of education that cannot find a job. The ones whom are fortunate enough to find a job, that job may not pay in accordance to their level of education. In other words, they’re making a lot less than what they should be. Even with the available scholarships and grants for school and college you may still end-up being stuck with a huge debt(s). If you default or are delinquent on your student-loan(s) it will hurt your credit-rating. Even if you ask for a deferment on your unpaid student-loans the student-loan company may still report you to the credit-bureau as delinquent along with the interest that may still add-up on that student-loan(s). Furthermore, the debtors can also garnish your wages, tax-returns, lottery/gambling winnings and can also place liens against your bank-account(s), savings, retirement(s) and any other properties and assets as allowed by law if you default on your student-loan(s). This process can go on for several years including, for the rest of your life.
If you default on your student-loan(s) you may also end-up owing double, if not 3 times or more of the original amount of the student-loan(s). This will also affect any and all co-signers on any and all student-loan(s) as well as the actual signer for the student-loan(s). The preceding and all of the following situations and scenarios in this article has caused many people to unintentionally and intentionally, become poor stewards of their finances and to also compromise their moral values and beliefs. Many have also been forced into having to max out credit-cards and also having to borrow money from alternative finance companies/lenders at higher interest rates. In these situations, it’s more about survival and trying to live. Consumer Credit Counseling, Life Skills Classes and Debt Management programs are of very little help, if any in these situations because the bottom-line is the creditors are still going to want their money, regardless. Plus, you’ll still have the default(s)/delinquent reports on your credit and your income to debt ratio may still be very near, at or greater than 35%. There are times when living within ones financial means is a lot easier said than done. You currently cannot write student-loans or child-support off in bankruptcy. When it comes to student-loan forgiveness programs that may take up to 10 years to complete, that’s no help especially, when your life, your finances and your credit is being ruined and disrupted in the present which could also have negative affects on your future. There’s currently no statute of limitations on student-loan debt.
How do you determine if a student-loan is affordable? Regardless of the student-loan interest rate If the student-loan(s) makes your income-to-debt ratio VERY near, at or greater than 35% that student-loan(s) is not affordable. The additional way to figure is if you can’t make your whole-entire monthly rent or mortgage payment AND your monthly student-loan(s) payment together out of one of your bi-weekly paychecks that student-loan(s) is not affordable. If your current income-to-debt ratio is already very near or above 35% without any student-loans the rest is already self-explainatory. This is with regard to your normal everyday living-expenses. When you go to school or college you still have to live and you need money to live on. Refinancing options for student-loans may be available but, all of the above-mentioned must still be considered. Sacrifice and taking responsibility can become very grey areas especially, when it comes to student-loans and expenses because you yourself, may end-up being the actual sacrifice in a non-positive manner. Investing in one’s future is positive but, it can also have a very negative effect or outcome. Think about this. What if an emergency arises to where you have to apply for a loan to remedy the emergency situation or problem but, due to your income to debt ratio being VERY near, at or over 35% you can’t get the loan? Now what? People more often than not, are not going to be sympathetic about you being in school and having student-loan debt(s). Life happens and life is not going to wait. It’s been said that if you make good choices in life good things will happen. The reality is life doesn’t always turn out the way you may think or may expect. There have been many people whom have made good choices along with being law-abiding citizens have their lives changed by being critically injured or killed by drunk-drivers. The law-abiding citizens were doing all of the right things in life but, they didn’t know their lives would be changed by unintentionally crossing paths with those drunk-drivers. This is just one example among many others. It’s important to make good choices but, you never know what life may have in store despite your choices. Think about the example that I’ve given earlier about college-graduates whom either can’t find a job or get a job that pays in accordance to their level of education.
The qualifying process for getting scholarships and grants should be simple. If the cost/loan for that school or college makes your income to debt ratio very near, at or greater than 35% you should automatically qualify for a full scholarship or grant. After all, society is preaching education so therefore, there shouldn’t be any difficult hoops, guesswork and hurdles to go to school nor to get monies to go to school, period. Furthermore, there shouldn’t be any difficulties in getting employment that pays a livable wage. The media will mainly show college-students/graduates whom have successfully completed college and may have also gotten good jobs however, the media will very rarely show college-students/graduates who’s lives have been ruined as a direct or indirect result of student-loans. They may have a degree(s) or an undergraduate study but their lives are ruined. These same college-graduates and undergraduates are also mocked in every way and from every avenue. Many people are in these situations and sadly enough many more people will end-up in these situations if the current student-loan structure stays as it is and isn’t changed. The people, the schools/colleges and the companies promoting and facilitating these student-loans are all fully-aware of this. Officials and companies directly and indirectly linked to all of the other previously mentioned debts in this article are all fully-aware these debts can severely disrupt people’s lives and their finances. Recent statements have claimed that college-educated people stay married longer and happier. I have news for you. College graduates get divorced too just like everyone-else. Plus, if the person that they’re married to has student-loan debt and they, themselves have student-loan debt they may have no choice but to stay “Happily Married” especially, if one or the other knows they may have to pay their spouse child-support or spousal-support as well as their spouses other expenses/debt, if they do get divorced. Get the picture? When you marry someone their debt automatically becomes your debt, regardless of current or preexisting debt. It’s true. Whomever you’re legally married to his/her creditors can legally come after your wages, bank-account(s), retirement(s) and other assets regarding your spouses delinquent/unpaid debt. It’s unfortunate that many people have married someone whom was dishonest about their true financial and employment conditions and then the truth came out after they were married. This still happens. Can these factors interrupt and disrupt marriage and marriage plans? Yes. Military-personnel and public-employees whom are legally-married or whom become legally-married their retirement/pension through his or her employer is marital-property, by law. What this also means is before the military or public-employee can draw or receive their own retirement/pension his or her spouse will have to sign for him or her to receive their retirement/pension. This also includes divorces. There’s also the existing possibility of one of the married couples losing half if not all of their retirement(s) and other assets to their spouse, if they do get divorced. Another reason why many people continue to work past retirement age is because, there may be a legal clause in their divorce that his or her spouse receives at least, half of his or her retirement when they do retire. The spouse whom may lose at least, half of his or her retirement to their spouse in a divorce may then be left with less than enough income necessary to retire/live on so this is why he or she may keep working.
The difference between then (the mid-1970’s and prior) and now is student-loans did not go on your credit unless, they were through a traditional bank/financial institution. College wasn’t as expensive as it is today and there were many people whom were able to work their way through college. Furthermore, many people had tremendous financial assistance that may have also included inherited wealth from their parents or other relatives/friends in paying their way through college, starting businesses and also in starting out in life. Some may have even been fortunate enough to receive full scholarships to college. There are many people whom are successful but at the same time, they may be stuck with student-loan debt that may have turned their lives upside-down in a negative way. To backtrack a little, are you aware if you and your spouse live in a community-property state and then you both divorce the other spouse may have to pay their spouses unpaid student-loan debt even if they, themselves didn’t sign or co-sign for their spouses student-loan debt? The same could also happen if the married-couples live in a community-property state and then their spouse whom has unpaid/defaulted student-loan debt dies. Couples who live together in states that currently recognize common-law marriages could possibly end-up in these same situations too. When you marry someone their debt becomes your debt, regardless. It’s a good-idea to be mindful of whom you live with in states that currently recognize common-law marriages especially, if you aren’t related to him or her by blood or by law. A law was passed in June 2015 recognizing same-gender marriages in all states and there are still legal penalties for bigamy too. It’s also a good-idea to be very mindful of whom you have sexual-relations and children with outside of wedlock because of the current legalities that are in place.
People have remarked that a person is nothing without an education and that they wouldn’t marry anyone whom doesn’t have an education. This can easily be a two-way street because, taking in view of what you’ve just read and listened to, so far would you marry anyone who has a lot of student-loan debt? Or who has student-loan debt that they can barely pay, if it all? Would you marry anyone who has a lot of debt, period? Question: Why are people age 30 and older still paying student-loans that they took out at age 18? They shouldn’t be however, the way that many student-loans are currently structured this may be a reality for many people. College isn’t for everyone. Don’t be fooled by appearances just because a person has an education, a fancy car, a fancy house and dresses nice because, they may not have anything but bills and expenses, period. What is their net worth? Now lets go on.
Many of the financial-relief and the financial-gain suggestions/strategies that have been offered to and are still being offered to the working-class and to the poor may end-up exploiting them along with making them more worse off financially including, financial ruin. Furthermore, many if not all of the financial-relief and the financial-gain suggestions/strategies that have been offered to and are still being offered to the working-class and to the poor may be primarily sophisticated schemes for profit, control and dictatorship to primarily benefit the wealthy and to exploit the poor and the working-class. It takes money to make money as well as to resolve financial difficulties, period. Tuition reimbursement programs for higher-education are of very little help if any especially, if you’re already having financial challenges or are underemployed. Predatory lending practices that also include housing and financial-assistance for higher-education just to name a couple of areas can end-up becoming VERY costly to consumers. Just a quick note. When it comes to refinancing a home or property you have to be careful because, you may end up actually owing more on that home or property than what that home or property is actually worth. Think about it. Predatory lending/funding is not just among housing and current higher-education costs there are also MANY other areas where this will apply too. Just think where ALL of this money really goes. Just Think! (Remix) https://m.youtube.com/watch?v=2kgBkcx4k94 Where is your money going? It could also be subconscious alcohol
is where your money is going to as well. I would like to take a few moments to touch on the subject of society criticizing adults who still live at home with their parents. Guess what? The famous Paul Harvey “The Rest Of The Story” quote along with his relative quotes need to be applied regarding this subject. The adults who may still live at home with their parents may not be the stereotyped bad and irresponsible people as many may presume. Furthermore, they aren’t significant cases as compared to many other people, couples and households in this society. Listen to the following sound-clip (What Is The Difference? Remix)
and see why. There are many adults, couples and households that do fall-under one, some or all of the scenarios and situations that are mentioned in the above-mentioned “What Is The Difference? Remix” link/sound-clip. People are TOO concerned about what other people may think and this is one of the things that gets people into trouble that also includes financial hardships. There are times, when grown adults are so ready and quick to get rid of their parents when their parents become older by placing them in a senior facility or senior care. The grown adults will then become too busy to be bothered however, they’ll waste no time visiting or contacting their senior citizen parents when they need money, services or someone to co-sign for something. In other words, only when they want something. Do you realize if you go into a senior care facility/home the possibility exists that senior care facility/home will have control of your preexisting finances and assets? Would you REALLY want that? **See the above-mentioned video/link “Just Think! (Remix)” ** There’s going to be a cost either way whether a senior stays with family or in a senior care facility/home.
Here’s a recap. If you default on your child-support or are delinquent on your child-support payments it will hurt your credit-rating. The courts can also garnish your wages, tax-returns, bank-accounts, lottery/gambling winnings, legal settlements and can also place liens against your retirement(s), properties and any other assets as allowed by law for child-support. If you’re not careful, you could possibly end-up paying child-support for a number of years including, for the rest of your life. Additional legal actions can also be taken if you refuse to pay or if you’re delinquent/default on child-support, alimony or spousal-support. Child-support doesn’t cease when the child(ren) turn the age of majority as long as back child-support is owed, period. It makes NO DIFFERENCE if the child(ren) are at or far above the age of majority. In other words, there are no statute of limitations on child-support. In this current society women as well as men do pay child-support. It’s true. Before I continue, I would like to say something about the current Social-Security System. They raised the Social-Security retirement age from age 62 to age 67 because, the excuse given by officials is that people are living longer. That’s a weak excuse. People deserve to enjoy life when they work hard. I feel that the Social Security retirement age should be moved back to age 62 because, it seems that many officials are hoping that you’ll die before you’re old enough to collect it so that they can keep what you’ve paid into Social-Security. That’s totally unfair as well as another cleaver scheme for profit to benefit the wealthy. Just think. If just 5000 people whom have worked and paid into Social-Security pass-away before the age of 67, think about how much money that is. Here’s some additional food for thought concerning Social-Security. There’s the existing possibility of the Social-Security recipients benefits actually being reduced or terminated if he or she gets married.
I think that there should be a law abruptly passed making it illegal for employers or anyone to check anyone’s credit whenever they apply for any job or to use credit as an excuse to deny employment and to terminate employment. Credit has nothing to do with how well a person performs their job. Every time an inquiry/check is made on your credit within a 6 month-1 year timeline this can hurt your credit especially, if there are several inquiries/checks made against your credit within the above-mentioned timeline. This is the other reason amongst other reasons why many people have given-up as far as seeking employment. Question: If a persons credit is going to be used as one of the determining factors in getting and retaining employment then why would anyone take a chance on going to college along with using student-loans or any other financial resources to pay for college? Think about it. If a person can’t get a job nor retain a job because of his/her credit then his/her expenses which could include student-loans may snowball out of control and also bring on more issues. There are many times, when risk and foolishness are two totally different things. Whether or not you have a college-education you’re going to be in a catch-22. People also realize there are times, when politics that also include age-discrimination can also be a factor when seeking employment. Listen to the following sound-clip titled: “Qualified Person Or Candidate.”
I think that jobs should be brought back such as the jobs at General-Motors, AT&T and Anheuser-Busch where the people were making good-pay right out of high-school and could support themselves and a family. Society doesn’t have any issues with professional athletes and college athletic coaches making millions of dollars per year along with supporting them but, they have issues with people whom are willing to work earning a livable wage. Something is wrong with that picture.
Another thing to keep in mind, is when people say that 3-5 years is long enough to stay on a job this can hurt you especially, when you apply for housing and credit. If the lender sees a job-hopping pattern or pretty much instability in your employment history this can hurt you as far as getting housing and credit. In other words, the lender may be very hesitant. Longevity on a job can be a big help when applying for credit. Longevity on a job can also play a key role when applying for a job because, if a potential employer(s) sees instability in your work-history this can hurt you when being considered for a job. Overlooking potential employees for employment because they’ve stayed on a job or in a position for what many may consider to be too long is a form of discrimination. If you’re already rich and have money then none of this may apply to you however, think about all of this seriously and deep. The other thing to think about is unless, you have a full-time job or position making 300-plus dollars an hour, how would you be able to save/plan for retirement if you only stay on a job 3-5 years? Full-benefits and job-security are important on every job too.
With knowing your income-to-debt ratio being very near, at or greater than 35% could hinder you financially here are a few more important questions. The people, regardless of who they are that may try to pressure you into going to school and taking out student-loans what financial positions are they willing AND able to take to relieve you of those student-loans and your other bills if something happens to where you are unable to comfortably pay and keep current those student-loans along with your other everyday living-expenses? I’m also speaking in terms of if you either cannot find a job or get a job that pays in accordance to your level of education to pay your student-loans and your living expenses. Will they also be able to prevent and remove the bad credit-rating(s) from your credit that directly and indirectly resulted from the delinquent and defaulted student-loans? Will they be able to rent or buy you a decent place to live with no obligations? Furthermore, are they willing AND able to relieve you of those student-loans and the liens placed against your properties, wages, assets, retirement(s), etc. with no obligations, whatsoever? Remember. It’s your credit, your future, your assets and your finances including your retirement and your income-to-debt ratio that are all going to be placed at serious risk. Not theirs. Why would you line the pockets of another person(s) or institution(s) pockets at the expense of your own pockets becoming MORE empty? Think about it. In other words, how’s that really going to be beneficial to you? Who’s REALLY reaping excellent financial benefits between the school(s) and the student(s)/graduates? You may get an education however, you still need money to live on. When it comes to student-loans, medical-bills, taxes and child-support the creditors, The Government and the legal-system are not going to take no, maybe or I’ll think about it nor any similar answers as far as them being paid. When it comes to school and student-loans there’s a VERY thin line between making excuses and facing reality. Anyone whom has thought about attending college is within their rights to deeply question the sincerity of anyone, any company and any school/college that may express “We want you to succeed and to be successful” especially, if they want you to take on student-loan debt to pay for school/college. You may just “succeed” and be “successful” in being trapped in tremendous turmoil regarding student-loan debt along with your other living expenses. There are alleged concerns about people working long-hours just to make ends meet and this is the objective of a college-education. However, these same alleged concerns do not seem to be present when it comes to undergraduates/college-graduates working long-hours and in many cases, extra jobs to help pay their student-loans. People will more often than not tell you what you want to hear just to get what they want. The question “What can you do without an education?” has always been brought up however, what kind of future would you really have being loaded-down with student-loan debt along with your other living-expenses despite you having a job and an education? What kind of future would you really have being legally-married to someone in the same situation? One or a few major medical-bills could cause everything to be destroyed financially. When you take on student-loan debt or if you’re thinking about marrying someone whom has student-loan debt this is something additional to think about, regardless. What would you do if you got into a bad situation regarding some, if not all of the above-mentioned and then no one is around to bail you out nor is willing to bail you out? Do you, yourself have a legitimate plan that will bail you out financially? These same questions and scenarios also apply to any and all school and tax-levy measures and also to excessive financial church tithing that may not be legitimately needed. Think about If something happens where you are unable to comfortably pay your taxes on your home/property along with your other bills. Who’s going to bail you out? Do you have a financial bailout plan?
Education is currently being viewed as an investment by many people but, isn’t it true that you’re suppose to receive a good return on your investment? Example. If you go to college and borrow 30-45 thousand dollars in student-loans and then graduate college, owing the 30-45 thousand dollars but, you can only get a job making 30 thousand dollars a year. With respect to your other living expenses and the interest on the above-mentioned student-loans you’re not really getting any return on your investment because, your income to debt ratio may be near or greater than 35% and you have to figure in the actual monthly cost of the student-loans which may end-up being a huge portion of your net monthly income along with your other living expenses. Investment? Or liability? In the above-mentioned scenario you’re actually losing money. You also stand a chance of losing more money if you cannot find a good-paying job or if something happens that causes you to be delinquent or to default on your student-loan(s) which can in turn, affect your credit, your other bills and your other living expenses in a negative way.
Think about this. What if you and your spouse are buying a home or own a home and then one or the other dies? Your spouse may have willed you and possibly your family members their portion of the house however, if the spouse who died has delinquent or defaulted student-loan debt, the student-loan creditors can put a lien against that property meaning you and your family members may end-up with VERY little or nothing at all. This would all depend on the actual value of the property and also the actual amount of the unpaid/delinquent and defaulted student-loans. This same thing could also happen if a spouse who dies owes delinquent/unpaid child-support too. People have remarked that college graduates make more in a lifetime than people who have just a high-school education. That depends. The college graduate may be making more however, depending on their salary, if the college graduate is paying out a good portion of their higher-income to student-loans over a long period of time along with their other living-expenses, they’re not really making any money at all. In this situation, their education is primarily status. It’s simple math. If you’re paying out more than you’re bringing in, you’re not making any money. It’s even MORE worse if you can’t find a job or if it takes you a long period of time to find a job. What adds more to the problem is that there are employers that may tell college graduates that they’re over-qualified because of their college education. If you were to start school or college and borrow 30-thousand, plus dollars to pay for school or college and you have no job to start with, guess what just happened? You’ve potentially destroyed your income-to-debt ratio and possibly your credit from the very start. Even if you have a limited or part-time employment, it may still be the same deal regarding your income-to-debt ratio and your credit. If you’re already rich this whole matter may not concern you.
If it’s a situation where you have the money to pay for 2-4 years of college without assistance from any student-loans and you get a good-job making a very decent salary you MAY then consider college a positive investment that may open up many opportunities. Does a college-education open up opportunities? This can be a yes and a no when you take in view ALL of the above-mentioned. There are no guarantees but, if you do attend college or a technical school make sure they’re fully-accredited.
http://lilgoat.com/?page_id=665 (People & Things Are Not Always As They May Seem Or May Sound. Never Assume)
http://lilgoat.com/?page_id=18 (No Oppression, No Gossip)
http://lilgoat.com/?page_id=27 (Subconscious Alcohol)
http://lilgoat.com/?page_id=10 (About Mark Turns)
http://lilgoat.com/?page_id=528 (Food For Thought)