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DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » USA Social Mobility = Get... » Reply #24

Response to JoePhilly (Reply #22)

Sun Jan 13, 2013, 10:53 PM

24. "And so again ... the OP wants people to base a lifetime on 8 months. Its nonsense."

My response was based on your statement above, which was taken from the article, not the title ... I will not engage in strawman

However since you brought it up, I will prove to you and anyone else reading this that it is debt for a lifetime or forever in my book ...

If you take thirty six year old Steve's $75,000 school debt and amortize this debt over 30 years you get a monthly payment of $462.00 ... which I would argue that he will not be able to afford this monthly payment in the current employment environment ... so his payment will be less than the $462.00 which will increase his term length to the end of his life ...

My point is that Steve has a lifetime debt load on his future income ... unless of course he finds a rich aunt or uncle ...

http://www.cnn.com/2012/12/06/opinion/bennett-student-debt/index.html

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Arrow 24 replies Author Time Post
MindMover Jan 2013 OP
TheMightyFavog Jan 2013 #1
Fumesucker Jan 2013 #23
exboyfil Jan 2013 #2
Downwinder Jan 2013 #3
Buzz Clik Jan 2013 #4
exboyfil Jan 2013 #5
Buzz Clik Jan 2013 #6
MindMover Jan 2013 #7
Buzz Clik Jan 2013 #8
MindMover Jan 2013 #10
Buzz Clik Jan 2013 #11
MindMover Jan 2013 #12
Buzz Clik Jan 2013 #15
MindMover Jan 2013 #16
uponit7771 Jan 2013 #9
MindMover Jan 2013 #13
gollygee Jan 2013 #14
Ken Burch Jan 2013 #17
JoePhilly Jan 2013 #18
MindMover Jan 2013 #19
JoePhilly Jan 2013 #20
MindMover Jan 2013 #21
JoePhilly Jan 2013 #22
LineLineLineLineLineLineNew Reply "And so again ... the OP wants people to base a lifetime on 8 months. Its nonsense."
MindMover Jan 2013 #24
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