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financial advisor needed for student loans

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  • financial advisor needed for student loans

    alright I will need 6K for 6 months (my employer reimburses me at the end of the semester); however I am responsible for the upfront payment. Unfortunately I don't have that kind of money to throw down.
    Any advice from a sharp thinking paleo financial advisor ?

    Look what happens when you go paleo, you get a bunch of energy and go back to school while continuing to work

  • #2
    Home equity line of credit or a title loan on you car (assuming you own it and it's worth enough). I'd bet you could get a short term loan form the bank if you have good credit- you'll like need to be making payments for 6 months whatever you do.

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    • #3
      No, no, no. NO. Bad idea.

      Currently doing both full time work and full time school. It SUCKS!

      Best bet, seek out Dave Ramsey's books on finances and follow it to the letter. You will not find bad financial advice there.

      As for the current moment... if you can't pay for it now without working extra, maybe it's better to put it off for 6 months while you save up. Just work like a crazy person until you have 6 grand to throw down on school.

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      • #4
        Originally posted by el_barto View Post
        Home equity line of credit or a title loan on you car (assuming you own it and it's worth enough). I'd bet you could get a short term loan form the bank if you have good credit- you'll like need to be making payments for 6 months whatever you do.
        Definitely bad advise. Put you into bankruptcy pretty quick.
        Georgette

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        • #5
          Originally posted by Diana Renata View Post
          No, no, no. NO. Bad idea.

          Currently doing both full time work and full time school. It SUCKS!

          Best bet, seek out Dave Ramsey's books on finances and follow it to the letter. You will not find bad financial advice there.

          As for the current moment... if you can't pay for it now without working extra, maybe it's better to put it off for 6 months while you save up. Just work like a crazy person until you have 6 grand to throw down on school.
          Agree. Ramsey is the best.
          Wisdom begins in the recognition of how little we know.

          (teaching of Socrates)

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          • #6
            Originally posted by Diana Renata View Post
            Best bet, seek out Dave Ramsey's books on finances and follow it to the letter. You will not find bad financial advice there.
            Peter Schiff makes Dave Ramsey look like a total monetary fool.


            @OP: According to Schiff, you should not pay for any education at all because the costs of education are in a bubble induced by government guaranteed student loans. According to Schiff you are better off just learning what skills you need on the job.

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            • #7
              i agree with schiff. unless you can see a discernable increase in income coming from your education, just learn as you go.

              ironically, i train yoga teachers -- and make income from it -- and still encourage them to know ahead of time how long it's going to take to 'pay themselves back' (even if they can pay for it up front), and what increase in lifestyle or income it will bring them taking the educational training that they want.

              so, either ask the employer to pay up front for you (some will do it), or save up and do it next semester, or just don't do it.

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              • #8
                Originally posted by Grok View Post
                Peter Schiff makes Dave Ramsey look like a total monetary fool.


                @OP: According to Schiff, you should not pay for any education at all because the costs of education are in a bubble induced by government guaranteed student loans. According to Schiff you are better off just learning what skills you need on the job.
                I do like the way you think, Grok. Peter Schiff is my stock broker, and has done very well for me. Not sure how he feels about the PB, but I'll forgive any transgressions on that front. lol

                P.S. For a prescient look at college costs, read "The Fall of the Ivory Tower," by George Roche, who was then president of Hillsdale College. It was written in the early to mid 1990s, and described the bubble that your post refers to.
                Live your life and love your life. It's the only one you get.

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                • #9
                  Originally posted by Mike in Virginia View Post
                  I do like the way you think, Grok. Peter Schiff is my stock broker, and has done very well for me. Not sure how he feels about the PB, but I'll forgive any transgressions on that front. lol
                  I'm pretty sure he doesn't know about PB yet because he mentioned once on his radio show about not being able to fit into his college jeans.

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                  • #10
                    Originally posted by Grok View Post
                    I'm pretty sure he doesn't know about PB yet because he mentioned once on his radio show about not being able to fit into his college jeans.
                    lmfao
                    Live your life and love your life. It's the only one you get.

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                    • #11
                      to the OP: if you can find any way to avoid student loans, you should. The central government has taken over the entire student loan program, which means that if you take out a loan they can control you. With job prospects as limited as they are now, many graduates find it difficult to gain employment. So maybe declare bankruptcy? The central government has thought of that too. Student loans are not forgiven in bankruptcy. They are with you for the rest of your life.
                      Live your life and love your life. It's the only one you get.

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                      • #12
                        Yep, I am currently repaying a student loan it sucks(company will not pay off existing loans). As far as learning the skills on the job that is the best thing you can do(basically teaching yourself rather than mimicking a teacher), but theory and practice are both important in my field; however when my company says they will pay for school and the fact I want to learn in my free time I may as well do it. If I learned on my own and then just told a company I tought myself this and that, they may not pull the trigger; however when they see the degrees on this piece of paper called the resume(which is bullshit) then they are all happy. Really though paleo gave me all this energy, I can think and think for hours on end. The last thing holding me back was the booze, when I did the whole 30 about 2 weeks in my thinking was clearer than it has every been.

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                        • #13
                          Originally posted by Diana Renata View Post

                          Currently doing both full time work and full time school. It SUCKS!
                          Forgot to say, that is awesome!

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                          • #14
                            Student loan like everyone else....simple, not a bad interest rate and you will not be leveraging your home for education. The reinstatement will pay off the loan when you are done.

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                            • #15
                              If your company directly reimburses you for your school, that is counted as income and you will be taxed on it. Take that into account.
                              I work for IBM and they pay the school directly, which doesn't show up as income. Get your employer to do that.
                              People too weak to follow their own dreams will always try to discourage others.

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