[quote=SK in CV][quote=bearishgurl]
I suppose there are people who DO pay them off in a timely manner but I don’t know any. Everyone I ever knew who has them have taken one or more deferrals and is paying only the minimum monthly payments on them.
[/quote]
Obviously, you don’t know everyone, only the deadbeats. The Cal State system universities mostly have default rates between 5 and 10%, with only one as high as 10%, and a couple, like SDSU, below 5%. The UC’s are better. Only one has a default rate of 5%, the rest are lower.[/quote]
Yeah. I was going to say… Wow have things really gotten THAT bad on the student loan front if you don’t know anyone that isn’t defaulting on their student loans? To be honest, I’m certainly NO expert on student loan default rates but I figure it can’t be as bad as portrayed but I do think it could be a ticking time bomb for many people. But again, since it’s dischargeable I think the vast #’s out there are going to keep paying them on time. Many foregoing buying houses or other things as they are forced to pay on them.
Granted, I’m not hanging out with too many 20 something year olds these days but I do have hundreds of clients and friends and many of them did not pay for their kids college tuition and it was financed through student loans. Also, MANY of my friends have younger sisters or brothers that have gotten student loans. And I haven’t heard of a single one that has defaulted or late. All my friends do complain their sisters/brothers are burdened by them and complain but they are still paying on time. After all, what else can they do???
But to be honest, if they were I guess they probably wouldn’t be telling me but their parents seem to say they are paying them on time. I’m sure some probably got deferrals but as SK in CV mentioned… I don’t think the statistics point to THAT many people that have defaulted or late on their payments.
I don’t know if there are statistics out there on what % of them are deferring payments but I’d be really curious if anyone has that kind of information.
Flyer, I TOTALLY agree with you about the job market here. We talk about it all the time and I’m still amazed when people try to argue with me that San Diego is NOT the best place to climb the corporate ladder with the sunshine tax and lack of breadth in industries compared to other major cities.
I post on some other forums where people try arguing that San Diego is a fine job market. I always point out that besides certain industries like certain engineers, some biotech and a few handful of other professions….this isn’t anything to write home about.
In fact, I’ve never lived in a major city where I met so many people or friends of friends that either still live with their parents in their late 20’s or even 30’s or have roommates. I see it all the time in various settings. The girl that cuts my hair is in her mid 30’s and was living at home up until this year. And now she is on her own but renting a room in a 2 bedroom apartment with a complete stranger….
Living in San Diego is great but NOT at all costs….
