I have a theory that If I stop paying my student loans and invest that $400 per month in cryptocurrency (whether its steem, bitcoin, litecoin, etc.) then I will have well over the amount of interest I will accrue in the, let's say 4 years that I stop paying my loans., to actually pay off my loans.
Listen, cryptocurrency is in it's infancy stage, we can all agree on that. Student Loans in the eyes of creditors is seen as good debt. Paying the minimum amount for the rest of your life won't significantly impact your credit score. But failing to pay it off completely will I understand that. At this point in time I don't have a bunch of debt outside of my student loans. I pay $400 per month in student loans and owe about $30k. I know a lot right! (I am also thinking about going back to school to get my MBA.
I did some math! (I'm an engineer, I love math!) I took into account the money I recently invest in cryptocurrency and the forecast that my investments will potentially grow in the next 4 to 5 years. My student loans will accrue interest if I don't pay. It already accrues interest when I do pay. So I have come up with the theory of not paying my student loans and investing that $400 in cryptocurrency.
It is definitely too late for the bitcoin train to see substantial returns at a lower investment cost, but there are other cryptocurrencies out there that can make a brother some nice coin. Pun intended! Enough coin to pay off my student loans and laugh at Sallie Mae!
Who is with me!? Who is bold enough to take this risk?
Who is smart enough to invest in the right currency?! Let's talk
I mean, I'm always up for a risk! What coins are you holding? If you don't mind me asking.
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What's up my fellow risk taker! I am holding Bitcoin, Litecoin, and ethereum. I am thinking of investing in Iota, Ripple, and of course Steem. What about you?
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Apparently 1.1 million people are weighing out their options
https://www.cnbc.com/amp/2017/03/14/more-than-11-million-borrowers-defaulted-on-their-federal-student-loans-last-year.html
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Thanks for the article. I didn't know they would actually garnish my wages and take my tax return away. Might have to continue making minimum payments and apply for a repayment adjustment plan to lower my rate and wait out the crypto payout in 5 years.
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Im with you! Don't have student loans but CHRISTMAS IS CANCELED FOR BITCOIN! I WANT CHRISTMAS EVERY DAMN DAY!
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LOL The kids aren't getting presents until you get your investment back.
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Investing in your self first is good investment advice.
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I agree. If I go back to school I'd want to have enough cash to pay for it out of pocket or receive a scholly!
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Check my blog, never pay the student loans. We can stop them if we all just stop paying. I am not a 'tranch.'
That said, I think bc may be hype, it's never good to invest after a manic spike. No one trusts any of the older currencies anymore, so it's good to diversify. The restrictions on what you can buy otc in the united states are so absurd everyone is justified for using dark markets and crytpo currency.
Cryptocurrency is the next innovation after the internet, the one prior was the transistor, the one prior was the printing press, the one prior was the wheel. So this is a pretty fast advance, it's going to take getting used to, esp all the strong passwords and new software.
why am i still typing idk
but dont pay your student loans, they are evil. i know people who pay them off slow to invest the money they would ot herwise pay, it's like keeping a pet shark when people are being eaten by them on your front lawn. dont participate in systems that are killing people, and student loans kill. the no bankrupcy rule is absurd.
ok thats all really this time.
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Besides the fact that they could garnish my wages, I would have stopped paying a long time ago. Now that there are crypto's out there I can make it my goal to pay off my loans in 5 years from pure coin investing and minimum payments on my gawd awful loans.
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