Another Covid thread

Would you use the opportunity and pay down existing student debt?

  • Yes

    Votes: 7 70.0%
  • No

    Votes: 3 30.0%

  • Total voters
    10
Lots of financial bumps being provided by our government during these shitty times. One idea that is being floated is tuition reimbursement and/or higher ed financial assistance for first responders. Some reports are putting this figure into the 25k range.

When I was a young man I fucked around, a lot. I ended up drifting around a bit but always stayed in my field of study. I get bored easily and love to try new things, so what I ended up with is a diverse group of skill sets/knowledge and a diploma or two. Along with gaining the college paperwork comes bills. I'm a workhorse and pay my bills without issue, but the college tuition bill was refinanced into such a small payment with auto withdrawal I basically forgot about it. I still have a small chunk owed to a lender and it would be more than amazing to put an extra 300$ a month into savings or party funds or a golden stripper pole with an option to electrify the pole as opposed to a bill.

Now, exact details on the tuition reimbursement have yet to be released and who knows, it might never even happen. I don't know where I would fall into that category of "how much assistance is allowed" but I am an essential worker by law. The state even has paperwork for me to display in my vehicle in case I'm being pulled over, my parking being questioned, etc. I know I make to much so I didn't get any stimulus payment so I may fall into another black hole like that with this but who knows.

Now, my question....

Would you take the assistance in my case? I make plenty of money, have no issue with bills but I'm also looking at trillions and trillions of dollars being spent and more than a few of those dollars are being used illegitimately. I'm not so sure that paying off my tuition would be a bad move because that freed up cash every month would most certainly be used to help juice the economy again. Gaining an extra few grand a year always helps.

Would you take the assistance?
IMO you should only attempt to repay student debt in the current economy only if you have a really stable, recession proof job.

That meant cop, fireman, first responder, etc.
Pretty much anything private sector is in shaky ground NOW. Pinch every penny. You may need it later for food if you get unemployed.
This is far from over and will get much worse.
 
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