Why I Defaulted on My Student Loans

My cc's have 30 days free of interest or charges if fully paid off before the due date which is 26th of month.
 
fxh said:
Monkey that's amazing story. I must talk to my brother who lives in Scotland.
Here anyone can open any type of account.

Have you tried the Australian banks who are now in UK?
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Yeah, someone recommended them the other day. I'll have to look into that, but I'd prefer a bank that's UK or at least European based. Europe has had plenty of bad experiences with foreign banks defaulting during the crisis. Don't really want to risk losing my deposit. A current/savings account is not a risk free instrument.

If I were to get a CC I'd set up a direct debit from my current account for the outstanding balance, so I'll never have to pay any interest. Those cash back cards are nice though, too bad I can't get them.
 
It is risk free here government guaranteed.
Only 4 big huge Australian banks. Pricks all but solid. But it seems lesser pricks than UK or USA.
 
I know an Oz bank bloke who is a clothing forum idiot and has just done a few weeks in UK for his Oz bank bringing the brits into line. Teaching the poms words like customer service. If you get stuck I'll talk to him.
 
fxh said:
I know an Oz bank bloke who is a clothing forum idiot and has just done a few weeks in UK for his Oz bank bringing the brits into line. Teaching the poms words like customer service. If you get stuck I'll talk to him.
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Haha, customer service is non existant. My card has been blocked 4 times now, for no reason. Every single time it takes them a couple of days to unblock it, and they act like dicks on the hour long phone calls it takes for it to get unblocked. I've had them make notes in my account to never block my card unless I specifcally ask them to, but they keep doing it. It's gotten so bad that I usually give them a phone call now before I spend over 300, so they won't block it. It's insane.

Never had any problems with my European accounts, and I was a broke student back then. Mo money mo problems I guess.
 
John Lee Pettimore III said:
Two sad things in that one sentence. One, it sucks that, with a 3.84 GPA and an obvious good amount of intelligence, you still aren't sure that you're worthy of a scholarship because you might have gotten it as a minority. Which is a really unfortunate side effect of affirmative action.

Two - it's absurd mind that Hispanics are automatically considered a minority. A castizo whose family has for generations reaped the benefits of his ethnicity in a place like Mexico or Cuba can come to America and automatically qualify for benefits designed to remedy the exact "evils" the castizo benefited from in his own country. Even a guy like me, fair skinned, blue eyed, can technically claim I'm a Hispanic because my grandfather was from Chile and my Swedish grandmother lived there for some time as well.
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I don't consider myself as a smart person, just capable of learning quick and easy. I have never studied for a test I just read and that's about it. I rely far too much in my long term memory. I come from a family of presidents and people who liberated Colombia and other countries from Conquistadores, we are mostly from French, German, and Spanish stock.
 
John Lee Pettimore III said:
Harvard just racked up another nine figure donation, so that they can better teach students the evils of wealth inequality for $45,000/year.
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I believe the majority of undergrads at Harvard pay little to nothing. That place gives more free rides than the nice candy man in the big white van.
 
Leitmotif said:
I don't consider myself as a smart person, just capable of learning quick and easy. I have never studied for a test I just read and that's about it. I rely far too much in my long term memory. I come from a family of presidents and people who liberated Colombia and other countries from Conquistadores, we are mostly from French, German, and Spanish stock.
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That's cool that you know your history. In Dutch my last name means grapes and so one side of the family I believe originates from French Vineyards and the other side were banksters apparently.
 
Leitmotif said:
I got a scholarship because I'm a spic. Actually, I don't even know if it was because of that, but probably. Got a 10K Scholarship when I applied to Electrical Engineering to UCF. My GPA was 3.84. Interesting enough I got accepted into all universities except University of Florida because I had a C on Biology when my major was Electrical Engineering. I have heard of people who got accepted in UF with a GPA of 2.3, makes no freaking sense.
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Scholarships are given out like candy. I got a full ride just from SAT scores.
 
Monkeyface said:
Haha, cu
stomer service is non existant. My card has been blocked 4 times now, for no reason. Every single time it takes them a couple of days to unblock it, and they act like dicks on the hour long phone calls it takes for it to get unblocked. I've had them make notes in my account to never block my card unless I specifcally ask them to, but they keep doing it. It's gotten so bad that I usually give them a phone call now before I spend over 300, so they won't block it. It's insane.

Never had any problems with my European accounts, and I was a broke student back then. Mo money mo problems I guess.
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Shit.thats even worse than I imagined. Here I'm not with the big 4 but a smaller very solid bank. They have also a network of community banks/franchises which are locally managed and return a percentage of profits to local community groups. I helped start our local branch now we have 5 branches in our local group. We distributed over $1m to local groups over last 2 years. If I want I can ring speak to manager anytime. They ring me if there is any problem. When I go overseas I can email them about any problems. They email me about any suspicious cc usage of overseas.

They are just about two blocks blocks away from home. Open Saturday Morning. Atm in front and plenty around Oz.
https://www.bendigobank.com.au/public/
Bendigo and Adelaide Bank - Wikipedia, the free encyclopedia
 
fxh said:
Shit.thats even worse than I imagined. Here I'm not with the big 4 but a smaller very solid bank. They have also a network of community banks/franchises which are locally managed and return a percentage of profits to local community groups. I helped start our local branch now we have 5 branches in our local group. We distributed over $1m to local groups over last 2 years. If I want I can ring speak to manager anytime. They ring me if there is any problem. When I go overseas I can email them about any problems. They email me about any suspicious cc usage of overseas.

They are just about two blocks blocks away from home. Open Saturday Morning. Atm in front and plenty around Oz.
https://www.bendigobank.com.au/public/
Bendigo and Adelaide Bank - Wikipedia, the free encyclopedia
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A decent sized regional is always the best for customers. I use a mid Atlantic based bank for a lot of things and they are wonderful. I also have a big bank for a couple things, mainly for travel. Very faceless and nameless sort of place.

I had my mortgage and things like that with the local because the service was so much better.
 
I just use pretty standard atms with my usual cc and debit card when overseas. The charge is about $5 and the exchange rate is good not gouging. The fee is worth it for the convenience and we usually pull out say $400 or so at a time. Otherwise we use the cc. Straightforward it's visa.

Everything is online anyway so I can check from anywhere and transfer between accounts etc free anytime and check transaction tions and even download a spreadsheet with more detail.. All bills paid online now for last 5 years. No cheque book needed since about 5 years ago. Australia is almost the compete opposite of Japan - there's almost nowhere here you can't pay with a cc. Coffee, bars, groceries, takeaways, parking meters, in fact many people carry no cash just cc.

Credit cards have been chip no signature in Oz now for some years also just wave/touch and go no pin needed usually under $100.
 
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doghouse said:
A decent sized regional is always the best for customers. I use a mid Atlantic based bank for a lot of things and they are wonderful. I also have a big bank for a couple things, mainly for travel. Very faceless and nameless sort of place.

I had my mortgage and things like that with the local because the service was so much better.
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I recommend credit unions, or USAA.
 
If you can get in they are the best bank around.

I think we have a personal finance thread for this discussion.
 
John Lee Pettimore III said:
Two sad things in that one sentence. One, it sucks that, with a 3.84 GPA and an obvious good amount of intelligence, you still aren't sure that you're worthy of a scholarship because you might have gotten it as a minority. Which is a really unfortunate side effect of affirmative action.

Two - it's absurd mind that Hispanics are automatically considered a minority. A castizo whose family has for generations reaped the benefits of his ethnicity in a place like Mexico or Cuba can come to America and automatically qualify for benefits designed to remedy the exact "evils" the castizo benefited from in his own country. Even a guy like me, fair skinned, blue eyed, can technically claim I'm a Hispanic because my grandfather was from Chile and my Swedish grandmother lived there for some time as well.
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This is my hope for my children when it comes time to play the Big Education game - fair, light haired, light eyed, but with 1/4 Mexican and Native American blood running through their veins. Maybe I'll have them make all their applications with their mother's apellido instead of mine.
 
I worked and put myself through uni. I saved money every summer during high school when people were taking summer holidays. I abused my parents' network of friends to get into tiny accounting firms, importer/exporters - try to do something other than man a till at retail.

I worked every summer in uni and often signed up in May before I finished my exams and left the week after Labour Day to "transition" and get an extra week's pay. Freshman week was unknown to me. I used the no interest student loan for investing and made a profit when I repaid everything. I pretended to be a Rotarian and got a cash award there too. (I'd be Lions Club too if they'd pay me)

My parents applied and got into every scholarship and bursary they could find. They worked too - doing all sorts of things I couldn't or wouldn't even be able to do today.

Then comes my cousin who in her 20s refused to apply for a bursary because it was too complicated to fill in the form. She would much rather keep using her father's credit card.
 
It's a lot harder to work your way through college. I worked part time (20-30hrs/week) through college and picked up a second job during summers. Didn't come close to making a dent it what I was paying, though I guess it just about would cover living expenses.

It really comes down to choice and being smart about where you go to school. Is the collegiate system a racket? Only if you make stupid choices about where you go to school (was 35k a year worth it for a 5 to 1 student teacher ratio? Well, I had decent scholarships and my parents helped out a bit, so I wasn't paying that much...but I had a full ride at several state schools and I don't know if the difference in quality was really worth it. But I do very much value a liberal arts undergraduate experience.)

But this stuff annoys me:

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Between scholarships and financial aid, two years at a community college, and state schools, a college education is very far from criminally expensive.
 
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