Learning the Basics of Repaying Your Student Loans

You know how some kids like to play that dumb game where you have to choose between two totally gross things and then ask which one you would prefer have if you could only have one? They would like this one: if you had to choose between the IRS being angry at you for not paying your taxes and someone coming down hard on you for not paying your student loan, which would you rather be in? Incredibly, the anger of the IRS is preferable to the consequences of not paying back your student loans.

To begin, tax obligations to the IRS are limited to income earned. In contrast, if you want to take out a $100,000 loan while you are still in school and want to make it big after graduation, you may do so with student loans. You can also find that the job market is terrible in the field you have chosen to enter. After spending hundreds of thousands of dollars on a law degree, many grads are finding that law firms no longer offer salaries over $200,000. An annual salary of $50,000 would be more appropriate.

Debt from student loans has surpassed that from credit cards as the largest source of financial stress for Americans. Unlike credit card debt, which can be discharged in bankruptcy, student loan debt cannot be discharged. He is helpless in the face of the overwhelming weight of his outstanding school loans. They will remain his forever. If necessary, they will deduct it from his Social Security check.

Students who borrow $1,000 or more often justify the expense by telling themselves they are making a sound investment in their future. Sadly, they are oblivious to the damage they are causing to the future. The average borrower on a 30-year student debt has signed up for that loan. They will still be making payments on their student debts when their kids are old enough to enrol in college. What effect do you think that having to make payments on one’s own student loans would have on a parent who is thinking about getting one for his child? He is much less likely to borrow a large sum of money. There is little doubt that the amount you borrow today for your kid’s education will have long-term consequences.

Before committing to a student loan, college-bound young adults should carefully consider their post-graduation salary expectations. Never take out more student loans than they can reasonably pay back with the salary they expect to earn in the first year. It is unfortunate that some young people will shell out a lot of money to study things like sociology or Middle English literature. Just how likely is it that someone with these abilities could make a living wage?

The Ohio Lottery offers a wide variety of games, including daily Pick 3 and Pick 4 drawings, twice-weekly Mega Millions drawings, and a plethora of quick win games. It also features the TV show “Cash Explosion” and a charitable bingo event.

Cashing tickets have 180 days from the drawing date and immediate game tickets have 180 days from the game’s end to make a claim. If the total amount due is less than $600, the process for making a payment is straightforward. Winners need just request payment from the store. Player must visit retailer to obtain PAY TO BEARER ticket for rewards over $600 but less than $5,000. You can accomplish this in two ways. The participant can either pick up a claim form at the store where they purchased tickets, or they can access one online at the lottery’s main website. Winners’ identities must be verified, thus it is crucial for participants to have accurate contact info, a current address, and a photo ID ready. Payment is due 30 days after the claim form is mailed in. If you win more than $5,000, you must claim it in person at the lottery office.

Some Fascinating Lottery Facts…

The largest prize ever won in the Ohio Lottery was $267 million. The February 28, 2006, Mega Millions jackpot winning ticket was purchased at the Lyons Main Stop on West Morenci Street.
The Ohio Lottery ranks ninth in terms of revenue among state lotteries.
Nearly 8,500 licenced stores can be found throughout Ohio selling Ohio Lottery products.
At 12:25 p.m., all Pick 3 and Pick 4 pools will be closed. Each week, the Ohio Lottery selects a Retailer of the Week from among its partners. Evening Pick 3 and Pick 4 pools close at 7:25 p.m. Monday through Friday and 7:30 p.m. on Saturday.
People with gambling issues can reach out for assistance by dialling the Ohio Lottery Help Line.

2022-10-19 18:30:00