Thread regarding Education Management Corporation layoffs

If your EDMC loans were forgiven 100%, what would be the first thing that you would do? Would you make a purchase? A smart investment? Etc.

I know this is not a student loan site, but since EDMC affects many more than just the employees who may face job cuts, layoffs, and other challenges, I would like to know if anyone would like to share what they would do if loan forgiveness occurred. Does anyone think that if EDMC went bankrupt we could get our loans forgiven? Partially? Completely?

I for one would do my best never to take another loan for the rest of my life. I have learned the heartache too badly. I would go the "Dave Ramsey" route - paying everything in cash and "living like no one else so that I can live like no one else" some day.

I am just curious and I am sure others are as well.

by Anonymous
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Post ID: @OP+FiSsD6N
Comment! It's anonymous!

9 replies (most recent on top)

Forgiven loans eventually boost credit due to having less financial liability, therefore allowing a person to mortgage a home. Perhaps you were hired by EDMC due to your lack of common sense.

by Anonymous
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Post ID: @1kuh+FiSsD6N

Circus peanuts all the way, preferably rectally infused.

by Anonymous
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Post ID: @1tel+FiSsD6N

NEVER get a loan again? What about buying a house? Paying cash???

by Anonymous
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Post ID: @1zpa+FiSsD6N

I know with an EDMC mentality, education and the lottery is a good retirement vehicle understanding of business this is going to be tough. If your loans are forgiven you don't have to pay them. Think real hard about that, that's it bend over and grunt--damn that's your brain coming out of your asshole.

I think that you were recruited by EDMC because you believe that somebody is going to pay you money for getting a loan forgiven, right? You're a f---ing idiot.

by Hahahahaha
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Post ID: @1jmw+FiSsD6N

I would purchase a home because a mortgage would be cheaper than rent and my credit would no longer be a joke.

by Anonymous
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Post ID: @fbj+FiSsD6N

I'm with the circus peanuts guy, only I would probably instead put a Mr. Yuck sticker on my left ass cheek and proceed to not only WHIP but also NAE NAE while you watch it.

by Anonymous
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Post ID: @fnz+FiSsD6N

Circus peanuts you say? Salted or unsalted? Any preference on a particular circus?

by Anonymous
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Post ID: @dmw+FiSsD6N

You sound so nice. I think it is a good question to ask, maybe not the correct forum, but I think that is debatable since this forum is less about direct layoffs usually and generally more about the drama surrounding EDMC.

I am with you in stating I would do my best to never take out another loan. I was 18 when I took out mine and had no idea that the potential truly existed that I could potentially pay them for 50+ years if I only made minimal payments. Compound interest is an eye-opener... truthfully, in my opinion, in is predatory and should be illegal. There is nothing wrong with charging a small amount of usury, i.e. interest for loaning out money. A flat rate of 1% of $100,000 still means a guarantee of making $1000 since the loans are insured. However, compound interest means that truthfully you could pay $500,000+ over the course of the lifetime of the loan if you do not make sufficient payments. It is a scam.

I would do my best to save save save and save some more for my children so they would hopefully never have to deal with the thieves and scoundrels that are the student loan market.

Good question. Anyone else have any ideas?

by Smiles McGee
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Post ID: @ngd+FiSsD6N

I would put some circus peanuts up my butt, that is 100% for sure. Wouldn't even think twice.

by Anonymous
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Post ID: @ibs+FiSsD6N

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