[I'm, Ron Burgundy?]

Okay, so I’m in the same boat as about 75% of recent college graduates: I had to acquire a tremendous amount of student loan debt in order to get my education and am now falling behind on payments. I have most of my loans in a forbearance with the exception of one private loan that is not eligible. In recent months I have hit some financial difficulties due to my landlord being foreclosed on and having to move at last minute and a death in the family across country that I had to attend the funeral. In the end, I am behind on my payments and Sallie Mae is an unforgiving, loan sharking b!$*h who doesn’t want to hear any excuses.

Considering these are Federal Loans can this hinder my licensing ability if I fall too far behind? It would be a shame that I acquired all this debt, studied so hard, only to be denied a license in the end. Ironically, the purpose of getting into the debt in the first place was to achieve this goal. Does anyone have any information or past experience with this?

"If you're going through hell, keep going"
- Winston Churchill

"I've missed over 9,000 shots in my career. I've lost over 300 games. 26 times I've been trusted to take the game winning shot, and missed. I've failed, over and over and over again in my life. And that is why, I succeed."
- Michael Jordan

BEC: (54), (72), 80 (losing credit on 02/02/15 - nervous)
AUD: 78
REG: (74), 91
FAR: (71)

[Tncincy]

I can say from knowledge that the state of tn can suspend your professional license if you have defaulted student loans, child support, for military debt. There is a link on the state of tn board of accountancy site to go to if your license is such. There is also an article where in the state of new York is suspending professional licenses of those with severely defaulted loans, like 10,15,20 years and these individuals have never paid a dime but has been in their profession for over 10 to twenty years. I can't remember where the link is, but to answer the question check your state board of accountancy and you might be surprised of licenses that has been suspended for defaulted student loans.

Point is it does exist. and beware of not paying student loans.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[mena je twa]

But what do you do with the 12 million unemployed and who have stopped looking for jobs. They are not going to pay back the loans. And if they start even the interest on it will kill them.

There will come a time when interest will overtake the principal amount on all of these loans and even though you make payments on it, you will never be able to completely wipe the debt away, period.

Something will have to be done to address this madness. If you are lucky enough to be in the right time, when some crazy amnesty law passes by the govt, you will benefit.

The US owes 17 trillion indebt, mostly to china, so what if they put another 1 trillion to debt and print more from treasury.

Entry:

Debit – Treasury –

Licensed CPA, Texas - 2012

[mena je twa]

But what do you do with the 12 million unemployed and who have stopped looking for jobs. They are not going to pay back the loans. And if they start even the interest on it will kill them.

There will come a time when interest will overtake the principal amount on all of these loans and even though you make payments on it, you will never be able to completely wipe the debt away, period.

Something will have to be done to address this madness. If you are lucky enough to be in the right time, when some crazy amnesty law passes by the govt, you will benefit.

The US owes 17 trillion indebt, mostly to china, so what if they put another 1 trillion to debt and print more from treasury.

Entry:

Debit – Treasury –

Licensed CPA, Texas - 2012

[mena je twa]

or debit bad debt expense

and credit _ Payable to china or Tax payers pick up the diem:)_

Licensed CPA, Texas - 2012

[mena je twa]

or debit bad debt expense

and credit _ Payable to china or Tax payers pick up the diem:)_

Licensed CPA, Texas - 2012

[KelzMS]

A lot of people get student loans to go to school. You didn't sound like you were whining to me. You just had a question. Ive been in forbearance twice. It can be hard to get a job. Just once you get on your feet make sure you pay as much as you can towards them. Good luck. Hope it doesn't mess with your license.

B-Passed
A-Passed
R-Passed
F-Passed

[KelzMS]

A lot of people get student loans to go to school. You didn't sound like you were whining to me. You just had a question. Ive been in forbearance twice. It can be hard to get a job. Just once you get on your feet make sure you pay as much as you can towards them. Good luck. Hope it doesn't mess with your license.

B-Passed
A-Passed
R-Passed
F-Passed

[acamp]

Ok, maybe too directed at you, sorry, but my point is the culture of, its OK to pile on tremendous debt in the name of education. I think the “had to acquire” and the negativity towards the lender is what turned on my criticism, nobody has to acquire tremendous debt to go to school IMO. (sorry if I came off unprofessional while you were bashing your creditors)

I had a family, worked, went to a cheap state school, came out with very little debt and managed to get a pretty OK job by doing a lot of networking and pavement pounding.

In any event, open communication with these people is probably the best thing you can do, they sometimes have some wiggle room in terms of you defaulting on the loan vs. them being able to defer it further. So many people just leave their creditors high and dry, leaving the lender with no option other than to default.

2nd: https://www.amazon.com/The-Total-Money-Makeover-Financial/dp/159555078X

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

Becker Videos: [AUD - 82]

California CPA

[acamp]

Ok, maybe too directed at you, sorry, but my point is the culture of, its OK to pile on tremendous debt in the name of education. I think the “had to acquire” and the negativity towards the lender is what turned on my criticism, nobody has to acquire tremendous debt to go to school IMO. (sorry if I came off unprofessional while you were bashing your creditors)

I had a family, worked, went to a cheap state school, came out with very little debt and managed to get a pretty OK job by doing a lot of networking and pavement pounding.

In any event, open communication with these people is probably the best thing you can do, they sometimes have some wiggle room in terms of you defaulting on the loan vs. them being able to defer it further. So many people just leave their creditors high and dry, leaving the lender with no option other than to default.

2nd: https://www.amazon.com/The-Total-Money-Makeover-Financial/dp/159555078X

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

Becker Videos: [AUD - 82]

California CPA

[Author]

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