Practice squad pay raises for three players

[supafly]

I am afraid it is worse than that. To fully pay off a $250k loan at 6% would take almost $1,800/month. The payment plans are usually graduated, so it's 800-900/month in the beginning (pretty much interest only) then payments will rise.

The whole higher education sector has become a massive scam. It is like generational warfare.

It's absolutely insane. My wife had about the same but she had a ton of family help and actually paid the entire debt off in only 3-4 years, which was painful to watch but was actually smart due to saving so much interest.

For me, I just have to accept that my credit will be mediocre at best, and that will almost surely be for the rest of my life, or very close to it. Of course, I could end up like that guy from the Fan Duel commercials who "invested" only 38 bucks, but is now a millionaire.

 

[supafly]

I am afraid it is worse than that. To fully pay off a $250k loan at 6% would take almost $1,800/month.

See, when I view massive monthly figures like that the first thing that comes to mind is that I need to increase my earning potential, as apparently a Master's degree is not good enough. I'm afraid that I'm unlikely to make enough to where it will prove to be beneficial.

Then the whole cycle starts over again, and I end up with an additional 75k in debt, another 2-3 years of high-level stress, and ultimately realize that I'm screwed no matter what.

 

[DarrylS]

This is taking care of the back end of roster for guys learning how to do their job...

When I went to a Rhode Island College(1965-69) I think my yearly tuition was less than $1600 per year + add ons, I had difficulty finding the money to pay that.. loans were not an option.

When I went to BU Grad School(1980-1982) the yearly tuition was something like 10K a year.. walked away with about 10K debt.. which I paid off early.

I find discussion of 250K debt from school really demoralizing and wondering why we accept this financial burden??

 

[everlong]

Whenever articles arise or Felger starts in about how cheap the Patriots are I just laugh because they never consider the little things the Patriots do such as this. I often reference it but some of the statistical geeks should come out with the NFL version of WARP (Wins Above Replacement Player) that baseball has. You know Bill has them. So when he's not willing to pay Brandon Browner 6M, or whatever he was due this year, it's because that dollar amount isn't equal to his value above replacement. When calculating a Darius Flemming lets say he's view he's worth 80% of the average NFL starter but knows the system it's worth that extra few grand per week to make sure he doesn't take off and then you have to get a guy off the scrap heap who's 70% and doesn't know the system. If you have a rash of injuries like we've seen on the OL that could be the difference between winning a playoff game and going home.

 

[TheBostonStraggler]

Don't even get me started. I'm quickly realizing that one should consider trade school if they aren't going to get any help through grants, scholarships, or family.

My student loan debt will be somewhere around 250,000+ (with interest) if/when I actually live long enough to pay it off. I think my payments are somewhere around 800-900 a month for the next 20 years.

250,000 is a lot Sup, no doubt....but if it moves you into higher earning brackets it was worth it. 20 years of just 20,000 extra earning power per year is a net gain (just don't tell me you are getting a liberal arts degree . You are law right?).

Have you considered a job with the federal government where, I believe, they have loan forgiveness programs (something like -- you stay employed with department X for 10 years and always made the minimum loan payment on time during that 10 years).

 

[supafly]

250,000 is a lot Sup, no doubt....but if it moves you into higher earning brackets it was worth it. 20 years of just 20,000 extra earning power per year is a net gain (just don't tell me you are getting a liberal arts degree . You are law right?).

Have you considered a job with the federal government where, I believe, they have loan forgiveness programs (something like -- you stay employed with department X for 10 years and always made the minimum loan payment on time during that 10 years).

Well, the 250k number is what's projected over the 20 year mark including interest, but yeah--still quite a lot.

Mainly CrimJ related degrees (3) if you include the Master's, one with a minor in Psych, and another smaller 2 year associate's in computer forensics. Was hoping to combine everything together, but no luck so far. Health issues all year, and a charge for small amount of marijuana from 1993 when I just turned 18 are likely throwing a wrench into my plans.

Oh, and it really pisses me off when I go through some of the hour long processes where I have to sign waivers to access my credit. That's just not right. No govt jobs in my future, but it would've been a nice gig.

 

[supafly]

Good to see these players rewarded though.

Nice little salary increase for their hard work.