ChatGPT:
“Regulatory Scrutiny:
*Student loans, especially federal loans, are subject to regulatory oversight. Misuse of funds can lead to audits or investigations, which could uncover the inappropriate use of the money.*”
…
I’m happy for OP but he probably should not be advertising this to the masses out of pride.
With seeing other people get their student loans forgiven, why should someone pay? Feels like sooner or later they're all going to get forgiven at this rate, so why keep paying it? Very little incentive to pay it back right now.
I mean a lot of people have given up on ever getting out of the debt and just pay the minimum they can because they already paid back the principal a couple times. What's the point of you know you'll never catch up
It’s me! I’m that use case! Took out 60k for undergrad and grad school - currently owe 99k. 10 years in paying more than my mortgage payment every month. My fault for getting sick for almost a year, forcing me into forbearance to be able to afford my meds and rent while I was out of work. Interest has ballooned so much that if I don’t come up with 10k lump sum to wipe the current interest balance, I will never touch principal. Living the American dream!
I see no moral obligation to pay *at all\**. The entire system's a fucking scam.
The colleges have spent decades jacking up prices so everybody starts their adult life with a preposterously huge pile of debt. The economy has been rigged so only the top 10% or so are actually doing okay and everyone else is living paycheck to paycheck, so you get stuck making minimum payments for decades.
Meanwhile, the people responsible for all this got their college education paid for by working a summer job. And those same people are the ones expecting you to cut them a check.
For what, exactly? Oh, my education is just *soooo* much better now that it costs 100x more? And everyone was just so much better at their jobs 50 years ago which is why they got paid living wages and we don't? Great job, guys! I'll definitely pay you real money to reward you for these things you've done.
The parasites who fucked the country over six ways from sunday aren't getting as big a payday as they expected.? Boo fucking hoo. The absolute horror of billionaires not siphoning even more money out of the lower and middle classes, how can I possibly sleep at night knowing that they'll only be able to afford one megayacht and not two.
\*Yes, I really am suggesting you just stop paying. There are ways to do it legally, they are ways to do it not legally. Look into it, and do it. Just be sure you don't default on private loans because those shitfucks will just sue you.
God this narrative is so annoying, there is no blanket or even close to general loan forgiveness. The [stipulations for loan forgiveness enacted so far](https://www.cnbc.com/2023/07/19/biden-is-forgiving-39-billion-in-student-debt-heres-who-qualifies.html) (the HEROES act one was rejected by supreme court) ensures that anyone forgiven has already *at least* once over **already paid back the loan principle through the interest**, meaning the government is merely post-hoc dropping the interest rate so this person does not live in the negative the rest of their lives. I can do the math to find out exactly where, but I know in most of these cases of 20+ year loans, even after forgiveness, the government has still made a profit from these people.
The really fucked up part of student loans that people want addressed is the **interest**, not the idea of having to pay back the principle.
> Do you think an entire generation is just going to ruin their credit?
Lemme introduce you to the agriculture loan saga of India (50+ year old story):
1. Govt gives loans to farmers
2. Farmers have made up 50-70+% of the population of India for the last 70 years
3. Farmers cannot pay back loans
4. Govt (in need of votes) bails them out with tax money
5. Farmers take more loans
6. Infinite money glitch (obviously at the expense of taxes collected which conveniently excludes the agricultural income)
7. The cycle continues to this day.
Never underestimate the freebie-based vote bank politics.
Exactly this. He's a dual citizen originally from the Philippines, but after about fifteen years of shit jobs and a student loan that somehow hadn't gotten any smaller despite his payments, he said fuckit and went back home 😂
I already don't expect social security nonexistent by the time I am old enough to receive it. I'll trade everything I've paid in in exchange for my student loans.
If 1 person owes the government $50k, that's their problem. If a million people owe the government $50k, that's the government's problem. Or something like that...
In the united states for private student loans yeah.
but if you work in the public sector and have federal student loans you can get your student loans refinanced for a low monthly payment and forgiven after 10 years. Depending on your household size and income, you can qualify for monthly payments as low as $0 a month and as long as you’re compliant with your monthly payment and you fill out a form each year updating your income and household size you will get your loans forgiven after 10 years regardless of what the remaining balance is.
25 years if you’re not a public servant.
It’s free to fill it out each year.
https://studentaid.gov/manage-loans/repayment/plans/income-driven
repayment simulator: https://studentaid.gov/loan-simulator/repayment/wizard/personal-info/select-what-applies
I pay $13 a month and owe a dumb amount of student loans and it’ll all be forgiven in 2029
This is what they pitch you, not the reality. I had the same mindset, couldn’t wait for year 10 to watch my debt disappear. Hit 10, Applied… waited…applied again… waited again…. I did this for 5 years before I realized they forgive something like 1% of qualifying applicants.
How the hell are you paying only $13 a month?! General rule tends to be 10% of your income, atleast that’s what it is for me (in healthcare). I’d be curious to how you were able to finesse such a low monthly payment with buku loans
The answer is he makes way less money than you to get such a low payment. The moment he starts making more money, his payment will go up (you have to recertify your payment plan each year and they know what you make when you pay your taxes). So his advice is terrible, he’s basically telling people to just be poor lol.
Also forgiveness is currently stuck at 20/25 years unless you work in the public sector and get PSLF, then you can get forgiveness in 10 years.
Even if you make $100k a year if your household size (which includes you) is 3 then you’ll pay half on PAYE/REPAYE (Now called SAVE i think) plan compared to a standard payment plan and $200 less on an IBR plan compared to a standard plan.
Unless you’re single and you make great money then you will almost certainly qualify for a better monthly payment than your standard plan.
https://studentaid.gov/loan-simulator/repayment/wizard/personal-info/select-what-applies
You can simulate repayment plans using the above link
Except during COVID. I haven't had to recertify since like 2019 and for some reason won't have to until 2025. They think my income is 15% of what it actually is
I make a lot, I also have a lot of dependents, the government has weird math but I ain’t questioning it. I pay less than he does and mine will be forgiven soon.
Household size + income determines the payment amount not just income. I could owe $1m in federal student loans and my monthly payment would still be the same
nah, just keep making these comments and wait and see. Soon Google's Gemini will recommend you to invest your student loans in the stock market to pay them off
It's not even that wrong or irresponsible or insane to take out student loans to invest. It just depends what are the rates for the loan and what he invested it in.
I literally cannot think of a worse way to secure funds for the stock market. Like even selling your organs would be better than this. This guy's a real one.
This was new zealand. Don't know enough about US to compare but it does incur interest so not a good long term outcome once drunken days of college are over!
If it's subsidized federal loans, they don't accrue interest while in school.
If you have a very low cost of living, you can take the extra and throw it into an index fund.
This is very common and widely recommended here in Sweden since student loans basically have zero interest (0,59% currently but used to be 0,00%). At that point you can even put it into a regular savings account and make guaranteed profit.
And debt that is pretty strict on what you can use the money for.
I wouldn't go around openly advertising you're spending thousands of dollars in student loan money on shitposting here.
I did the same thing. Dude probably got a full ride or used VA benefits and didn't need to take out the loans, but did anyways.
Anyways, I'm not sure if i made or lost money when i did it, which probably means i lost money.
Watch OP lose it all with bets that went south. This will be hilarious if OP does pick the wrong company that fails within the next 4 years.
I got that *rubbing hands together with devil’s smile* sentiment in this post. I also got no sympathy for OP if he does lose that amount and the US government finds out.
It’s the cheapest debt anyone normal has access to, except maybe a mortgage. Plus there’s a nonzero chance it gets just completely forgiven. I will make the minimum payment on my student loans forever.
The smart move would be to a solid portion of the gains into VOO or something that you can draw on to make monthly payments whenever needed. Take advantage of that low IR and long payoff timeline.
Just feels like a lot of debt for something intangible. Personally I feel like I’m starting life behind because of loans I had to take to even think about college, which I haven’t even finished
In 10 years, $25k will be nothing to fret over. That can be paid back within a year with a decent job and frugal budgeting. Just don't succumb to life style creep when you start your career. Keep living like a college student (ramen and roommates) for awhile even after you graduate.
Yeah, I was joking. I intentionally avoided taking out any student debt because it terrified me. The only part of my college I had to pay for was my study abroad, which I thought was a waste of money at the time.
Lol I'm sitting just over 200k and only make 100k/yr. I pay 50/day for loans because I went to school and worked my ass off for a job that requires this degree. Literally theft lol
Depends on whether or not they have 16k of other income. If so, it's their income they're investing and the student loans are paying their living/education expenses.
How about you funge on deez nuts. *right clicks erotically*
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Is it? It just goes against terms and conditions of the loan, no? I can see federal loans having special agreements in place when signing, but I never even thought that this was really different then just breaking terms and conditions of any loans, where you are just subject to penalties/fees and potentially immediate recall and repayment of the entirety of the loan, which isn't illegal.
100% the "Why are they confessing?" scene from the big short.
It's illegal, and because the gains are being acquired illegally, they're also forfeit if OP gets caught. And if OP doesn't want to get caught then they're also going to have to commit tax fraud.
If you have enough money to reimburse it, do it now before you lose everything. Then take some out because profits, then only then, come back to play casino again.
I did this too lmao
No clue why the Feds give people 2-3x more than they actually need 🤷♂️
You're going to give me a large amount of interest-deferred money? K thx bye
I'm actually shocked at the responses here. Yeah probably not technically legal but pretty unlikely to get caught. Mathematically you should ALWAYS take out a loan for the time period in which your interest rate is zero.
>pretty unlikely to get caught
Yeah, college age student getting thousands of dollars after approval for a loan and then dumping tens of thousands into stocks.
Super discrete.
> Yeah probably not technically legal but pretty unlikely to get caught.
with this logic, you should commit crimes if you are unlikely to get caught? wtf?
I put about 5k in spy, for a buffer, and then the rest I trade weekly in options and stocks like I bought tesla 3k worth when it hit 150 and in just riding it up
Based on my clearly smart decision-making of a college degenerate. If anyone would love to offer me a job or an internship. You're welcome to do so! ;)
Good luck working that job/internship from prison after you get audited!
Not even a joke. I'd say delete this for your sake. But it doesn't matter the feds can retrieve this immediately even if you delete it.
In the 2008 to 2020 this was a logical thing to do, low interest rates stocks moving up.. now interst rates are a bit higher so it depends on the rate you pay on your student loans.... And use just relatively low volatility products index ETF s etc
Oh my gourd!
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You more than doubled it, get your money back and let the rest ride.
I mean, you more than doubled it, get your next study loan, triple it and get a ride in your new Motorbike.
Hmmm and they want the people with out them to pay for these loans …..
And listen, I know guys who built race cars off their loans. So I’m not mad at you in any aspect. Just stating some facts.
Good for you tho. Cash out and get a free schooling.
Smart move. It's a win-win situation. think about it,
If you made money, you can pay back your loan and then some.
If you lost it all, no problem, just don't pay the loan and the government will forgive it eventually.
It's literally free money.
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You 100% posted this is the right place.
ChatGPT: “Regulatory Scrutiny: *Student loans, especially federal loans, are subject to regulatory oversight. Misuse of funds can lead to audits or investigations, which could uncover the inappropriate use of the money.*” … I’m happy for OP but he probably should not be advertising this to the masses out of pride.
Tbf, a student loan is like the worst money to gamble with because you can not shake that loan no matter how broke you go
Holy shit, I didn’t even think about that. Imagine gambling with permanent debt. So permanent, that the federal government will never forgive you.
I have a feeling gen z and alpha are just not going to pay. Can't wait for the "just don't pay movement" chapter of american history
More often than not, any time I mention student loans as a reason I’m limiting spending/hangouts, people do actually tell me “just don’t pay”
With seeing other people get their student loans forgiven, why should someone pay? Feels like sooner or later they're all going to get forgiven at this rate, so why keep paying it? Very little incentive to pay it back right now.
I mean a lot of people have given up on ever getting out of the debt and just pay the minimum they can because they already paid back the principal a couple times. What's the point of you know you'll never catch up
It’s me! I’m that use case! Took out 60k for undergrad and grad school - currently owe 99k. 10 years in paying more than my mortgage payment every month. My fault for getting sick for almost a year, forcing me into forbearance to be able to afford my meds and rent while I was out of work. Interest has ballooned so much that if I don’t come up with 10k lump sum to wipe the current interest balance, I will never touch principal. Living the American dream!
Where’s the moral obligation after the principal is paid?
I see no moral obligation to pay *at all\**. The entire system's a fucking scam. The colleges have spent decades jacking up prices so everybody starts their adult life with a preposterously huge pile of debt. The economy has been rigged so only the top 10% or so are actually doing okay and everyone else is living paycheck to paycheck, so you get stuck making minimum payments for decades. Meanwhile, the people responsible for all this got their college education paid for by working a summer job. And those same people are the ones expecting you to cut them a check. For what, exactly? Oh, my education is just *soooo* much better now that it costs 100x more? And everyone was just so much better at their jobs 50 years ago which is why they got paid living wages and we don't? Great job, guys! I'll definitely pay you real money to reward you for these things you've done. The parasites who fucked the country over six ways from sunday aren't getting as big a payday as they expected.? Boo fucking hoo. The absolute horror of billionaires not siphoning even more money out of the lower and middle classes, how can I possibly sleep at night knowing that they'll only be able to afford one megayacht and not two. \*Yes, I really am suggesting you just stop paying. There are ways to do it legally, they are ways to do it not legally. Look into it, and do it. Just be sure you don't default on private loans because those shitfucks will just sue you.
God this narrative is so annoying, there is no blanket or even close to general loan forgiveness. The [stipulations for loan forgiveness enacted so far](https://www.cnbc.com/2023/07/19/biden-is-forgiving-39-billion-in-student-debt-heres-who-qualifies.html) (the HEROES act one was rejected by supreme court) ensures that anyone forgiven has already *at least* once over **already paid back the loan principle through the interest**, meaning the government is merely post-hoc dropping the interest rate so this person does not live in the negative the rest of their lives. I can do the math to find out exactly where, but I know in most of these cases of 20+ year loans, even after forgiveness, the government has still made a profit from these people. The really fucked up part of student loans that people want addressed is the **interest**, not the idea of having to pay back the principle.
Its like 1% or less that get forgiven lol
Dude fr i hear this a lot
I see on other apps like blind with people making well over 200k saying they are not paying with 1-2 properties. Seems like the feds don’t care
Do you think an entire generation is just going to ruin their credit? I mean it’s not like they were buying houses anyways
Yes. Exactly. They'll be living with their parents going all cash
Until the fed ends cash for its crypto coin specifically to avoid people being able to do that
Why would they go to crypto when they can already track you using a credit card?
Us government is the largest holder of crypto in the US
> Do you think an entire generation is just going to ruin their credit? Lemme introduce you to the agriculture loan saga of India (50+ year old story): 1. Govt gives loans to farmers 2. Farmers have made up 50-70+% of the population of India for the last 70 years 3. Farmers cannot pay back loans 4. Govt (in need of votes) bails them out with tax money 5. Farmers take more loans 6. Infinite money glitch (obviously at the expense of taxes collected which conveniently excludes the agricultural income) 7. The cycle continues to this day. Never underestimate the freebie-based vote bank politics.
If everyone has bad credit, no one has
If everyone ruins their credit then that just means a new baseline excellent is established. Called 600+
tbf, I wish experian would lose my number before they give it to yet another identity theft ring.
I dunno about Gen Z, but a fellow Gen X buddy just stopped paying and moved out of the country.
Which country? Asking for a friend… 😅
Pretty much any country. But make sure you never plan to go back or depend on any social security income.
Exactly this. He's a dual citizen originally from the Philippines, but after about fifteen years of shit jobs and a student loan that somehow hadn't gotten any smaller despite his payments, he said fuckit and went back home 😂
I already don't expect social security nonexistent by the time I am old enough to receive it. I'll trade everything I've paid in in exchange for my student loans.
You're 4 years too late. The "just don't pay" chapter started in 2020.
They won't care, they'll just report it to the credit buereaus and take money from any potential tax returns, out of your estate when you die, etc.
And gen alpha still won't pay
That literally won't matter to the people they're not paying....
If 1 person owes the government $50k, that's their problem. If a million people owe the government $50k, that's the government's problem. Or something like that...
currently my winning strategy as a millennial. Since I can never afford a home anyways.
Oh interesting, I'm already in the "die with it" American Club.
Crazy enough it’s a gen x friend of mine screaming about not paying credit card debt (30k+) for the next few years lol
It's funny because it's true. I remember the paper work and it was like whoa, they'll even come after me in death to get this back.
Much better to gamble with all that money you were going to try to pay medical bills with.
In the united states for private student loans yeah. but if you work in the public sector and have federal student loans you can get your student loans refinanced for a low monthly payment and forgiven after 10 years. Depending on your household size and income, you can qualify for monthly payments as low as $0 a month and as long as you’re compliant with your monthly payment and you fill out a form each year updating your income and household size you will get your loans forgiven after 10 years regardless of what the remaining balance is. 25 years if you’re not a public servant. It’s free to fill it out each year. https://studentaid.gov/manage-loans/repayment/plans/income-driven repayment simulator: https://studentaid.gov/loan-simulator/repayment/wizard/personal-info/select-what-applies I pay $13 a month and owe a dumb amount of student loans and it’ll all be forgiven in 2029
Damn are you making $10/hour?
This is what they pitch you, not the reality. I had the same mindset, couldn’t wait for year 10 to watch my debt disappear. Hit 10, Applied… waited…applied again… waited again…. I did this for 5 years before I realized they forgive something like 1% of qualifying applicants.
How the hell are you paying only $13 a month?! General rule tends to be 10% of your income, atleast that’s what it is for me (in healthcare). I’d be curious to how you were able to finesse such a low monthly payment with buku loans
The answer is he makes way less money than you to get such a low payment. The moment he starts making more money, his payment will go up (you have to recertify your payment plan each year and they know what you make when you pay your taxes). So his advice is terrible, he’s basically telling people to just be poor lol. Also forgiveness is currently stuck at 20/25 years unless you work in the public sector and get PSLF, then you can get forgiveness in 10 years.
Even if you make $100k a year if your household size (which includes you) is 3 then you’ll pay half on PAYE/REPAYE (Now called SAVE i think) plan compared to a standard payment plan and $200 less on an IBR plan compared to a standard plan. Unless you’re single and you make great money then you will almost certainly qualify for a better monthly payment than your standard plan. https://studentaid.gov/loan-simulator/repayment/wizard/personal-info/select-what-applies You can simulate repayment plans using the above link
Except during COVID. I haven't had to recertify since like 2019 and for some reason won't have to until 2025. They think my income is 15% of what it actually is
I make a lot, I also have a lot of dependents, the government has weird math but I ain’t questioning it. I pay less than he does and mine will be forgiven soon.
This exactly. Household size is the key.
> How the hell are you paying only $13 a month?! He is poor af
Household size + income determines the payment amount not just income. I could owe $1m in federal student loans and my monthly payment would still be the same
As a guy who student loaned, they don’t give a fuck. Go into as much debt as possible for as long as possible is the governments true sentiment.
try telling that to the auditor when they are uncovering how you broke the terms of your loan agreement with deliberate misuse of funds.
You may actually be right. IF OP actually makes money on the loan and pays it back before paying any interest, that may be suspicious.
I don't always post my financial crimes online, but when I do, I post them on reddit.
nah, just keep making these comments and wait and see. Soon Google's Gemini will recommend you to invest your student loans in the stock market to pay them off
It's not even that wrong or irresponsible or insane to take out student loans to invest. It just depends what are the rates for the loan and what he invested it in.
We can discuss whether it's wrong or not, but the one thing that is for certain is that it's a violation of the terms of the loan.
This is the type of degeneracy that I come here for! Godspeed son.
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It’s Stan, Grandpa
gambling on your college loan is insane. Love to see it
Genuinely one of the worst ideas I’ve ever fuckin seen. Good shit OP
I literally cannot think of a worse way to secure funds for the stock market. Like even selling your organs would be better than this. This guy's a real one.
We had a mate at university that withdrew his loan in 1 day and bet it all on a cricket match. He lost. Everyone paid for his beers that night.
I assume he wasn't American right? If he wasn't, are student loans just as dangerous in other countries as they are in America?
This was new zealand. Don't know enough about US to compare but it does incur interest so not a good long term outcome once drunken days of college are over!
There was a guy in the UK who put his student loan on a football team at 3-0 up to win like £100 for his night out off £10k and they drew 3-3
this might be the stupidest thing I've read here. if you're gonna gamble at least go for glory. not risking 10k to win $10 type shit
Not to detract from the degeneracy, but student loans in NZ are interest free right?
Depends on the country. In Finland this is almost the norm.
If it's subsidized federal loans, they don't accrue interest while in school. If you have a very low cost of living, you can take the extra and throw it into an index fund.
Subsidized student loans have no interest accrue until 6 months after graduation - what beats that?
This is very common and widely recommended here in Sweden since student loans basically have zero interest (0,59% currently but used to be 0,00%). At that point you can even put it into a regular savings account and make guaranteed profit.
It’s recommended to sports bet with loans?
No matter what happens, he will receive an education.
Gambling with the only debt you can't ever escape. This guy belongs here.
And debt that is pretty strict on what you can use the money for. I wouldn't go around openly advertising you're spending thousands of dollars in student loan money on shitposting here.
I did the same thing. Dude probably got a full ride or used VA benefits and didn't need to take out the loans, but did anyways. Anyways, I'm not sure if i made or lost money when i did it, which probably means i lost money.
You know what they say — if you can take out loans, be sure to take out the kind that can't be discharged in bankruptcy.
I get my financial advice from fortune cookies from Chinese buffets.
Wang Buffett, the oracle of Beijing
This is the way 😂
Ok. There is a bubble ...
Watch OP lose it all with bets that went south. This will be hilarious if OP does pick the wrong company that fails within the next 4 years. I got that *rubbing hands together with devil’s smile* sentiment in this post. I also got no sympathy for OP if he does lose that amount and the US government finds out.
S&P 500 is not gambling for long term
Near term it is and can trade sideways for a number of years.
Yeav if it drops 10% by the time he starts making payments it will be a bad bet.
Best to invest with a non-dischargeable loan at relatively high rates while the market is at all time highs
It was a better bet than the Op's future
Why not? It’s free money. Don’t you heard about college loan forgiveness. Relax it’s all on taxpayers 😎
Yeah, I heard the next people to be forgiven for student loans are going to be the ones who gambled their student loan money in the stock market.
The alternative is finishing college with so much debt you pay off the loan after 30 years. The loss is baked in.
Every college loan is a gamble just different odds
Smart move would be to cash out the loan repayment amount now and free roll the rest.
He wouldn't have been doing what he he has been doing in the first place if he were smart. 
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Two birds in the bush are worth more than a chicken dinner
You sound like someone who reads the terms of the loan
It’s the cheapest debt anyone normal has access to, except maybe a mortgage. Plus there’s a nonzero chance it gets just completely forgiven. I will make the minimum payment on my student loans forever. The smart move would be to a solid portion of the gains into VOO or something that you can draw on to make monthly payments whenever needed. Take advantage of that low IR and long payoff timeline.
Here I am freaking out about 25k total in student loans and you’re gambling 16k of it
25k is nothing. You'll have that paid off by 40.
Just feels like a lot of debt for something intangible. Personally I feel like I’m starting life behind because of loans I had to take to even think about college, which I haven’t even finished
These clowns and their intangible traits like education
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Proof
In 10 years, $25k will be nothing to fret over. That can be paid back within a year with a decent job and frugal budgeting. Just don't succumb to life style creep when you start your career. Keep living like a college student (ramen and roommates) for awhile even after you graduate.
Because every college graduate gets good jobs 🤫
Friend of mine graduated this spring with a degree in computer science, he can’t find a job 
Yeah, I was joking. I intentionally avoided taking out any student debt because it terrified me. The only part of my college I had to pay for was my study abroad, which I thought was a waste of money at the time.
I studied abroad, too!!! But then she got a restraining order against me :(
That's what i thought.
If they’re federal and have a decent interest rate just pay the bare minimum. That’s what I do
Lol I'm sitting just over 200k and only make 100k/yr. I pay 50/day for loans because I went to school and worked my ass off for a job that requires this degree. Literally theft lol
Just work for 2 years and pay it off.
Just FYI, I'm 99% positive that it's against the agreed terms of the student loan to use the funds this way. But this is WSB so.... 😅
It is
What mama don’t know won’t hurt her
Depends on whether or not they have 16k of other income. If so, it's their income they're investing and the student loans are paying their living/education expenses.
Even if you lose, you learn a lesson! Great use of educational funds
🤣🤣🤣
Why get into debt with school when you can make MILLIONS in the stock market. Good on you, kid!!
The bulls balls of a fucking degenerate!! One of us! One of us!!
What could possibly go wrong
That's technically illegal. I ain't going to tell no one, but congrats for telling on yourself.
That's not "technically illegal", it's just normal illegal.
But once he’s rich different rules apply
It's only illegal if you can't afford the bribe
Moneys fungible. This is the other $16k he had lying around. The student loan just freed it up.
How about you funge on deez nuts. *right clicks erotically* *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
“Exactly- how can they tell it was the same money they gave me?” *direct deposits government check into RH account*
Is it? It just goes against terms and conditions of the loan, no? I can see federal loans having special agreements in place when signing, but I never even thought that this was really different then just breaking terms and conditions of any loans, where you are just subject to penalties/fees and potentially immediate recall and repayment of the entirety of the loan, which isn't illegal.
It’s ground for a lawsuit to take all your profits. You use their money they get to keep it all 😂
1) I love the way you roll; 2) jokes aside, I do hope it's not 0dte.
https://preview.redd.it/j1gco3klsn8d1.png?width=1080&format=pjpg&auto=webp&s=5fa62d7210e77620a914e114670e450d54d7c004
Pretty sure this is illegal And to admit to a federal crime in Reddit Good luck
100% the "Why are they confessing?" scene from the big short. It's illegal, and because the gains are being acquired illegally, they're also forfeit if OP gets caught. And if OP doesn't want to get caught then they're also going to have to commit tax fraud.
That was very clever and responsible .
Gambling you student loans? This might be the top of the market…
If you have enough money to reimburse it, do it now before you lose everything. Then take some out because profits, then only then, come back to play casino again.
200 IQ move and very responsible. I’m sure your parents are proud 
ever heard about options?
Please post loss porn later so I don’t feel bad that I didn’t do this
This is obscenely irresponsible and a sure way to get wrecked. Very nice work OP. Much proud.
I did this too lmao No clue why the Feds give people 2-3x more than they actually need 🤷♂️ You're going to give me a large amount of interest-deferred money? K thx bye
I'm actually shocked at the responses here. Yeah probably not technically legal but pretty unlikely to get caught. Mathematically you should ALWAYS take out a loan for the time period in which your interest rate is zero.
>pretty unlikely to get caught Yeah, college age student getting thousands of dollars after approval for a loan and then dumping tens of thousands into stocks. Super discrete.
> Yeah probably not technically legal but pretty unlikely to get caught. with this logic, you should commit crimes if you are unlikely to get caught? wtf?
Finally, a worthy post for WSB
Congratulations on committing illegal?
OP just to let you know if the right people see this your next roommate will be Bubbles the Butt Blaster
Which stock did you buy?
I put about 5k in spy, for a buffer, and then the rest I trade weekly in options and stocks like I bought tesla 3k worth when it hit 150 and in just riding it up
Student loan forgiveness incoming, double down baby!
It’s not though, thanks to Missouri and Kansas.
I'm in awe at the sheer balls on this one.
Based on my clearly smart decision-making of a college degenerate. If anyone would love to offer me a job or an internship. You're welcome to do so! ;)
"Hire me, I commit fraud!" is certainly a job application.
Maybe he's planning to run for president!
And in other financial news Wells Fargo have appointed a new CEO u/skippM3
With this post, you are admitting of committing an illegal act with a federal loan. Just sayin'
Good luck working that job/internship from prison after you get audited! Not even a joke. I'd say delete this for your sake. But it doesn't matter the feds can retrieve this immediately even if you delete it.
Commits fraud and implicates themselves, who wouldn't want to hire such genius?
In the 2008 to 2020 this was a logical thing to do, low interest rates stocks moving up.. now interst rates are a bit higher so it depends on the rate you pay on your student loans.... And use just relatively low volatility products index ETF s etc
Well no one can say this doesn't belong here. 😅🤙
same got my first robinhood deposit from fafsa and the covid grant, lost everything though
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So u committed fraud lmao
This is one reason among many loans shouldn’t be forgiven.
Another dude did this some Time ago. Wonder what happened (he lost hundreds of thousands iirc) lol
delete this, csh out nd pick up poker.. dont ever do this
Reading these comments makes me realize why our economic situation is an utter disaster.
This kid is going places Probably not college, But places
And gets them refunded on the taxpayers dime. I hate this. Dystopian asf
NNE!
Seems kinda unethical
Not even sure why you went to college in the first place being that smart. Well done!
Sounds like jail to me...
Better hope old man Biden is around to wipe out your loans with our money.
How do the rich stay rich? Use other people's money! LFG
Spy went up 25% this year and u decide now to go all in?😂
I cannot imagine the thought process but congrats on making a good bet
You more than doubled it, get your money back and let the rest ride. I mean, you more than doubled it, get your next study loan, triple it and get a ride in your new Motorbike.
The infinite money glitch has finally been realized
Fox news is going to be quotes this as a reason Biden shouldn't wipe out student loan debt.
Hmmm and they want the people with out them to pay for these loans ….. And listen, I know guys who built race cars off their loans. So I’m not mad at you in any aspect. Just stating some facts. Good for you tho. Cash out and get a free schooling.
Won’t this make you broke and in prison?
Welcome to bull market, be aware of bear market
Smart move. It's a win-win situation. think about it, If you made money, you can pay back your loan and then some. If you lost it all, no problem, just don't pay the loan and the government will forgive it eventually. It's literally free money.
This is the way…
I knew a guy 20 years ago who used his student loans to finance a marijuana selling operation. Was quite successful.
This is an epically bad idea. Take your gains and get out.
This is S+ tier degeneracy
Pretty sure the loan state you can’t do that. Who cares muhahaha
I almost chocked reading this lol, fucking legendary
I think the government would like to talk to u about ur cars extended warranty... but as everyone else is saying here HELL YEA
The only true way to debt free “investing”
Keep up the gains for ten more years and you'll get the interest paid off. Keep up the good work.