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Kyoubed posted:Originally posted this in the long term savings thread but it got buried under stockchat:
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# ? Aug 24, 2015 22:26 |
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# ? Jun 8, 2024 09:14 |
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Dik Hz posted:Is the pension funded when you make the contribution? Is the pension insured by a reputable company? Don't get paid in promises. Not sure what you mean by the funding bit? Scheme one is government-funded and the funds in scheme two are all from either Scottish Widow or Standard Life - no idea how reputable they are as companies.
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# ? Aug 25, 2015 00:05 |
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alright, really dumb question time. For credit cards, utilization only matters at the time of statements? Or is it how much I have used it overall in the last month since the last statement? For example, let's say I have it at $0. I spend around $600 during the month, but my statement hasn't been calculated yet. So, I pay it down to $300 (or around 20% utilization) and then the statement comes out. Will it count as the 20% utilization that I tried to get it down to, or does it factor in the other costs as well?
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# ? Aug 26, 2015 17:50 |
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Utilization is calculated based on what the credit card company reports to the credit bureau upon the statement close date. If you max out your credit card on the first day of the statement period and then pay it off in full the next day, your utilization will not be affected.
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# ? Aug 26, 2015 18:47 |
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Also, utilization is meaningless unless you either really need good credit for a loan, or you have a spending problem to contain.
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# ? Aug 26, 2015 19:43 |
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Hey I have a quick investing question. I am just coming back to work after several months of being laid off. I only have about $4000 left in my emergency fund. At this point I can commit 2-3k per month towards an investment of some kind. Ideally this will be my long term savings, however I need the money to be accessible as I work in the oil industry and there is a reasonable chance that I may be out of work again in the coming years. Can anybody recommend a moderate to low risk fund that I could invest in, that won't have any crazy penalties if I have to pull the money out?
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# ? Aug 27, 2015 21:18 |
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Safety Meetings posted:Hey I have a quick investing question. After that, max your Roth IRA, 401k match, and then raise 401k(+IRA) to 15% of gross, then either max 401k or stick money into taxable accounts. Money you may need in ~5yrs or less shouldn't be in an investment account IMO. Too much risk.
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# ? Aug 27, 2015 21:25 |
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SiGmA_X posted:After that, max your Roth IRA, 401k match, and then raise 401k(+IRA) to 15% of gross, then either max 401k or stick money into taxable accounts. This is really confusing. (+IRA)? You already said to max IRA. Raise 401k to 15%, then max it? Which is it? OP also asked for long-term savings that "need to be accessible" in case he's out of work. 401k is the opposite of "accessible", unless there are some special unemployment rules for withdrawal (and if so they should be clarified.)
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# ? Aug 27, 2015 23:08 |
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Blinky2099 posted:This is really confusing. (+IRA)? You already said to max IRA. Raise 401k to 15%, then max it? Which is it? OP also asked for long-term savings that "need to be accessible" in case he's out of work. 401k is the opposite of "accessible", unless there are some special unemployment rules for withdrawal (and if so they should be clarified.) I think he means the IRA + the 401k should be at least 15% of your gross. He addressed the accessible part by saying that money should not be in an investment account at all, and should be in savings. The 401k should be priority over these savings though once the emergency fund is complete.
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# ? Aug 27, 2015 23:59 |
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Dustoph posted:I think he means the IRA + the 401k should be at least 15% of your gross. Maybe split it up where half, or a quarter, or 3/4ths of that $2-$3k goes to long-term savings like IRA/401k, with the other portion goes into CDs or 1% savings accounts. Or just make your emergency fund 9/12/18-months instead of 6-months, and then just dump the rest into retirement.
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# ? Aug 28, 2015 00:06 |
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As a fresh grad and new teacher, I continue to be asked to sign away my money! The most recent request was for any number of different policies with a life insurance company, National Teachers Associates Life Insurance Company. I already get full healthcare, dental, vision, and $40k life at no cost through my district. What is the opinion on these other insurance policies? I'm not worried over cancer, disability, heart, etc. but accident insurance doesn't seem to be a bad deal. Granted, cheap insurance is cheap for a reason as I understand it (the likelihood of payout is low, right?). It's always pitched as "It's only $10 biweekly" and all that, but with the union and this insurance stuff, it seems a lot of people want small percentage points of my income that will add up to decrease my budget.
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# ? Aug 28, 2015 04:20 |
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If you are interested in life insurance, compare the coverage they are offering to term life insurance (I'm sure you can find quotes online). If you don't have a wife/kids, I wouldn't bother to get life insurance in general though.
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# ? Aug 28, 2015 04:34 |
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its no big deal posted:As a fresh grad and new teacher, I continue to be asked to sign away my money! The most recent request was for any number of different policies with a life insurance company, National Teachers Associates Life Insurance Company. I already get full healthcare, dental, vision, and $40k life at no cost through my district. What is the opinion on these other insurance policies? I'm not worried over cancer, disability, heart, etc. but accident insurance doesn't seem to be a bad deal. Granted, cheap insurance is cheap for a reason as I understand it (the likelihood of payout is low, right?). You don't need accident insurance. If god forbid you have an accident, your health insurance will do just fine when you go to the hospital. If you accidentally die, you are not more dead than if if people could see your death coming. 40K is more than enough unless you have a spouse and/or kids. But I would check into long term disability though. You are much more likely to be disabled than die and the average SSI benefit is something like $1200/mo, which would probably really crimp your lifestyle.
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# ? Aug 30, 2015 20:21 |
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Zeta Taskforce posted:You don't need accident insurance. If god forbid you have an accident, your health insurance will do just fine when you go to the hospital. If you accidentally die, you are not more dead than if if people could see your death coming. 40K is more than enough unless you have a spouse and/or kids. But I would check into long term disability though. You are much more likely to be disabled than die and the average SSI benefit is something like $1200/mo, which would probably really crimp your lifestyle. I avoided Mr. "insurance man who's thick Tennessee accent means I understand every third word" so glad my gut was on point. Thanks!
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# ? Aug 30, 2015 22:29 |
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So I have no debt, my only payments are cell phone, rent and electric bills which are all month to month and comes out to less than 30% of my income each month. In the last 18 months my life finally stabilized and I'm on a strong upward vector so I indulged in some travel and now I'm building up some savings. There's a good chance I'll move across the country to SF at the end of the year I have about $10,000 in cash savings outside of my IRA/Roth etc Should I just park this money in my bank account until next summer? The company will probably cover a big chunk of my relocation costs but SF is about 40% more expensive than where I live now, and I'll likely have to (want to) buy all new furniture when I move and use this opportunity to jettison all the Ikea-level crap I've been accumulating and start over. I've moved cities in my metro area before and generally it cost me about $1000 each time, but I'm guessing this cross country move will be dramatically more expensive. Is it worth it to park that little money somewhere other than a bank account for less than a year? If not, where should I be parking it?
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# ? Aug 31, 2015 02:43 |
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Hadlock posted:So I have no debt, my only payments are cell phone, rent and electric bills which are all month to month and comes out to less than 30% of my income each month. If it is less than a year just park it in a bank account. See if there is an online account that pays a bit more, but if you find one that pays 1% you are doing great.
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# ? Aug 31, 2015 02:53 |
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Hey everyone I want to ask your guys recommendation on whether what I'm thinking of doing is financially viable and smart. I currently earn $490 a week after a tax, or 600 a week pretax (at 4 withholdings). I have been paying for my girlfriends schooling. It has not been cheap ($3000 per 9 week term, for this second term she managed a scholarship to make it $2000). The way I had been paying that had been personally loaning the money for the first term ($3000) and paying it off over 5 months (640 a month (it wasn't exactly $300 all said and done). For her second term I got some matching funds and only had to pay $1140. I will probably not get that for the third term. October 19th her 3rd term starts, and I just found out that one of my long term dental care loans switched back to minimum payments when I had set it to autopay the right amount to pay it off over the year. Which means if I don't pay it of by October 20th I get to pay interests on all of it ($300). The amount I still owe is $800. Between that and the $640 a month I was looking at nearly $3000 outlay in October without much hope of personal loans. I didn't know what to do. I still owe money on those personal loans until October. I decided to take a look at Prosper. My credit score is currently 698 with Transunion and 655 with Experian (was 679 took a 24 point dumb in the last month for no reason I can see). I got an offer to loan $4000 for 36 months with a monthly payment of something like $124 a month. I calculated the total cost of the loan after origination fee at $470. Which is 11.75%. I think that is a pretty decent rate but I may be wrong? This kind of loan would really liberate me from having to worry about money paycheck to paycheck which has been a major source of stress for the past 3-4 months. I don't spend a lot of money on restuarants and can post my Personal Capital shots and my monthly budget here if needed be but we eat out less than twice a week and don't have any major medical expenses or credit card loans to pay off. Do you think this is a wise decision for me to make at this point?
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# ? Aug 31, 2015 03:44 |
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PerpetualSelf posted:Hey everyone I want to ask your guys recommendation on whether what I'm thinking of doing is financially viable and smart. I currently earn $490 a week after a tax, or 600 a week pretax (at 4 withholdings). First thing, I doubt you will listen to this voice on a comedy forum, is I would not be paying for your girlfriend's school. If you were married, paying for your wife's school would be the thing to do, but not your girlfriend. Of course it will never happen to you, but millions of girlfriends and boyfriends have paid for their girlfriends and boyfriends to go through school only to break up. She should be the one taking out loans and working to pay for her school. There is only one way this works out in the end for you, lots of ways it doesn't. Paying for her school is a pretty bad idea. 11.75% is not a bad rate, especially for someone in such a precarious financial situation. But I don't like your use of the term "liberate". I know you are not blowing money on crap, I'm sure your budget is lean for the most part, but a loan won't liberate you from anything. This injection of cash will feel good for the next month or 2, but it does nothing to increase your income or reduce your expenses long term. The only thing it does is give you one more expense you didn't have before, that of the loan payment. While 11.75% is not bad for an unsecured loan, it is high for a student loan, which would be the better option because it would be in her name, not yours. If you are not going to pay for her school then you can pay $800 on the dental thing before October.
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# ? Aug 31, 2015 05:28 |
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Zeta Taskforce posted:First thing, I doubt you will listen to this voice on a comedy forum, is I would not be paying for your girlfriend's school. If you were married, paying for your wife's school would be the thing to do, but not your girlfriend. Of course it will never happen to you, but millions of girlfriends and boyfriends have paid for their girlfriends and boyfriends to go through school only to break up. She should be the one taking out loans and working to pay for her school. There is only one way this works out in the end for you, lots of ways it doesn't. Paying for her school is a pretty bad idea. I didn't want to be the one to say this first but I agree with Zeta 100% and alarm bells were going off in my head before I got to the end of the second sentence. If you were making $6000 a month instead of $2400 a month I would write it off as an amusing distraction but you're spending two months salary a year on her education -- if you buy in to the traditional engagement BS, that's what is typically reserved for an engagement ring. But maybe you're just a super altruistic guy or something
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# ? Aug 31, 2015 05:40 |
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PerpetualSelf posted:Hey everyone I want to ask your guys recommendation on whether what I'm thinking of doing is financially viable and smart.
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# ? Aug 31, 2015 16:11 |
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Hadlock posted:I didn't want to be the one to say this first but I agree with Zeta 100% and alarm bells were going off in my head before I got to the end of the second sentence. If you were making $6000 a month instead of $2400 a month I would write it off as an amusing distraction but you're spending two months salary a year on her education -- if you buy in to the traditional engagement BS, that's what is typically reserved for an engagement ring. But maybe you're just a super altruistic guy or something Even if he's a super altruistic guy, it's not viable for him if he's taking out a loan to pay for his girlfriend's education. If her education is a necessity that requires loans, she should be the one responsible for taking them out and repaying them.
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# ? Aug 31, 2015 16:31 |
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KYOON GRIFFEY JR posted:Even if he's a super altruistic guy, it's not viable for him if he's taking out a loan to pay for his girlfriend's education. If her education is a necessity that requires loans, she should be the one responsible for taking them out and repaying them.
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# ? Aug 31, 2015 18:51 |
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It reduces my current loan payments which are well over $600 a month. My girlfriend has been in a LDR with me for 3 years; comes from a extremely poor family overseas (they make $300 a month) and is studying English. While the $120 a month or so I will pay will decrease my monthly income to $2280 it will increase my monthly income over the next couple of months substantially. I will most likely pay the loan off early. I'm just putting that out there to clarify. She is in no position to pay for her education and the only way I can see that she could integrate into american society and make this relationship work was that. It was that or give up on it. But she was willing and I am willing. She is the one there is zero doubt in my mind on that. I dont think foreigners can get student loans in america. If they could she would. Once she integrates into american society enough to work and drive she will help pay for it. Its $120 a month. Some people pay that much for cable. PerpetualSelf fucked around with this message at 21:45 on Aug 31, 2015 |
# ? Aug 31, 2015 21:41 |
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This situation has more red flags than a May Day parade in Moscow.
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# ? Aug 31, 2015 22:06 |
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So as someone who invests into various stocks as a hobby, would investing into an index make better sense? I have £10k rotting away not being productive, and another £4k in various US stocks. Would I be better of just dumping more $/£/€ into an index?
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# ? Aug 31, 2015 22:10 |
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KYOON GRIFFEY JR posted:This situation has more red flags than a May Day parade in Moscow.
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# ? Aug 31, 2015 22:25 |
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Yes, go index investing. Do not be a stock picker with general funds. There is very little tax impact (unsure about international aspect of it) with total stock market indexes. They are 100% stock indexes, though, and are prone to volatility. If you want to use the money in the next five years, keep it in a bank account. If your window is greater than five years, investments are acceptable.
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# ? Aug 31, 2015 22:28 |
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KYOON GRIFFEY JR posted:This situation has more red flags than a May Day parade in Moscow. What are the Red Flags Kyoon?
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# ? Aug 31, 2015 23:26 |
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PerpetualSelf posted:It reduces my current loan payments which are well over $600 a month. My girlfriend has been in a LDR with me for 3 years; comes from a extremely poor family overseas (they make $300 a month) and is studying English. She doesn't even live with you?
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# ? Aug 31, 2015 23:35 |
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Marry her, get her a green card, bring her over and let her learn English for free by watching TV.
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# ? Aug 31, 2015 23:46 |
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Zeta Taskforce posted:She doesn't even live with you? She's here in the USA. I brought her over on a student visa. I am paying for her english studies here. In America. We are considering marrying but there is a legal issue because if it looks like she got a F1 Visa for the simple goal of marrying me and starting to live here she could get a green card rejected and ejected from the country.
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# ? Sep 1, 2015 00:51 |
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PerpetualSelf posted:It reduces my current loan payments which are well over $600 a month. My girlfriend has been in a LDR with me for 3 years; comes from a extremely poor family overseas (they make $300 a month) and is studying English. Best of luck to you, sir
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# ? Sep 1, 2015 01:06 |
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PerpetualSelf posted:She's here in the USA. But she doesn't live with you? That might be a start since your combined rent payment will drop and you will find out if you can stand each other when you are in the same space. There are things she can do now to make some money, albeit under the table. I had a friend who posted on craigslist offering Spanish lessons and within a couple weeks he had 6 clients who he was meeting with a couple times a week and he had a side project where he was making a few hundred dollars a week. No one is going to deport her for doing some tutoring on the side. Donald Trump isn't president yet. I'm not an immigration lawyer, but I know a little bit about it. I dated a Haitian guy for about a year who had overstayed his tourist visa and was illegally working. He ended up being nuts and bailed on me (looking back I dodged a bullet) but we did talk to a lawyer about marrying and the green card process. It seemed like if you can prove that you are in a bona fide relationship that you can prove with pictures, vacations you took together, phone records, and you fill out the paperwork correctly then both of you are fine. The way the lawyer was talking pretty much the day after we got married he could apply for a temporary green card and work permit. You can do what you want. Really. You don't need anyone's permission to do anything. But the way it reads with the loan is you are looking for a cheaper, easier way to finance stupid.
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# ? Sep 1, 2015 01:13 |
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Zeta Taskforce posted:But she doesn't live with you? That might be a start since your combined rent payment will drop and you will find out if you can stand each other when you are in the same space. Um I don't pay rent nor does she. Like I said. 2400 a month. 0 rent. No Car Payment. No debt of any significant kind outside these two debts.
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# ? Sep 1, 2015 01:24 |
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PerpetualSelf posted:It reduces my current loan payments which are well over $600 a month. My girlfriend has been in a LDR with me for 3 years; comes from a extremely poor family overseas (they make $300 a month) and is studying English. PerpetualSelf posted:She's here in the USA. Wait, she's in the U.S. going to school and you're still in a long-distance relationship? It doesn't seem like a good idea to pay for your girlfriend's tuition considering you guys could break up tomorrow (or after she graduates).
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# ? Sep 1, 2015 03:01 |
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more friedman units posted:Wait, she's in the U.S. going to school and you're still in a long-distance relationship? No when she came over it stopped being a LDR and proceeded to become a normal relationship. I'd agree in most cases. This is not most cases. We're not going to break up. We're closer to getting married than that. We practically are married. It's a really long story but I don't think us breaking up is a legitimate concern at this point in time.
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# ? Sep 1, 2015 04:47 |
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Moneyball fucked around with this message at 13:56 on Apr 9, 2019 |
# ? Sep 1, 2015 05:22 |
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PerpetualSelf posted:No when she came over it stopped being a LDR and proceeded to become a normal relationship. Ah, okay. I guess I don't see why you couldn't get married now. You said that it would look like she came to the U.S. under false pretenses if you did that, but you have evidence of a 3-year relationship. If you were married, she could apply for a green card and be eligible for student loans.
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# ? Sep 1, 2015 05:39 |
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I thought it was standard practice for American universities to not admit international students who are unable to demonstrate ability to pay for four years
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# ? Sep 1, 2015 06:01 |
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# ? Jun 8, 2024 09:14 |
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pig slut lisa posted:I thought it was standard practice for American universities to not admit international students who are unable to demonstrate ability to pay for four years It doesn't sound like she's attending a university. OP are you living with your parents and paying for some chic's "tuition" across the country? Hadlock posted:Best of luck to you, sir
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# ? Sep 1, 2015 06:29 |