Life in Obama's Amerikka -- somebody actually pays off a loan, and it's news.

Kneebuster Tony must have gotten into trouble again.

Christ, what an asshole.

flaminio: Life in Obama's Amerikka -- somebody actually pays off a loan, and it's news.

Contrary to American geography classes, Canada is not "Obama's Amerikka".

My bullsh*t detector is lighting up:
Canada does not have dollar bills, and hasn't since 1987. We have loonies and toonies ($1 and $2 coins).
So the smallest paper banknotes (now being phased out and replaced with polymer notes) are $5.
That would still be a fair wad of cash, but not nearly the same story.
And by the way, did he get the cash from a drug-dealer client he got off from a charge of selling crack to schoolchildren?

That's Canadian humour for yee.

Mr.Tangent: flaminio: Life in Obama's Amerikka -- somebody actually pays off a loan, and it's news.

Contrary to American geography classes, Canada is not "Obama's Amerikka".

Well, it could be the model for Obama's Amerikka

Mr Kenjeev, who works for venture capitalist firm O'Leary Ventures

I originally read that as O'Leary Vultures.

I think my version is more accurate.

It's interesting to see it quantified out on receipt tape like he just bought a lunch at a restaurant. Doesn't seem like such a grandiose accomplishment like that. No quilled signatures, no Olde English calligraphy, no engraved vines and torches.

Always thought it would be funny to see a commencement ceremony where a dot matrix printer was whining the whole time on a table by the college president and some secretary was ripping the sprocket holes off the diploma printouts as each name was called.

Easy Reader: It's interesting to see it quantified out on receipt tape like he just bought a lunch at a restaurant. Doesn't seem like such a grandiose accomplishment like that. No quilled signatures, no Olde English calligraphy, no engraved vines and torches.

Always thought it would be funny to see a commencement ceremony where a dot matrix printer was whining the whole time on a table by the college president and some secretary was ripping the sprocket holes off the diploma printouts as each name was called.

So, University of Phoenix?

The Smails Kid: So, University of Phoenix?

Nah, when you're paying tens of thousands a year they have to keep up pretenses

The Smails Kid: Easy Reader: It's interesting to see it quantified out on receipt tape like he just bought a lunch at a restaurant. Doesn't seem like such a grandiose accomplishment like that. No quilled signatures, no Olde English calligraphy, no engraved vines and torches.

Always thought it would be funny to see a commencement ceremony where a dot matrix printer was whining the whole time on a table by the college president and some secretary was ripping the sprocket holes off the diploma printouts as each name was called.

So, University of Phoenix?

It's a great illustration of after stripping all the pomp and circumstance from education, it's really just about cold hard cash.

I paid off my undergrad student loans (about $36k) in one whack (check, though).

/ The money came from my first royalty check for a #1 game.
// CSB, but true.
/// And the year was... 1987.

Good for him but he was a thoughtless prick attention whore about it. Newsflash: nobody really cares. You are not on your own personal reality show.

Now I hope everybody this guy knows hits him up for money. Even if he says "no", whatever relationship he had with that person is forever changed.

GoldDude: My bullsh*t detector is lighting up:
Canada does not have dollar bills, and hasn't since 1987. We have loonies and toonies ($1 and $2 coins).
So the smallest paper banknotes (now being phased out and replaced with polymer notes) are $5.
That would still be a fair wad of cash, but not nearly the same story.
And by the way, did he get the cash from a drug-dealer client he got off from a charge of selling crack to schoolchildren?

Same on the bullshiat detector. Also I find it hard to believe paying off his student loans all at once worked out better than spending the money in another manner. But perhaps he has so much that he holds no mortgages and maxes out all his tax-deferred retirement contributions too.

Mr.Tangent: flaminio: Life in Obama's Amerikka -- somebody actually pays off a loan, and it's news.

Contrary to American geography classes, Canada is not "Obama's Amerikka".

well played, sir ... well played

What's the deal with the extra 30 cents? Did he give that to them and got it back as change, or is that what he still owes? The way the receipt is laid out it could go either way. If it's the balance, why not throw in an extra dollar? Maybe a 30 cent credit for however many days before the next billing cycle began, so it's a credit for interest? Will Deandra get Jefferson's voicemail in time to stop the wedding, and will Harrison's scheme to strand Caleb and Rebekha on St. Thomas until after the auction backfire? So many questions.

The Smails Kid: Christ, what an asshole.

What an asshole Canadian might look like:



/You are SUCH a dick
//You're a dick
_{///You're a dick}

Throwing the BS flag on this one.
A $1 bill is ~ 1 gram
454 grams in a pound = 454 bills per pound
114,000 / 454 = 251 pounds
He couldn't carry that into the bank.
Now students, how much would one million dollars weigh in $100 bills?

Smackledorfer: GoldDude: My bullsh*t detector is lighting up:
Canada does not have dollar bills, and hasn't since 1987. We have loonies and toonies ($1 and $2 coins).
So the smallest paper banknotes (now being phased out and replaced with polymer notes) are $5.
That would still be a fair wad of cash, but not nearly the same story.
And by the way, did he get the cash from a drug-dealer client he got off from a charge of selling crack to schoolchildren?

Same on the bullshiat detector. Also I find it hard to believe paying off his student loans all at once worked out better than spending the money in another manner. But perhaps he has so much that he holds no mortgages and maxes out all his tax-deferred retirement contributions too.

This just in: some people aren't debt slaves.

cig-mkr: Throwing the BS flag on this one.
A $1 bill is ~ 1 gram
454 grams in a pound = 454 bills per pound
114,000 / 454 = 251 pounds
He couldn't carry that into the bank.
Now students, how much would one million dollars weigh in $100 bills?

The article doesn't state he was paying in $1 bills.

Haters are gonna hate. Just because someone can afford to pay it off? Really?

Lame.

If he is American, paying off the loans totally made sense. High earners can't deduct student loan interest.

If he isn't American, how the heck was he in that much student loan debt?

/paid 14 grand in student loan interest last year and couldn't deduct a dime.
//jealous of this fictional guy

Does that receipt say he overpaid by 30 cents... or centavos or whatever they use in Canadia?

cig-mkr: Throwing the BS flag on this one.
A $1 bill is ~ 1 gram
454 grams in a pound = 454 bills per pound
114,000 / 454 = 251 pounds
He couldn't carry that into the bank.
Now students, how much would one million dollars weigh in $100 bills?

Even though he didn't actually pay in singles... let's do this for kicks.

In Canada we use a coin.

Our $1 coin is 7 grams
114,000 * 7 = 798,000 grams
798 Kg > lbs = 1 759.29 lbs

ilikestuff: If he is American, paying off the loans totally made sense. High earners can't deduct student loan interest.

Whether or not it makes sense can depend upon the interest rate of the loan.

StrangeQ: Mr Kenjeev, who works for venture capitalist firm O'Leary Ventures

I originally read that as O'Leary Vultures.

I think my version is more accurate.

Venture Capitalist Funds are not normally considered "Vulture Capitalist".

Differentiating between VC Funds and straight PE Funds is pretty simple.

rooftop235: Haters are gonna hate. Just because someone can afford to pay it off? Really?

Lame.

Reading the article is hard work.

qsblues: well played, sir ... well played

What can i say, I like to paint with a broad brush.

AcneVulgaris: Same on the bullshiat detector. Also I find it hard to believe paying off his student loans all at once worked out better than spending the money in another manner. But perhaps he has so much that he holds no mortgages and maxes out all his tax-deferred retirement contributions too.

This just in: some people aren't debt slaves.

Math is hard, but I bolded the important part for you.

Lost Thought 00: That's a prime, Grade-A dick right there. Good on him for gambling successfully, though. Hope he doesn't end up needing that liquidity once he's laid off next year.

Mugato: Yeah but you still have to spend the rest of your life being a lawyer.

He's a law school grad, not a lawyer. He made his money being a venture capitalist.

The fastest way to pay off law loans is to get out of law.

In America, this money would immediately be confiscated by the police under forfeiture laws

I thought it was funny, and he even said he did it for the lols.

/doing this is a dream of mine so I'm proud for him

The Smails Kid: AcneVulgaris: Same on the bullshiat detector. Also I find it hard to believe paying off his student loans all at once worked out better than spending the money in another manner. But perhaps he has so much that he holds no mortgages and maxes out all his tax-deferred retirement contributions too.

This just in: some people aren't debt slaves.

Math is hard, but I bolded the important part for you.

Do those yield a guaranteed 6%?

"'I was pretty naive,' Mr Kenjeev said. 'I didn't really realize how much of a hassle I'd cause for everybody. You just look at things and you figure cash is simpler than anything else.'"

And this guy wants to be a lawyer??? I hope all of his clients pay him in pennies.

flaminio: Life in Obama's Amerikka -- somebody actually pays off a loan, and it's news.

-over 9000/10

AcneVulgaris: Smackledorfer: GoldDude: My bullsh*t detector is lighting up:
Canada does not have dollar bills, and hasn't since 1987. We have loonies and toonies ($1 and $2 coins).
So the smallest paper banknotes (now being phased out and replaced with polymer notes) are $5.
That would still be a fair wad of cash, but not nearly the same story.
And by the way, did he get the cash from a drug-dealer client he got off from a charge of selling crack to schoolchildren?

Same on the bullshiat detector. Also I find it hard to believe paying off his student loans all at once worked out better than spending the money in another manner. But perhaps he has so much that he holds no mortgages and maxes out all his tax-deferred retirement contributions too.

This just in: some people aren't debt slaves.

This just in: you can have debt without being a slave, and managing your money wisely (paying off higher interest rate debt first, setting aside pre-tax retirement money if you're rich, or post tax if you are poor but on your way up, etc) is the way to go.

I really don't see how you could have possibly read my post and thought your response was relevant to a point about managing savings and current debt. For most people, immediate payoff of student loans isn't the best choice. FWIW, I agree that being a debt slave is bad, though I wager we have very different ideas of what a slave is.

joness0154: cig-mkr: Throwing the BS flag on this one.
A $1 bill is ~ 1 gram
454 grams in a pound = 454 bills per pound
114,000 / 454 = 251 pounds
He couldn't carry that into the bank.
Now students, how much would one million dollars weigh in $100 bills?

The article doesn't state he was paying in $1 bills.

Actually, the article DOES state that he "came up with the plan to withdraw the $114,000 he still owed the University of Toronto for his law degree in dollar bills"
Which no longer exist in Canada, unless you find a horde of them from pre-1987.

WhiskeySticks: I'd give him a high five for paying off his debt, no matter if it was done cash in hand or via an electronic payment.

Credit cards, loans...all that stuff is garbage and only makes you a slave to the man. Pay cash whenever possible, use debit cards, and live within your means - it makes life much easier.

I'd say the guy was a farkin' idiot for paying in cash. Security and douchebag issues aside, if he used a credit card he would have had some rewards. For example, I have an LL Bean credit card that gives me 1% back in merchandise. While my credit limit on that card is a bit less than the guy's balance, I could still pay the tuition payment to the card to make a negative balance, pay the tuition, and scoop up $1,144.60 in LL Bean credit. The same idea applies to airline miles, points, or whatever else you get for using your credit card.

/But hey, go on clapping yourself on the back for using cash just because you have no self control.

Fear the Clam: WhiskeySticks: I'd give him a high five for paying off his debt, no matter if it was done cash in hand or via an electronic payment.

Credit cards, loans...all that stuff is garbage and only makes you a slave to the man. Pay cash whenever possible, use debit cards, and live within your means - it makes life much easier.

I'd say the guy was a farkin' idiot for paying in cash. Security and douchebag issues aside, if he used a credit card he would have had some rewards. For example, I have an LL Bean credit card that gives me 1% back in merchandise. While my credit limit on that card is a bit less than the guy's balance, I could still pay the tuition payment to the card to make a negative balance, pay the tuition, and scoop up $1,144.60 in LL Bean credit. The same idea applies to airline miles, points, or whatever else you get for using your credit card.

/But hey, go on clapping yourself on the back for using cash just because you have no self control.

I do not think you can pay student loans on your credit card... at least not directly. You could probably use one of those websites that charges your card and then pays, but the service fee usually cancels out the benefits.