The idea is two individuals will start up a "mutally beneficial relationship", with the sugar daddy providing an allowance for his sugar baby.
And in return?
There have understandably been concerns the site is merely advocating prostitution, while SeekingArrangement states it provides a service for individuals to find "love, companionship, friendship or some financial help".
The US site, established in 2005, continues:
"Who is to say what is 'right' or 'wrong'? In the past, Kings, Shahs and Emperors have had multiple lovers or concubines. In many cultures, liaisons between the wealthy, generous and the beautiful were even considered an art form. The French had courtesans. The Japanese had geishas. And in today’s society, we now have sugar babies."D - perhaps this is what some mean by 'acceptable side effects' of high tuition?
http://www.goldengirlfinance.ca/articles/post-secondary-debt-breaking-down-your-government-student-loan-without-causing-a-breakdown
D - nice summary of how to handle your student loan upon graduation (or dropping out). One more thing - fill out all those forms on time, use up ALL your extended interest relief - it is the key to using other perks mid-way through your repayment time.
"The standard payback period issued is 9.5 years, but you are eligible for a maximum of 14.5 years if you are having trouble making payments."
D - let's face it, you are graduating around age 22 or so. The key times are:
1) special circumstances: default in 5 years (age 27)
2) standard default in 7 years (age 29)
3) standard repayment term 10 years (age 32)
4) extended repayment in 15 (age THIRTY SEVEN!)
If you belly-up at age 29, you are clear of that bankruptcy in your credit history in 7 more years, which would be age 36 - 1 year before the 15-year repayment scheme.
Seriously, if you cannot pay it back in 10, that is a sign: you are in over your head. So then switch to the 15 year repayment scheme simply to hedge for time for option 2).
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"Ignore it, and it will go away"... NOT.
D - a bud of mine has been on the dole for ten years. He uses his food bonus (he has a medical condition) to subsidize his hobbies, thereby damaging his health even more. He owes a student loan. It likely has nearly doubled in size since he went on welfare.
During that time, he has NEVER went to a free credit consultation. I'm sure he'd pay almost nothing to go bankrupt. But this way, he always has his student loan as an excuse for why work does not make sense for him. He's really annoying us.
D - another bud of mine was injured at work, then developed mental problems due to being unable to work. This month is the 5-year mark for being out of school. Due to her exceptional circumstances, she too qualifies for a nearly-free welfare bankruptcy on her student loan. At the 6 year mark, she could start to rebuild her credit, if her mental problems are receptive to treatment. Guess who is NOT even getting a free credit consultation, as per the former bud? You guess it.
Ignore your student loan, and it does NOT go away. It gets bigger, and provides a handy excuse why entry level work does not make sense for you. But that is a self- fulfilling prophecy. If you cannot pay your loan, then you should kick it to get on with your life. There is life after bankruptcy. There is much less of 1 if you hide on the dole, then become a welfare 'lifer' - all because you still owe a student loan you cannot pay.
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