3..2..1.. VENTING

posted 2 years ago in The Lounge
Post # 2
Member
2551 posts
Sugar bee
  • Wedding: September 2015

I’m in the same position. I’m in grad school, and they’re deferred, but they will still ruin an entire day for me… worse than anything could. My SO isn’t in student debt, so he’s encouraging, but just doesn’t completely understand. 

Post # 3
Member
312 posts
Helper bee
  • Wedding: November 2015

Girl preach. I JUST paid one off, and 1 to go. Plus my FI’s once he is done next year. I didnt even FINISH!

School loans can die a fiery death!

Post # 4
Hostess
9837 posts
Buzzing Beekeeper
  • Wedding: May 2014

FutureMrsK2014:  I understand.  I had none my first degree (my parents were very generous).  DH graduated owing over 50k, I resented them A LOT.  I now have my own loans, although much smaller, they’re still a pain.  Between us we pay almost $700 a month to student debt.  BUT there’s a light at the end of the tunnel.  DH’s are almost done and then we can attack the rest of mine. 

They suck, but without them we wouldn’t have our fancy pieces of paper 😀

Post # 6
Member
2762 posts
Sugar bee
  • Wedding: May 2014

We pay $2014.09 in student loans every month.  Most of this is due to my DH taking defferment and “income based repayment” for the first three years of one of his loans, which tacked on almost $10,000 more of interest on these loans, which turned his orginal $800 a month payment a $1600 a month payment.  It makes me sick too.  Income based repayment is a JOKE.  It’s worse than negative amortization on a mortgage in my opinion.  It was a bandaid on the payment, and once we got married and added my income, he didn’t qualify anymore, and we are stuck with a much higher payment.  While we can afford it, our emergency fund savings has taken a major hit from two huge home repairs, and we are just sitting back and praying that nothing else happens soon. 

Post # 7
Member
3526 posts
Sugar bee
  • Wedding: September 2013

Misswhowedding:  I was gonna complain about having $8k left to pay on my student loans, but Holy Friggin Crap girl!  Our mortgage, car insurance, lights and cable don’t even add up to that much.  I agree though, income based repayment is a joke. 

Post # 8
Member
2428 posts
Buzzing bee
  • Wedding: May 2014

Sorry girl!

Post # 10
Member
3377 posts
Sugar bee
  • Wedding: December 2014

FutureMrsK2014:  I hear you. Still in grad school with over $50k deferred. The thought of having to pay them back stresses me out constantly. My car has like a 1% interest rate, why does my education have to have a 6.8% interest rate?!

Post # 11
Member
3526 posts
Sugar bee
  • Wedding: September 2013

FutureMrsK2014:  I am very thankful! I actually had about $13K total because I only took out a loan for my last year of school.  I was very fortunate to have a scholarship, and qualify for pell grants before that. 

Post # 12
Member
587 posts
Busy bee
  • Wedding: February 2016

My SO and I are way over burdened with student loans, him more so than I. Combined our payments are almost $2000! Although I’m making the highest payments I can on mine to get them paid off ASAP. Nonetheless, it’s really tough. Our field disappeared after the recession and now we’re both working in other fields and our degrees are somewhat useless. Guess we’re in good company though! And we have our health….I try to look on the bright side 

Post # 13
Member
2455 posts
Buzzing bee

FutureMrsK2014:  Ugh I have chase too. It’s such a pain to pay so much per month just to see it go down by only like $5…

Post # 14
Member
300 posts
Helper bee
  • Wedding: April 2016

I am so sorry. I used to be a Financial Advisor at a college and it was the worst job ever. I always fully warned my students about the dangers of taking overage checks, how long and how much it will take to pay off, etc… But many advisors did not do that so that they could keep students. Unfortunately colleges are a business and really don’t care what happens to you, even if they pretend like they do.

If anyone is thinking of going to college, PLEASE PLEASE PLEASE go to Community college first. You will save SO MUCH MONEY and live such a happier life in the future because of it. Don’t spend tens of thousands of dollars just to have the “college experience.” It’s not even close to worth it. 

Post # 15
Member
300 posts
Helper bee
  • Wedding: April 2016

SithLady:  It’s a high interest rate because the Government is giving out money that they don’t have, and people aren’t paying it back. So the people that are, are paying a whole lot more to make up for it. It’s so stupid, I know.

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