I really hate government loans. UGH STUDENT LOANS.

posted 3 years ago in Legal
Post # 3
Member
190 posts
Blushing bee

No advice, but I hear you! I was in school for so long that I took out some of the loans so long ago that they went into repayment already with no post-graduation grace period. I’m working part-time in retail because I don’t have a job in my field yet. It sucks because I can’t afford to pay my loans and bills right now. I even had to get food stamps.

I hate loans, but they were the only way I could pay for school so I’ve just accepted that I’ll be stuck paying them back for endless years.

 

Post # 4
Member
1093 posts
Bumble bee
  • Wedding: May 2014

@peachacid:  I’m not sure why you thought that by consilidating your loans you were enrolling in the 120 payment loan program? If everyone that consolidated their loans only had to make 120 pyaments, the student loan bubble wouldn’t be as huge as it is.

You have to actually get a job at a place that qualifies for this specific program. I looked into doing this (I have an MA in counseling) and the programs offer few openings a year and are usually very low SES or are in very rural areas.

Post # 5
Member
10384 posts
Sugar Beekeeper
  • Wedding: September 2010

@bellaluna290:  That’s actually not true. My cousin is in a 120 payment program and is a teacher in San Diego CA in a good school district, making pretty decent money (for a teacher).

OP – that sucks so much! Hope you get it straightened out!

Post # 6
Member
1722 posts
Bumble bee
  • Wedding: June 2014

@peachacid:  I just graduated (BS Elem. ED) with a boatload of student loans and I’m SO confused about the repayment/consolidation/forgiveness options. I feel especially bad cuz I typically pride myself on being financially savvy. It isn’t supposed to be this confusing, right?

Post # 7
Member
3978 posts
Honey bee
  • Wedding: September 2014

Everyone is in a 120 payment program, but NOT EVERYONE has the remaining debt erased after 10 years (120 payments). Do you have any records that say you signed up for this program? 

Post # 8
Member
442 posts
Helper bee
  • Wedding: October 2014 - Ranch

I feel you 100% on this. Our wedding is actually on hold at the moment until we arrange our finances better due to my student loan. I had a mini breakdown this morning because I did not see the light at the end of the tunnel. I spoke to my FI and we came up with a plan and I feel a lot better. Like the rest of you, I have just accepted that I took out the loan and now I will pay it.  I hate debt. I will save money like a crazy woman for my children to go to school because I don’t want them to end up like me.

Post # 9
Member
1397 posts
Bumble bee
  • Wedding: September 2013

I hate my loans, but the plus side is that my government loans are a heck of alot cheaper than my private loans I had to also take out for school.

Post # 11
Member
1093 posts
Bumble bee
  • Wedding: May 2014

@crayfish:  Good for her! I wonder if the availabilty of positions is career dependent? Maybe it was just the jobs in the counseling/social work field?

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