Post # 1
This is just a rant/vent. A vant? A rent?
I have a shitload of student loans. I know it’s my fault, and I know I have to pay them back. I have gotten a part-time job for the summer, and another part-time job starting in August, so I am set as far as that goes. It still sucks to shell out so much money, but still…light at the end of the tunnel? I thought by consolidating with direct loans, I was enrolling in a program for teachers that after 120 payments your loans are forgiven. Sounds great, right?? That’s only ten years of annoying struggle.
So I enthusiastically signed up for this program. But now I am being informed that I was never signed up for it. WHAT THE FUCKITY FUCK. So I have made like three years of payments…that don’t count. I am SO FRUSTRATED. And meanwhile the loan companies move your loans around so that one minute you’re paying with one company…and then the next you’re paying with another.
I feel like there is no winning this struggle. I should sell my eggs…over and over…to make the money to just pay them all off at once. I am so sick of feeling like crap because of money. I had a good plan and now it’s ruined.
Post # 3
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
@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
@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
@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
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
- 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
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 # 10
@love108: No, I don’t, but in classic Peachacid form, I found a solution to the problem JUST as my frustration peaked!
I was on hold as I typed the above note, REALLY frustrated. Then I spoke to a nice woman who explained that why yes I did qualify, and that yes even though my form had been lost in the process of the loans changing services they could apply my new application retroactively, and that by the way, you should apply for the Income Based Repayment plan. So I filled out all the forms, and will get one signed by my work tomorrow (where I am thankfully having a meeting anyway), and then will mail that in…AFTER MAKING A COPY lol. So now instead of having $600 loan payments that weren’t counting for anything…my loan payments will now be…only $150. I feel like it’s a trap.
Also I have been feeling guilty for an entire 30 minutes for that gif of Scully. She is that upset because she thinks Mulder has died. My feelings about student loans are NO WHERE near that upsetting. I feel like I trivialized her despair. Sorry, Scully. You know I love you.
Post # 11
@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?
Post # 12
@bellaluna290: The program in question is a public service loan forgiveness plan. If you work in a variety of public service jobs (Title 1 schools count, I think), then you qualify for this plan. You pay 120 payments, and then your loans are forgiven. Otherwise, I think it’s normal to pay about 300 payments.