(Closed) What percentage of your income goes to Student Loans?

posted 7 years ago in Money
  • poll: What % of your AFTER TAX income goes to paying student loans?
    I never took loans or paid them off already. I am awesomer than you. : (16 votes)
    23 %
    >5% : (10 votes)
    14 %
    5-9.99% : (6 votes)
    9 %
    10-14.99% : (9 votes)
    13 %
    15-19.99% : (3 votes)
    4 %
    20-24.99% : (8 votes)
    12 %
    25-29.99% : (3 votes)
    4 %
    30-34.99% : (3 votes)
    4 %
    35-39.99% : (0 votes)
  • Post # 3
    Member
    693 posts
    Busy bee
    • Wedding: July 2011

    Wow, that is quite a lot.  My parents did well paying for my undergrad, I ended with about $17,000 in loans.  I was lucky enough to a) have a super low interest rate (graduated in 2005) and b) get a good paying job.  So, it works to be about 2% of my current income.  Also, I paid my way through grad school, so I didn’t add to the balance.  FI has no loans. 

    Post # 4
    Member
    181 posts
    Blushing bee
    • Wedding: July 2011

    I voted 50% or more (actually 60% of our combined salary!) but that’s a conscious decision to pay them off as quickly as possible. At this rate we should have paid it off within 6 months. I didn’t have any loans but FI does and we’re really trying to take care of them quickly!

    Post # 5
    Member
    73 posts
    Worker bee
    • Wedding: July 2011

    I pay about a third of my salary to student loans. 

    I would have so much fun spending money if it weren’t for those damn loans….

    But I must say – I went to a very small private college, loved every minute,  and met some of my dearest friends there.  The number of wonderful, beautiful things that were set into motion because I chose that school cannot be overlooked!  My brother never would have met his wife, I wouldn’t have my beautiful niece, my best friend wouldn’t have met her husband, I wouldn’t have met FI, etc.

     

    Post # 6
    Member
    7296 posts
    Busy Beekeeper

    my husband and i will start paying loans next year for him and the year after for me, so i am interested in the outcome of this poll…..(and i love saying “my husband”  tee hee)

    Post # 7
    Member
    2702 posts
    Sugar bee
    • Wedding: November 2011

    20% of my salary goes toward my student loans. It sucks. I should have my loans paid off in about 7 years.

    Post # 8
    Member
    5148 posts
    Bee Keeper
    • Wedding: June 2011

    About 9% of my take-home pay goes to student loans.

    Post # 9
    Member
    236 posts
    Helper bee
    • Wedding: May 2012

    I think I will offer the government my first born son to get out of my student loans

    Post # 10
    Member
    3375 posts
    Sugar bee
    • Wedding: October 2011

    hmm I never thought of it that way!

    About 18% of FI’s salary alone pays on his student loans or 10% of our combined salary pays his loans.

    I don’t have any loans, but FI had over 70k and currently has about 50k (I saw it in his credit score profile).

    Currently we’re only paying the minimum because his work is covering the student loans fully right now. We paid off about 20k a couple of years ago. But now if we paid off more of the balance, his work would pay less to us for repayment (they repay based on how much we owe). Once his work decides not to pay any more we’ll hopefully pay them off ASAP.

    Post # 11
    Member
    312 posts
    Helper bee
    • Wedding: September 2013

    Hit the wrong button.  I pay 75% of my freaking income.  It SUCKS!  But FI doesn’t have any student loans so he have his income to help us get by.

    Post # 12
    Member
    729 posts
    Busy bee
    • Wedding: January 2012

    Right now 0. I have a little less than 50k. I was working and paying on them well, like way more than was due a month and paid down a good bit. I decided to go back to school (I’m not taking out loans) and live off savings and put them in defferment.

    So I will be in shock when I have to pay them back in June I’m sure.

    Post # 13
    Member
    3978 posts
    Honey bee
    • Wedding: May 2011

    Nothing right now. I pay in chunks when I get money and then don’t pay for months at a time (mine is set up so that doesn’t cause issues). Not sure if that’s the best way to go about things but whatever. Works for me.

    Post # 14
    Member
    2538 posts
    Sugar bee
    • Wedding: July 2010

    Mine is about 20%. Luckily, my husband paid his off before he got laid off last year. Now, we have several more years of this before mine are gone.

    Post # 15
    Member
    1761 posts
    Buzzing bee

    Mine is about 25% right now, and I’m on a 30-year plan. Eek. Damn you grad school! I am hoping to get the federal loan forgiveness thing in about eight years though, so I pay the minimum amount.

    Post # 16
    Member
    1664 posts
    Bumble bee
    • Wedding: August 2012

    about 15% right now.. I’d like it to be more at some point after the wedding is over. Right now I have so much coming off my cheque/month for student loans, and so much coming off for the wedding. I will be glad when it’s only student loans.

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