(Closed) How much do you have in school loans?

posted 7 years ago in Money
  • poll: How much money do you have in school loans?
    Less than $5,000 : (50 votes)
    17 %
    $5,000-$10,000 : (21 votes)
    7 %
    $10,001-$15,000 : (22 votes)
    8 %
    $15,001-$20,000 : (27 votes)
    9 %
    $20,001-$25,000 : (27 votes)
    9 %
    $25,001-$35,000 : (32 votes)
    11 %
    $35,001-$50,000 : (31 votes)
    11 %
    $50,000-$75000 : (34 votes)
    12 %
    More than $75,000 : (49 votes)
    17 %
  • Post # 3
    Member
    14496 posts
    Honey Beekeeper
    • Wedding: June 2011

    I have a engineering degree from a private school, but no loans.  If I had to take out loans, would it be worth it??   Umm, the degree yes, the the school…. HELL NO!  Public school would have suffice. I work with people now with all sorts of backgrounds, from state school to MIT, and we probably make about the same, or at least not enough difference to justify the tuitions.  If I had known this years ago when picking schools, I would have gone public route too. 

    Edit: I’m also really lucky that my employer paid for my graduate degree.

    Post # 4
    Member
    5890 posts
    Bee Keeper
    • Wedding: May 2012

    I am incredibly fortunate to have no student loans from my undergraduate degree.  I would love to get a graduate degree, but this is the one thing holding me back. 

    Post # 5
    Member
    2299 posts
    Buzzing bee
    • Wedding: June 2010

    I’m not going to college, but I’ll answe for my husband. He’s a senior this year and getting his bachelor’s and going on to his PhD and so far he has $15K. Which is pretty awesome since all his friends and my sister has $30K after 4 years. Oh, he’s majoring in structural/ civil engineering and going to the…3rd (i think) best tech school in america. So it’s very worth it for us.

    Post # 6
    Member
    1326 posts
    Bumble bee
    • Wedding: October 2011 - Tre Bella, Mesa, AZ

    Worth it is relative. πŸ™‚ I paid for my undergrad as I was going to school (and busted my ass to do so) – that was worth it. Now I’m doing my masters and will take out around $60k after all is said and done (currently I’m around $8k). In my field, more education does not a raise or promotion make. πŸ™‚ Worth it for me because I’ve always wanted a masters, and I would like the option to be able to teach at the university level when I’m older.

    ETA: I’ve budgeted for the loans, and I’m paying them down as I’m attending school. I also love the university I chose.

    Post # 7
    Member
    5993 posts
    Bee Keeper
    • Wedding: May 2010

    my employer paid for my last degree (part time while working) and in exchange i also got 3yrs of guaranteed employment at $80+K plus bonuses per year so win win for me

    in australia, if you dont want to/cant afford to prepay your degree, we have something called HECS which means once you earn over $45K you start paying a small percentage (4%) of your gross income to repay your university fees, the more you earn the higher the % – max is 8% per year

    Post # 8
    Member
    963 posts
    Busy bee
    • Wedding: April 2011

    I have over $50,000 (and actually had over $75.000, but have paid a lot down).  I have a J.D.  It was worth it, even though I don’t practice or make a ton of money, but it’s still like having a mortgage on a little piece of paper.  Oh well, at least the debt dies with me if I die before it’s paid off.

    Post # 9
    Member
    1074 posts
    Bumble bee
    • Wedding: May 2009

    I’ll admit it… i’m in the last category, >75000 for a bachelors, masters and doctorate. Worth it? not sure yet. 

    Post # 10
    Member
    7431 posts
    Busy Beekeeper
    • Wedding: October 2009

    I have an associates and bachelors, with just under $20k in loans.  Most are subsidized, so I only have to pay face value.  Was it worth it? I thought it would be, but if I stay in the profession I’m in (which I plan to) it wouldn’t have made a bit of difference

    Post # 11
    Member
    5110 posts
    Bee Keeper
    • Wedding: November 2011

    I have about 17000 in loans I am paying on right now. It blows lol 

    Post # 12
    Member
    245 posts
    Helper bee
    • Wedding: March 2012

    Ha I know I am going to win this one. By the time I finish Medical School (2 years left) I will owe $250,000! It kind of makes me want to vomit so I try not to think about it. At least I’ll have job security, though. And yes, my fiance is aware hehe.

    Post # 13
    Member
    118 posts
    Blushing bee
    • Wedding: November 2011

    I was lucky enough to only have to take loans out my last year of graduate school. Was it worth it? Well I got a Masters in Social Work … so money wise no. But I will have more opportunities in my career with a masters and I’m proud to have earned my degree. It’s still annoying to have friends that took out as much as me and got different degrees (even just bachelors) and make more than me. 

    Post # 14
    Member
    1326 posts
    Bumble bee
    • Wedding: October 2011 - Tre Bella, Mesa, AZ

    @mblab: Tell me about it. My bro is on track for 6 figures, and he’s got his bachelors from University of Phx and less experience in his field than I have in mine. Oh well. I guess if I was in it for the money, I would have done something other than design. πŸ™

    Post # 15
    Member
    118 posts
    Blushing bee
    • Wedding: November 2011

    @bellagio: I know! It’s easy to say we’re not in our field for the money because it’s the truth. But it doesn’t make me happy when everyone seems to makes more than me. Many deserving fields are greatly underpaid, but for instance a starting salary for a teacher here is more than what I make with my masters as a social worker. (And I have a better paying than most social work position.)

    Post # 16
    Member
    389 posts
    Helper bee
    • Wedding: April 2010

    I had $10K when I graduated. 3 years later and it’s under $7K. We haven’t prioritized paying it down beyond the minimum payment each month because it’s “good debt” and we’re working on saving up in other areas.

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