(Closed) I HATE DEBT!!!

posted 5 years ago in Money
Post # 3
4439 posts
Honey bee
  • Wedding: January 2013 - Harbourfront Grand Hall

@Kate0558:  BRAVO!  That last paragraph makes me smile 🙂

I’m paying my way through school right now and it’s taking longer than your average student but guess what – when I graduate I’m FREEE!!!!

Darling Husband and I are paying off our mortgage in 14 years and we both drive old (read: paid off) cars!  Life is so much better!  I’m debt-phobic.

Post # 4
3671 posts
Sugar bee
  • Wedding: October 2013

@Kate0558:  *GULP* I am in my second year of community college and university prices definitely scare the crap out of me but 100k in student loans?! Man, I am so sorry! We have two new cars that we will be paying off in like four years and no debt besides that…I just can’t even imagine! I am planning on pating my way through college just like I am doing now and thanks to the military we won’t be purchasing a home for a while….We are still really young though so it scares me to think that it will all change! 


Post # 5
2808 posts
Sugar bee
  • Wedding: September 2014

@Payless:  i went to college for 3 years, lived in student housing, and have $59,000 in debt. $100,000 is typical, especially for private universities.

@Kate0558:  sadly, you do need to go to college. most jobs, at least around here, require a degree of some sort. even for a job as a receptionist (which makes no damn sense to me). just pay it off, deal with it, and think that eventually, it’ll all be paid off. someday. it took my mother 15 years to pay off her first set of student loans.

Post # 7
9887 posts
Buzzing Beekeeper
  • Wedding: September 2012

@Kate0558:  I used to feel that way about debt.  I’ve made peace with it now because it just happens in life sometimes.  Make a plan, do the best you can and enjoy your life in spite of it.  The debt serves the purpose of getting you what you want.  I know everyone always says how evil it is, and I agree, but I also feel it’s part of how things are for most people these days and I choose to no longer be stressed out about it. 

We’re building a house right now (supposed to close next week) and our mortgage payment will almost quadruple from our old one.  Yes, you read that right, quadruple.  I’m terrified!  But my husband assures me all will be well.  Our credit scores are both excellent, we have plenty in savings, we’ve sold our old house.  And my car is paid off.  We have a debt payment plan.  It’s scary as hell but in the long run it will be worth it.  I try not to think about it too much, lol.

Post # 8
3276 posts
Sugar bee
  • Wedding: June 2014

I am soo scared to take out student loans for grad school (only 20K but still that’s crazy!!) I think we’re going to try to pay the first year in cash then maybe get a loan if it’s the last resort! We have about 80K left on our house ($500 a month w/ insurance, taxes, interest), and 10K on FI’s new truck ($300 a month). I can’t wait to be done with all of it!

Post # 9
986 posts
Busy bee
  • Wedding: June 2013

I had about 80k in student loans. I’m down to 68k now. Yay.

Post # 10
5956 posts
Bee Keeper
  • Wedding: April 2018

@Kate0558:  …yikes!  I’m sorry its making you nuts, but at least you’re taking a look at it, at least you’re going to deal with it…a lot of people just float along, accruing more and more debt and by the time their kids are ready for college, they’re drowning, so helping them get a higher education is out of the question and once again, the student loan cycle starts anew.

I was really, really fortunate, and did not have to take on debt to graduate, I did not realize what a gift it was until I was much older, and seeing friends struggle, fight, live beyond modest expectations and in some cases, take on even more debt to return to college in hopes of getting into a career…well, it just breaks my heart…so we invite them over a lot, stuff them to the gills, send them with leftovers and bottles of wine and tell them to come back soon!

Post # 11
12247 posts
Sugar Beekeeper
  • Wedding: May 2013

I went to a public, out-of-state university for ONE YEAR and left with 20K in loans!

Now I go through an accredited online college that’s pay-as-you-go, and only $1200/semester.

I can’t imagine the drowning feeling I’d have if I’d amassed 80K in student loans!

Post # 12
241 posts
Helper bee

You really don’t need to go to college. Most vocational training is much less expensive and you make just as much if not more than someone with a college degree. You were lied to by anyone that told you you HAD to go to college in order to make a good living. I won’t even go into the opportunity cost aspect as well.

Post # 13
851 posts
Busy bee

Even if you go to a public university, with in state tuition, and live in crappy student housing with roommates. You can still end up $40,000 in debt for four years like me. The vast majority of my student loans are private so my minimum payment per month is about $500. The fact that I could by a brand new iPad every month OR pay student loans blows my mind. I’ve been out of school for 3 years (4 years in May) and I JUST hit the amount I originally took out. I’ve been paying down interest for 4 years. 

We live the rest of our life very fiscally responsible. We have a car that we share and a scooter that gets 100 miles to the gallon and goes 55 mph. We’re saving for a house. We have no other debt. And I know, like you said, there are so many people who have 4-5 times the debt I have. Student loan debt is horrifying. 

Post # 15
2946 posts
Sugar bee
  • Wedding: May 2014

You couldn’t get my job without going to college, nor my FI’s job.  While we both cringe at our student loan payments, we look at the jobs and the hard times our friends who did not go to school have, and look at our education as an investment.  Even if you get a decent job like one friend, you hit the top of what you can do without a degree pretty fast and hard in our area. 

Post # 16
2890 posts
Sugar bee

@Kate0558:  Well, if I did not go to college, I would be at minimum wage all my life and that’s not what I wanted. The downside is that I’ll have to carry around 18K of debts total after I’m done. Why so ”low”, because I pay between 300 and 500$ each month to get rid of it already, even though I’m still a student. 2 years ago, I was at 26K worth of debts. And I don’t know what it was before, when doing my bachelor ; I don’t want to know ! I preferred to have less savings, but less debts. Now I’m trying to find a better balance because I also need savings, but it’s hard. I live frugally, my car is pre-owned. I live paycheck to paycheck, but it’s a little victory every time I see 1K less on my total debt.

Fiance will also gather debts because he went back to college to get a better job. But once he’s done, his income will easily be 5 times what he earned when he met me. He’ll have more debts than I do, but hopefully we both our incomes we’ll pay both our debts as soon as possible. Our goal is not to spend 10 years paying them off so we’re sacrificing a lot to achieve this goal. I’m saying 10 years because it’s the maximum to pay off the government’s loans. o_O

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