(Closed) I hate student loans!!!!!! How about you?

posted 7 years ago in College
Post # 17
Member
161 posts
Blushing bee

@June232012:  I am in the same boat…right down to the degree. I have a B.S. in Biology and am looking forward to paying the loans off. However, I haven’t been hired in my field yet, so it’s going to be difficult to pay more than my minimum. Sigh. Good luck!

Post # 18
Member
9034 posts
Buzzing Beekeeper

@Eva Peron:  It is one of the things I feel sorry about for citizens of some western countries. I am forever grateful to live in a country where education is relatively cheap (subsidised) and the financial support systems are government run and not out to take advantage of people. Average university fees per year for 2012 are

BAND 1: $5868 (fields such as humanities, behavioural science, social studies, clinical psychology, foreign languages, visual and performing arts, education and nursing).
BAND 2: $8363 (fields such as mathematics, statistics, computing, built environment, health, engineering, science surveying and agriculture).
BAND 3: $9792 (fields such as law, medicine, dentistry, veterinary science, accounting, administration, economics and commerce).

Basically you take a loan from the government called HELP and then you only pay it back (threw your taxes) once you start earning over $49K and it is on a sliding scale from there (more you earn the more you pay). The good thing is that there is no interest but it is indexed each year to reflect changes in the CPI. there are also discounts for paying upfront or for paying more than required. It is a great system.

I was able to pay back my university costs within 2 years of completing my degree.

Post # 19
Member
116 posts
Blushing bee
  • Wedding: June 2013

I was lucky to not have any debt from undergrad.  However, after school is all said and done, I’ll have over $250,000 in student loans.  ARRRRGG!!  Sorry I don’t have any advice, I just wanted to vent and share my hatred for student loans with you!

Post # 20
Member
488 posts
Helper bee
  • Wedding: November 2012

I just now took more loans out and so did my Fiance to finish our Bachelor degrees.  We have both just come to the conclusion that unless the government starts a loan forgiveness program, we will pay these loans until we die.  

Is it worth it?  Honestly I don’t know.  With my work experience I am pretty sure i could have gone down the same career path if I didn’t have a degree… Sigh.  

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