(Closed) Student loans!

posted 9 years ago in Money
Post # 62
Member
2214 posts
Buzzing bee

I’m in debt $180k for private undergrad and state law school. I graduate in May, and luckily I do have a federal clerkship lined up, which is great for my resume, not so much for my bank account.  But after the clerkship, I should be moving on to a much higher paying job. I anticipate being on a 20-30 year plan, but it really depends on the job after my clerkship and when I get married. I would love to use my income to dedicate solely to my loans, but I won’t feel comfortable doing that until I’m married.  SO is in law school too, but his parents are paying for it, and they also paid for his undergrad.

Post # 63
Member
2739 posts
Sugar bee

Anytime these posts come up, I bang my head against the table wishing I could go back to my 20 year old self and scream at her DON’T.GO.TO.A.PRIVATE.LAW.SCHOOL!! Law school was worth it, trust me, but I wish I had gone to a state school. I graduated with over 115k in debt from lawschool and that was a while ago. No debt from undergrad. I’m down to about 55k now but at my age, I have no car, no home etc (of course I live in NYC where that is almost impossible to get) but if I had gone to a state school, I’d have been done with my payments a while back 🙁 When I see how much I’ve paid back and how much went to interest, I cringe. Remember, just because it’s down to 55k doesn’t mean that it’s 70k I paid. I paid MUCH.MORE.THAN.THAT. Interest rates are low now but back when I was in school and a while after, interest rates were from 5% – 9% and I had good credit!! My poor Fiance has to put up with me and my other law school friends bitching about school loans. It’s our favorite past time. Oh, and it doesn’t help that I have a shitty job, with shitty pay. Oh, my 20 year old self. Um, sorry for the rant/pity party 🙁

Post # 64
Member
333 posts
Helper bee
  • Wedding: June 2010

I have just over $10k from BS at a state school.  I attend a private school and will graduate with no additional debt for my MS/PhD.  

Post # 65
Member
5976 posts
Bee Keeper

I started with $20K, and I’m down to $5K now! So excited! My husband also started off with around $20K, but he didn’t consolidate immediately, so his interest rates went up, and he now owes $7K even though we got out of school at the same time and have been making the same payments. So…we’re working on it, but both were very worth it!

Post # 66
Member
1941 posts
Buzzing bee
  • Wedding: June 2009

I had about 17K and we paid them off in about 1 1/2 years. Such a freaking releif! Darling Husband had none…he worked and paid his way through 2 schools and the police academy. Going back to further my nursing degree and will be paying cash. Will never take out a student loan again.

Post # 67
Member
3010 posts
Sugar bee
  • Wedding: October 2012

Wow.  Fortunately for me, it’s only about 6K.

Post # 68
Member
256 posts
Helper bee
  • Wedding: July 2011

Close to 60,000 for my BS and MA. I will be paying them off forever.

Post # 69
Member
3182 posts
Sugar bee
  • Wedding: May 2012

By the time I finish with law school I’ll owe about $50,000, I didn’t have to take any out for undergrad. Compared to some others posters on here, not too bad! Still kind of depressing though when there’s no guarantee I’ll even have a decent job. 

Post # 70
Member
199 posts
Blushing bee
  • Wedding: September 2011

I had 40k and am now down to 22k for a BA and MA (completed in 2007). I think it will take another 4 years to pay it all off!

Post # 71
Member
464 posts
Helper bee
  • Wedding: October 2010

I’m up to about $70k for my BS, MS and a part of my doctorate (I’m still in school). I’m lucky, my Darling Husband is graduating from his Ph.D. with no debt (he had full scholarships for all of his degrees). Our plan when we graduate is to use most of my income to pay off my loans, until they’re gone. We’re used to living cheaply, and that will still put us at more money than we have now, so I think we’ll be alright. It does get me down from time to time, though.

Post # 72
Member
44 posts
Newbee
  • Wedding: June 2011

I graduated with my BA with about $15k, which I paid down to $13k before I went to grad school. When I graduate with my MS in December, I’ll owe about another $15k from grad school, so $28k total. I got scholarships and worked through both of my degrees but couldn’t pay for everything without taking a lot longer to graduate. Luckily I’m going into a field with good prospects and good salaries so I should be fine paying it back. My loans are federal so the interest rates are low. I’ll make 10k more at my new job in the first year than I was making at my old job, so the extra debt seemed worth it. I paid off all my credit card debt before grad school and my car will be paid off around the same time as graduation so the student loans will be the only debt I have. My FH is debt free so I don’t think 28k between the 2 of us is too bad.

Post # 73
Member
6392 posts
Bee Keeper
  • Wedding: September 2011

I’m at $16,000. God, that number is so big and scary looking! I pay off about $250 each month, but hopefully once I get a better job I’ll be able to pay it off faster. At the rate I’m going, it would take five and a half years.

Post # 74
Member
2870 posts
Sugar bee
  • Wedding: March 2011

tooo friggin much! I think it is around 23k right now.

I got my tax forms yesterday and i paid out over 2500 in interest last year. 🙁

Post # 75
Member
141 posts
Blushing bee
  • Wedding: April 2011

Right now I’m at 24,000$, which I have on unemployment deferment because I can’t find a job with my useless History B.A.. I’m debating going to grad school to get my MLS, but FH will only let me go if I don’t get loans, which I think is reasonable. I’m hoping my pathetically underemployed butt will get some grants. What really gets me is the parents promised to help me out…and dad is thinking about buying a boat instead! Wtf!

Post # 76
Member
7682 posts
Bumble Beekeeper

$50,000 for me -didn’t get to finish MA, now unemployed, husband is paying them off-I don’t want to even know the balance-and I’m 50 y.o. -Yeah, no fun

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