Post # 1
We got my DH’s student loan statement in the mail today. He owes a sizable amount but the US Military is supposed to repay 86% of that amount once some funds are unfrozen… but for now, they’re frozen, and we have to keep a handle on the interest from that 86%, which is totally lame. I’m not too worried about us repaying everything, but it does feel a little overwhelming. Once I finish school in a year, we’ll have to start repaying on my loans as well (hopefully the military will get their act together by then), and then Darling Husband will be in grad school, but that will be paid for up front, so it won’t add to our loan debt. We don’t have any significant credit card debt (<$500) and nothing from the wedding or anything, so student loans is all we have to worry about at this point. Anyone else feel overwhelmed by it all? My brother is a math whiz and helps us figure out everything, but still… can’t wait to be done with it.
Post # 3
@confettiegg2000: There was no option for “just him.” Just him is currently about 70k including all accrued interest at the moment. but we consider it “ours.”
Post # 4
I just don’t worry any more. UK student loans are taken out on the premise that you don’t have to repay them if you earn under 21K a year. It looks like I will possibly never earn more than that within the 25 year repayment period, so I’m not sure what I’ll have to pay back… if anything.
Post # 5
@love108: Ah! There would be so many options! But I figure, it’s either an individual repaying (usually) her own loans (“just me”), or a presently or soon-to-be married couple with an “ours” mentality (me+SO).
Post # 6
Yeah… I owe around $75k in student loans. I’ll be paying them off for the next 15+ years. I pay around $800/month, sometimes $950. Sucks, but not much I can do about it. Good thing I have a good job, otherwise we’d be screwed.
Post # 7
He has 14k and I don’t have any. Graduating soon enough and don’t expect to get any more… fingers crossed!
Post # 8
We are lucky. We owe $0 due to scholarships, grants, only taking out $2k, and living very frugally in college for me and a college fund from his grandfather and living very frugally for Darling Husband. We are playing off credit card debt with our wedding money and we currently only have to pay on DH’s car (290/month). We don’t have a mortgage though and don’t plan on buying a house soon only because we’re not sure if we’ll stay in this area for a long time.
Post # 9
I started with $30K (although I’m hoping by now it’s getting closer to 20K- and in all fairness about $10K of that is my mom’s PLUS loan which I agreed to pay for her after graduation). He is now at the same amount he started with 15 + years ago at $30K as well. We both went to private liberal arts schools despite both being eligible for the Hope scholarship that would have paid 100% of our tution at a state school. I loved my school but I really consider that a horrible decision. He floated around for a quite a while and let his loans go into default for years before we even met. He’s been getting them back in order & is now out of default but all the collection & interest fees racked up the whole time he was MIA doubled his loans back to their original amount instead of the half amount he got it down to before his 5 year default.
Post # 10
None! I paid his off when he finished his 2nd degree. He paid of his first set between his first and second degrees. I never had student loans.
Post # 11
Me + Darling Husband currently have about 14k in student loans. We pay $350/month for both. I had a lot more but paid most of it down before we were married, and we have used this last year to save for a new home. So after we close next month, it will be back to chipping away at that last bit!
Post # 12
We each owe about 20k, which is pretty decent because he did a 5 year program and I’m graduating with my JD on Saturday (wo-ho!)
Post # 13
Thankfully, we have ZERO student loan debt!
I took out $20k between my undergrad and grad and paid them all off last year right before I got my Master’s.
H had many scholarships (smarty pants) and his parents helped with a little, so he never took out loans. He has a PhD.
This will make everyone feel better: my sister and her H have $300k between the both of them just from school.
Post # 14
Nothing (my PhD was fully funded) until my Fiance hopefully goes back for his MBA next year. Then we’re looking at $100K, but we can probably pay $40K of it. Still, ouch….
Post # 16
I owe nothing because I got a full tuition scholarship and I get Pell grants to cover everything else. That 4.0 GPA in high school paid off!
My Fiance took out about $18,000USD, I think? Yeah, I think around £12,000 is what he initially took out over the course of uni. I don’t know how much he’s paid off. He hasn’t paid off much, but he doesn’t seem worried at all about it because he seems to think it’s normal to pay it off over the course of 20+ years even though he could pay it all down now. Maybe that’s the way they do it in England! I’d rather he just get rid of it.
Other than that, we have no other debt thankfully.