(Closed) Student Loans

posted 11 years ago in Money
  • poll: Student Loans?

    I'm still paying student loans

    I used to have student loans, but I paid them off just by saving money from my salary at work

    I used to have student loans, but I paid them off by a gift of money from a friend/relative

    I used to have student loans, but I got them paid off by a work or government program

    I have a bachelors or higher, but I never took any student loans because I'm awesome!

    other... and I'll explain!

  • Post # 92
    637 posts
    Busy bee
    • Wedding: May 2011

    @CorgiTales: I think what I meant is that I paid $60K in loans to get myself into a career where I made $35K my first year out of grad school (hard to live on in Boston) and have not signficantly grown in salary since then because my degree is in public service. I can understand why getting into law or med school you’d assume (perhaps incorrectly) that eventually you would make enough to pay them back, but for people like me who go into social work/public health/education or other very underpaid professions, it just makes it that much harder to get out of debt.

    (Note: I of course realize that lawyers and doctors have way more debt and don’t always make way more money..this is NO statement on other people’s choices or debt because obviously all of us, in different careers, are ALL having trouble paying them back! I just mean I personally didn’t think about my earning potential at ALL when deciding which school to go to or what profession to go into. I could have made much different choices that would make my life much easier now, but I was a very short-sighted 22 year old!)

    Post # 93
    408 posts
    Helper bee
    • Wedding: May 2012

    I am very grateful that my parents paid for my education out of their pocket.  Thankfully I have no loans, because I can’t even imagine paying the monthly payments you girls are talking about.  Advertising does not pay that well to afford $800/month in student loans!!  Although I probably would have majored in something else if I knew I would have student loans. haha!

    Fiance had his undergrad paid by his parents too, but he had to take loans for his Masters…around $27k total.  He hasn’t started paying yet, but he will have to in December.  I think it will be about $300-$350/month.  Luckily he majored in Engineering so atleast he will be able to afford that when he gets a job.

    Post # 94
    585 posts
    Busy bee

    I have about 7k in federal student loans that I have been paying on for the past 3 years. That is down from about 10k in debt. Luckily I went to a state school and only the last year and half I had to take out student loans. Otherwise I probably would have been debt free.

    Post # 95
    1132 posts
    Bumble bee
    • Wedding: October 2012

    I was lucky enough to have my parents pay for 1/3 of my school loans.

    July I finally paid my last payment. While in school I worked 2 part time jobs and saved money from that, also once I got a job every other paycheck went to school loans. It was a little tough but I was really excited to finish paying my school loans within 2 years of graduating.

    Post # 96
    1818 posts
    Buzzing bee
    • Wedding: May 2011

    thank goodness the army paid for all of my college (4+ years) otherwise id be about 60,000 in debt.  i am graduating with a bachelors in general studies this december and then december 2012 i should be graduating with a nursing degree (RN) as well!

    Post # 97
    233 posts
    Helper bee
    • Wedding: September 2011

    Under grad and Grad school? $80,000…. I’m SOOOOO fortunate that my parents and granparents help with the payments though. Interest first loan…about 6.9%… I have about 8 years left. The payments are ridiculous though. $880 a month. I wouldn’t be able to have much of a life if I had to pay that myself!

    Post # 98
    68 posts
    Worker bee

    Nice to hear we are all in this boat together… Mine will be paid off in about 3 years I’ve paid interest all along thank you bank or I’d been about 5000 worse off but still it takes forever I. Did 24 months of super payments and that’s really helped becoming a bit tighter bc of wedding but I feel better hearing all these stories what’s another 8 more months of lower payments then kick it back up post july… Sometimes I wonder if its worth it tho I still can’t say it was I just keep watching till debt to us part gale dosent approve of long long long loans lol so I’m trying to be 30 years old debt free and ready for babies hehe let me tell you I will be saving money for my kids future when I have them and wedding even if they borrow my money rather then a bank bc I don’t want them to just burn my investment until I see good results I worked harder bc it was my money with help frm my parents tho

    Post # 99
    155 posts
    Blushing bee
    • Wedding: October 2010

    I’ve been out of college for 10 years and I will finally pay mine off in December.  My last payment is due Dec 15th and I can’t wait!  My interest is very low on it, it’s like 2.5% or something.

    Post # 100
    513 posts
    Busy bee
    • Wedding: May 2011

    The Army paid for the majority of my degree; however, I still ended up with almost 30k in student loan debt (my school cost 40k a year).  It took me 2 years of putting all of my extra income towards the loan balance, but I got it paid.  

    Post # 101
    952 posts
    Busy bee
    • Wedding: September 2009

    I don’t have debt from college- tuition was paid for by scholarships and books, etc. was paid for by working an insane amount.  I have a large chunk of student loans from med school, but it isn’t as bad as it could be due to a few scholarships, living EXTREMELY cheaply, savings from working through college, and a fabulous interest rate (through various discounts and ontime payments it is 1.625%, so putting more money into other higher-interest things).

    Post # 102
    6583 posts
    Bee Keeper
    • Wedding: October 2010

    I graduated with my bachelor’s degree in 1999.  I finally paid of my student loans last month- I just got the  “your loans are paid off completely” letter this last week!  So exciting!  I never really viewed it as bad debt though because i get paid a lot more for having my degree and my payments were always reasonable to make.

    Post # 103
    8943 posts
    Buzzing Beekeeper
    • Wedding: June 2009

    I’m in grad school now and I’m lucky that I’ve never had to have student loans.  But please don’t flame me, the cost of the insurance money that paid my tuition wasn’t necessarily worth it.

    Post # 104
    113 posts
    Blushing bee
    • Wedding: December 2010

    I wish I was one of the lucky ones with no student loan debt, but I’m not. I consolidated all my loans except my private ones and pay one sum a month for private and another sum for federal. I will be glad when its done, but I have a long time to wait.

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