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For those of you with student loans...

Posted by on Jul. 10, 2012 at 2:49 PM
  • 61 Replies
I currently have about $100,000 in student loans ( federal and private). Do you have any student loans? How much do you pay monthly and how does it impact your budget (affordable or makes you broke)? Sometimes I regret going to school and getting into debt (finished 5 yrs ago and I've been paying since). Anyone else in the same situation? How do you manage?
Note: I also posted this in family piggy bank.
by on Jul. 10, 2012 at 2:49 PM
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Replies (1-10):
jac77
by on Jul. 10, 2012 at 2:51 PM
3 moms liked this
Mine is only 13,000 but, it still sucks. Since my degree has been useless to me thus far, I hate to pay it.
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MrsImperfect
by Bronze Member on Jul. 10, 2012 at 2:52 PM
1 mom liked this
My hubby had two. One is paid off the other is in deferment until Oct. Both about $20,000. Only $17,000 left on the one. Payments are thru Sallie mae and pretty cheap. Based off of income
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chinosruca
by on Jul. 10, 2012 at 2:58 PM
1 mom liked this
Not me, but my husband has about 45,000 left. It is INSANE! I don't get how the interest rates and all that are legal. I will not encourage my kids to go to college unless it is paid in full. No student loans. Ever. It is not worth it. I did not get a college degree & I make more money and hold a higher position than many people I know who have a college education.
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iea13
by on Jul. 10, 2012 at 3:18 PM
2 moms liked this
I completely agree with you. Growing up I was told go to school it'll pay off in the long run but that's not always true. I started a savings for my son and will encourage him to never get student loans. I also know people who are successful and no degree.

Quoting chinosruca:

Not me, but my husband has about 45,000 left. It is INSANE! I don't get how the interest rates and all that are legal. I will not encourage my kids to go to college unless it is paid in full. No student loans. Ever. It is not worth it. I did not get a college degree & I make more money and hold a higher position than many people I know who have a college education.
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JeremysMom
by on Jul. 10, 2012 at 3:22 PM

 I have $25,000 but I will have $11,000 of that knocked off after I finish my second year of AmeriCorps. Because I am serving in AmeriCorps my loans are deferred but I am still having to live on a tight budget because my monthly stipend is only $890.

 

Just curious. What type of work do you do? Do you happen to work in government or non-profit?

Join us on our 1 year challenge- Jeremy's 365 Day Adventure

cassiekitty7
by on Jul. 10, 2012 at 3:22 PM

I have about 120,000 in student loans.  I do not have a job, so do not pay right now, but they ask for like $1500 a month.  Even if I had a job with my degree I could not pay that much a month!!!!  I regret ever getting student loans.  I do not regret school or my degree though. 

brunett34
by on Jul. 10, 2012 at 3:28 PM

I currently owe $8,000 in student loans. My payments are $51 a month. The sad thing is I haven't been able to get a job in what I went to school for. Nobody is hiring a Medical Insurance Biller and Coder in my area. So, I basically went to school for nothing. Let alone throwing away money each month that I don't have. I got lucky to get a job online so I can start paying on the loan. They pay is not even close to what I was hoping for. The whole point in going to school was to get a job paying at least $9-$12 an hour.

iea13
by on Jul. 10, 2012 at 3:37 PM
I work for a city organization as a counselor for children (M.A. in counseling).

Quoting JeremysMom:

 I have $25,000 but I will have $11,000 of that knocked off after I finish my second year of AmeriCorps. Because I am serving in AmeriCorps my loans are deferred but I am still having to live on a tight budget because my monthly stipend is only $890.


 


Just curious. What type of work do you do? Do you happen to work in government or non-profit?

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JeremysMom
by on Jul. 10, 2012 at 3:53 PM

 You might qualify for Public Service Loan Forgiveness. You basically set up an income based payment plan and after 10 years of public service through non-profit or government agency, the remainder of your loans are wiped away. You can find out more here- http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp

Quoting iea13:

I work for a city organization as a counselor for children (M.A. in counseling).

Quoting JeremysMom:

 I have $25,000 but I will have $11,000 of that knocked off after I finish my second year of AmeriCorps. Because I am serving in AmeriCorps my loans are deferred but I am still having to live on a tight budget because my monthly stipend is only $890.


 


Just curious. What type of work do you do? Do you happen to work in government or non-profit?

 

Join us on our 1 year challenge- Jeremy's 365 Day Adventure

mom2bell
by on Jul. 10, 2012 at 3:56 PM
Yeah I owe about 29,000. Have had it deffered and will begin paying now. Hope to get it paid off within 2 years so I can pay for my daughter to go to college!
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