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Discussion in 'Et Cetera, Et Cetera' started by midlifebear, Apr 14, 2008.
For you "well educated" LPSG-ers who graduated with a two-year associate degree, four-year undergrad degree, masters, or piled higher and deeper certificate did you take out and pay off any student loans?
Since I started the thread: Yes, I took out just over $10,000 in GSL loans, at 9.5% which took much longer than I anticipated to pay off. But I did it.
And yes, I feel comfortably elitist about it, because I know of hundreds who defaulted by taking about bankruptcy when it was still possible to do so.
Paid mine off. I seriously felt liberated when the last check was written!
Oh I'm paying for it alright... painfully.
I was just discussing with my adviser this morning whether it's smarter to pay ours off right now, or to retroactively kick money into 2007 Roth IRAs for the Mrs. and me before the deadline tomorrow.
I had some scholarships, worked, and had some help from my grandmother. So I was lucky and didn't need to take out any loans.
My nephew just got his doctorate in Veterinary medicine and owes 200.000 $
Just a side note, the reason I started the thread was because of a discussion I had with my accountant who noticed I had never claimed any interest deductions during the time I owed a student loan (20 years ago). According to his calculation, I could have bought a new Jaguar and paid it if off much earlier than that lousy ten grand.
Yes, I'm actually on an economic hardship deferment. You will die with these loans these days. There's no escaping them. However, if you are in dire straights you can bargain for deferments and forbearances. You can even negotiate for a lower monthly payment for a period of time. But there's no escaping those loans these days. No bankruptcy, nothing. Fortunately, when you die, they die. They are not passed on to your children. However, give them time, I'm sure they'll fix that.
I owe $83,000 and it's growing at 2.75% interest while I can't pay. I was able to lock in and consolidate at 2.75%. I was very lucky. I'll be able to pay the loan back through retirement... I can hardly wait...
Yes Lawd! I paid them off. I had one in undergrad. I got a fellowship for graduate school and paid as I went along for my second grad program. It was a pain but I am thankful that it was there for me to borrow.
I'm gonna be graduating with at least $100k in loan debt. My parents make too much to qualify for the "generous" financial aid packages my school offers, but can't afford to foot much of the bill themselves because I'm the oldest of 4 who go all go to Catholic schools. I likely wouldn't have gotten into any Ivy League schools if I'd attended the local publics, yet that education and offerring my siblings the same opportunity means whatever amazing "ability to pay" my parents have is illusionary. Basically the notion seems to be "well, you should just drop those other kids and support the education of this one alone, even though we accepted him largely because of the expensive education you gave him."
So I'm to do as well as I can and whore myself out to the business world when I'd prefer to be a musician or writer, simply to allow myself to get the education I want and be able to live comfortably with it. I sincerely hope the money I'm paying is worth the investment. I know I'd rather be nowhere else, but it'd be nice if they could back up the cost of their tuition with security in recouping the investment in the job market. Wonderful
I'm so pissed at higher education right now, for that and other reasons. I don't even know where to start
$72K+ @ 2.75%.....4th year and counting on payments...wouldnt even think of defaulting on these for a minute...i can only imagine what happens when u default!
I did not have any student loans, but I did hold down a job through all my college days which was purely for spending money. I had a serious awakening when I graduated and held my first job...suddenly having expenses drastically changed my lifestyle and lavish spending habits.
They were instituted after I was out of college. I had BEOG grants totaling two hundred and something, that was all the federal aid available.
never took any loans out. All of my education I have paid for out of my own pocket or through employment assistance reimbursement after I completed the courses.
I finally paid my loan off but I was pissed off that I had to. The school I was going to shut down out of the blue. Went to school one day and door was locked. Found out later that the people who ran the school stole millions in student loans. A lawyer called me and asked if I wanted in be in a class action lawsuit which I did. He took it to court found out the the owners filed bankruptcy and the money was put in banks out of country. So we all got screwed and had to pay it back. The gov. took my tax refund check after I fell behind on payments. Finally paid it in full about 6 years ago. I will NEVER take out another student loan and still haven't finished my education.
Never took one - It's free to go to university (and all other schools) in Denmark and I've always had work on the side.
YOU dont say?:wink:
I paid my student loans, myself, in full. There was no one else to do it for me, and I don't have it in me to be able to default on a loan.
They can garnish your wages, sue you, etc....
LOL I do say. I used to go to LA to get my hair cut and pay over $100 for it (this was back in the early 90's) and I was also had my own gold credit cards and was a Neiman-Marcus "InCircle" member because I spent so much each month there. When I had to start paying my own bills, things changed a lot!