tag:blogger.com,1999:blog-8465887551310827456.post6008199820571278716..comments2023-09-02T07:09:34.264-04:00Comments on Digging Out From Our Mess: Student Loan DISGUSTMystihttp://www.blogger.com/profile/17496508600320205581noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-8465887551310827456.post-2368334215070318762012-10-17T11:24:29.335-04:002012-10-17T11:24:29.335-04:00Excellent & remarkable post! I have been visit...Excellent & remarkable post! I have been visiting various blogs for my Thesis writing help. I have found your blog to be quite useful. Keep updating your blog with valuable information.. <a href="http://www.quickloanguru.com/" rel="nofollow">website</a>tenthouhttps://www.blogger.com/profile/11278840698788349842noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-19577299813675596192012-07-22T09:47:01.524-04:002012-07-22T09:47:01.524-04:00Thanks for this post Mysti! The Princess has taken...Thanks for this post Mysti! The Princess has taken out loans for this year, and we are very nervous about it.... I'll make sure she reads this about the true costs of deferrment and interest only.Sasshttps://www.blogger.com/profile/10348650157037720366noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-41560685707141086082012-07-17T19:06:21.909-04:002012-07-17T19:06:21.909-04:00I am still paying off my student loans after gradu...I am still paying off my student loans after graduating in 2001. Unfortunately, a bachelor's in psychology does not qualify you for much in the way of career and then I got sick and couldn't go for the master's or work. I had massive student loan debt - around $55,000, I think. We ended up paying off about half with a home equity loan that will only go for 15 years. I pay $179 every month and most of that has gone to interest. It's just disgusting. And it lasts longer than a mortgage without the benefit of the house.<br /><br />My oldest son has decided not to continue his education after his two year associates degree because he does not want to accrue student loans when he doesn't know what he wants to do. In some ways, I think that is smart, but he won't be qualified for much of anything. He's working as a waiter at a retirement home right now and has 4 classes left on his associates. He's making about $8.50 an hour and hoping to go full time there this fall. I have extreme doubts as to whether he will ever be able to support himself and I have two teenagers coming up right behind him.<br /><br />What are we leaving our children with????Chellehttps://www.blogger.com/profile/11483632903669245656noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-74723541707186571812012-07-17T15:43:03.791-04:002012-07-17T15:43:03.791-04:00$150k? I am assuming he is a doctor or lawyer? H...$150k? I am assuming he is a doctor or lawyer? Hopefully his earning potential is HIGH!Mystihttps://www.blogger.com/profile/17496508600320205581noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-75617846256833937062012-07-17T15:42:17.933-04:002012-07-17T15:42:17.933-04:00Oh please.....I know you are saving for a house an...Oh please.....I know you are saving for a house and a trip....but knock this one out before you have kids! You have no idea how much harder it is the longer you wait.Mystihttps://www.blogger.com/profile/17496508600320205581noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-78963016657439544652012-07-17T15:41:04.976-04:002012-07-17T15:41:04.976-04:00My due date is the 25th, but it seems that even if...My due date is the 25th, but it seems that even if I pay the next month's amount on the 1st, the interest builds. I pay $230 a month now, and $75-ish goes to interest.Mystihttps://www.blogger.com/profile/17496508600320205581noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-25998357018189305842012-07-17T15:39:48.068-04:002012-07-17T15:39:48.068-04:00My "small" student loan that I paid off ...My "small" student loan that I paid off a little while back? It was $5,000...and I paid another $5,000 in interest. Took me 18 years as well.<br /><br />We all just do the best we can.Mystihttps://www.blogger.com/profile/17496508600320205581noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-47050357970245259802012-07-17T15:38:06.490-04:002012-07-17T15:38:06.490-04:00I look at this as an opportunity to teach my kids ...I look at this as an opportunity to teach my kids what NOT to do!Mystihttps://www.blogger.com/profile/17496508600320205581noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-82203546938747236932012-07-17T15:37:27.396-04:002012-07-17T15:37:27.396-04:00My first job after college...I made 21k a year. I...My first job after college...I made 21k a year. I couldn't have paid $500 a month.<br /><br />But I wish that I had really worked to pay off my undergrad as soon as I finished. I got married at 22, moved at 24, got my Master's at 27, and had my kids a few months later. In those 5 years, I wish I had really known the big picture.<br /><br />Thanks for reading!Mystihttps://www.blogger.com/profile/17496508600320205581noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-25994151468930524242012-07-17T15:34:50.835-04:002012-07-17T15:34:50.835-04:00The short answer is she will make more with a Mast...The short answer is she will make more with a Master's than a Bachelor's. And depending on the state requirements...she may HAVE to have a Master's to get tenure.<br /><br />But she should pay it back as soon as she can, before life gets in the way.Mystihttps://www.blogger.com/profile/17496508600320205581noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-80591075364833152712012-07-17T14:11:16.032-04:002012-07-17T14:11:16.032-04:00That is depressing. If it makes you feel any bette...That is depressing. If it makes you feel any better, my BIL has about $135000 left to pay off. when he graduated about 4 years ago, he was up around $150k.Theresahttps://www.blogger.com/profile/02410176479138340024noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-42454416837919991122012-07-17T13:51:33.255-04:002012-07-17T13:51:33.255-04:00yes yes yes! I have like 7 loans when they're ...yes yes yes! I have like 7 loans when they're all divided out. One I consolidated and it is a giant chunk loan now of about $12 grand. In the six years since I've gradtuated college, I've only paid about $1000 into principal, with the rest of it all on interest. It's sickening. I'm focusing on paying off the smaller student loans for now. and then will work to pay off that massive loan.Newlyweds on a Budgethttps://www.blogger.com/profile/10165059665185786849noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-48342994548579376822012-07-17T13:26:37.850-04:002012-07-17T13:26:37.850-04:00One thing I have found about paying my (massive) s...One thing I have found about paying my (massive) student loan is tracking when it gets paid. The due date is the 20th of the month, but if I wait that long then most of the payment goes to interest. If I pay at the beginning of the month, more goes to principal. It took me a while to figure it out, but they get paid early every month!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-91902638448511314192012-07-17T11:17:01.306-04:002012-07-17T11:17:01.306-04:00It took me 18 years to pay off my 2,500 loan. Yes...It took me 18 years to pay off my 2,500 loan. Yes 18 years, I was queen of deferment. We just had no income and sick kids yada.yada.Out My windowhttps://www.blogger.com/profile/13456481267171643227noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-61854959938985312462012-07-17T11:08:14.986-04:002012-07-17T11:08:14.986-04:00Yes and no. What's done is done and I have eno...Yes and no. What's done is done and I have enough to give me grief in the present so i try not to add the crap from the past to the list. <br /><br />Thanks for entering my giveaway, good luck!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-50691994724024909752012-07-17T10:47:20.309-04:002012-07-17T10:47:20.309-04:00I had just about 10k in undergrad student loans. W...I had just about 10k in undergrad student loans. When I started my first full time job, teaching, I wasn't making a fortune, but compared to my part-time work in college I was rich! Instead of increasing my spending I started putting massive payments toward the loans, about $500 a month, way above the $70 minimum payment. I wanted to get rid of that 10k anchor as quickly as possible. <br /><br />The issue of risk is often not discussed when young people take on student loans. Sure lawyers may be able to make six figures, but what about life? It sounds like you've had a lot of life (married, kids, a home) all stuff you should be very proud of. These are the kinds of things that 18 year olds often don't think about when signing up for Sallie Mae. Good luck getting rid of the debt!David Gosshttps://www.blogger.com/profile/18417844161594814357noreply@blogger.comtag:blogger.com,1999:blog-8465887551310827456.post-91181542281363893772012-07-17T10:03:43.423-04:002012-07-17T10:03:43.423-04:00I didn't have any student loans as I went part...I didn't have any student loans as I went part time at night and my employer at the time paid my tuition and books. But, what you are describing is so what I am worried about for my son's girlfriend! She has 2 years left, plus she wants to get her masters. Just this coming school year's loan will be $15,000. She wants to be a teacher, but I'm really not so sure the cost of a masters and paying it off the rest of her life is a smart move. Is she really going to make that much more, as a teacher, to cover the cost of her loan for the masters? Scary!One Familyhttps://www.blogger.com/profile/00369132659573259613noreply@blogger.com