How do you pay this off? Advice?
Yr in the hole like 200k by the time you grad if your parents don't pay for you.
Yr in the hole like 200k by the time you grad if your parents don't pay for you.
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If you pay the minimum you are fukked 10 times to Sunday. Even with 3-6% interest the loan is so large that the minimum BARELY covers more than the interest. I pay 50-60% more than the monthly every month.
Owed close to $20k, even when it was $17k with interest around 5% average I was paying $3 a DAY in interest.
Best advice is don't take out more than you actually need, that money isn't 'food and fun' money and to pay at least 20-30% more than your monthly amount.Comment -
Wrong forum. And too many variables to discuss. There are forgiveness programs depending on what you study. Never, ever take out a student loan to cover lower division. Go to JC and/or take as many CLEP tests as you can. Only accept subsidized student loans if you do need to take them. Make sure you are maximizing your education credits when you do your taxes, and if you do take interest on a loan, make sure you PAY it while you're in school because you can get a tax credit there too.
Apply for as many scholarships as possible. Even if you don't think you fit the criteria. Several hundred thousand dollars in scholarships go unused every year.
Make sure you are keenly aware of any state grant programs available.
Never, ever, ever declare anything other than direct income (taxable income) on your FAFSA. If you are declaring assets then god help you.
If you are in a grad program....think about getting yourself a job first and then taking care of your education at night or online. Countless companies have corporate reimbursement programs.Comment -
Yes,
Buried
Been paying my girl for years...
Still can't pass the damn class!Comment -
Public service!!!!!!!!!!!!!! .....wipe away all my loansComment -
Is it especially difficult with people who grad in the general arts degree?
For example, sociology, or philosophy, or something in which it might be hard to get a high paying job in that field?Comment -
Get a job in finance instead of the above mentioned shit. That "I want to change the world" stuff is all bullshit. Those people are bitching about bills and debt in no time. Sociology, Philosophy, Theology, etc. are for women (because their parents will back them or they have a man who will take care of them) and soft men with no ambition.
Real men know that it is all about getting as much money and pussy as you can before you die. Go to church on Sundays and just do you the rest of the week.
And oh yeah, your taxes get distributed to people on welfare and stuff so you are "giving charitably" already. Get your paper and a quality bitch, and forget about everything else.Comment -
i agree about changing majors. major in some sort of business/accounting/finance. i was majoring in bio but realized i could do nothing with that degree except maybe get accepted to a med school in costa rica. i switched to comp sci with a business minor and never looked back. i didnt even end up using much of the comp sci. if i could do it again i would have done straight finance.Comment -
Nice, thanks guys.
Any1 have personal experience being heavy in debt?Comment -
Direct Loans has a Program called "Income Contingent". ( www.ibrinfo.org ) Your payments are based solely on your income from the last year. After 20-25 years, any balance remaining is forgiven. The only problem is that I believe you have to count the forgiven balance as earned income to the IRS. Of course, I wouldn't be surprised if within 20-25 years that some president will attempt to forgive all student loan debt to win some brownie points.Comment -
I graduated from U of Iowa with a worthless sociology degree and zero debt by growing large amounts of weed and selling it for $50 an eighth. It's a good gig when you're young and have customers.Comment -
Biggest mistake I made was refinancing my student loan debt a few times. Just pay the shit off. It's very tempting to lower your payments but when you keep extending the term it's just stupid. I could have paid my debt off in 5 years, but instead took like 15.Comment -
I served in the military and received an honorable discharge and the US government will still not honor their debt to me.
I guess since they owe China billions, they won't repay a veteran.
Hence, why I gamble, and stay unmarried. Student loans have signaficantly altered my life.
I sound a little dark, and I know this.Comment -
IBR and public service.Comment
