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My husband and I consolidated our loans and owe around $40,000 after being out of school for 6 1/2 years. Now we're trying to pay for my graduate school. Only three more classes left! We both feel that the loans were worth it, but we're also thankful there were some grants mixed in as well.
I was on scholarship in undergrad; didn't need to take out a student loan but ended up taking out one for one quarter(back when they had quarter systems--aahhh the days) for about $1750. I immediately paid it back when I got a job after graduating; owed a little over 2k (including interest). Went to graduate school and decided to listen to my friend and take out a loan to pay for my credit card bills (7k) because at the time the credit card bills had a higher interest than student loans. I then paid it back and should have it paid off in about 1-2 years @ 1.71 %. My payments are about 78 bucks a month. It is not bad but, I could be buying shoes....wait, that's how I got into barrowing in the first place. nevermind.
I certainly believe that as much as our education is worth the sacrifice, that's not the way it should be. In my opinion, to spend the next 15 or 20 years paying off a loan is kinda crazy. At the same time, its not like I'm dying for our country to undergo a socialist make-up. If we continue down this path, very soon it will not be worth to go to school. Of course, it might take a few years, or so I hope, until a student loan might makes us consider it. On the contrary, a socialist approach does not guarantee an alternative. For instance, education is most South American countries and the Iberian Peninsula is free. However, you can't find jobs that can potentially help you to over come your current social-financial dilema.
Lets see, mine is about $3,500. I went for pretty much every scholarship I possibly could, worked to get free classes and graduated a semester early with a BA in Political Science. I would not really consider it being in debt though since I have enough saved up to pay it off any time. Law school will more than likely bury me though. Depending where I go, I could be in from $10,000-$50,000 after finishing, but at the same time if I make it though, which I am confidant I will. I will have a JD for which, I would gladly pay twice that.
My total debt out of undergrad was a little less than 1/2 of my annual salary.
Mine is about the same, Engineering, after paying off 1.5 years worth at around 250/month (I think my monthly payments are lower but I don't care) I'm at about 20k left. Hopefully there will be mass inflation so I can pay that off faster
I also worked while in school (my school had a coop program), so that definitely helped.
Mine is about the same, Engineering, after paying off 1.5 years worth at around 250/month (I think my monthly payments are lower but I don't care) I'm at about 20k left. Hopefully there will be mass inflation so I can pay that off faster
When the stimulus from mr. Obama hits the road, you betcha there will humongous inflation...
I'll graduate in May 2009, at 41 yrs old, with a BS in geology, minor in GIS.
Very low income + high GPA female science student = lots of scholarships and grants. All my tuition has been paid, $0 debt. I go to a small, cheap state college. It's <$5k/yr for a full time class load.
I've worked p/t off and on during the time I've been in school for low wages.
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) for about $1750. I immediately paid it back when I got a job after graduating; owed a little over 2k (including interest). Went to graduate school and decided to listen to my friend and take out a loan to pay for my credit card bills (7k) because at the time the credit card bills had a higher interest than student loans. I then paid it back and should have it paid off in about 1-2 years @ 1.71 %. My payments are about 78 bucks a month. It is not bad but, I could be buying shoes....wait, that's how I got into barrowing in the first place
. nevermind.
