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grrr student loans

joe0813

joe0813

New member
holy sh1t i hate these things.... been out of school since 2007 and my loan has gone down 2000 dollars.... at this rate ill be paying this off when im 60 :th_thumbsup-wink:

end rant
 


Yup.

It is a crazy age we live in where student loans take on the life of a 2nd mortgage in a way.

I have $40k, but only 14 years left; I could careless, I have it budgeted it out and I don't notice anymore. I'm not going to pay it any faster either.

Funny though how my one private student loan has changed hands about 3 times since signing for it in 2006. Don't care, my interest rates are stupid low and they can't do anything about it.
 
once we're settled in after the baby comes that's the next on the "to-do" list for paying things off. regardless of the low interest rates, it's still money out of your pocket each month. once that's gone all we'll have left is the house (and my new car...).

however, no one pays off houses unless they are there for a long time (10-15 years).
 
Yes they suck.. i have about 30k right now... my GF has about 60k cause she went to a private college lol but she finished 2 degrees in 4 years lol
 
i was lucky enough that my parents foot the bill for my schooling, so i currently have no personal debt. i'll be doubling up on the wife's payments soon enough so we can get rid of that bill.
 
Cost me 13-14k for tech school, had my mom pay it all and then she turned into the bank. I just paid off monthly with little interest and paid it all off last year. Anybody that knows me knows I don't spend cash or do anything lol, so saving was easy for me. I also HATE having to owe anyone money so I payed it off as quick as I could.
 


Got a nice letter in the mail today. It is a company wanting to help me pay off my student debt, key phrase was not-for-profit. Since student debt has become an issue it appears these guys have started foundations to claim themselves not-for-profit, don't know if they get any money from the government for these "assistance programs", I could see that being the case, not sure...but here is where it gets real good...my interest would be...........7.19%


let that sink in....


7.19%


More than a current mortgage rate, more than an average car loan....


7.19%


So this not-for-profit will be paying off my loans only for me to pay them 7.19%, that is one hell of a deal...as long as people pay it back they will collect an extra percentage off the top. My interest rates are south of 2%, don't ask how I got it, but I got lucky with some of my federal loans and have 0%

Obviously it was a generic flier as they advertised it as helping me to lower my interest rates. I don't know many student loans that were over 7%, there were a few I guess, but boy that is a small crowd.
 
...of course that is a damn slight better than Western Sky loans with 116-139% interest rates...that just seems like a hole you will never dig out of.

5000loan.jpg
 
My grandma and my auntie helped me pay for my school. It was only 10k. My mom is on disability so the money is tight around here. I'm lucky I got the help from family. Even though 10k isn't that much, it will be if I don't end up doing what I went to school for... So a waste of money lol


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Drunkie said:
...of course that is a damn slight better than Western Sky loans with 116-139% interest rates...that just seems like a hole you will never dig out of.

5000loan.jpg
Click to expand...

I remember the original version of those commercials, where the guy even says, "The money is not cheap..." Uh...gee - you think?
 
Bio248 said:
i was lucky enough that my parents foot the bill for my schooling, so i currently have no personal debt. i'll be doubling up on the wife's payments soon enough so we can get rid of that bill.
Click to expand...
That was exactly my situation. When I graduated, I had no debt. Got married, and a real job, and we paid off all my wifes student loans and credit cards. We haven't carried a credit card since, and the only loans we get are for cars and house.
 
Sven Sexman said:
I owe $2200 on my loans. Unfortunately, the government bought them from Sallie Mae and jacked the interest to the moon. :-(
Click to expand...

Yours weren't fixed?

I consolidated, Sallie Mae style. They took all my interest rates from the loans (disbursements) 4 of them were 0% and the others were 2-3%, I ended up with a stupid low rate.
 
Drunkie said:
Yours weren't fixed?

I consolidated, Sallie Mae style. They took all my interest rates from the loans (disbursements) 4 of them were 0% and the others were 2-3%, I ended up with a stupid low rate.
Click to expand...

I was in deferment when the government found its latest way to f*ck people. Sallie Mae sold a number of its loans in deferment, forbearance, or default to the Federal Government so people could get screwed.
 


I'm getting dicked over pretty bad. Currently paying about $575 per month in student loans. Need to way all my options. Already consolodated some (mix of public and private colleges)
 
I owe a stupid amount since I went to a private school. Dad has bad credit, mom is on disability, and ran out of "cosigners". I'm not too overly worried because my current job pays mid 50k a year, and I've only been there year and a half. I know some people have been there no more than 10 years and raking in 80k... all without a degree. Plus I might not have thousands in a savings account, but I have 176 acre farm coming to me when my dad steps down. For a place that I can live comfortably for less than 20k after bills... I think I'll be alright.
 
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