Student loans:

[jread]

How much have you racked up? How much do you pay per month? How long do you have to pay it off?

Trying to get an idea on this because I'm financing school with Stafford loans (subsidized and un-subsidized) and want to know what to expect when I'm done. It's a private school and tuition is.... well, not cheap. I don't even wanna know what I've borrowed so far :(

Also, if you go straight to graduate school, do you have to start paying back your undergraduate loans or do they all roll into the graduate loans?

I hope I get some of those scholarships I've applied for :eek:

[moni]

i'll be 22,000 in debt after i graduate in may (from subsidized stafford and federal perkins loans or something like that). an advisor told me that when you go to grad school, you might not have to pay it back yet. i still have to go to the financial aid office to find out for sure.

hopefully with a masters degree... i can pay off the loans quick. :whistle:

[Rajah]

$150K. 20 years or something. I don't know. If I dwell, it's too damn depressing.

[Ivy]

$150K. 20 years or something. I don't know. If I dwell, it's too damn depressing.

I try hard not to think about mine, too. "Only" 15K, but that's for "only" a BA, too. And, since I'm currently "only" staying home with the kiddos and bringing in some extra $$ by doing childcare in my home a couple days a week, it sort of feels like I'm not using the degree except to make smarmy posts on internet message boards. *sigh*

[Rajah]

I try hard not to think about mine, too. "Only" 15K, but that's for "only" a BA, too. And, since I'm currently "only" staying home with the kiddos and bringing in some extra $$ by doing childcare in my home a couple days a week, it sort of feels like I'm not using the degree except to make smarmy posts on internet message boards. *sigh*I'm currently unemployed. I'd be using my degrees as lovely wall art, except I've never gotten around to getting them framed. They're sitting on a shelf. Again, if I could get a refund for my law degree, I totally would. ;)

[ptGatsby]

Don't forget to account for opportunity costs. Four years (and upwards of 7 for Dr) of work and savings adds up to a whole lot of money. The math suggests that *smart* people that invest their savings instead of going to school end up ahead until roughly the age of retirement (depending on avg return, between 60-70). Something to think about.

Of course, those that go to UNI tend to have a higher QOL till the age of 60 - but those that do not could actually retire sooner...

But we all know exactly how many of us save the equivalent amount...!

[Ivy]

I'm currently unemployed. I'd be using my degrees as lovely wall art, except I've never gotten around to getting them framed. They're sitting on a shelf. Again, if I could get a refund for my law degree, I totally would. ;)

I'm glad I'm not the only one who didn't frame my degree. Actually, at the time that I graduated, UNC wanted people to actually go and pick them up at the Dean Dome, which I avoided like the plague (Fratboy Central) so I actually never even bothered to get mine. Now I believe they mail them out.

[cjs55]

it sort of feels like I'm not using the degree except to make smarmy posts on internet message boards. *sigh*

that is so worth it!

[Rajah]

I'm glad I'm not the only one who didn't frame my degree. Actually, at the time that I graduated, UNC wanted people to actually go and pick them up at the Dean Dome, which I avoided like the plague (Fratboy Central) so I actually never even bothered to get mine. Now I believe they mail them out.My university had our degrees waiting for us after the graduation ceremony, no naturally my mom made me go pick it up immediately.

[Architectonic]

In Australia, for 'commonwealth supported students' if you pay up front (per subject per semester) you recieve get a 20% discount. (a 20% discount on any amount you pay upfront over $500)

So including the discount, it is about:

$12000 for 3 year Arts
$23000 for 4 year Science (honours)
$26000 for 4 year Law
$32500 for 5 Year Dentistry
$39000 for 6 Year Medicine/Surgery (double degree)

If you cannot pay any upfront, you do not recieve the 20% discount and you are entitled to 'HECS-HELP' government loans that are supposed to be indexed to the CPI.

[coffeezombie]

$30,000 in debt, due to the fact that there is no in-state urban planning graduate school in Missouri, and that's where I was living at the time.

[Birdsnest]

If you can, do not take any more out on loans, please. Only accept the grants which don't have to be paid back. I racked up my first loan (Sallie Mae) for $5500 in the early 90's, and because I didn't finish my degree, or find work, I defaulted. Then when I applied for govt. job, it came back to haunt me. I had to pay the whole thing off (still 3000) before I could really apply. Had to borrow it from my stepmom, and paid her back with my tax refund in February.

Then, I was dumb enough to take another loan from (Sallie Mae) when I went back to school in 2001. When they offer it, it looks so damned tempting! Nobody tells you what its like to pay it back later, you are never free! I've been paying $55 a month ever since, and I'm still not even making a dent in it, it just keeps getting applied to the interest portion for the first few years. I think you have to make twice the payment to start showing anything. Sometimes I do get behind on it too, which is really bad. So, uhm, I do not recommend accepting these if you have any choice at all. Scrape by, work at night, save yourself later. Its not guaranteed you will get a job after school even to repay it, but then you feel like you are on a ball and chain for the rest of your life to repay it.

Use tax refunds if you can to repay in large chunks.

[Zephyrus055]

Why pay loans? Just be like me and make your parents pay for your education.

[Rhu]

Why pay loans? Just be like me and make your parents pay for your education.
...

You're kidding, right?

[Snowflake]

Nothing so far, my parents had money stashed away, and I have a fairly decent scholarship, not to mention, I attend a state college and don't pay out of state tuition.

[Zephyrus055]

...

You're kidding, right? Nope! I make my parents pay for it, and they're happy to.

[Rhu]

Nope! I make my parents pay for it, and they're happy to.
I'm going to assume you're kidding, anyway. But a bit of rear covering in case you aren't:

Some of us out here could be from lower middle class or poorer families.

Some of us out here aren't only children of middle class families.

Some of us out here aren't from upper middle class or richer families.

Some of us out here may be from families who want their kids to take on some of the debt because the money investment might make the studies more meaningful.

Some of us out here aren't from families that care at all.

[meshou]

Nope! I make my parents pay for it, and they're happy to.You "make" them?

Bitch, please. You can't make anyone do anything, let alone your parents. Shut your smarmy, spoiled mouth until you can show some respect.

["InsertNameHere"]

about $25,000 in loans so far and I'm only intitled to pay $10,000 of it. Not so bad but I lost one of my scholarships, so in the next couple of years the bill is going to go up. Oh well...

[Claverhouse]

You "make" them?

Bitch, please. You can't make anyone do anything, let alone your parents. Shut your smarmy, spoiled mouth until you can show some respect.
*yawn* Actually, some people can ( not me ): and it's not just rank or office, some two-yr-olds can make their parents do anything: you just make the alternative consequence less appealing than the act of obedience.

Not to mention the natural deference some other people have, perhaps through training/conditioning, which is totally to be encouraged: although in more traditional societies it usually goes the other way from child to parent.

And I haven't even touched on hypnotic suggestion ( which is awesome, and something I would like beyond all else after everlasting youth, incredible personal beauty, and inexhaustible powers ).


Claverhouse http://intpcentral.com/forums/images/smilies/ninja.gif

[panda]

You "make" them?

Bitch, please. You can't make anyone do anything, let alone your parents. Shut your smarmy, spoiled mouth until you can show some respect.
I agree with Claverhouse and Imperator on this. You can make people do things; manipulation is easy. I "manipulated" my parents into paying for most of my college. Respect doesn't even come into the equation. It's simply a matter of survival. I care for my parents a great deal (as they do for me), but that doesn't mean I'm going to pass up on some easy money.

[sbw]

everyone shat upon me when I stated in another thread (just a few weeks ago) that people should skip college because it is an increasingly bad deal financially...has hustler contributed to this thread yet?

Scott

[sbw]

Don't forget to account for opportunity costs. Four years (and upwards of 7 for Dr) of work and savings adds up to a whole lot of money. The math suggests that *smart* people that invest their savings instead of going to school end up ahead until roughly the age of retirement (depending on avg return, between 60-70). Something to think about.

Of course, those that go to UNI tend to have a higher QOL till the age of 60 - but those that do not could actually retire sooner...

But we all know exactly how many of us save the equivalent amount...!

a thousand thanks, mr gatsby, for mentioning the opportunity cost...I'm retired at 25. and I was drunk, renting, and broke when I was 19, just like everyone else.

Scott

[meshou]

If he was able to make them do so, it's because his parents are stupid or suggestable, or he is spoiled. If they're choosing to do so, then it's appauling he'd talk about them that way. In any case, how he speaks about it reflects extremely poorly on him.

It's a wonderful gift to have your college paid for, and apparently wasted on someone who can't appreciate it.

[nihilist]

It's a wonderful gift to have your college paid for, and apparently wasted on someone who can't appreciate it.

It's not quite as black and white. Personal favors such as parents paying for college can threaten one's sense of individuality and deeply rooted need for psychological independence. Furthermore, this can result in reluctantly becoming part of the machine because of being morally obligated to meet the benefactor's expecation. Anyway, I do agree that those who do accept money from parents for college should be grateful.

[panda]

If he was able to make them do so, it's because his parents are stupid or suggestable, or he is spoiled.
Is there something wrong with any of those things? Possibly, but value judgments seem to be subjective (or at least nearly impossible to objectively "prove").


If they're choosing to do so, then it's appauling he'd talk about them that way. In any case, how he speaks about it reflects extremely poorly on him.
Again, why? Not everyone views the world (and relationships) the same way.


It's a wonderful gift to have your college paid for, and apparently wasted on someone who can't appreciate it.
I agree that it's a great gift. Regardless, Imperator hasn't given any indication that he's ungrateful about it.

Anyway, your viewpoint is as valid as any other. You're just being very... subjective about the whole thing.

[panda]

Anyway, I do agree that those who do accept money from parents for college should be grateful.
That's definitely the kind and decent way to be. However, it's entirely subjective.

[meshou]

*shrug* I suppose the way I filter out people I do and do not like is partially based on not speaking about one's parents, especially if they are competant and making your life much easier than they had any obligation to, like they are your lap dogs. He's basically said he's either spoilt rotten or from horrible genetic stock.

I can't speak about his karma, merely about what I like and dislike. I dislike the spoilt and ill bread.

[panda]

*shrug* I suppose the way I filter out people I do and do not like is partially based on not speaking about one's parents, especially if they are competant and making your life much easier than they had any obligation to, like they are your lap dogs. He's basically said he's either spoilt rotten or from horrible genetic stock.

I can't speak about his karma, merely about what I like and dislike. I dislike the spoilt and ill bread.
I essentially agree with you, I just see it as being rather subjective. Maybe I'm interpreting his remarks differently than you. We all "manipulate" people in one way or another, when you get right down to it. Everything we do influences or manipulates people in some way. Being attracting is a form of manipulation. Being eloquent is a form of manipulation. Being smart is a form of manipulation.

Imperator is simply manipulating in a more conscious way, I suppose. Whether or not that's "wrong"... *shrug*

[nihilist]

That's definitely the kind and decent way to be. However, it's entirely subjective.

I am not sure if there is an objective pov when the premise of the argument is based on ethics.

[panda]

I am not sure if there is an objective pov when the premise of the argument is based on ethics.
Oh, I completely agree. The problem (in my opinion) comes when one asserts the superiority of their views over that of others (or phrase their opinion(s) in such a way as to imply it). Of course, some level of courtesy is necessary to the smooth functioning of "society", so I guess there is some common ground. (Assuming they share in the desire to dwell in a stable society... and not be treated as an outcast.)

[Rajah]

My parents are barely scraping by. They can't pay my loans. My dad lost his job while I was in grad school, and unfortunately cashed in his 401K the year I started law school. It looked like income, but wasn't, so he basically screwed me out of grants. That's why I'm stuck with a "shocking" amount of student loan debt (as so deemed by my law school financial aid advisor). So, if your parents would like to subsidize my education, I'd be grateful.

[Architectonic]

everyone shat upon me when I stated in another thread (just a few weeks ago) that people should skip college because it is an increasingly bad deal financially...has hustler contributed to this thread yet?

Some of us don't go to college to get rich.




Maybe we have it backwards though. :ph34r:

[sbw]

Some of us don't go to college to get rich.




Maybe we have it backwards though. :ph34r:

um, yeah...what other reason is there?

Scott

[Ivy]

It's not quite as black and white. Personal favors such as parents paying for college can threaten one's sense of individuality and deeply rooted need for psychological independence. Furthermore, this can result in reluctantly becoming part of the machine because of being morally obligated to meet the benefactor's expecation. Anyway, I do agree that those who do accept money from parents for college should be grateful.

Although it did seem bratty to phrase it like that ("make your parents pay") I didn't object as much to the ungratefulness as much as I did to the "let them eat cake" attitude. Like, if you can't pay for college, why not get your parents to pay for it? Nevermind that not everyone's parents can pay for a (or more than one, if they have siblings) college education.

I'm one of five. My parents aren't paying for five college educations on top of medical bills (mom's breast cancer, dad's spanking new hip) and saving for their own retirement.

[floyd]

My parents are barely scraping by. They can't pay my loans. My dad lost his job while I was in grad school, and unfortunately cashed in his 401K the year I started law school. It looked like income, but wasn't, so he basically screwed me out of grants. That's why I'm stuck with a "shocking" amount of student loan debt (as so deemed by my law school financial aid advisor). So, if your parents would like to subsidize my education, I'd be grateful.

from people i know who went to law school, i was told there is little to no grant or aid money available. most people, no matter how poor, have to pay for it all with loans. is that innaccurate? do you resent your parents not being able to help your with you education expenses? i am confused by the intended meaning of "they can't pay my loans."