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re: Spin off thread...who pays a huge student loan payment every month?
Posted on 8/3/14 at 1:53 pm to kjntgr
Posted on 8/3/14 at 1:53 pm to kjntgr
No college degree here and still making over 100K and can retire at 47. However, I will stay working util I am 51 to boost my retirement up about 25% more a year. It is a very comfortable retirement too. I did four years in the military instead of going the college route. 
End result, no college loans.
End result, no college loans.
1
Posted on 8/3/14 at 2:17 pm to delta3504
I have a college degree, graduated with no personal debt, and broke 100k at age 27 not having to work offshore. Had everything work out.
Then I married a girl with a business degree and an MBA (and a lot of student loans) who wants a job that she loves more than one that makes a lot of money
.
Then I married a girl with a business degree and an MBA (and a lot of student loans) who wants a job that she loves more than one that makes a lot of money
. 
Posted on 8/3/14 at 2:18 pm to KG6
I'm a failure. 
Posted on 8/3/14 at 2:48 pm to BACONisMEATcandy
quote:
What on earth did you do to get 200k in debt?
It's 160K thank you.
And I would tell anyone now that if they go to Tulane law on a hellacious scholarship, don't frick up and lose it.
Posted on 8/3/14 at 3:32 pm to shutterspeed
quote:
How does that work? Graduated payments? It sounds like the ARM version of student loans.
We've got a special deal. My FIL does 10's maybe 100's of millions with a local bank. It's locked in at 4.25%. We have to renew every two years because of the wording in it.
Posted on 8/3/14 at 3:59 pm to shutterspeed
$80/month that's with going to engineering school, mba and law school. Pays to be smart.
Posted on 8/3/14 at 3:59 pm to gaetti15
I lived like a homeless man, got my bs, ms, and phd and only had 15k total, started paying during my phd and now am down to around 9k
Posted on 8/3/14 at 4:00 pm to kjntgr
Not this guy. BS in industrial technology, MS in logistics and supply chain management, and starting my PhD in logistics and supply chain management this fall. Military has been good to me.
Posted on 8/3/14 at 4:34 pm to jimbeam
quote:
Graduated with no loans and won't need any for grad school either. Thank you TOPS and scholarships
Same, TOPS and scholarships covered undergrad, and I paid grad school in cash. Wife had undergrad paid by TOPS and scholarships and I'm paying her professional school cash, too.
The student loan numbers that I hear my friends talk about sound horrific.
Posted on 8/3/14 at 4:39 pm to Epic Cajun
No way I would go to college and rack up 100k plus in loans. I don't really care what degree it's in. Makes me question the decision making skills some of you have.
Posted on 8/3/14 at 4:40 pm to kjntgr
quote:
Rich parents who pay off your loans
Never took out a loan. Had no car, lived in shite apts, shared room w/other broke dudes, ate lots of ramen and Campbell's soup. Worked on campus job for extra beer money. Delayed gratification.
Posted on 8/3/14 at 4:41 pm to kjntgr
Not me, I never borrowed a penny from anyone! ASU was only $2500 a year when I went and I had Pell Grants that not only paid for my school but I even had a little left over.
Posted on 8/3/14 at 4:46 pm to AUCE05
quote:
No way I would go to college and rack up 100k plus in loans. I don't really care what degree it's in. Makes me question the decision making skills some of you have.
I'd do it for med school. Nothing else.
Luckily I'm not in the position where I had to make that decision.
Posted on 8/3/14 at 4:52 pm to kjntgr
quote:
I'm curious, you guys who have rich parents pay off your loans, are we talking like 20-30. Or over 100k???
Loans never existed, they paid while I was there
And it's called saving for your kids school
Posted on 8/3/14 at 4:52 pm to lsu480
How did you qualify for pell grants? Your family has to be poor for those.
Posted on 8/3/14 at 5:03 pm to Mung
quote:
Never took out a loan. Had no car, lived in shite apts, shared room w/other broke dudes, ate lots of ramen and Campbell's soup. Worked on campus job for extra beer money. Delayed gratification.
I took this approach...no help from parents and no loans...but that was several decades ago and the economics have changed significantly. We have helped 4 kids get through LSU without loans but our 5th is looking out-of-state so loans might be necessary. We are sticking to the recommendation of a total loan package less than 50% of the expected starting salary.
Posted on 8/3/14 at 5:20 pm to islandtiger
Going to have $120k by graduation
The good news is they're all eligible for the 20-year income-adjusted payback scheme. So starting off, my payments will only be like $200-$300/m
If I make more down the road, I'll try to destroy them. Not really feasible off the bat, though.
The good news is they're all eligible for the 20-year income-adjusted payback scheme. So starting off, my payments will only be like $200-$300/m
If I make more down the road, I'll try to destroy them. Not really feasible off the bat, though.
Posted on 8/3/14 at 5:24 pm to Acadien
I start paying mine back in September, its about $35-40k, but only at 1% so I'm seeing it as the best loan I'll ever get and not going to pay it back early as I'd rather save the money as I'll get more back than the interest on it.
Posted on 8/3/14 at 5:25 pm to kjntgr
I'm so happy I graduated debt free
Full academic scholarship FTW
Full academic scholarship FTW
Posted on 8/3/14 at 6:30 pm to kjntgr
Several years back I heard on the radio that the amount of money tied up in student loans is over a TRILLION $$$
What?!
Got one back in '96 for about $3K and mom paid it since the first 3 years of my college tuition was paid for through athletic and academic scholarships and Pell grants
What?!
Got one back in '96 for about $3K and mom paid it since the first 3 years of my college tuition was paid for through athletic and academic scholarships and Pell grants
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