Have you payed off your college loans?

[BillyVance 34]

My wife got a full ride scholarship to graduate school, where she got a Masters degree, with the caveat that she serve at least 5 years in her field of study for a state agency. So... 3 more years to go to pay that debt. Not to worry though, she loves the job.

"Mediocre people don't like high achievers, and high achievers don't like mediocre people." - SIX TIME National Champion coach Nick Saban

[mailin 0]

Just finished my degree - no loans.

Took 6 years to get it because I worked full time, but my work paid for all of my courses and books.

And its SO danm good to be done!!!


Jen

Arianna Frances

[Slappie 9]

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Thank God for the National Merit Scholarship Program and the stress that some schools place on the number of National Merit Scholars they have attending. Because of them, I got paid to go to school.

That was me until I found beer..

"Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them."

[blueskyserenity 0]

FYI

For all of us who are still paying, consolidate NOW!!! Interest rates locked as low as 2.8. An clip from an article from the Chronicle of Higher Education today

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The U.S. Education Department announced on Monday that it will, for the first time, allow hundreds of thousands of students to consolidate their federal guaranteed loans while they are still in college.

The department's decision is big news for these students, as it will enable them to lock in historically low interest rates over the lives of their loans, and save thousands of dollars, before the rates are reset in July. Federal budget analysts project that the rates -- which are now as low as 2.8 percent -- will jump by as much as two percentage points on July 1, and will continue to grow over the next several years.

I like coconuts. You can break them open and they smell like ladies lying in the sun!

[pyke 0]

I've been out about 5 years...and I'm about 18 months from $0....but that's just in this country...


...I haven't even begun to think about my NZ student loans...which has had the juice turned on since I left...and I'm getting hit for out of country fees by the '000s!!!! Freakin' government rip-off artists!!

I had a scheme to get it all paid off, but I think "W" just put an end to that last month!!

My sister always said..."debt is something you carry around with you in your pocket...." I know it's there - I hear it jingling when I move...and it will probably always be the on my back, but oh well - it still hasn't stopped me from enjoying many of the finer things in life!!!

Kahurangi e Mahearangi,
Kiwi, RB #926, AFF-I, FAA Snr. Rigger, RN/BSN/Paramedic

[Muenkel 0]

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And a new tuck in the near future

You can use a student loan for plastic surgery?

Chris

[Acensky 0]

HA HA HA woops

What I ment to say was TRUCK not tuck, I like my body, thank-you-very-much!


Heather

Garbage bags do not make good parachutes.

[Muenkel 0]

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HA HA HA woops

What I ment to say was TRUCK not tuck, I like my body, thank-you-very-much!

I did know what you meant, but I couldn't resist.

As for your body, I'll take your word for it. It would help though if you posted some pics.

Chris

[skydiverbc 0]

i accumulated around 45,000 dollars worth of school loans, gotta love xavier universtiy

most of its paid off though i think the total left is around 8,000

[SkydiveNFlorida 0]

For those who felt their options were missing in this poll, I left out I just got out of college & I didn't go to college for a reason. If you just got out, you likely haven't payed your loans and you haven't had enough time to make a judgement on whether you feel you'll be in debt forever. And, this is a thread about how long it took to pay college loans, so those who didn't attend college are exempt from the poll.

Thanks for the replies. Wow! A lot of people are in debt.

Missy, is it just Nova that costs that much or all med schools? I know you will be a great doctor, are you specializing?

I didn't vote because i'm still in school, but I have taken loans and will be probably be about 45k in debt when i'm done with my undergrad... have no idea on grad school.

Kudos to those who worked through college! I don't think i'll be able to handle that for the remainder, but I did work through the first 3 years of undergrad... I still have about 2-3 years left, so it'll be a 6 year undergrad degree as is. I have decided to live on loans for the last 2-3 years in order to focus on what is important.

Angela.

[swedishcelt 0]

I received some scholarships and grants and loans. I worked fulltime throughout my entire education as well as attended fulltime as well. (18 credits usually + summer school) I have actually been working 25+ hours a week since I was 15 yrs. old. I have paid off my entire ungraduate degree myself without financial help from family. I am currently paid off so far for my Master's Degree as well. I have received much emotional support and encouragement from family and friends though. I plan on going on all the way through Ph.D.

[mcarchangel 0]

I went through undergrad at a state school using the G.I. Bill and working, so I didn't owe anything. The bad news is I'm going to a private law school (Chapman) and my scholership was only good for a year, so I'm going to be up to my eyeballs by the time I'm done.

-------------------------------------------------------
"These are the old days, the bad days, the all-or-nothing days. They're back! There's no choice left, and I'm ready for war."

[livendive 8]

I worked my way through school and occasionally received tuition reimbursement from my employers. This meant I didn't have to take much in the way of loans and I paid them off before I graduated.

Blues,
Dave

"I AM A PROFESSIONAL EXTREME ATHLETE!"
(drink Mountain Dew)

[ladyskydiver 0]

Where's the option of:

Still paying off my existing one and soon to add a whole lot more?

God, I hope I get my existing one paid off before fall.

Life is short! Break the rules! Forgive quickly! Kiss slowly! Love truly, Laugh uncontrollably. And never regret anything that made you smile.

[SkydiveNFlorida 0]

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Where's the option of:

Still paying off my existing one and soon to add a whole lot more?

God, I hope I get my existing one paid off before fall.

Are you 5 years out? 10 years out? If not, then I think that falls under the n/a catagory of this poll.

Best of luck to you! Where are you studying?

-A

[ladyskydiver 0]

I checked 5+ years out of my first degree and paying for it.

I've already started summer school and paid for that class. Fall is when I'm taking loans out.

This new degree will be Doctor of Veterinary Medicine. It's going to be 6 years worth of studying (and I won't even think about the money aspect of it **shudder**) but will be worth it in the end.

Life is short! Break the rules! Forgive quickly! Kiss slowly! Love truly, Laugh uncontrollably. And never regret anything that made you smile.

[SkydiveNFlorida 0]

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This new degree will be Doctor of Veterinary Medicine. It's going to be 6 years worth of studying (and I won't even think about the money aspect of it **shudder**) but will be worth it in the end.

That's the spirit, rack it up!!

Good for you, I love animals. I thought about going into Marine Bio but the money wasn't good enough so I decided i'd keep and explore reefs in my free time when I have more money. Veterinary work pays better, that's for sure.

-A

[tsampson 0]

I racked up an enormous amount of student loans in law school. Tuition at a state school would have been nominal in comparison, but I went to a private school to stay close to family. No regrets there.

Now I am doing government work that pays crap, but that I feel is very important. I voted "I'll never pay off my loans."

[Nightingale 0]

Graduated college in 1999. I've paid the interest on my student loans, but that's it, mainly because I'm still in school.

[skymama 37]

Here's an article from the paper todat about consolidating Stafford Loans.



Link
Students with Stafford loans could get break
By Justin Pope
The Associated Press

May 18, 2005

A quiet announcement by the Department of Education this week could translate into thousands of dollars of savings for student borrowers by allowing them to consolidate their loans before rates rise July 1.

The announcement applies to students with government-backed Stafford loans from banks or commercial lenders. Students who borrow directly from the government have always been free to consolidate while still enrolled, but until this week, it was unclear if borrowers from commercial lenders could, too.

The discrepancy was no big deal in the past because students were in no rush to consolidate loans. Interest rates were falling, and the price of consolidating -- students must forfeit a six-month grace period after graduation before repayment is required -- wasn't worth it.

This year, however, interest rates for students still in school are expected to rise from the current 2.77 percent to as much as 5 percent when the new rates are announced July 1.

By consolidating, students will still forfeit the grace period -- but some may save thousands of dollars by locking in the lower rates.

Even before this week's announcement, many students and banks were interpreting federal guidelines as allowing students to begin their repayment period while still enrolled -- thus making them eligible to consolidate.

And on Monday, the department gave a formal green light to the practice.

The Department of Education said Tuesday that, as of April 1, there were 5.7 million borrowers with outstanding loans from private lenders who were either in school or in the post-graduation grace period.

The College Loan Corp. estimates the average borrower with $20,500 in debt -- the average amount consolidated last year -- would save more than $2,100 over a 10-year loan by consolidating now, based on the most recent interest rate estimates.

Experts caution consolidation is not for everyone given the forfeited grace period and the risk that interest rates could decline in the future. If so, students might regret locking in at a higher rate.

Assistant Secretary for Postsecondary Education Sally Stroup said it's impossible to say how many students in the Federal Family Education Loan Programs would take advantage of the new guideline. She said those with the most debt would likely find the opportunity the most attractive.

"Particularly for students who are in graduate school, people with a high balance, it would make a difference," she said.

But Brett Lief, president of the National Council of Higher Education Loan Programs, said it may make sense even for some underclassmen -- particularly people who have borrowed a lot-- to take advantage by consolidating and then asking for a deferment on payment until they are out of school.

He urged students to get counseling about what decision is best for them -- and to remember that lenders must have applications for consolidation in hand by June 30.

She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon

[blueskyserenity 0]

Thanks for the article Andrea.

If you're married and your spouse has student loans you can consolidate them as well, all at one nice low locked interest rate. No more multiple payments.

I like coconuts. You can break them open and they smell like ladies lying in the sun!

[rmsmith 1]

Here's a search that describes the plight of Generation Broke