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jwasafrog On September 18, 2010




, California
#1New Post! Mar 13, 2008 @ 20:50:26
All right guys, I'm just gonna ask what your general experience with paying for college has
been like.

Right now I'm looking at students loans because they really seem to be the best way to pay
for college, but the idea of having thousands of dollars in debt before I'm even out is not a
fun prospect. Especially since my chosen profession doesn't make very much straight out of
college.

Nevertheless they seem like the best option.

So, who of you had student loans? How did you deal with paying them off? Would you do
anything differently with the knowledge you have now?

Any perspective on all this money business is welcome.
iliterate_enginere On February 12, 2010

Deleted



Wichita, Kansas
#2New Post! Mar 13, 2008 @ 21:02:25
Don't go with a variable interest rate loan if you can help it. It will seem like a great deal since the interest will be so small,but once you graduate it will double. Better to have lots of loans, than to drop out of college. You can select your own repayment plan too, usually. 10-30 years plans.
jwasafrog On September 18, 2010




, California
#3New Post! Mar 13, 2008 @ 21:04:47
@iliterate_enginere Said
Don't go with a variable interest rate loan if you can help it. It will
seem like a great deal since the interest will be so small,but once you graduate it will double.
Better to have lots of loans, than to drop out of college. You can select your own repayment
plan too, usually. 10-30 years plans.


Thanks, yeah, the standard loan I'd be looking at is fixed rate at 6.8 percent over 10 years.
Of course, I really don't have any experience with loans so I have no idea how good or bad
that is.
stumblinthrulife On April 16, 2008

Deleted



Lake Saint Louis, Missouri
#4New Post! Mar 13, 2008 @ 21:05:34
@jwasafrog Said
All right guys, I'm just gonna ask what your general experience with paying for college has
been like.

Right now I'm looking at students loans because they really seem to be the best way to pay
for college, but the idea of having thousands of dollars in debt before I'm even out is not a
fun prospect. Especially since my chosen profession doesn't make very much straight out of
college.

Nevertheless they seem like the best option.

So, who of you had student loans? How did you deal with paying them off? Would you do
anything differently with the knowledge you have now?

Any perspective on all this money business is welcome.


I wish I had heeded what my mother told me - never a borrower nor a lender be.

Or at the very least I wish I had borrowed the bare minimum needed to survive. Imagine working your a** off every day just to pay a substantial amount of money every month for some drunken git of a student to live it up. That's exactly how paying your student debts feels once you're out in the big bad world.

If I met 20 year old me, I'd punch me on the nose.
dustymoon On March 17, 2008




Fort Worth, Texas
#5New Post! Mar 13, 2008 @ 21:30:39
My best friend got the normal Stafford Loan from FAFSA to pay for the tuition of 40K/year at Nova. Then she got a Sallie Mae loan which is a private student loan with the same interest rate as you and its deferred. She wont pay any of it back til a year after she graduates. That loan covered her cost of living which was 11k per semester for things like the car payment, apartment, and other general living expenses.
jwasafrog On September 18, 2010




, California
#6New Post! Mar 13, 2008 @ 21:31:33
@dustymoon Said
My best friend got the normal Stafford Loan from FAFSA to pay for the
tuition of 40K/year at Nova. Then she got a Sallie Mae loan which is a private student loan
with the same interest rate as you and its deferred. She wont pay any of it back til a year after
she graduates. That loan covered her cost of living which was 11k per semester for things
like the car payment, apartment, and other general living expenses.


Thanks, i was actually looking at Sallie Mae as a prospective lender.

oh and @ Stumblin, that's exactly what i'm afraid of!
stumblinthrulife On April 16, 2008

Deleted



Lake Saint Louis, Missouri
#7New Post! Mar 13, 2008 @ 21:36:50
@jwasafrog Said
oh and @ Stumblin, that's exactly what i'm afraid of!


Just keep that thought in your head. That everything you borrow for you'll be paying back long after you aren't even using it anymore. And that working for an hour (or two, or whatever your wage requires) just to pay for a night out you had 7 years ago sucks ass.

That might help you keep your spending under control!
musclegeek On April 03, 2008




Menifee, California
#8New Post! Mar 28, 2008 @ 03:37:21
Student loans ain't so bad. Very low interest rate and it help you build a career. If you're thinking of going to college, student loan is definitely the choice to go. Try filling as an independent so you'll get more money from the state and federal government. Make sure to file FASFA (I think that what is it called). Paying for student loan is better than paying off credit cards debts because the interest rate is very low.
osm On March 18, 2016
Kiwi!





Wellington, New Zealand
#9New Post! Mar 28, 2008 @ 03:45:06
I've got a student loan. I know how big it is probably going to get and know how hard I have to work over the long hot summers to be able to afford to go to university.

Of course i'd rather be at the beach, but I need the money.

And as everyone else is saying, make sure you only borrow what you need. Cause with interest, every dollar counts.

The idea of the student loan is the fact you're spending money, enabling you to be able to earn more when you come out on the other side. You only make money be spending money. Proves that theory true

Everyone moans and whines about how it used to be free, and now it isn't and it should be and so forth. But going to university has changed now. Its not just for the elite, anyone can go provided they have met the criteria. And its not that difficult to meet!
harrie85 On August 08, 2008




Bury St Edmunds, United Kingdo
#10New Post! Apr 25, 2008 @ 12:25:24
The way i see it is there are thousands of people graduating in exactly the same position, and the repayment plans are normally quite good on student loans, you hardly notice the money going out.
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