Student Debt. Wat Chu Got?

[Alazais]

How much did you rack up in student loans by the time you were done school?
- If you haven't completed school, how much do you expect to owe by the time you've graduated?

What kind of job do you have now?
-Is it what you thought it would be when you graduated?

What age are you now?

What age do you expect to have your student loan paid back?

I'm sorry if some of these are to personal. It's something that's been eating away at me for sometime.
I'm hoping that with some perspective of those that have travelled the road I can make my journey a little less painful.

Thanks to those who participate. I really appreciate it.

[Tiduwho]

Ok, serious serious question. When you take out FAFSA student loans, you take one out each year. Split evenly between both semesters. These loans have their own account numbers. NOW:

Is it possible to pay off a particular FAFSA loan from a specific year? In my case, my last two years of college.


Why I ask:

I'm 24. My first two years, the FAFSA loans are on a variable rate. With rates so low, they are kick ass. How about 2.23%? Not bad. I'll take it. I'll let these loans stick around on my books no problem. However, FAFSA got smart and my last two years, they are fixed rate at 6.50%. Fixed rate would normally be fine right there, but considering how great a spot I'm in the first two years, what I want to do is payoff with my tax refund this year....my senior year loan. I've got $20k total in student loans, round about.

When you set up your student loan payments, each payment is spread evenly across all 4 loans. If I went online to do "prepay" and payoff a big chunk of money, again, the only option is the default option, which will spread the money evenly across all 4 loans. This is how the system works by default.

What I want to know is, can I voluntarily call them or something, and payoff just my junior and senior year loans? And keep my Fresh/Soph loans that are at 2.2% chilling out there?

PLEASE HELP, because Jesus H. Christ, the numerous government student loans sites faq's etc do not help worth a damn.

[tankdan]

Since I am a sick bastard and take great pleasure in crunching these numbers, I will oblige:

When I graduated in 2007, I had: $72,670

I currently have: $52,500

I will finish paying them off in 4 more years, in February 2014.
Which will put me at 29 years old.

Woot!

I started out by paying the minimum, then I've gradually bumped up my payments until now I pay $1200 a month.

Across five loans, I have interest rates of:
3.89%
4.50%
4.75%
4.75%
6.80%

Also, I am a dog walker... maybe not the job I thought I'd have when I started college (woulda picked a cheaper college!), but by the time I graduated, I was working part time dog-walking and switched to full-time.

Dan

[spoot388]

i'm currently in college (1 more year to go). is there a website i can go to to check exactly what i have to pay? my school is only about $10,500 a year, and i know some of that is cut down from grants, but i don't know how much exactly.

[Tiduwho]

Originally Posted by spoot388

i'm currently in college (1 more year to go). is there a website i can go to to check exactly what i have to pay?

Yes....ummm...I always forget it though. Dl.edu or something......

[spoot388]

Originally Posted by Tiduwho

Yes....ummm...I always forget it though. Dl.edu or something......

google ftw!

dl.ed.gov



right now it says i have $14,000 for a principle balance after 4 years. the last 2 years it shows $1,000 for each semester. so if that keeps up, i should only have about $15,000 when i'm done next fall. says i have a fixed payment of $164.53. i would be able to pay more than that though to get it paid off quicker, right? either way, not bad. i could live with 15k. rates are around 6.4% though

[DavefaninNZ]

I really don't want to say. Really don't want to think about it till after i finish.

[PilotC150]

Zero. Inheritance from Grandma paid for everything. It's excellent.

[jkrue22]

Nada... thanks Air Force!

[Tiduwho]

Originally Posted by PilotC150

Zero. Inheritance from Grandma paid for everything. It's excellent.

Fuck you and.....

Originally Posted by jkrue22

Nada... thanks Air Force!

Fuck you.



K all done here.

[jkrue22]

Originally Posted by Tiduwho

Fuck you and.....



Fuck you.



K all done here.

I owe the military basically my entire young adult life (13 years when it's all said done, several of which could be in some godforsaken corner of the world) and I missed out on a "normal" college experience... but I got a kickass education for free and at least it's a guaranteed job!

It's all about the choices you make...

[Tiduwho]

Originally Posted by jkrue22

I owe the military basically my entire young adult life (13 years when it's all said done, several of which could be in some godforsaken corner of the world) and I missed out on a "normal" college experience... but I got a kickass education for free and at least it's a guaranteed job!

It's all about the choices you make...

aGreed.


Bad choices.

Fuck bitches, get money = college. Don't let anyone convice you diffrent.

[jordanbball17]

I'm 18 right now, start college at Seattle University in the fall.

Cost: around $39,000 per year...
Scholarship: $16,000 each of the 4 years.
Which equals around $22,000-$23,000 left, which my parents can pay in full.

Expected student debt after graduating from a private university: $0.

[Tiduwho]

Originally Posted by Tiduwho

Ok, serious serious question. When you take out FAFSA student loans, you take one out each year. Split evenly between both semesters. These loans have their own account numbers. NOW:

Is it possible to pay off a particular FAFSA loan from a specific year? In my case, my last two years of college.


Why I ask:

I'm 24. My first two years, the FAFSA loans are on a variable rate. With rates so low, they are kick ass. How about 2.23%? Not bad. I'll take it. I'll let these loans stick around on my books no problem. However, FAFSA got smart and my last two years, they are fixed rate at 6.50%. Fixed rate would normally be fine right there, but considering how great a spot I'm in the first two years, what I want to do is payoff with my tax refund this year....my senior year loan. I've got $20k total in student loans, round about.

When you set up your student loan payments, each payment is spread evenly across all 4 loans. If I went online to do "prepay" and payoff a big chunk of money, again, the only option is the default option, which will spread the money evenly across all 4 loans. This is how the system works by default.

What I want to know is, can I voluntarily call them or something, and payoff just my junior and senior year loans? And keep my Fresh/Soph loans that are at 2.2% chilling out there?

PLEASE HELP, because Jesus H. Christ, the numerous government student loans sites faq's etc do not help worth a damn.

Is this possible?


I mean really, isn't anyone actually paying their student loans off? Does anyone even pay attention to their interest rates? I mean, I know I work in loans, but Jesus Christ, it's like no one even gives a shit how much they're getting f'd or not and just willingly plays it all evenly across all their loans....with no consideration to the different rates between different years...

[haybale97]

my guess is around 20,000. i got a full scholarship which paid for tuition, then i had to pick up room n board after that, which i could pay all but 2,000 a year. but my last semester, which will be my 9th with not be paid for but i can get other scholarships to help with that so i'm assuming i'll have to take out 10,000 for the remainder of that semester. could actually be less now that i think about it.

but this is just undergrad, i don't want to think about how i'm going to pay for grad school

[boston~c]

Originally Posted by Tiduwho

Is this possible?


I mean really, isn't anyone actually paying their student loans off? Does anyone even pay attention to their interest rates? I mean, I know I work in loans, but Jesus Christ, it's like no one even gives a shit how much they're getting f'd or not and just willingly plays it all evenly across all their loans....with no consideration to the different rates between different years...

If you are talking about Federal Stafford Loans, you can call them and ask. 1-800-848-0979.

I paid off my loans a few years ago but I still had the number. Go figure. I remember them being easy to work with as well.

I can probably find the website to send them an email if you want it...

[2step8]

50k

I'm a photographer at a newspaper and I have my own freelance business. Nearly all profits from my freelance work goes directly to my loans. And yes, it's what I thought I would be doing as I went to school for photojournalism.

I'm 24

I hope to pay it off within 5 years. I graduated in 2008.

[smokew11]

i just graduated..i have a general idea of how much i owe but im afraid to look ha

[gocubsgo3822]

None.

[GrooGrux420]

If I can maintain my GPA, Ill have to pay practically nothing. I think somewhere in the ballpark of $10,000 after 4 years ($32,000 a semester). Thankfully those are just subitized loans, and were really only taken out to to hit up more shows...

[nieds05]

Originally Posted by Tiduwho

Ok, serious serious question. When you take out FAFSA student loans, you take one out each year. Split evenly between both semesters. These loans have their own account numbers. NOW:

Is it possible to pay off a particular FAFSA loan from a specific year? In my case, my last two years of college.


Why I ask:

I'm 24. My first two years, the FAFSA loans are on a variable rate. With rates so low, they are kick ass. How about 2.23%? Not bad. I'll take it. I'll let these loans stick around on my books no problem. However, FAFSA got smart and my last two years, they are fixed rate at 6.50%. Fixed rate would normally be fine right there, but considering how great a spot I'm in the first two years, what I want to do is payoff with my tax refund this year....my senior year loan. I've got $20k total in student loans, round about.

When you set up your student loan payments, each payment is spread evenly across all 4 loans. If I went online to do "prepay" and payoff a big chunk of money, again, the only option is the default option, which will spread the money evenly across all 4 loans. This is how the system works by default.

What I want to know is, can I voluntarily call them or something, and payoff just my junior and senior year loans? And keep my Fresh/Soph loans that are at 2.2% chilling out there?

PLEASE HELP, because Jesus H. Christ, the numerous government student loans sites faq's etc do not help worth a damn.

I work for a large student loan company that only services Federal Student loans and what you have to do to pay off the higher interest rates with us is call and i believe talk to them about it, and there is a special payments process where you have to send in your money and specifically state which loans you want it to go to.

[JRod1229]

Graduated with about 10k in loans (HOPE scholarship FTW).. probably got around 7k left.. don't do anything but the minimum however (2.5%) so never feel the need.

Looking into going to get my MBA though, and that would add probably 20k on top of that unless I was able to get an assistantship. So we'll see.

[SeanMH]

I just graduated in December and I have zero debt from school, b/c my parents had set me up for the Florida Pre-Paid plan.

[rconverse]

I just finished paying mine off!!

[Alazais]

Originally Posted by rconverse

I just finished paying mine off!!

congrats. Do you mind answering my questions? It would really help.

Edit: Diddle that FREE hooker already!

[rconverse]

Originally Posted by Alazais

congrats. Do you mind answering my questions? It would really help.

Edit: Diddle that FREE hooker already!

Sure. I think I racked up like 30k in loans. I paid it over the full ten years, hence just making the final payment at 33. My starting salary was well below that of average college grads at te time. I started at 24,500/year, whereas most recent grads started at 33-36k. It took me about 18 months to catch-up to what others my age were making. Nowadays I make pretty decent money, but am just starting to realize what my income could be if I really applied myself. I am trying to get into Kellogg, so if/when that happens I'll be right back in debt again, but hopefully worth it.

[Speilmen230]

None. Parents are paying for it.

as long as i can get off Double-Secret Academic Probation.

[rconverse]

Oh, and I'm a business analyst. I don't think I had any idea what I wanted to do when I graduated.

[nieds05]

Originally Posted by spoot388

i'm currently in college (1 more year to go). is there a website i can go to to check exactly what i have to pay? my school is only about $10,500 a year, and i know some of that is cut down from grants, but i don't know how much exactly.

You can check nslds.ed.gov it will give a summary of all the Federal Loans you have taken out and who is servicing them

Originally Posted by Tiduwho

Yes....ummm...I always forget it though. Dl.edu or something......

you are thinking of dl.ed.gov, It will probably link you to nslds, not all federal student loans are held by Direct Loans, the way things are going now most newer ones are, but like I said NSLDS will give you information on all federal loans you have taken out regardless if it was in the FFELP program or Direct Lending program

[Alazais]

Originally Posted by rconverse

Oh, and I'm a business analyst. I don't think I had any idea what I wanted to do when I graduated.

What did you graduate with, Brosef Stalin?