Lovelyish

It sucks, but what else can you do :/

Wait till you sign the paperwork for a loan on a house!

I’m not but my bf is and probably a few of my friends will be when they get out of school. 

@babybug329@xanga -

Towards the end of school (maybe like the last 2-3 semesters) I did have to borrow some money since my parents couldn’t help me. It was overwhelming at the beginning when I took the money out since I never borrowed so much money and knowing in the back of my mind that I would have to pay it off. I started paying back the money last month and it’s not that bad for me.  They’ve given me more than enough time to pay it off, so I’m hoping to have it all paid off by maybe late 2012/2013.

Don’t get private student  loans! They’re ABSURD. Students graduate with a fucking mortgage these days.

The title is..fact.

I had to do an emergency one today at the suggestion at my school because they are taking forever verifying my financial aid. I think it’s time to transfer the eff away from them.

@galadrielspitcher@xanga - Often you can go back to school and delay having the pay student loans.  If you can’t pay your mortgage, it’ll be a matter of months before your credit goes down the toilet and you’ll have to find a new place live.  (And you don’t get back what you’ve paid already.)

@MoonFaeEyryan@xanga - I agree! It’s better to get Federal loans. Sallie Mae will rip you off, stalk you & hunt you down.

PRIVATE?! Oh God, I wouldn’t do that. Just imagine the interest you would have to pay back… Government loans are so much more lenient! Do you live in the US? Seriously, if you do, take out a Stafford loan. The payments and interest are nowhere near as crazy as private loans. I’m even taking some out this year ($7500 — the max allowed for juniors) but that’s only to cover living expenses. Get a job on the side if you can, too. 

I dont know about you guys but in Canada you have the regular student loan (borrowed from government) and on top of that they give you certain grants if you are eligible.

that really sucks, to have debt before you really begin your life…

I went to a very small university, that was the least expensive in the entire state when I started, but tuition prices went up every single year (along with the rest of the country) and I didn’t have any help from my family members whatsoever. When I finally graduated after 5 years, I’d raked up $71,000 work of studen loan debt.

That’s life, and American Society for ya. Blame the government. Our education system is incredibly screwed up.

I would say I have around $47,000 in student loan debt, the majority coming from grad school.  I know that may be a lot or not a lot at all depending on what college you go to, but it’s quite a bit for me especially considering how much debt I racked up within two years.  I was scheduled to pay over $500/mo, but I was able to reduce it to around $320/mo.  All I have to say is if you do plan on getting a student loan, make sure you major in a field with a high rate of return.

@phuck_diz_shiz@xanga - We also have government loans as well as pell grants and other grants depending on the state/school.  I’ve gotten nearly $2000/year in government grants last year.

If you happen to be 24 (or married, or any of the eligibility requirements), you can qualify as an independent on your FAFSA so they won’t calculate your parent’s income for your financial aid need (in other words, you’ll most likely have a higher need=higher chance at a government grant and need-based loans).

I used to work at my school’s financial aid office.  I don’t recommend private loans at ALL.

my history teacher in high school told our class to never pull out a loan for college..so i try my best to apply for scholarships/grants/financial aid.  even with tuition increasing ~$500-1000 a year i haven’t had to pull out a loan.  i also have a father who has been saving money for me ever since i was born.

Ohboy , I’ve never taken a private loan – those always seemed sketchy/scam-ish to me. But I have government loans.. in 10k so far. And I’m only going into second year in the fall… I’ve been told people usually take 5 – 10 years to pay off their school loans after graduating

I know everybody says not to take out private loans, but I had no other choice, unfortunately. I’m getting a master’s degree right now and have 2 bachelor’s degrees so I’m pretty much scared shitless about how the FUCK I am going to pay for all this education when I get out. I really hope the job market improves by March of 2013, because if it’s the shit circus it is right now (at least in my area), I am S-C-R-E-W-E-D.

Also, I would like to add that this is one of the reasons why “the American Dream” and “Anyone, no matter what their background is, can get to the top in life.” There is no such thing as an even playing field, especially in this economy. We do NOT live in a socially classless economy. It’s just total crap that people say to keep poor people down. When you’re in massive debt and can’t afford to save anything, all the intelligence, drive, and motivation in the world will not help you if you can’t escape debt or a bad credit record. It can take DECADES for some people to pay off their student loans. To me, education is worth it, but since my dad is a farmer and my mom is a secretary, I have funded most of my education myself. It’s a significant disadvantage over people who have had most of their way paid, have rich connections, or never had to work while in college. I’m not whining, it’s just the truth.

Gettting loans from the Government is so much better since the tax payers foot the bill if someone can’t or won’t pay the loan back. 

Ya know, it does suck.  But i think it’s part of life.  You have to work hard at some point, if not all the time.  Either you work before school and save up, or you go to school, take out loans, potentially get a good job post-grad, and then pay it off.  Either way.

@WhenHateIsTheOnlyOption@xanga -  That’s just really not true. It’s nearly impossible for any student loans, even federal ones, to go away with bankruptcy. You either have to flee the country, or die. You can defer payments, but that won’t do shit.

@Shinbi_Belldandy@xanga - Yeah, unfortunately, my bf has Sallie Mae which is horrible I tell you. I think that is why (college being too expensive and having no reason to go) college doesn’t appeal to me very much. Yeah, that kind of debt he has with Sallie Mae kind of puts a damper on any plans we may have. It makes me consider so much.

@ELIZerson@xanga - Hopefully you can. 

@eomona@xanga - I wish my bf would of thought about that before taking out private loans. Sigh. He’s still suffering from that decision and so is his parents. They co-signed a loan with him. 

For my undergraduate degree, I will have accumulated…. well, let’s just say I can buy a new Mercedes Benz SUV with quite a bit of cash left over; that I will have to pay my loans back 20 years, not 10, and the payments will be higher than for an average priced car; in order to pay it back in 20 years, I have to make six figures; or that if I want to pay it off in 5 years (as my mother suggests), it’s as much as a mortgage.  Yeeeep, it’s up there.  Worst part, I HATE that school & my college experience was less than desirable.

Not trying to throw a pity party, but I can’t vent to anyone about it because they don’t understand.  Especially my mom, she YELLS at me.

I went to community college for two years so I have no debt from there, and for my university I shouldn’t have much, if at all when I’ll graduate in two more years.  That’d be great, I would have no debt at all, except for the fact that I’m looking to go to medical school.  Trying not to think about THOSE loans.  Sheesh.

@hot_metalhead@xanga - That last paragraph you wrote was the best comment on this entire thread ha.

We are definitely socially classed.  And ninety percent of us are in the lower percentile.  Fuck this economy and fuck the big fish up top who contributed to this way of life, all throughout history and up to today.

@Xx_SCRiBBLY@xanga - You should be able to vent, though.  College is great, getting a higher education is an experience like no other, but the financial aspect of it fucking blows for SO many people.  I think it sucks even worse when you didn’t enjoy your college run… I hated my community college and wished I went to university for all four years, because I’m just finding out now that medical schools prefer those who did that instead of went to comm. coll. – plus my experience there was awful.

We are allowed to complain and bitch and moan because we get royally fucked by the system!

my thoughts on student loans -_________-.  it’s kinda inevitable to avoid so might as well enjoy and take whatever you can with what you’re going to be paying for at the end of your glorious college years.

I took out government loans, private loans, and still had to pay money each term out of my savings. :c

@hot_metalhead@xanga - ….what do you have degrees in?

DUDE GUYS WATCH THIS!!! 

seriously makes sensehttp://www.youtube.com/watch?v=VpZtX32sKVE&feature=pyv&ad=6739540474&kw=conspiracy

@vivicia - that video is incredible. So much I didn’t realize or know.. I’m honestly reconsidering finishing college at this point.

@ohforrealson@xanga - I agree!  EFC’s are totally off base & that’s what screws everyone ever.  And then loans are considered financial aid.  Pft, I didn’t know that paying back money is considered aid!  I’m sorry you’re having a hard time with medical schools because of going to a community college & on top of that you didn’t have a good experience.  I wish you the best of luck in your continuance in the medical field though

Think long and hard before taking any loans, Federal or private. You can’t get rid of student loans, even if you have no money to pay them and declare bankruptcy; the debt still stays attached to you. Currently you have to provide proof that your student loans will create a situation of “undue hardship” on you and demonstrate that you will never be able to fully pay them back; obtaining proof of “undue hardship” is extremely difficult to get. Without this certification, you can never discharge your student debt in bankruptcy, no matter how poor you are.

This is also another reason why students taking out massive loans should think twice before picking a major solely because they “love it” and should take a career development course before declaring a major. If you’re going to go deep into debt before you even graduate, you better be picking something that at least gives you a decent chance to find a job that will help you pay off your loans. The only people who can afford to pick majors based solely on interest these days are rich kids with full rides to college and even they shouldn’t be picking willy-nilly.

Don’t do it if you can find any way around it. Student loans are an anchor around the necks of far too many folks and it’s really sad to see.

@Xx_SCRiBBLY@xanga - Lol honestly it’s just troublesome.  Thank you very much!  I wish you luck as well

I took a personal loan, and I made sure to understand the terms before I signed.  My interest rate is comparable to the federal loans, but that’s because I established credit and didn’t rely on a co-signer.  That loan will be paid off shortly, then it is time to pay off the federal ones 

There are so many ways to go to college for free, but you have to really know where to look and talk to.

@ohforrealson@xanga - lol…thanks!  Glad someone appreciates (and agrees with) my little rant.  At least I got decent writing skills out of the whole deal

@annamariuhh@xanga - My first one was in music (clarinet performance).  I was extremely naive and realized (too late) that my job options were VERY limited.  If I could pay my bills by being a musician I would, buuuut…yeah, kinda doesn’t work that way.  My other bachelor’s degree is in web development (much more useful) and I”m working on an MBA right now. 

I’m really fortunate that my parents are more or less paying for my college education at a 4-year university (and my brother’s as well). However, when I signed all did all of the official stuff for my small subsidized loan of $3500, yeah it was pretty intimidating.

My dream school is Wesleyan and currently I am attending a junior college in hopes of transferring there next year as a sophomore. This whole semester I only paid about a $1,700 for 5 classes, it would’ve been way cheaper but for some reason they still consider me out of state in Texas. Anyway, the fact that my yearly tuition will be over $50,000 if I get admitted to Wes as opposed to about $3,400 at my current college is mind boggling. I’m receiving a good amount of aid from fafsa and I also qualify for the stafford loan but that is nowhere near enough for Wesleyan’s tuition! I’m just keeping my fingers crossed that they offer me grants/awards, otherwise private loans are my only option

YES. I will be graduating in May with $40,000 in student loans, then my husband will be starting school and racking up a couple thousand more :/ I’m terrified of what the monthly payments will be. Too bad I don’t have like $6000 just laying around to give to my school every 6 months or so…

@hot_metalhead@xanga - Well, there you go :p

@MoonFaeEyryan@xanga - Not only that, but they don’t even get the house..

@phuck_diz_shiz@xanga - yeah, it’s the same in England. The American system really confuses me!