alexsmom0501 is offline alexsmom0501 Post #1  September 17,2008, 11:41am
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I would like to hear from you graduates on how the student loans are going. I have 2 years of school left and the student loan thing is scary! I will owe about $30,000 when I am done. If you don't mind sharing what are your payments and interest rates like? How are the payment plans structured?
 
 
brownize916 is offline brownize916 Post #2  September 17,2008, 4:13pm
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I was lucky in that I got my student loans when rates were really low. I have a 2% interest rate on my loans. I will be paying $250 a month for quite some time. But it is worth it. I value my education greatly and gladly write that check every month.


If you consolidate your loans they usually provide options for how long you want to take to pay it off (of course the longer the more interest you pay) depending on the company you go with.Mine is over a 20 year period I think but I'll pay it off much sooner than that.
 
 
alexsmom0501 is offline alexsmom0501 Post #3  September 18,2008, 11:32am
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brownize916,262363 wrote :

I was lucky in that I got my student loans when rates were really low. I have a 2% interest rate on my loans. I will be paying $250 a month for quite some time. But it is worth it. I value my education greatly and gladly write that check every month.


If you consolidate your loans they usually provide options for how long you want to take to pay it off (of course the longer the more interest you pay) depending on the company you go with.Mine is over a 20 year period I think but I'll pay it off much sooner than that.
Thank you! That makes me feel better. I grit my teeth every time I see those Citi-bank statements in my mailbox.[img]library/editor/plugins/emotions/img/smiley-sealed.gif[/img] They told me the highest interest rate is 8%. I won't have to start paying for another 2 years, but I still worrybecause I am crazy like that. I am one of those people who has EVERYTHING planned years in advance. I bought a new car a year ago and my plan is to pay it off by the time my loans are due. That way I can put that $380/month towards my loan. Plus I will be making considerably more than I am now so I should be ok.
 
 
lookingforward is offline lookingforward Post #4  September 19,2008, 10:36am
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Since I'm going to "try" to keep taking classes to finish up my second degree, I can keep pushing off my payments until I stop taking classes. This is the last semester I am eligible for F.A., I'm WAY over on credits already, and have had to appeal my F.A. for the past 2 semesters.


As for my payments, I think they will be around $420 each month. Sure would be nice to get the money some people owe me, about now....ugh..
 
 
alexsmom0501 is offline alexsmom0501 Post #5  September 19,2008, 10:55am
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lookingforward,264224 wrote :

Since I'm going to "try" to keep taking classes to finish up my second degree, I can keep pushing off my payments until I stop taking classes. This is the last semester I am eligible for F.A., I'm WAY over on credits already, and have had to appeal my F.A. for the past 2 semesters.


As for my payments, I think they will be around $420 each month. Sure would be nice to get the money some people owe me, about now....ugh..

That happened to me too! My SA overbooked me in classes so now I have to drop one class to meet my financial aid requirements. Well, either that or pay $1000 for the class which I cannot do.
 
 
Kestral is offline Kestral Post #6  September 28,2008, 6:27pm
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My schooling wasn't as extensive, so the debt wasn't as high, I established a line of credit and used it, andI paid it off as fast as I could.Only to find out that about a third of the people who were in class with me got grants to be there. I had a job you see, so I didn't qualify. But you know what, I'm glad I paid out of my pocket because I could and did.
 
 
 


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