student loans

i might quit my job. i actually have two jobs. one of them i will keep because i can work pretty much whenever. the plan was to pay for school myself and finish with no debt. if i quit my job i'll have to get a loan. either way my money is already spent before i make it. this way i wont be spread so thin. i will keep my debt as low as possible and pay it off soon after school. i estimate $30,000. not too bad.

 

don't become one of those OWS idiots

 

occupy wall street?

lol..

 

try to only get subsidized loans, so they don't accrue interest until after you graduate

 

I used mine to buy my first 4x4 truck :driving:

I also paid back every cent

 

i've never been in debt more than $1,000 before

 

My wife attended college for years, until they shut off the loans. I think they cut off the money at 60,000.00. Now, with penalties and interest, it's up to a hundred thou I'm betting. She hides from the phone.

It's just life's circumstances, fucking up our credit rating,,lol.


And she never even got a degree. She couldn't pass "statistics", even after three tries,,

 

Being in debt sucks.

Depending on how long it takes you to pay off that loan, you could be paying 20-100% of the face value of the loan by the time you're done. If not substantially more.

 

what?

 

It's called compound interest.

 

you could spend more on a new car but with an education you get more out of it. do it

 

i know the formulas for compound interest forward and backward.. there are loans where the interest doesnt start adding up till after graduation. i only have to get loans for my last two years anyway, and i will get a gravy job once i finish school

 

that's what i think really.. there are college professors w/ quarter mil in student loan debt. then there are ppl i know in humongous house debt that will never pay for itself :afro:

 

If you're sure about the gravy job and your ability to pay it off quickly then go for it.

I paid for my college out of pocket, my class on interest rates guaranteed that I didn't take out a loan after I understood what it was all about.

 

It's called "Highway Robbery",,

 

as long as you are making equity it's worth it

 

think of it this way. work a job to pay for school. OR get a loan and get a higher paying job to pay off loan.

so a good paying job combined with a low interest loan that does not accrue interest until graduation, and paying off loan quickly does make sense. plus im not spread so thin going to school and working

 

Going to college is all about getting you in debt while you're young, so you'll more than likely be in debt for the rest of your life. That's why there is such an emphasis on college these days. If I thought the education college provides is worth it, I might have went beyond a mere Associates Degree. But, it's not.

 

I should be able to get through these first four years with little to no debt. I managed to get all of my room and board along with tuition paid for with scholarships that, as long as I keep up my GPA, will be there for 4 years. All I'm paying for at the moment is a meal plan, and we had some money saved up from when my dad took a buy out that Chrysler offered him a few months before they closed the plant he worked at. Of course, the college I'm going to hands out scholarships like candy on Halloween.

A word of warning, be careful with loans. I was told that most of them won't go away, even if you file for bankruptcy like most debt will. Any one else have any definite info on this? I may be completely wrong.

 

ok dude, you just keep working security at the nursing home as the years tick by..

that's true. the plan is to keep the debt manageable and get rid of the debt by paying it off quickly, not filing bankruptcy.