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How much undergraduate loans did you have? I own $22K total
$0 (scholarships and parents) , but I think the average is around $25,000 so you're not alone by any stretch. Federal loans shouldn't be too bad, but private ones can be very inflexible...
*Thank you, Katrina! I couldn't live at home. We did not have money to rebuild. This happened a few months after I graduated from high school. Even though I got funding toward my undergraduate degree, I still had to take out money for housing. Had I been wiser, I could have saved a lot in this area, but being young and naïve, I opted for the dorms and didn't really consider my other options, especially after having bad experiences living in the seedy part of town.
*I did not qualify for scholarships, because I wanted to major in Education, and the college I went to did not provide a lot of options for scholarships outside of its preferred Business and Medical degrees. I also earned no outside merit funds due to a less than stellar high school GPA, partially from stress and anxiousness related to being bullied and partially from taking challenging subjects that I didn't complete with high enough marks.
*I changed my major more than once and ended up taking a lot of courses that I didn't really need.
*Money really wasn't valuable to me back then, and my parents thought nothing of my high debt.
*Upon graduating, I found finding a job with a bachelor's pretty difficult, so I decided to stay in college for another two years and had to take out student loans to cover it.
*I did not have even a part-time job as an undergraduate.
*I again took courses that I did not need.
*I took my internship course twice.
*I moved a few times to try and get the best rental rates.
Overall, I'm not proud of my school-related financial decisions. I think I would have benefited from having the guidance of a financial planner. As it stands, I will have quite a bit to pay back when I graduate and finally do get a decent job. I don't regret my college experience, however, even though I could have made more of it.
You guys with 22k are actually not doing too poorly. That's a car loan. If you really buckle down you can pay that off in 4 years before you get set in your family life. I have 11k remaining out of an initial 17k.
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