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I graduated with a BS in Biology with just under 20k in debt in 2011. Two years later I graduated with a BS in Clinical Laboratory Science to get actual job skills. I graduated with around 40k in debt and paid my loans aggressively (worked night shift for 3 years, multiple jobs for over a year). I just paid off my last student loan today, 7 years after my first degree and 4.75 from my second.
How long did it take for you all to pay off your student loans and what was your major?
Congratulations! Wasn't it a great feeling to hit that submit button one last time or mail in that last check!?!
Cumulatively, it took me 14 years to pay off every loan. I earned a BA in Journalism and Mass Communications (which I never used) in '04 and it took several years to pay off $11K in undergraduate loans--I think I paid it off in 2010 or 2011. I enrolled in grad school in '08 and graduated in '10 with a Master of Education. I paid off my $48K in graduate loans back on March 24 (I will never forget that day) and was proud to pay it off in 7 years. After I paid my car off in 2012 and paid off my undergrad loan/nursing school loan, I devoted my energy to my grad loan--I doubled my payments each month, and I also worked a few second jobs over the years and took on extra work at my full-time job to pay it off. Fourteen years after finishing undergrad, I am now student loan free after paying over $60K back between undergrad/grad school and some other school-related ventures I started but didn't finish (early mid-life crisis, I guess).
Being the professional student I was for a while, I also gave nursing school and business school a shot, enrolling in nursing school full-time for a few months about 11 years ago, and business school 2 years ago. I didn't stay in either program for more than a semester.
I have no plans to return to school and think I'm set in my career and don't ever plan to take out a student loan again. Time to buy a new car and a house!
I graduated with a BS in Biology with just under 20k in debt in 2011. Two years later I graduated with a BS in Clinical Laboratory Science to get actual job skills. I graduated with around 40k in debt and paid my loans aggressively (worked night shift for 3 years, multiple jobs for over a year). I just paid off my last student loan today, 7 years after my first degree and 4.75 from my second.
How long did it take for you all to pay off your student loans and what was your major?
CONGRATULATIONS!!!
It took me about 4 yrs to pay off my first degree. I went back to school for a graduate degree a few years ago and graduated with a $30k federal loan to repay (interest included). This loan is on a 10 year repayment plan. I've been paying for 2 years so far, 8 more to go. I hope to start doubling up on the payments in 2019 and get the loan paid off much sooner than originally planned.
I think my only loan was $5k. After I ran out of financial aid, I used some savings to pay for some of school, then needed just $5k for the rest of tuition. I believe I paid it off within 6 months of finishing because I did that Dave Ramsey thing and threw most of our disposable income into wiping it out before they started adding interest.
I graduated from college in 2016 with approximately 32k in debt. I saved money starting in July of 2016 and made my first loan payment in January 2018. I paid off all my loans in August (right on my 26th birthday).
Good job paying off your loans! I was fortunate/poor enough to get full pell grants and subsidized loans so that was paid off after a year of work. Once again the poor/wealthy can get a quality education without worries while everyone in the middle get to start off their career saddled with debt.
I graduated in 2010 with my BS in Mechanical Engineering. I had about $32k total in student loan debt at that time, ranging from around 2% to 6.75% interest depending on the specific loan/bank. If I had stuck with the original payment plans, I would've been looking at 2020-2021 to finish them off; however, I am now on track to finish paying them off this coming December. It could've been even sooner, but I had some financial setbacks - I was letting a couple of gold-digging women run my life from 2011 to early 2013, and my love of travel really kicked off in mid-2013. No regrets about the latter, though .
It's gonna feel great when I hit "submit payment" one last time; these banks have made enough money off of me lol.
Good job paying off your loans! I was fortunate/poor enough to get full pell grants and subsidized loans so that was paid off after a year of work. Once again the poor/wealthy can get a quality education without worries while everyone in the middle get to start off their career saddled with debt.
Yes, exactly.
I steer towards the humble side of the financial spectrum (east African family background). Education was something drilled into our minds.
It amazes me how our convoluted education system has influenced the dynamics of our population. We perceive higher education as more of a financial burden, rather than an opportunity to climb the socioeconomic ladder.
I graduated in 2010 with my BS in Mechanical Engineering. I had about $32k total in student loan debt at that time, ranging from around 2% to 6.75% interest depending on the specific loan/bank. If I had stuck with the original payment plans, I would've been looking at 2020-2021 to finish them off; however, I am now on track to finish paying them off this coming December. It could've been even sooner, but I had some financial setbacks - I was letting a couple of gold-digging women run my life from 2011 to early 2013, and my love of travel really kicked off in mid-2013. No regrets about the latter, though .
It's gonna feel great when I hit "submit payment" one last time; these banks have made enough money off of me lol.
It feels amazing with all that weight off the shoulders. I didn't do much traveling in my life, but I'm now pushing myself to budget right and travel ALOT more.
SOME MAY NEVER pay off their student loan,law school graduates easily owe 6 figures,one couple owe almost a million raking up multiple graduate degrees.
Appears to be an old thread but so am I so here's my info:
1977 - BS in Wildlife Management
1980 - MS in Biology
I used my GI Bill as an undergraduate, as well I drove a semi truck after classes. As a graduate, I still had the GI Bill and also had a teaching and a research assistantship. I had no debt when I left school.
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Congrats!
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