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Old 02-21-2009, 12:54 PM
239 posts, read 351,417 times
Reputation: 115


When/if I graduate next year it will be about 24k in loans. I managed to get a lot of grants/scholarships to offset the cost.
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Old 02-23-2009, 10:55 AM
Location: Missouri
6,044 posts, read 24,023,003 times
Reputation: 5182
I graduated with just over $50k in student loans. Way more than I should have borrowed. I saved money by going to community college for my first two years, but then screwed up by going to a private university for my last two years. I am down to just over $18k. At the rate I am going, I will have it paid off in 6 years. However, I am planning on going to grad school this fall. I have enough savings to pay for grad school without taking out more loans, but there's always the chance that something will happen and I may have to borrow a bit more, or I might have to defer my current loans and that will make it that much longer to get paid off. But I am hopeful to have my masters degree in 4.5 years, and be debt free in 6 years. The best advice I can give to anyone with student loans is that, if you can afford it, pay extra each month. And every time I have gotten a windfall (like a tax refund), I have always put 1/3 - 1/2 of the money towards my loans.
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Old 02-23-2009, 11:03 AM
Location: Some place very cold
5,501 posts, read 22,392,697 times
Reputation: 4353
My guess is that those with huge student loan debts aren't even going to post the numbers here!
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Old 02-24-2009, 08:13 PM
Location: Huntersville/Charlotte, NC and Washington, DC
26,680 posts, read 41,533,415 times
Reputation: 41302
Right now I have $10k in stafford loans. Probably another $15 to $20k when i finish. Thankfully i decided against Howard U and went to a very inexpensive community college in Virginia. Getting a small scholarship didnt hurt either.
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Old 02-25-2009, 01:37 PM
Location: Harrisburg, PA
2,336 posts, read 7,758,374 times
Reputation: 1580
I have about 50K in student loan debt. This will jump another 25 - 45K because I wish to go to graduate school.

On one hand it sucks; my highest paying job ever only paid 37K per year (current job pays 23K). I've only paid about $800 since I've always been on an income-contingent payment plan. On the other hand I don't own a house, have never spent more than 6K on a car (so I've never had a car payment) and I have about $300 of credit card debt. True, this is mainly because I can't get approved for any credit (rightfully so). But this still puts me way behind other Americans in how much debt I have overall.
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Old 02-27-2009, 03:09 PM
536 posts, read 1,865,853 times
Reputation: 329
I have ~70k. My payments are about 450/month. Mostly because I had some private loans in there and have 2 degrees I had never paid off. But well worth it. I easily make 30K more per year with my degree. So the 450 doesn't bother me. In another 7 years my payments are only 230 or so, once I pay off my original loans. I haven't even gone to grad school yet . But I won't go unless my company pays.

If I have to pay it will be out of pocket. No loans. And it will probably be in a different field.
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Old 02-28-2009, 07:40 AM
Location: roaming gnome
12,384 posts, read 28,391,021 times
Reputation: 5877
Hrrm... not to be a negative nancy but... you shouldn't pay for grad school for a LA degree... honestly you might be hurting financially for a long time.
How far are you into it?

Personally I worked almost full time at a real job (not mcdonalds) and went to school full time and in summer so came out clean at a state school... took me an extra year to finish, but I think the financial aspect of it is worth it. I also dual enrolled and took as many classes at community college as I could (3x less tuition cost) basically most of the GE courses.

Don't colleges make you take some financial course or introduction these days?

I hope all those with substantial debt from undergrad at least have Ivy League or wanna be ivy league degrees, otherwise, probably not a great ROI.

Top law school, engineering, mba etc grad school and still don't get funded... still worth the initial debt.
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Old 03-02-2009, 12:14 AM
Location: Summerset, SD
325 posts, read 2,991,180 times
Reputation: 570
~$150,000 and growing.
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Old 03-02-2009, 07:56 AM
19,045 posts, read 25,117,682 times
Reputation: 13484
Originally Posted by sablebaby View Post
Mine: $100k

Originally Posted by eofelis View Post
I'll graduate in May 2009, at 41 yrs old, with a BS in geology, minor in GIS.

Very low income + high GPA female science student = lots of scholarships and grants. All my tuition has been paid, $0 debt. I go to a small, cheap state college. It's <$5k/yr for a full time class load.

I've worked p/t off and on during the time I've been in school for low wages.
Good for you. An adult, female, science student. I love it!

Originally Posted by Elipar View Post
~$150,000 and growing.
Again, ouch. I guess you're in med school? Good for you as well.

I have about 40k in loans. I took out 10k more than I should have due to unexpected circumstances. I still haven't consolidated my loans (have been out for 2 years now) but interest rates are pretty low and I may do it this year. I'm glad I did wait but it's a hard risk to take. I wonder where the interest rates will go this coming june/july.

Right now I'm only paying the minimum but hopefully that will change next year since I'll be due for a promotion.
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Old 03-26-2009, 01:40 AM
Location: CNY
15 posts, read 51,323 times
Reputation: 13
Once it's all said and done, around $125k. Sadly, this isn't for a professional degree either. I regret not getting rid of the "welcome to college" garbage classes at a community college for a year before going to a private school. Could've saved myself $40k. Oh well; it's too late to whine about it now.
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