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Replies to 'Career Goals'
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April 3, 2008, 3:31 pm PDT
 Quote From: riley79121 Well...I went to a public university but my advice should apply to those planning to attend a private school as well. The most important thing I can tell you is to stay away from student loans as much as possible. It is very easy to qualify for a student loan but it can be much more difficult to repay than many people anticipate. For instance, I went through a Master's program (6 years) and borrowed roughly $20K. That really isn't a lot considering I put myself through college (with the assistance of financial aid). Anyhow, I had to work some low paying jobs to gain some experience for quite some time before I was able to break into my field. I was able to qualify for economic hardship deferrments and forebearances, but of course the interest continued to mount. I am told that I now owe $76K+. I really wish I had just taken lighter course loads so I could have worked more hours and used more of my own money toward tuition. It would have taken me longer to graduate, of course, but I truely believe it would have been worth it. If student loans is the only way to pay for your education, do it; but I am in 90k worth of student loan debt. I too went on to graduate school at a private school. I am angry at our government for doing this to their citizens. Did you know that in most other developed nations and countries, going to college is very cheap or free! Only in America will you have a 6-figure debt due to student loans.
Currently, mine are deferred, but they want me to start paying a $900.00/month bill. I will never be able to afford $900.00/month! It is ridiculous. I am just buying time for now, but I know eventually I may have to just straight-up default on my student loans all together.
It is very stressful worrying about this debt. I will never be able to purchase a home because of my student loan debt either. I could go out and buy a home, but think about it, I would just be that much further in debt, so I choose to live in an apartment.
It is a HUGE price to pay to go to college. I had no choice but to take out loans and trust me I have NO IDEA how I am going to pay these back. It's a shame that I have to worry about all of this. I have written all the congressmen and women in my state and all of the presidential hopefuls complaining about this. I suggest ya'll do the same if you are in this terrible student loan debt. Maybe one day they will allow us to bankrupt student loans or at least have our payments based on a small percentage of our income.
Good luck! If it is the only way to graduate from college, do it; but there will be hell to pay after you graduate!! Sorry, but that is the truth. Sallie Mae writes and calls me constantly and I've just accepted the fact that they always will. It is our country's fault, in my eyes for allowing this to happen to all of us just trying to get an education. Good luck! |
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