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11-29-2012, 04:04 PM
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Companion
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Join Date: Jul 2011
Posts: 180
South Florida
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I owe $2000 a month in student loans  . for the next 15 years. I was better off making $12 an hour with no degree.
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11-29-2012, 06:31 PM
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Magnifico
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Join Date: Jun 2007
Posts: 9,447
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Quote:
Originally Posted by jessiiteach
I owe $2000 a month in student loans . for the next 15 years. I was better off making $12 an hour with no degree. |
$2,000 per month? How is that possible?
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12-01-2012, 09:20 PM
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Companion
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Join Date: Apr 2008
Posts: 196
Texas
2nd Grade Teacher
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Can you get a job and pay as you go? I was able to pay for my entire masters out of pocket and finished with no debt. Yes, it was really stressful and took a lit of sacrifice, but it sure felt good to graduate with no debt. Also, I qualified for some great scholarships because of my GRE scores. Graduating debt-free is possible, you just have to be willing to work hard and look for the right opportunities.
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12-02-2012, 02:03 PM
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Newcomer
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Join Date: Dec 2012
Posts: 2
2nd Grade Teacher
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Quote:
Originally Posted by Falcon Flyer
Also, I qualified for some great scholarships because of my GRE scores.
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If you are worried about money I would look into all the scholarship and grant opportunities available. There are many more than most people realize. Even just googling MAT grants and scholarship will get you started researching. Like Falcon says, it IS possible to graduate debt free.
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12-03-2012, 02:38 PM
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Rookie
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Join Date: Sep 2011
Posts: 24
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I started $25,000 in debt and after 8 years am at $15,000. Monthly payments run $125, and I make about $36,000 per year. It's tight, but I make it work because I love what I do.
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12-04-2012, 04:59 PM
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Companion
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Join Date: Jul 2011
Posts: 180
South Florida
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Quote:
Originally Posted by Caesar753
$2,000 per month? How is that possible?
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took out maximum loans for bachelors and masters degree, (got a masters bc I could not find a job with a bachelors) used the loans to live off of while going to school full time, and as it turns out I have pretty high interest rates.
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12-11-2012, 08:30 AM
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Rookie
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Join Date: Sep 2012
Posts: 5
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I'm about to start a masters of education program and will have roughly 50k in loans by the end of it. It definitely makes me nervous to think about borrowing this much money but it is worth it to me, personally, even if I have to pay it off for many years. I don't know much about the loan forgiveness programs discussed here but between that, scholarships, grants, and living a frugal life, it CAN be manageable. It just depends on how much time and energy you put in to seeking out ways to get rid of your loans/debt asap.
It's really easy to read these forum discussions and get discouraged but be optimistic and do what YOU feel is right. I'm no financial adviser by any means but the way I see it, your education is a worthwhile investment.
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12-12-2012, 08:06 PM
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Devotee
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Join Date: Feb 2008
Posts: 1,197
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I will realistically never pay off my student loans. Period.
What is this "after ten years" payoff you speak of?
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12-12-2012, 08:10 PM
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Magnifico
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Join Date: Jun 2007
Posts: 9,447
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Quote:
Originally Posted by jessiiteach
took out maximum loans for bachelors and masters degree, (got a masters bc I could not find a job with a bachelors) used the loans to live off of while going to school full time, and as it turns out I have pretty high interest rates.
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I really think you need to sit down with a financial planner. It seems really strange to me that you'd be paying $2,000 per month on student loans unless you're trying to pay off like $100,000 in 5 years or something. I wonder if there has been some sort of mistake in the calculating of your repayment.
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