Anyone here have over $100k in Student Loan DEBT? vol. $

[agentarenas]

Originally Posted by MyJaysGetRocked

Originally Posted by AgentArenas

I know a dude near 800k in debt, but hes going to be an Endodontist Making like 400k starting once hes done.

Its all relative and it depends on the type of person. If youre responsible you can handle loans provided the income is there.

Starting 400k? Not even....

Thats what I heard in terms of whats waiting on him when hes done, but maybe youre right.


All I know is the debts a

amount to even think of

 

[agentarenas]

Originally Posted by MyJaysGetRocked

Originally Posted by AgentArenas

I know a dude near 800k in debt, but hes going to be an Endodontist Making like 400k starting once hes done.

Its all relative and it depends on the type of person. If youre responsible you can handle loans provided the income is there.

Starting 400k? Not even....

Thats what I heard in terms of whats waiting on him when hes done, but maybe youre right.


All I know is the debts a

amount to even think of

 

[essential1]

Originally Posted by swizzc

Essential1 wrote:

---

An idea for some of us who have a lot of loans.... If your folks allow you to stay rent free... When you get out of college and get your first full time job, for the first year or two stay with your parents, and pay off $20-30K off a year...

You would still have $10-15K in money for yourself.. Which sounds like crap but if you could tolerate it, isn't so bad

Even though youre a huge tool and i disagree with about everything you say politcally, im gonna have to whole heartedly agree with u on this (even though I am not fortunate enough to have this luxury)

And I think you are an idiot.. Respectfully.

 

[essential1]

Originally Posted by swizzc

Essential1 wrote:

---

An idea for some of us who have a lot of loans.... If your folks allow you to stay rent free... When you get out of college and get your first full time job, for the first year or two stay with your parents, and pay off $20-30K off a year...

You would still have $10-15K in money for yourself.. Which sounds like crap but if you could tolerate it, isn't so bad

Even though youre a huge tool and i disagree with about everything you say politcally, im gonna have to whole heartedly agree with u on this (even though I am not fortunate enough to have this luxury)

And I think you are an idiot.. Respectfully.

 

[cronicmolemolereturns]

I'm thinking about taking 10k a year in loans next term..are the requirements horrible?
you will be required to pay:
•
$300 administrative fee per annum to the approved lender.
•
2% guarantee fee per annum to the guarantee program
•
Term life insurance in the name of the student (provided by the approved lender)
•
Monthly interest charge on the loan upon receipt of funds (Prime Interest + 2%) – Currently 7½%

 

[cronicmolemolereturns]

I'm thinking about taking 10k a year in loans next term..are the requirements horrible?
you will be required to pay:
•
$300 administrative fee per annum to the approved lender.
•
2% guarantee fee per annum to the guarantee program
•
Term life insurance in the name of the student (provided by the approved lender)
•
Monthly interest charge on the loan upon receipt of funds (Prime Interest + 2%) – Currently 7½%

 

[utvol23]

Got through Undergrad debt free but med school cost me ~250K with interest stacking on top of that now

 

[utvol23]

Got through Undergrad debt free but med school cost me ~250K with interest stacking on top of that now

 

[wawaweewa]

JuJu wrote:

Well there is a national and state forgiveness programs for attorneys who work for legal aid. Because most people in law school want the big bucks nobody goes into legal aid public service law. SOOOOOOO the government started these programs which help to get attorneys to work in those areas of law. so although ill start off at a job making like 45k-50k as an attorney ill also have about 100k paid off for me after 10 years so its really like an additional 10k you earn each year. Fortunetly as you know in FL you can live pretty nice on 45k a year, not so much in other states lol. I believe they have something similar for doctors, as well as the new programs  at school like UCF where they let you go to med school for free in hopes of producing better doctors who are more focused on school than thinking about all the debt they are accumulating.



With the state of the legal market the way it is now, you sure that the Legal Aid route isn't becoming a lot more competitive? 
Tons of kids graduating from %%$+ law schools with a ton of debt.  

As an aside, if anyone goes to law school so that they can make 40 or 50k starting out then that is a huge fail in it;s own right. You can make that money without taking on 100K+ debt and giving up 3 years of wages and experience. 

 

[wawaweewa]

JuJu wrote:

Well there is a national and state forgiveness programs for attorneys who work for legal aid. Because most people in law school want the big bucks nobody goes into legal aid public service law. SOOOOOOO the government started these programs which help to get attorneys to work in those areas of law. so although ill start off at a job making like 45k-50k as an attorney ill also have about 100k paid off for me after 10 years so its really like an additional 10k you earn each year. Fortunetly as you know in FL you can live pretty nice on 45k a year, not so much in other states lol. I believe they have something similar for doctors, as well as the new programs  at school like UCF where they let you go to med school for free in hopes of producing better doctors who are more focused on school than thinking about all the debt they are accumulating.



With the state of the legal market the way it is now, you sure that the Legal Aid route isn't becoming a lot more competitive? 
Tons of kids graduating from %%$+ law schools with a ton of debt.  

As an aside, if anyone goes to law school so that they can make 40 or 50k starting out then that is a huge fail in it;s own right. You can make that money without taking on 100K+ debt and giving up 3 years of wages and experience. 

 

[sgtpeppers12]

if I get into dental school my debt will be way over 100k

 

[sgtpeppers12]

if I get into dental school my debt will be way over 100k

 

[airforce1king]

Originally Posted by usainboltisfast

Originally Posted by AirForce1King

This is why I didn't go to college (graduated in '04). My sister graduated high school in '95. She owed like $20K in loans or something like that. Had 2 kids and was NOT allowed to finish her last year for whatever reason. I remember they began garnishing her paychecks in like '04. They were taking something like $150 out of each paycheck or something like that. And they yanked her for her $6700 tax return 

. I made up my mind then that school was NOT for me if I could not get in free.

On one hand, I made a wise decision because I am living comfortably, make pretty good money, and am debt free. However, I'll be picking up a CNC trade come fall. I'm too smart to NOT be using my brain...

So what are you doing now since you arent in college? I dont really see a good alternative for not going to college for most people. Im not saying to get yourself in 100k debt but 20k of student loan debt isnt THAT bad if you go to college for a good major. That is basically a car. Most people who graduate should be able to pay back 20k. But there are a lot of people who are in college now that shouldnt be in college.

^I've been working since I got out of high school. In December of '05 I got a real good job. In '06 I made $40K (I was 19 y/o). In '07 I made $33K because I switched jobs. In '08/'09 I made $44K. Not sure about 2010 but it'll be dramatically less (switched jobs). Now I'm at a job where I can only go up. I'm going back to school to get my CNC license (my job does tuition reimbursement). That only takes 9 months. After that I'll be going to school to be an engineer. That is only 2 years. And again, my job will be reimbursing me.

I've gained enough experience in these years that I normally get hired on directly at any job I apply to. I feel I've done pretty well to be 24 y/o. My main thing is that I'm debt free. And once I get this engineering degree, starting salary at my job is north of $60K (from what the engineers have told me).

 

[airforce1king]

Originally Posted by usainboltisfast

Originally Posted by AirForce1King

This is why I didn't go to college (graduated in '04). My sister graduated high school in '95. She owed like $20K in loans or something like that. Had 2 kids and was NOT allowed to finish her last year for whatever reason. I remember they began garnishing her paychecks in like '04. They were taking something like $150 out of each paycheck or something like that. And they yanked her for her $6700 tax return 

. I made up my mind then that school was NOT for me if I could not get in free.

On one hand, I made a wise decision because I am living comfortably, make pretty good money, and am debt free. However, I'll be picking up a CNC trade come fall. I'm too smart to NOT be using my brain...

So what are you doing now since you arent in college? I dont really see a good alternative for not going to college for most people. Im not saying to get yourself in 100k debt but 20k of student loan debt isnt THAT bad if you go to college for a good major. That is basically a car. Most people who graduate should be able to pay back 20k. But there are a lot of people who are in college now that shouldnt be in college.

^I've been working since I got out of high school. In December of '05 I got a real good job. In '06 I made $40K (I was 19 y/o). In '07 I made $33K because I switched jobs. In '08/'09 I made $44K. Not sure about 2010 but it'll be dramatically less (switched jobs). Now I'm at a job where I can only go up. I'm going back to school to get my CNC license (my job does tuition reimbursement). That only takes 9 months. After that I'll be going to school to be an engineer. That is only 2 years. And again, my job will be reimbursing me.

I've gained enough experience in these years that I normally get hired on directly at any job I apply to. I feel I've done pretty well to be 24 y/o. My main thing is that I'm debt free. And once I get this engineering degree, starting salary at my job is north of $60K (from what the engineers have told me).

 

[regal black]

I have around $8K left to pay. I graduated in Fall '07.

 

[regal black]

I have around $8K left to pay. I graduated in Fall '07.

 

[usainboltisfast]

Originally Posted by AirForce1King

Originally Posted by usainboltisfast

Originally Posted by AirForce1King

This is why I didn't go to college (graduated in '04). My sister graduated high school in '95. She owed like $20K in loans or something like that. Had 2 kids and was NOT allowed to finish her last year for whatever reason. I remember they began garnishing her paychecks in like '04. They were taking something like $150 out of each paycheck or something like that. And they yanked her for her $6700 tax return 

. I made up my mind then that school was NOT for me if I could not get in free.

On one hand, I made a wise decision because I am living comfortably, make pretty good money, and am debt free. However, I'll be picking up a CNC trade come fall. I'm too smart to NOT be using my brain...

So what are you doing now since you arent in college? I dont really see a good alternative for not going to college for most people. Im not saying to get yourself in 100k debt but 20k of student loan debt isnt THAT bad if you go to college for a good major. That is basically a car. Most people who graduate should be able to pay back 20k. But there are a lot of people who are in college now that shouldnt be in college.

^I've been working since I got out of high school. In December of '05 I got a real good job. In '06 I made $40K (I was 19 y/o). In '07 I made $33K because I switched jobs. In '08/'09 I made $44K. Not sure about 2010 but it'll be dramatically less (switched jobs). Now I'm at a job where I can only go up. I'm going back to school to get my CNC license (my job does tuition reimbursement). That only takes 9 months. After that I'll be going to school to be an engineer. That is only 2 years. And again, my job will be reimbursing me.

I've gained enough experience in these years that I normally get hired on directly at any job I apply to. I feel I've done pretty well to be 24 y/o. My main thing is that I'm debt free. And once I get this engineering degree, starting salary at my job is north of $60K (from what the engineers have told me).

Sounds good. You are a perfect example of what someone should do if they dont go to college, but unfortunately most people wont do what you did. I know plenty of people out where I live just chill  and play the "baby boy" role all day.

 

[usainboltisfast]

Originally Posted by AirForce1King

Originally Posted by usainboltisfast

Originally Posted by AirForce1King

This is why I didn't go to college (graduated in '04). My sister graduated high school in '95. She owed like $20K in loans or something like that. Had 2 kids and was NOT allowed to finish her last year for whatever reason. I remember they began garnishing her paychecks in like '04. They were taking something like $150 out of each paycheck or something like that. And they yanked her for her $6700 tax return 

. I made up my mind then that school was NOT for me if I could not get in free.

On one hand, I made a wise decision because I am living comfortably, make pretty good money, and am debt free. However, I'll be picking up a CNC trade come fall. I'm too smart to NOT be using my brain...

So what are you doing now since you arent in college? I dont really see a good alternative for not going to college for most people. Im not saying to get yourself in 100k debt but 20k of student loan debt isnt THAT bad if you go to college for a good major. That is basically a car. Most people who graduate should be able to pay back 20k. But there are a lot of people who are in college now that shouldnt be in college.

^I've been working since I got out of high school. In December of '05 I got a real good job. In '06 I made $40K (I was 19 y/o). In '07 I made $33K because I switched jobs. In '08/'09 I made $44K. Not sure about 2010 but it'll be dramatically less (switched jobs). Now I'm at a job where I can only go up. I'm going back to school to get my CNC license (my job does tuition reimbursement). That only takes 9 months. After that I'll be going to school to be an engineer. That is only 2 years. And again, my job will be reimbursing me.

I've gained enough experience in these years that I normally get hired on directly at any job I apply to. I feel I've done pretty well to be 24 y/o. My main thing is that I'm debt free. And once I get this engineering degree, starting salary at my job is north of $60K (from what the engineers have told me).

Sounds good. You are a perfect example of what someone should do if they dont go to college, but unfortunately most people wont do what you did. I know plenty of people out where I live just chill  and play the "baby boy" role all day.

 

[venom lyrix]

luckily I'm fortunate to have graduated with no loans or debt. Very thankful to my mother for that.

 

[venom lyrix]

luckily I'm fortunate to have graduated with no loans or debt. Very thankful to my mother for that.

 

[trynafeelmink]

I find it rediculous that a 100k debt for a college student is considered "normal"

. Another part of the "American Dream" that ends with false hopes for a lot

 

[trynafeelmink]

I find it rediculous that a 100k debt for a college student is considered "normal"

. Another part of the "American Dream" that ends with false hopes for a lot

 

[bittersweet]

Originally Posted by usainboltisfast

Originally Posted by hbittersweet

I have 30K, is that a lot?

Depends on your major and your degree. 30k isnt a lot if you are going to be making 60k+ but if you are making 30k a year than obviously its a lot.

Journalism/Broadcast Journalism/Photography - Loyola University Chicago.
My tuition is $41,000 a year. 

 

[bittersweet]

Originally Posted by usainboltisfast

Originally Posted by hbittersweet

I have 30K, is that a lot?

Depends on your major and your degree. 30k isnt a lot if you are going to be making 60k+ but if you are making 30k a year than obviously its a lot.

Journalism/Broadcast Journalism/Photography - Loyola University Chicago.
My tuition is $41,000 a year. 

 

[salbah3]

Originally Posted by tyisny


I find it rediculous that a 100k debt for a college student is considered "normal"

. Another part of the "American Dream" that ends with false hopes for a lot

Yeah def shouldn't be normal. If its gonna be 100k it better in Med, Law School or Dentistry, then that initial investment will most likely payoff in the end anyway. If you're doing philsophy and you got 100k in debt it's a wrap

, you didn't have enough wisdom to begin with lol