student loan stress

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ldp328
iVillage Member
Registered: 05-09-2002
student loan stress
10
 Sun, 02-05-2012 - 12:47pm

Well, the good news is that my last semester of grad school is now.

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demontespan
iVillage Member
Registered: 04-16-2008
In reply to: ldp328
Re: student loan stress
 Sun, 02-05-2012 - 1:20pm

Just some random thoughts:

1.

galstorelady
iVillage Member
Registered: 11-14-2008
In reply to: ldp328
Re: student loan stress
 Mon, 02-06-2012 - 1:20pm

Hi,

Just some things to think about.

1. You cannot discharge student loan debt in bankruptcy, but you can CC debt.

ldp328
iVillage Member
Registered: 05-09-2002
In reply to: ldp328
Re: student loan stress
 Mon, 02-06-2012 - 3:32pm

Thank you so much for your post.

ldp328
iVillage Member
Registered: 05-09-2002
In reply to: ldp328
Re: student loan stress
 Mon, 02-06-2012 - 3:53pm

Thanks for the repyly.

ldp328
iVillage Member
Registered: 05-09-2002
In reply to: ldp328
Re: student loan stress
 Mon, 02-06-2012 - 3:57pm

by the way had to reach out again.

ldp328
iVillage Member
Registered: 05-09-2002
In reply to: ldp328
Re: student loan stress
 Mon, 02-06-2012 - 4:34pm
You both got me thinking as I get ready for class tonight. I don't know why I didn't think about this sooner, but if it ever came to it, we could pay off my student loan with the 401k. I would personally HATE to do that (and I am glad it doesn't even come to mind) but it wouldn't wipe them out and it feels more solid knowing that. Thank you both again!
demontespan
iVillage Member
Registered: 04-16-2008
In reply to: ldp328
Re: student loan stress
 Mon, 02-06-2012 - 5:46pm

I, too, worked during the entire time I was in school and paid off the $68,000 in three years.

ldp328
iVillage Member
Registered: 05-09-2002
In reply to: ldp328
Re: student loan stress
 Mon, 02-06-2012 - 11:39pm
Wow I am sooooo impressed that you did your degree working too AND somehow paid that off in three years. SO IMPRESSIVE. That is inspiring. Thank you for sharing that. I SO agree with you on the 401k. I'm in HR and on the board for our 401k plan at work and I advise others against taking out a loan at all costs. I just thought it was good to know that if my husband and I both got laid off and were out of savings, if we were about to lose the house or couldn't pay anything, we have more in 401k/stock/etc. than what we owe on our debt (except our mortgage).
demontespan
iVillage Member
Registered: 04-16-2008
In reply to: ldp328
Re: student loan stress
 Tue, 02-07-2012 - 8:39am

Thank you!

galstorelady
iVillage Member
Registered: 11-14-2008
In reply to: ldp328
Re: student loan stress
 Tue, 02-07-2012 - 11:31am
Nope, I did not say that. I would not recommend paying off the SL with a 401K. You had the first right idea about snowballing the CC Payment.
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