I have some student debt, too - defnitely not as much as most of you, I figure, since I was able to study in a place where tuition fees until now were almost nonexistent. I managed to rack up 4k in debt till I decided to stop taking federal student loans and began to work part time while still at college/university. And since I am right now in the 'pay back' phase I count it into my debt total. The monthly rate is close to 10% of my monthly net income, so that is a heavy surge on available monies for my husband and me, especially since he is still at college, pursuing a first degree.
Believe me, I am definitely looking forward to the day when I will have finished paying that part of my debt.
Each month at the end of the month, I first total up my ccs and other miscellaneous bills (with the exception of the cars, since they are assets, one being worth more than what is owed and one slightly less). After i add up the ccs, i add our student loan total to the mix. Student loans have a way of creeping up on you, in that you owe such a large amount of money and compared to what you owe, the payment is relatively low, sometimes only knocking $50 off the principal. I have definitely been watching this, and it has only been since I've been a bit more meticulous that the principal has started to go down. I used to not add it in, but I feel like the student loans are a black cloud hanging over. They are not the biggest priority to us, but they are definitely still debt. Heather
I agree with the previous poster, I feel like the student loans are a black cloud hanging over us. It is really tough for me because I went to a wonderful university although it was a private university so it cost way too much. My debt is about 45K in student loans, both private and federal, and my dbf's debt is around 35K. It is really scary to think that together we owe 80K in student loans and I'm not done yet, I want to get a master's degree, etc. I am certified as a teacher though so I think I'm going to stop going to grad school (I have taken two courses so far) and wait until I get my teaching job so I can get help with the tuition. We will be paying almost 600 a month in student loan payments, and that is really scary for me. I wonder how we will ever be able to buy a home or have children because we will be paying on this debt until we are 55 or so. That is part of the reason I am working hard to reduce my debt load now, by paying off credit cards, so that I can get to point where I can put more money to the pricipal on my student loans.
Mine are a pain. I graduated in 1997 with an undergraduate degree. I was the first person in my family to go to university. I am the oldest of six, and got no financial help from my parents. I worked PT, and had a scholarships that covered parto fm y expenses, and I graduated with $ 37 K in student loans.
I pay about $ 400 a month, and have been paying since 1997. I can't wait until they are paid off. I am so weary of this money going out.
At the same time I recognize them as a blessing. Without student loans I would not of been able to go to university, or pursue my goals and dreams. I do consider them debt,a however they go in the "good" debt category in my mind. I know I am far better off for pursuing my goals and dreams than if I hadn't of gone to school.
That said, I have been stuck in a real tight spot for a few years, student loans, car loans, mortgage, and child care eats up almost all my income. I have a small amountof credit card debt (4.5 K total, anymore would of pushed us over the edge. I am looking forward to having some more financial freedom as my kids are both going to school (PT at least) and my student loans are started to be paid off. Mu first studnet loan will be paid off in Jan 2006.
I count them in with our overall debt. How I feel about student loans varies-I had one for my undergraduate and lived pretty reasonably but could have cut back more. As I was paying it off I definitely wished I would have eaten at home more, etc. Our graduate school loans I'm mixed on-we used up savings to live most of the time without loans so then the gap between last graduate teaching assistant checks and first faculty check was 4 months or so....There's just a lot there I wish we had done differently to avoid those loans.
However, I teach per course for a local college and my DH coaches college debate and teaches. We both see a fair number of students who will comment on buying stuff after receiving the latest loan check-you know the essentials in life like a big screen TV, recent model car, new clothes, iPod, etc. LOL They'll be paying for that "stuff" a long, long time. In fact, I often wonder if the poor college student eating cheap mac n' cheese isn't a thing of the past-as I listen about the shopping, cars, nights out, etc. most of them have more discretionary spending than I do.
Hello heather,
I have some student debt, too - defnitely not as much as most of you, I figure, since I was able to study in a place where tuition fees until now were almost nonexistent. I managed to rack up 4k in debt till I decided to stop taking federal student loans and began to work part time while still at college/university. And since I am right now in the 'pay back' phase I count it into my debt total. The monthly rate is close to 10% of my monthly net income, so that is a heavy surge on available monies for my husband and me, especially since he is still at college, pursuing a first degree.
Believe me, I am definitely looking forward to the day when I will have finished paying that part of my debt.
Greetings, and have a nice week,
Jordis
ivy_jordis
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They are not the biggest priority to us, but they are definitely still debt. Heather
All my best,
Danni
Mine are a pain. I graduated in 1997 with an undergraduate degree. I was the first person in my family to go to university. I am the oldest of six, and got no financial help from my parents. I worked PT, and had a scholarships that covered parto fm y expenses, and I graduated with $ 37 K in student loans.
I pay about $ 400 a month, and have been paying since 1997. I can't wait until they are paid off. I am so weary of this money going out.
At the same time I recognize them as a blessing. Without student loans I would not of been able to go to university, or pursue my goals and dreams. I do consider them debt,a however they go in the "good" debt category in my mind. I know I am far better off for pursuing my goals and dreams than if I hadn't of gone to school.
That said, I have been stuck in a real tight spot for a few years, student loans, car loans, mortgage, and child care eats up almost all my income. I have a small amountof credit card debt (4.5 K total, anymore would of pushed us over the edge. I am looking forward to having some more financial freedom as my kids are both going to school (PT at least) and my student loans are started to be paid off. Mu first studnet loan will be paid off in Jan 2006.
I count them in with our overall debt. How I feel about student loans varies-I had one for my undergraduate and lived pretty reasonably but could have cut back more. As I was paying it off I definitely wished I would have eaten at home more, etc. Our graduate school loans I'm mixed on-we used up savings to live most of the time without loans so then the gap between last graduate teaching assistant checks and first faculty check was 4 months or so....There's just a lot there I wish we had done differently to avoid those loans.
However, I teach per course for a local college and my DH coaches college debate and teaches. We both see a fair number of students who will comment on buying stuff after receiving the latest loan check-you know the essentials in life like a big screen TV, recent model car, new clothes, iPod, etc. LOL They'll be paying for that "stuff" a long, long time. In fact, I often wonder if the poor college student eating cheap mac n' cheese isn't a thing of the past-as I listen about the shopping, cars, nights out, etc. most of them have more discretionary spending than I do.
Taleyna