Ugh. Student Loans.

iVillage Member
Registered: 01-01-2008
Ugh. Student Loans.
5
Sun, 02-21-2010 - 7:20am

I did DH's FAFSA a few weeks ago. They sent him a link to his SAR. I never noticed before (or maybe it was never there before), but they have a summary of all of his outstanding student loans. $28,000. Ouch. I made it through college with less than $10k in student loans so that seems like a lot - especially since we still have 2 whole years to go (not counting grad school if he goes)! I had purposefully not kept track of his total in student loans. Knowing the total feels like a complete kick in the you-know-what.


Anyway, he has some subsidized (no interest for us to pay while he's in school) and some unsubsidized (interest accrues). Well, he has hundreds of dollars in interest. I paid the accrued interest on 2 of the loans: $531.44. We had some leftover money from our taxes so I figured this was a good use of the funds. It's just really frustrating to know that interest is really acruing on his student loans (my


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Avatar for mommys3boyz
iVillage Member
Registered: 03-26-2003
Sun, 02-21-2010 - 1:36pm

not necessarily a frugal flop, look at it as an investment.

~Mary~


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iVillage Member
Registered: 01-01-2008
Sun, 02-21-2010 - 1:44pm
Thank you for your post. I was *really* down about the whole thing last night and this morning, but you reminded me that it truly is an investment. Thanks :)


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Avatar for lulucluster
iVillage Member
Registered: 03-27-2003
Mon, 02-22-2010 - 11:32pm
I am just a lurker on this board, but wanted to chime in and let you know that I recently finished Grad School which we financed through loans. It was a lot of money, but I got a job that I absolutely love right after Grad school and in my first year I made more money then we borrowed and I am only working part time right now so I can have more time at home with my youngest while she is still not in school. Not only is it an investment for future income, but it can also open doors you don't expect.
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Avatar for kathy_s14255
iVillage Member
Registered: 03-27-2003
Tue, 02-23-2010 - 11:03am
I agree that college is an investment in your future, but be careful that you don't burden yourselves with too many student loans. They can really bite you...I found this article disturbing
http://finance.yahoo.com/college-education/article/108846/the-555000-student-loan-burden?mod=edu-continuing_education
iVillage Member
Registered: 01-01-2008
Tue, 02-23-2010 - 6:38pm
Wow. It's amazing anyone goes to med school. I'm so glad DH doesn't want to be a doctor, lol. We should be just under $50k when he's done, but I'll definitely be careful to get them paid on time and as quickly as possible to stay out of that situation!


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