student loans are such a flop flop flop

iVillage Member
Registered: 10-05-2009
student loans are such a flop flop flop
2
Fri, 03-18-2011 - 12:31am

I've carried this stupid loan for SO long, about 20 years now. I have as much in interest as I originally borrowed. This this is a monsterous machine! I was forced to take out student loans again when I went back to nursing school. I've graduated now, so that old one is due and payable...

iVillage Member
Registered: 03-07-2005
Fri, 03-18-2011 - 6:09pm

Been paying on ours forever too...over 10 years. I have a son who is a soph. this year. I so don't want him saddled with this student loan debt like we have been. I think I can get one paid off this year with some serious effort. But you are definately not alone in this s.l. sinking boat! It sucks. And I hear ya on the interest. It makes me ill to think about how long we've been paying on them. My van should be paid off in a couple of months and every penny of that is going toward these loans!! GL w/ yours.

iVillage Member
Registered: 10-05-2009
Fri, 03-18-2011 - 9:52pm
I'm hoping someone, anyone can learn from this expensive mistake! I went to a "business college" and got a certificate that qualified me for a barely over minimum wage job. The school encouraged every single student to take out the maximum student loan, because as students, we had expenses and we deserved to have nice things. I used my loan money to buy a big, canopy waterbed! Oh, how stupid I was! Of course, I also used it to pay the power bill and stuff, and to buy new clothes that I would need for job interviews (way more than I needed!). It was stupid, because I didn't NEED that money, and then the job I had was barely enough to pay my bills and never enough to pay extra on my loan, not that I would have, I wasn't in that mind set.

Now, I'm completely freaking out about it!