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/biz/ - Business & Finance

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132739 No.132739[DELETED]  [Reply] [Original]

How bad are your student loans?

>> No.132740

>implying my parents were poor and lazy

>> No.132787

I am expected to walk out with around 20k in debt... unless of course I go for a masters. Nothing I shouldn't be able to tackle within a year or two though, so long as I can get a decent software development job.

>> No.132816
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132816

started with 40k at the beginning of 2010, now at 9.5k

living paycheck to paycheck and eating ramen-level shit for dinner every night

>> No.132819

Pretty bad. Went back to school though so they're deferred at the moment. School is cheaper AND i get it all back as a return. I now have no incentive to ever stop going.

>> No.132824

Zero.

Too bad I don't have a job.

>> No.132900

54k

no degree to show for it

thank god for IBR

>> No.132921

It's a conspiracy to keep young people poor and hopeless. They never grow up. They never get careers. They never have kids. Human race dies with Millennials.

>> No.132939

35k
music degree
laugh at me i deserve it
>tfw cant seem to even land a cruise ship gig

>> No.133014

I'm in first year, so nothing really.
With a dickload of government grants, I'm only $4k down the hole. I'm also able to put $2k/year into a mutual fund. Hopefully after my 4 years here, the $8k mutual fund will have accumulated some interest on it.

All in all, I'm expecting to run into about $25k of debt. Although, I'm in a co-op program. They don't guarantee jobs (especially with my marks), but if I can get one, I'll make $60k before taxes. With the mutual fund and this co-op job, I'll actually leave with a degree and thousands in my pocket.

>> No.133064

~$50,000, degree on hold because couldn't pay off final semester despite completing all requirements to graduate. Also, no job. Biology degree.

>> No.133127

0

Paying for my graduate degree out of pocket, saved enough to do so. My parents were immigrants from Asia so no white privilege.

>> No.133136

30k. Math degree. I was an idiot.

>> No.133145

>>133136
Get a Ph.D. in math.
>300k starting
>any job you want

>> No.133141

$0.

Saved every penny as a child and worked while in school with internships and co-ops. Got out with no money to my name though.

>> No.133161

Education is free in my country. Shame everything else is a piece of shit.

>> No.133223

Scholarship so nothing.

>> No.133234

>>132739

I just took on $6K.

But i'm australian so it has no interest and I only have to pay it back after I earn 50K per year

>> No.133280

$17k....man it feels kind of good to say that to someone. I don't normally talk about it

I make $12/hour fulltime at job #1 and $13.50 at job 2. I feel like an ass for even going to college and If I have kids I'm going to discourage them from attending. I should be able to pay my loans off within the next 5 years and have enough cash to buy a small plot of land (maybe 4-6 acres). I know people who have way higher debt loads than me and one girl I knew killed herself because she had $135k from Drexel Uni and was unemployed ;_; this shit really messes with your psyche.

>> No.133300

I'm going to be $60k in debt but I got a job offer at CRA after grad and they'll pay off my student loans within 3 years.

>> No.133306

>>133280
>one girl I knew killed herself because she had $135k from Drexel Uni and was unemployed

How was it known that was the reason? Not doubting, just curious.

>> No.133315

When I finish it will be around 20 000 AUD, but I live in a proper country so no interest and I only have to pay it back when I get a job, which I've already got lined up.

>> No.133331

25k

I have a degree in Environmental Science though, so it's basically worthless. I work at a grocery store cutting deli meat for $8.25/hour. I sometimes wonder if I would be better off just fleeing the country.

>> No.133348

Bad enough that I'll happily default if I don't get into the military soon.

And even once I get in it'll take 3 years minimum to pay them all off, spending almost 90% of my before tax pay to do so.

I never should have gone to uni. Such a waste of time and money.

>> No.133385

>>133306
we don't know because she didn't leave a suicide note but she was real depressed for a year before she took her own life. The main reason for her depression was because she had a lot of debt that her parents co-signed for and felt as if she ruined her family's life (she talked about that a lot).

She died of a overdose in 2009 after her parent's house got foreclosed on due to the housing crisis thing.

Also I graduated with 68k in debt in 2004 and have managed to work it down to 17k today. When I graduated I found a job at a brokerage firm and was earning a little over 100k before I got laid off in 2007 and never really recovered since. I not going to lie, I pissed away a lot of the money I was making then because I didn't know my peak income would come at the age of 27. I don't really think about it anymore, I just take it a day at a time now.

>> No.133412

$0

Grants, working, and more grants.

>> No.133422
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133422

Canada Fag here. Currently at about $16,000. But I have liquid assets to pay them off in full. I used the dollars to get into commodity stocks while they were in the dumps and I'm currently looking at 23% ROI. The funny thing is that the government is paying me a $2000 completion incentive grant. Meaning, they paid ME 2 grand to profit with their money for 5 years. HAHA.

By the time I graduate I will easily be able to pay it off in full, but only after the 6 month non-payment courtesy period so that I can profit off of their money even longer.

>> No.133432

>tfw parents make too much for grants and too little to actually pay for my tuition

>> No.133448

>>133432
I was the same. And of course I was sure I could pay back any loans I took out, no problem.
>18 months of being NEET later
Now I'm trying to warn my siblings and only one of them is listening. Shit sucks. But hopefully she'll be a lot more careful than I was.

>> No.133472

>>133331
There are a few env science opportunities around here in Texas.

>>133348
If you are American then you can't default on student loans.

>> No.133486

>>133448
How much did you graduate with?

>> No.133566

>>133234
It is however adjusted to the CPI

>> No.133580

Any Canadians here under Repayment Assistance Plan? How does this shit work?

>> No.133582

0
I went to a cheap school that my parents could afford. The experience was shit and they had to be some of the worst years of my life, the degree is worth the same as any other place around. However, I owe nothing and now I continue my studies debt free.

Everything in life is a trade off.

>> No.133597

>>133472
>If you are American then you can't default on student loans.

wait.

what.

>> No.133604

Zero, I'm uneducated.

>> No.133610

>>133597
you can default just not write it off in bankruptcy

this is nothing new google it.

>> No.133696

They're going to be about $50,000 by the time I graduate, but I'm an Australian so I'm in the same boat as
>>133234

>> No.133748

As of right now 40k. I'm living comfortably taking out student loans up to the amount the navy/army will repay in three or four years of duty. If I can't cut it in the military I can just go for the noose so I'm not too worried.

>> No.133905

So, would anyone mind telling me how helpful the FAFSA actually was for them?

>> No.134012

>>133472
You can default, you can't discharge them in bankruptcy.

>>133486
$75k, and it's been a year so it's up over $80k total now. When I start the military I'll get almost $30k/yr, almost 100% of which I'll be dumping into my loans while I survive on housing and food benefits.

Currently my parents are paying what isn't covered under IBR, and IBR is covering about $52k.

>> No.134034

>>133905
Nothing for federal, but I got fat grants through my UC school, so it worked out. Probably worth about 10k/year, and I had to fill it out for loans anyway.

>>133748
Heh, good luck getting in. The military's cutting way way back right now. You'll need a degree they want (basically engineering), near perfect scores on the OAR or Army equivalent, and if there's even the slightest thing wrong with your health they'll disqualify you on the spot, forever.

It's a miracle I got accepted.

>> No.134052

>>134034
>OAR

I wasn't planning on becoming an Officer.

>> No.134154

>>133580

I am. If you make under $1600 (In Ontario) a month they pay your interest in full. You need to re-apply every 6 months, this lasts for up to 60 months/5 years in repayment assistance. So for 5 years you don't pay anything if you don't make enough and principle stays the same.

After 60 months, you enter step 2 which is where they pay the interest and some of principle monthly. After 15 years since you finished school, they would pay-off your entire debt. However this is means your a poorfag forever, so it's best to pay it off when you start making enough OR start saving little by little so you can pay a large chunk off when you get off RAP.

Make sure to never default, either make payments or go on RAP. If you default you are fucked and they will hound you forever.

>> No.134164

>>132739
0.

GI bill is a ridiculous program.

>> No.134225

Fuck students around here get 1%

>> No.134252

6k

How much do you think my credit score will improve when I pay it off? it's 600 right now.

>> No.134270

>>132739
>2014
>Paying more than 500 bucks a year to study
Have fun living in a country where all the schools are directed by jews.

>> No.134341

>>132739
0
I grew up in poverty so the gubment pays for all my shit. Get at me middle class.

>> No.134344

>>132739
0
>dem cal grants and work-study and fellowships
>dat fully funded PhD program

>> No.134346

>>134052
Why else would you get your degree before joining the military? The only reason is so you can go in as an officer with better pay, better perks, better job, and better benefits. Otherwise go enlisted, get a degree for free, then go officer or go wherever since you have minimal debt.

>>134225
LOL. My worst loans are at 9.8%, that's about 8 or 10k. Then I've got more at ~7% for another 15-18k. Then federal loans at 6.8% or some shit.

I wish the pope would start excommunicating usurers again.

>> No.134348

>>132739
None since I'm still at community college. I also live with my mom, so that qualifies me for aid.

>> No.134415

>>134346
>GI bill is for up to 51k, LRP is up to 65k.
>No benefit if you can't get through your active duty (LRP pays each year)
>Get to put off doing actual work for awhile longer

I am borrowing up to the very maximum and just letting what I don't spend stew in my account until I decide the direction I go.

>> No.134436

>>134415
Well good luck with that. Also, start applying BEFORE you graduate. It's taken me 11 months of applying already and I STILL don't have a date to leave for OCS.

>> No.134459

>>132739
>Dropped out of college 1st year, second semester
>paid my accrued 4k loan
>made 49k in 2013
>tfw

>> No.134549

>Being American

>> No.134706

Zero, because my country doesn't have that shit.

>> No.134962

>>132739
Wife has 450,000 from undergrad and medical school.

IBR will eliminate 250k in 7 years and we will be free and clear, at which time I will put the 2000 a month we pay in 529 accounts for my kids

>> No.136167

>>134154

Is it always under $1600? BC here. They don't fucking say what's the exact income threshold assuming you're living alone.

>> No.136188

Live in Scandinavia, i get paid during my education.

>> No.138064

>>132739
community college fag here. laffin at you fags.

I'll transfer to an in-state school in 2 years where I'll end up with ~8k in loans.

>> No.138812

>>138064
Currently, $6,000 usd.

I was paying it off for the first three years but I lost my job and cash flow so I had to get loans. This is my last year, though.

>> No.138840

I finished school with about $15K in loans. I worked FT and got some grants and scholarships. If you aren't getting scholarships, you fail at college already. I got $3K for just showing up everyday. Apply for them. If you're too lazy, you deserve to graduate with $100K in debt.

>> No.138876

$0. Scholarship and grant money.

Bachelors in Software Engineering at the end of spring. Looking for a job in the meantime before graduation.

>> No.138897

>>138876

Apply to government jobs. They always hire software grads on 5-year contracts. I know the CIA does. Nothing better for a resume builder then working for an intelligence agency.

>> No.138908

0 because I don't live in a shit country

>> No.138911

A little over 8k.
>tfw I want it done this year
>tfw I need to take about $400 per month from my pay to get it done
>tfw it would leave me with only enough money for the subway
I'm debating getting a second job just to get it done so I can start saving up cash.

>> No.138921

>>138897
Well seeing how I post here and the NSA around here somewhere, don't you think they would be a little bit skeptical about hiring me?

>> No.138929

>>138921
Hell, they'd probably hire you to get more info about this place. Remember, the best way to take a place down is to get your info from the inside.

>> No.138937

>>138921

Oh, never mind. They don't hire autistic faggots. A national security agency is certainly stalking retards on 4chan who pirate loli porn and dubstep music. Such a national threat.

>> No.138946

>>136188
sounds like bull,

Unless you are studying to be an electrician or something

>> No.138947

>>138929
Good point.

>>138937
They stalk sand niggers by going to sand nigger porn sites. Why would they not come here and stalk the chinks and their chinese cartoons?

>> No.138951

>>138908
What country do you live in? Do they need nuclear engineers? Sounds like a great place to have a family if there is no such thing as student debt. Having children there would be a lot better than having them born here in the states with the way this country is headed.

>> No.138952

>>138947
Shit gotta go buy a proxy

>> No.138964

>>138947

You don't know anything do you? The NSA works to prevent national threats. A bunch of 17 year olds jacking off to hentai and calling each other faggots is not a national threat. An agency who would possibly lurk 4chan would be SMART for all the child lovers.

>> No.138970

>>133136
Shouldn't a math degree give you a wide variety of job options?

>> No.138975

>>133280
17k aint shit nigga

>> No.138978

>>132739
the accounts practice I work for pays for my studying and even gives me paid leave to go to classes

feelsgoodman

>> No.138979
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138979

>>138964
>You don't know anything do you? The NSA works to prevent national threats.
>Prevent national threats
>National

Hahaha oh wait your serious let me laugh harder.

>> No.138986

>>138979

Okay, tell me what you know Albert.

>> No.138988

>>138964
>implying Anonymous isn't considered a threat
>implying current tame 4chan Anonymous isn't still associated with the dangerous hacker on steroids / evil protester Anonymous

>> No.138993

>>138952
If I ever get a government job that requires me to lurk here you guys better have some good shit that I can enjoy.

>>138964
You said it yourself, fishing for pedos.
>NSA works to prevent national threats
That is laughable. Watching kids play WoW and jacking off to night elves, dranei, blood elves, goblins, dwarfs, orcs, werewolves, cows, trolls, and gnomes is a national threat.

You give the NSA too much credit.

>> No.138997

>>138993
You forgot pandas anon.

>> No.139001

>>138993

Maybe because they'd rather supervise satellite surveillance of government buildings. Half of them has never even heard of 4chan.

>> No.139006

>>138997
Sorry I forgot MoP existed.

>inb4 humans
No one cares about them. Though I forgot the undead.

>> No.139008

>>138986
Simply to say it's a political weapon, like the IRS. This is only the beginning of the NSA hullabaloo a scandal will surface on day much like the one with the IRS.

I shouldn't really be getting into politics this isn't /pol/

>> No.139010
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139010

>>133280

Drexelfag here. The 5 year program basically adds up to a quarter mil in costs. My dad covered everything but about 30k. I landed a job and only have to pay about $300 a month for loans for 10 years. I'm making enough so it doesn't matter, but holy shit I feel like I got lucky.

There are some real horror stories out there. My very serious advice to anyone considering college is have wealthy parents or go learn a trade. There are union carpenters, plumbers, etc. that make some seriously good cash. Fuck even some toll works make 100,000k a year.

>> No.139027

>>139001
You sound like you speak from experience. Are you Snowden or perhaps someone from the NSA posting on 4chan to try to get the neckbeards to invest in shit?

>> No.139046

>>139027

I no longer work there. Worked in IT. NSA doesn't give a shit about pirating, child porn, or anything that has to do with 4chan. The FBI and SMART used to watch 4chan back in the day but it's pretty much dead now that /b/ no longer has those midnight raves of well naked children. Yes, they can do anything. They can get your location just by your phone number even if you have GPS turned off. But they don't care about you. I mean it's like a celebrity has your phone number. You really think they're gonna call you?

>> No.139072

>>139046
Yes ;_;. I want to have late night phone sex with a mysterious person who knows what I have been wanking to and can come to my house at a moments notice and penetrate me from behind when I reach my climax.

>> No.139073

>>139010
>100,000k

fucking unions

>> No.139109

>>139072

I will certainly come penetrate your backfield.

They know nothing about you. It's not like they can read your mind. If they have reason to know you, they will get the information they want. But they don't search your name and magically know the last time you jacked off.

>> No.139125

>>139073

My best friend's brother-in-law makes $900K a year running his own plumbing business with 3 employees, backed by a union of course.

>> No.139139

>>139109
Dude why are you so gay?

>> No.139147

>>138970
undergraduate math degree is so insanely broad that nobody gives a shit about it

if you want to study maths, then go into even higher education.

>> No.139165

>>132739
Going to be 25k by the time I graduate maybe less since I'm going to start sending payments on the principal cause I got a job.

>> No.139171

>>139139

I got the gay from you

>> No.139209

>>139171
That's cool with me then.

>> No.140556

>>138964
http://www.theguardian.com/commentisfree/2013/sep/15/nsa-mind-keith-alexander-star-trek

Money from your taxes, fighting the good fight.

>> No.140594

>>132739
have $28k in stdt debt, haven't paid in 10 years, occasionally get daily call from debt collector and have a nice conversation. Know the guy who calls me by first name basis.

>> No.140925

>>140594
>10 years

Jesus christ, how are those wage garnishments treating you?

>> No.140988
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140988

>this threads

And I've been thinking of going back to school.

>> No.141016

I just found out that if I make more than $25/hr I'm not qualified for repayment assistance. 60k in loans bloody hell. Is paying 640/month even possible?

>> No.141033

Didn't want to make a new thread and figured this is the place to ask...

I'm returning to school later this year, but not sure what I want to go into. The school I'm going to is small and doesn't offer a lot, so that's a bummer. Should I get a degree in marketing?

>> No.141063

>>141016
>income cliff
Under a basic income this wouldn't happen :^)

But we also need to reorganize our higher education finance system, maybe that thing where you pay 10% of your income for 10 years no matter how much you make.

>> No.141102

>>133280
>>139010
>My very serious advice to anyone considering college is have wealthy parents or go learn a trade.


If you want to get sick, the US federal government made over 41 Billion last year in profits from student loans. Makes me sick thinking about it.

Two professionals I know took advantage for pre-pay for their kids education. Some states have pre-pay programs and it works out way better than having to cough up the money suddenly or take out a loan.

On the subject of learning a trade, I recall an article last year that there were over 600,000 jobs available in factories in the US. The trade group that represents them stated that many don't require college/university education, and if the person is smart and hard working, they can get promotions within the system and end up making $125,000 within 10 years - all without a college education.

Something to think about...

>> No.141122

>>132819

Yeah I was wondering about this as well, can I just keep going to school for 15-20 years and never have to pay back my loans?

>> No.141121

>>141102

so how many people are making 125k a year, and how many are making 30k?

Something to think about...

>> No.141144

$0
healthy six figure income, no college

why did you go to college?

>> No.141159

>>141121

The jobs which paid $125 were management or supervisory in nature - but they all started out with nothing. In the case of the $125k jobs they referenced, all were trained within the factory on the job and rose to that level.

So which is worse make $40k and have $30k in student loans, or have no loan, and work your way up by learning while on the job?

>> No.141201

>>141159

doesn't really matter to me b/c I'm already making 40k+ at 26, and plan to pay off all my loans within the year - and I'm still at entry level

my point was though while you suggest "everyone" go out and get trade jobs, only a handful of them are going to be in the supervisory positions, and the rest will be left to hold the bag making 30-40k for the next decade of their life

>> No.141203

>Going for a CS degree at a decent enough liberal arts college
>GI bill pays for most of it
>Will probably try to earn masters at a better college
>If all else fails, can fall back on a job at a sage plant thanks to previous summer employment and nepotism

I was getting depressed at the prospect, but shit, it's better than some of the alternatives i'm reading here.

>> No.141216

>>139010
>My very serious advice to anyone considering college is have wealthy parents or go learn a trade.

The best thing people should be doing is....

1. Not going to private schools without scholarships,grants. Public schools are the cheapest schools. Even taking community colleges is essential to reduce the amount of credits, and class you need to do in a four year college. Even for-profit colleges give you a free scholarship.

2. Don't take any 6 digit loans. 60k and below should be the limit for a poorfag family, anything beyond 100k is stupid. Law School/Medical school should be avoided like plagues. Any degree that are at 60-40k have to be good degrees or jobs markets.

I don't really understand why anybody would want 450,000k loan

>> No.141226

>>132739
32K debt with 21K in the bank. Deferment ends in September...

>> No.141355

>>141226
If the interest on the 21K is smaller than the interest on the debt, then you are losing money.

>> No.141368

>>138964
>prevent national threats
I've heard more reports about NSA agents abusing their power than terrorists being stopped. Why are people still believing this bullshit? Furthermore, why are people trusting the government with personal data when they're clearly disliked?
http://www.gallup.com/poll/166838/congress-job-approval-starts-2014.aspx

>> No.141413

>>141355

Still haven't found a job yet and looking to move somewhere far away (west coast or Europe) so I want to have some money to pay far all the expenses involved until I start getting actual paychecks.

>> No.141549

>>138970
They're 2 types of math majors:
1) Those that take honors/graduate courses, guided reading programs, and try to learn the most they can. Often double major with Physics or Engineering.
2) Those just killing time with the easiest shit they can find. Typically High school education and cs doubles.

1 has an easy time getting jobs. 2 get past over for liberal arts majors.

>> No.141643

>>139125
He must of gotten his client list from working as a plumber in a union.

>> No.141648

>>133905
Got 35K in grant money + a few thousand in other aid.

>> No.141796
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141796

>>132739
>tfw no debt
>a lot of job experience
>bachelors
want to move to the next level? you made it this far without borrowing money didn't you? well done but fuck you, now take out that lone for a masters. roll the dice. i want to make more money but i don't want to borrow all that money.

fuck.

>> No.141807

>>141796
A master is gambling.

>> No.141834

>>141807
I know, it sucks. I'm kind of a shitty student too because I enjoy working more than school. Give me a job and I'll work my ass off, put me in a classroom and I scoff at the teacher. I'm more mature now and I understand how to network, but I can easily see myself graduating with a masters with a shell shocked look on my face because I have nowhere to go. At the end of the day it's inevitable though, I don't see any way for me to advance without it. And if i don't advance then I'm dispensible.

>> No.141843

>>141834
Don't worry about jobs, you'll find one. Never post GPA or anything in a resume, if not asked. Remember to make your resume lively, and your cover letter stand out. Say something about your school which no one knows about. A master is worthless, even in accounting/finance. You need the designation, not masters.

>> No.143869

>>132739
Will be around $50k when I graduate from my masters. However, I've saved every penny of it (1.5% interest rate, that's why). My net financial debt is $0.

>> No.143948

>>138946
Education is paid. Then we get 460 dollars a month in free money, and then another 920 dollars in student loans with 1.5% interest.

>> No.146749

>>132739
Big ole goose egg

>> No.149371

15k currently, gonna be another 2 years, so 45k. Got first three years of school completely free so not too bad, didn't have to pay for having chosen the wrong initial major.

All through the federal sponsored ones, with the cheap rates, don't start coming due until 2019. Gonna have to pay it off as soon as possible, fuck paying interest. My paper said with minimum repayments every 15k would end up as 24k payback. Who the fuck pays minimum? I'll live in a van if it means I pay it off quicker. As long as I get some sort of job I can kill them off.

>> No.149402

>>138946
Look it up

>> No.149475

$19k, gonna have to sign up for IBR. Is it a difficult process?

>> No.149477

>>133136
Did you do finance?