Student Loans

GingerNess · December 2012

Seems like a lot of ladies here have them. If you don't mind talking about it..How much did you start with? How much do you pay each much?

My best friend currently has 22,000 in loans and has a year left of school. She thinks her payments are going to be 40 bucks a month...sure..

bluejetta · December 2012

I had about $30k total from undergrad and grad and was SLOWLY paying them off. I was fortunate that an inheritance from my grandmother helped me pay the whole shebang off this year which I hadn't expected but will be eternally grateful for. I wasn't going to have it paid until 2020 something.

SusieBW · December 2012

DH and I each have around $100K in loans. Between the two of us, it's another mortgage payment each month. Ick!

ldcoffel · December 2012

I honestly don't remember, maybe 18,000. Months we have extra money I pay 150. Months that we have less money, I pay 100.

vnstacie · December 2012

When I first started paying it was around 50 a month, now I can pay whatever.

Also, why does it matter to you, it's not your loan payment?

CiCi44 · December 2012

I started with $22K and I think I'm down to maybe $16k? It's automatically taken out of my account -- out of sight, out of mind. (I probably should check the balance every now and then!)

I consolidated my federal loans and did a "graduated" repayment program. My loan payments started out small ($70 or so) and have increased over time to make loan re-payment more manageable.

septmom11 · December 2012

I have about 15 grand and pay 180 a month. I would have had way more paid off but i deferred for a few years ( stupid, stupid) when I was living with my ex and paying most of the bills. Sighhhh hope to have them paid off someday.....

linzica · December 2012

I think i only had about 15k when i got out of school. I worked hard in college and usually managed to pay a good chunk of my tuition, plus I had a scholarship my last two years as long as i kept a decent GPA. I'm still paying them because they're such a small payment they've never made me uncomfortable enough to pay them all off. I will be done with them in 2013.

GingerNess · December 2012

vnstacie:
When I first started paying it was around 50 a month, now I can pay whatever.Also, why does it matter to you, it's not your loan payment?nbsp;

Don't really care. Just putting it out there.

alli&dan · December 2012

I have about $23,000 in private loans at a 4.25 interest rate that I consolidated after I graduated, $3,300 in unsubsidized federal loans and $11,700 is subsidized federal loans.

Minimum payment on the private loan is about $180.00 per month and the minimum payment on the two federal loans combined is about $176 per month.

I'm slowly chipping away at them, but I'll probably still have a small amount left when B goes to school.

Your friend might want to talk to a loan counselor.

GingerNess · December 2012

septmom11:
I have about 15 grand and pay 180 a month.nbsp; I would have had way more paid off but i deferred for a few years stupid, stupidnbsp;when I was living with my ex and paying most of the bills.nbsp; Sighhhhnbsp;nbsp;nbsp; hope to have them paid off someday.....

This sounds like us, but with the car payment. We have deferred it like 3 times. Stupid bills just keep coming...

While students loans suck, I find it great that so many here went to school. For me, I didn't even think it was an option.

GingerNess · December 2012

allidan:
I have about 23,000 in private loans at a 4.25 interest rate that I consolidated after I graduated, 3,300 in unsubsidized federal loans and 11,700 is subsidized federal loans.
Minimum payment on the private loan is about 180.00 per month and the minimum payment on the two federal loans combined is about 176 per month.
I'm slowly chipping away at them, but I'll probably still have a small amount left when B goes to school.
Your friend might want to talk to a loan counselor.

This is my thought. She also has both loans. So her 22 is without adding interest. The good thing is that she is going for education

GingerNess · December 2012

faupanda:
I borrowed 5200 I believe, but in the end it came out closer to 6000 with interest.nbsp; I didn't have much because I ended up moving home and paying for tuition and books out of pocket 2nd year on.nbsp; My payments were a minimum of 50 per loan, and I had two loans, for a total of 100.nbsp; They would not let me pay any less because I did not have enough student loan debt accrued.nbsp; You are supposed to have 10 years to pay it off, but apparently that's only if you 10,000 or more.

Maybe this is what she was told, 40 per loan. But she gets four loans a semester so Idk.

Sucks they wouldn't let you pay any less. But on the plus side, you will be done sooner so just think of all that money you will have extra each month! :]

carolyn6609 · December 2012

I started with $36,000. I have a monthly payment of $385 and an additional quarterly payment of $375. I wish I had gone to a cheaper school. Even with financial aid, scholarships, and grants, it was expensive. My starting loan amount isn't even as much as one year of school at the full price.

alli&dan · December 2012

faupanda:

GingerNess:
faupanda:
I borrowed 5200 I believe, but in the end it came out closer to 6000 with interest.nbsp; I didn't have much because I ended up moving home and paying for tuition and books out of pocket 2nd year on.nbsp; My payments were a minimum of 50 per loan, and I had two loans, for a total of 100.nbsp; They would not let me pay any less because I did not have enough student loan debt accrued.nbsp; You are supposed to have 10 years to pay it off, but apparently that's only if you 10,000 or more.
Maybe this is what she was told, 40 per loan. But she gets four loans a semester so Idk. Sucks they wouldn't let you pay any less. But on the plus side, you will be done sooner so just think of all that money you will have extra each month! :]

She should be able to consolidate and make one payment on all of her loans. $22,000 / 120 months comes out to roughly $184 a month, without adding in interest. She's looking at a $200/mo payment.

Honestly, with Florida schools, it doesn't make sense why she doesn't have a scholarship (unless she didn't graduate in a Florida hs). What I paid for all four years at a University is what people pay here for ONE semester of undergrad. It's insane.

She can consolidate all of her federal loans together and then all of her private loans together. I really hope that loan consolidation conditions have improved. I consolidated in 2006 and had no problems. By 2008 the economy tanked and a lot of loan companies stopped consolidating. It was a terrible time to work in financial aid.

Yasiris1105 · December 2012

I have a 10k now and that was just one semester of Law School

I got pregnant. I'm suppose to pay something around 130. Right now I have it in forebareance because I don't have a job and I'm planning to start studying again next August.

Tulips114 · December 2012

I graduated with about $5k in loans and paid it off in a couple of years.

starshine985 · December 2012

I started with about $17k and paid about $300-$350/month. In months when I could afford more, I did. I had the loans paid off by September of 2011 (so I spent about 5 years paying off the loans) - just in time for DS' arrival!

Amelia4 · December 2012

I had about 100K to start (including undergrad and law school). I paid off the 20,000 private loan within two years out and consolidated the federal 80K. I've been paying on that since 2006. The minimum payment is 420 a month (over 30 years) but I pay extra and am down to a balance of just over 50K now. My husband has similar numbers. And I am thankful for my job and graduating in 2006. If I had graduated a few years later, my story would be much different given the job market.

toriwc · December 2012

When we married, DH's balance was at $80K. It's down to about $70K now. We pay the minimum, $340, a month because the interest rate is so low, it doesn't make sense to over pay when we can make more on the money by investing it elsewhere.

GVSU-04 · December 2012

I started with $17,000. I am down to $500. That shizz is getting paid off next month. Big Smile

H is another story. He went to a private law school. His payments are pretty much a second mortgage.

CMheart1011 · December 2012

I had about $3,000. I had a scholarship that paid most of my tuition, and financial aid paid most of what was left (I guess I was lucky that my family was poor enough for that?). Also, I lived at home and commuted to school, and worked to help pay for other expenses. My last year I lost financial aid because my dad's pay went up and one of my brothers no longer lived at home, which is why the 3k. It's paid off.

DH had around $10,000-that was for one year. After that he switched to a trade school, which he doesn't have loans for so he must have had a scholarship or something. We are close to having his paid off but I'm not sure of the actual balance.

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