Graduating with Student Loans? How Much?
(Orangutan, 316
Points)
on 4/4/07 at 9:30pm
I just found out im graduating with $20,125 worth of student loans.
$11,625.00 @ 4.75% and the rest at 6.8%
How much are you guys graduating with?
Do you plan to pay it off right away or just make the minimum payments?
Let me know!





wow lucky you
I'm graduating with close to $60,000. I plan to not be a baller my first few years, and dump my whole bonus into that. It's def doable to pay over time, but I just don't want that shit hanging over my head accruing interest.
$60k? Damn.
$60k? Damn.
I have one set of loans
I have one set of loans ($30K now) with an interest rate of 1.50% locked in for 30-years. I never plan to pay it off early since the real interest is in negative territory.
With the bonuses we are getting now, I think you should pay off the high-interest ones within your two-year stint. When I got done with my first-year I had about 15-20K in credit card debt + some other shit, which wiped out most of my bonus back in 2005.
Only if I had graduated last summer...
How did youget a 1.5%
How did youget a 1.5% interest rate?
Re: $60k? Damn.
$60k? Damn.
Get a load of this...one analyst I worked briefly admitted he had over $80K of UNDERGRADUATE debt!
Re: How did youget a 1.5%
How did youget a 1.5% interest rate?
Well, back in 2004 interest rates were at historical lows and since it was a federally-backed loan, I consolidated in the fall of 2004 and got an awesome rate. The rate was 2.00% at first, but after 6 or 9 months (I can't remember if it was 6 or 9) of on-time, automatic withdraw payments it got bumped down.
Crazy rate, eh?
yeah i thought i got out
yeah i thought i got out good when i consolidated at 4.75
it sucks
There are a lot of ppl who sort of fit into the middle class and get fucked. We don't have enough money to pay for college straight cash, but we still make too much to get a substantial amount of financial aid. The end result is that the only way to do it is through a ton of debt.
I'm gonna be at a net
I'm gonna be at a net positive of around $15K by the time I get out.
Guess that's the benefit of being at a nontarget with a full ride...
Re: yeah i thought i got out
yeah i thought i got out good when i consolidated at 4.75
That's not too bad. My private loan is now at 8.375% and I intended to pay those off this July.
If I were smarter, I would have taken out the max on the federal loans and invested it.
92k at 11%. No parental
92k at 11%. No parental co-sign. when it's all said and done that is.
Re: I'm gonna be at a net
I'm gonna be at a net positive of around $15K by the time I get out.
Guess that's the benefit of being at a non target with a full ride...
How is this so? I'm at a target state with a full ride, yet I've somehow accrued ~$4000 in debt over the course of my freshman year alone. (1100 in tax I owe from my internship high school senior year, 1800 for the IBM ThinkPad). My goal is to graduate in the black, with NO assistance from my parents.
Re: 92k at 11%. No parental
92k at 11%. No parental co-sign. when it's all said and done that is.
double ouch
Reason #2 for going into
Reason #2 for going into investment banking: So my kids don't have to take out student loans.
I get money for tuition and
I get money for tuition and living, meaning that as long as I live off-campus and relatively frugal, I get to pocket the difference.
That's what I figured. They
Good plan. Given the choice
$53K
Try going to law school...
.... lol wtf. By the time I
what about if you had 150K
Although obviously not
I know I will be owing a lot
A quick lesson on Student Loans
For some people it isnt
Re: For some people it isnt