Student Loan Debt

Discussion in 'Credit Talk' started by jfpruitt, Aug 15, 2001.

  1. jfpruitt

    jfpruitt Well-Known Member

    I'm sitting here in my office hyperventilating over my Student Loan Debt. I have nearly $35K in debt!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Thats for 3 degree's over a 6 year span. I have 2 AA and 1 BS in Nursing. Should I be concerned? My payments are very reasonable but its just scary to think that I"m in this much debt for a BS degree. UGHHHHHH!!!
  2. molly

    molly Well-Known Member

    I am considering taking loans for the rest of my school which will be about $6,500 but I am scared to do it. It will be much easier on me for the next 2 years financially but the idea of oweing when I get out. I know $6,500 is not a lot but I've been through the whole student loan system and don't want to get into it again. They are sloppy. I will decide in November if I am going to need to do it.

    Are you finished with school now???
  3. EdG

    EdG Well-Known Member

    If it makes you feel better I have 45K in student loans and pay $400/mo on them. I never realized what I was getting into until it was time to pay up. But it was all worth it.

  4. kbelle72

    kbelle72 Well-Known Member

    Jf, basically it depends on what kind of salary you are going to be able to pull. I chose my law school by what was cheapest (40K instead of $120K) in case I didn't like it (a little intuition on my part). I knew my BBA in accounting would provide a decent enough salary to be able to pull it off. Are you paying back the principal already and over what length of time? If so, look at the percentage compared to your monthly income and see if it looks reasonable to you. (FYI, the FFLEP people think 40% is enough for a deferment). If you have any questions, let me know.
  5. jfpruitt

    jfpruitt Well-Known Member

    Yes, I'm finished now.

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