Mothering Forums

Mothering Forums (http://www.mothering.com/forum/)
-   Frugality & Finances (http://www.mothering.com/forum/312-frugality-finances/)
-   -   How much student loan debt do you have? (http://www.mothering.com/forum/312-frugality-finances/808433-how-much-student-loan-debt-do-you-have.html)

Thystle 12-10-2007 07:50 PM

How much student loan debt do you have?

shayinme 12-10-2007 07:56 PM

At the moment a whopping 107,000.. I just checked yesterday. That's for both my BA & M.Ed.. I'll pay it off until I retire.

Shay

Scribe 12-10-2007 07:58 PM

Little bit under $32,000.

Sonnenwende 12-10-2007 08:01 PM

$20k exactly.

Pretty much kick myself in the butt every single time I look at it. I didn't have to take out so much at all. I am just glad I met my husband and graduated quickly before I could dig that hole any deeper. I was planning on it doing that otherwise.

No more school for me unless I can pay for it in cash or an employer pays.

bc1995 12-10-2007 08:04 PM

Between dh and I we have just a little over $15K.

wasabi 12-10-2007 08:08 PM

I want to say I have about $3k from grad school.

happyhippiemama 12-10-2007 08:10 PM

I said 20-30K but really it's around 32K. I couldn't bring myself to click the 30-50, that would make me cry!!

I don't even have my BA yet. I have around 100 credit hours and am returning to school this spring, so hopefully I'll FINALLY finish up at some point.

magster 12-10-2007 08:12 PM

I had debts of about 15,000. Thanks heavens, we were able to pay them off two years ago.

insahmniak 12-10-2007 08:12 PM

I think we're at just over $30k. Talk about feeling trapped. To top it off, we're late bloomers and much of our retirement money is going toward paying of student debt. With this kind of debt we're pretty much guaranteed to not be able to help our DD get through school...except for the following advice, of course:

never never never never never never never never never ever do it the way we did. Community college rocks. Transfer to a state school. Live with your parents both in college and then for two years after.

(Insert bitter smiley here)

mamamilkers 12-10-2007 08:14 PM

Shoot, I voted wrong. I voted before I did the addition. We're just under $62,500.

amahrey 12-10-2007 08:19 PM

i clicked 100,000 to 200,00 and that is for two folks with degrees in art.

aaaarrrggghh. i have a good job now as a teacher, but dh wants to go back to school to become a doctor. we are looking at ridiculous amounts of money.

i cant even think about it for more than a few minutes. the only saving part is that with an art degree (even a masters) he will probably only start at 45K if he is lucky, whereas with the extra school to be a DO, he will start at 150K and if we are willing to move to a rural or high need area, someone else (the state) can repay the education loans.

crazy.

SugarAndSun 12-10-2007 08:32 PM

Quote:
Originally Posted by shayinme View Post
At the moment a whopping 107,000.. I just checked yesterday. That's for both my BA & M.Ed.. I'll pay it off until I retire.

Shay
Wow! That's quite a bit! Will you have to pay that off on a teacher's salary?

I am lucky. I used to have around $30k, but paid it off before I had the kiddos. Too bad I can't say the same for the ccs.

shayinme 12-10-2007 08:42 PM

Quote:
Originally Posted by SugarAndSun View Post
Wow! That's quite a bit! Will you have to pay that off on a teacher's salary?

I am lucky. I used to have around $30k, but paid it off before I had the kiddos. Too bad I can't say the same for the ccs.

My M.Ed is in administration and supervision but practically speaking I can't even find a job since I have little teaching experience much less administrator experience. Basically that M.Ed is worthless, worthless enough that I am almost thinking of going back to school to get a 2nd masters in Counseling and becoming a therapist. At least then I could work almost anywhere versus now I have a nice sounding education but it means squat.

Shay

SleeplessMommy 12-10-2007 09:30 PM

Quote:
Originally Posted by amahrey View Post
i clicked 100,000 to 200,00 and that is for two folks with degrees in art.
...
When I saw that vote, I assumed Doctor. Did they provide any business classes in art school?

Scribe 12-10-2007 09:57 PM

Wanted to add that I think my education was worth every penny.

<--dissenting voice

suzysprite 12-10-2007 10:14 PM

My H just paid his off last year- the same year I finally finished my MLS. One step forward, two steps back... I owe 35k. Fortunately, I was able to consolidate most of it before the big rate hike a couple years back, but about 10k of that is at an almost 8% rate :.

But, like Ophelia, I don't regret any of it- I'm just pissed at the rate hike.

1babysmom 12-10-2007 10:16 PM

Well, DH still has a year left, but we'll only have 15,000 at the most (about 18,000 w/interest by the time we pay them off about 2-4 years after DH is done- we made sure to have a payment plan that we could stick to worked out BEFORE we took out the loan). We set a max amount that we're allowing ourselves to take out. Seems pretty decent compared to some, I suppose. (I, personally, have no loans from school)

This was our first year of taking out a loan of ANY type, so also our first debt ever, but we consider student loans to be an investment.

beansmama 12-10-2007 10:25 PM

We hate debt, and after doing the TMMO have decided NEVER to get into it again.

DH is a full time student now again at age (almost) 30, and we are using financial aid and this grant we got from a place called UT&E. Next year we'll get full financial aid and the grant.

Dh might go to 4 year in another city as well, and for that we are counting on Fin. aid and something called "Dreamsavers" from a company my dad works for - For every $1 you put in - they give you $3 - and you can put up to $2000 in it - so that's $6000 *free* for school Sounds like a too good to be true scam, but it's not - and if that's still not enough money then he'll have to stretch it out so we can pay cash for the remainder.

debt=evil.

cyncyn 12-10-2007 10:31 PM

I started out with 15,000 in 1988. But paid interest only for awhile, and have had forbearance for awhile (since dd and the end of full-time work) so I still owe about 6,000. After 20 YEARS! I have worked in my field of study for those 20 years anyway. I will be glad to get rid of them eventually.

Emmeline II 12-10-2007 10:40 PM

We used to have around 17,000; 5,000 of that was from a semester I spent in London; at least I graduated though. Dh and I were military, so once I got to his base we used my $700 a month housing allowance to pay off the smaller loan and some credit card debt. We paid off the rest last year (so 8yrs of paying) with our GI Bill Money.

Ruthiegirl 12-10-2007 10:43 PM

We have about 13K left. Used to be 25K when we got married 10 years ago.

annethcz 12-10-2007 11:06 PM

None, thank goodness. My parents paid for my college education, and we finished paying for DH's college loans a couple years ago.

doctormom 12-10-2007 11:12 PM

$150,000 at the time I finished med school, but I have paid off quite a bit and now only owe $80,000 - I know that still sounds like a truly horrendous amount of money, but I'm just proud of myself that I paid off $70,000 in 6 years.

That's just my personal school debt, not counting DH's student loans...

Belleweather 12-10-2007 11:23 PM

$121k for me, $45k for DH. For one law degree and 2 state-school bachellors degrees.

Honestly, though, I totally don't regret going to school and I think it was a wise financial move. Prior to law school, I was making $11/hr with no advancement potential or benefits in a job that was later outsourced to India. While school was expensive it also created a huge jump in our standard of living and in the level of security we can expect.

ctdoula 12-10-2007 11:52 PM

Paid mine off in August!!!!!!!!!! $20k+ and 11yrs later.

katheek77 12-11-2007 12:06 AM

$0

I went to a state school, had various scholarships, worked two jobs during the summer, worked part-time during the school year, and had a little bit of help from my mom.

I may go to grad school on my husband's GI Bill - they now allow certain ranks and job specialties to transfer their GI Bill to spouses as part of a reenlistment bonus. He doesn't really want to go to college, but I want to finish (well, restart, at this point) my master's.

BetsyS 12-11-2007 12:19 AM

$100,000 between the two of us.

That's a bachelor's for him (mine was paid for with scholarships/grants), and a masters' degree for both of us.

I wouldn't say that I regret my education, but having that much debt certainly changes how you are able to live your life and the choices that you can make down the road. I would do it differently if I had it to do over.

kittywitty 12-11-2007 12:32 AM

~$18k for dh and myself.

rsummer 12-11-2007 01:10 AM

I try and black this out. Hmmmmmmm, Dh and I ~60ish, and I'm planning on going back next year, but then I'll make the big bucks, and we won't eat rice and beans because we have to, we'll eat rice and beans because we like to

Logan's Mom 12-11-2007 01:11 AM

ugghhh

I'm 1 of 4 in the 75k - 100k. We aren't even drs or lawyers. that sucks!


All times are GMT -7. The time now is 05:24 PM.

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.