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How much student loan debt do you owe?

Discussion in 'BBS Hangout' started by Ari, Jul 21, 2010.

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  1. finalsbound

    finalsbound Member

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    nope...english/communications, baby. i've made a lot of connections at my current job in radio...even have a job offer from another station that i am contemplating. i think once you graduate and get your foot in the door, it's easy to impress people just with your personality and creativity. i don't make a ton of money, but it is more than enough to cover my living expenses and pretty much any shopping whim i have. i could never be one of those people who cut up their credit cards and budget conscientiously, i just don't want to live like that. (hence...probably never having kids...)

    plus, having a job NOT in engineering/IT/health means it will most likely be a pretty lax environment. i want to work to live...not live to work.
     
  2. Ari

    Ari Member

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    touche! Good for you kiddo, best of luck :)

    Yup, same here, which is why it is a damn shame that our economy is more and more becoming concentrated in those fields. Pretty soon there will be a bunch of highly educated people with lots of fancy degrees from fancy schools that are either unemployed or barely making ends meet with their jobs, all because they are not nurses or doctors or engineers.
     
  3. DaDakota

    DaDakota Balance wins
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    Had over $25,000, took a bartending job at Dave and Busters after school in the evenings and paid them off in 3 years.

    All the bartending money (well most of it) went to Student loans.

    DD
     
  4. Smokey

    Smokey Member

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    How do I apply for this?
     
  5. Lil Pun

    Lil Pun Member

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  6. rrj_gamz

    rrj_gamz Member

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    I did...they moved Mark to Azurix (msp?) the water venture and Sutton then headed up EI...I miss it too, and so do a lot of former friends/colleagues of mine...

    Sutton and Mark sold at the right time...must be nice...
     
  7. SuperBeeKay

    SuperBeeKay Member

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    0 for college so far, parents have paid all of my tuition... I'll need a loan for graduate/pharm school though. That should be on me, I'll probably have to pay for my sisters college too. So I'm guessing around 75K when it is all said and done.
     
  8. Dr of Dunk

    Dr of Dunk Clutch Crew

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  9. DieHard Rocket

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    That would probably work just as well, so long as you're putting every last dollar you can toward one debt and paying the minimum on the rest....but if the debts are much different in total value, I disagree. Let's say you have three different debts at $5k, $15k, and $50k. Even if the $50k has a higher interest rate, you'd be better served in most cases to pay off the smaller debts one at a time and use the monthly payments that used to go toward those (once they've been paid off) and add it to the minimum payments that you were making on the $50k. This will get your debts paid off in the quickest amount of time and generally save on paying interest, even though you are paying off the higher interest debt last. You are taking each monthly payment for each debt and applying it to the minimum payment of next highest debt once the smaller debt is paid.

    But if you go after the $50k first, you are limited in how much you can put toward it each month because you still have to worry about making the minimum payments on the smaller debts. Unless those payments are tiny or all the debts are close in value, it makes more sense to pay the smaller off first.

    Yeah, I have no room to be doling out advice on family spending, me not being married. I will be in the next 2-4 years, though, and my wife-to-be will probably have at least $50k in law school debt. Other than our honeymoon, it should be awhile before we take any expensive trips -- it'll be mini-vacations within driving distance, with a good hotel deal (now that I discovered priceline).
     

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