student loans.

[beastieangel01]

if you are paying them off right now, or will, what are your monthly payments going to be?

Right now, if I go in to student housing and with the cost of my school, it's a shit load of money. At a 7% interest rate (not what I have right now but if the loan is put in my name only, it might be. Dad has great credit though so if he co-signs it'd be lower) and over a 10 year span, all of this will cost me $739+ a month to pay back (before trying to consolidate or anything). That's an assload. Even if I get a lower interest rate, it's still going to be quite a bit.

I'm not sure what to do. I really really want this, like, desperately, but I don't know if I should give it up because how much it would be, or what. I could just do fine art only and try to self-teach the 3D programs, but now people in the industry tell me that people aren't really hired that way anymore. They are looking directly at the schools like mine to hire people.

Oh hell.

[Ace42X]

if you are paying them off right now, or will, what are your monthly payments going to be?


Nothing, I make less than £15,000 a year!

[Hiebz]

after financial aid and all, what I actually had to pay back on college was around $20,000. At first, my payments were around $300 a month. Several years back, I consolidated and my payments are $120 a month now, and its 5%.

I still have about $11,500 left to pay and I graduated in 1999. :)

From the very beginning, I looked at my payment and entry into college as an investment that would pay itself off. I'm pretty happy with how I have managed it and will get it paid off in the next few years and be debt free;

until house and kids ....

[jabumbo]

how many years is that across? 10?


thankfully i dont have any college loans. my great great uncle (who is pumping strong at 96) set aside money some 40 or 50 years ago for a family college fun, and so that makes the difference for what i owuld otherwise be loaning

[beastieangel01]

how many years is that across? 10?


yeah it's across 10.


From the very beginning, I looked at my payment and entry into college as an investment that would pay itself off. I'm pretty happy with how I have managed it and will get it paid off in the next few years and be debt free;

until house and kids ....

haha, tell me about it. There will always be something.

p.s. Hiebz (or anyone that may know), if you had a co-signer on your original loan, then consolidated, did that/does that make the co-signer free of the loan from that point forward? or are they still responsible for payment if you do not pay the loan back?

[Monsieur Decuts]

I'm paying out a little more than 400 bucks a month. It hurts, but I remember when I was pulling 20s from the bank machine to buy beer I was like...worker Decuts will be able to pay this back no problem. And in the end...i think it was all worth it, except the liver damage.

[beastieangel01]

you have 10 years of schooling left? :confused:

no, the loan repayment time is 10 years. I have about 2 years of school left.

[boys_beastie]

Nothing, I make less than £15,000 a year!

i thught it was 11000

[Ace42X]

i thught it was 11000

Well, I am not positive. But as I make less than £11,000 I should STILL be in the clear! But I'd imagine it depends when you got your SL contract, etc.

[Monsieur Decuts]

student loan interest = tax deduction, unless you make i think this year, over 100 000

[Qdrop]

i have about 43k in student loans (US dollars).

i pay about $310/month...which barely covers the interest, let alone makes a dent in the balance.

someday...someday....i'll double up on my payments to actually make progress....
someday....

i'll be paying these till i'm in 40's, most likely....

[beastieangel01]

how much will you be in debt if you graduate?

depends.

If I go in to student housing, it will cost me a total of around 68,000+ (I wrote the exact number somewhere, just can't find it right now). Without student housing, it will be around 46,000+

I'd say screw student housing but uh, I have a more than unique situation at home with my parents. Simply put, moving out will do wonders for my mental state, and I cannot afford to move out and be in school unfortunately. With financial aid, the student housing is covered so I will pay it back later vs while in school.

[HEIRESS]

most people I know pay $35/month

[QueenAdrock]

Yowza, Crystal! That's a lot!

I've only got $9,000 worth of loans when I graduate next spring, because I paid about $7,000 out of pocket for tuition and commuted to save extra money. I'm paying off the interest per month, which was $15, but will now be like $40.

Once I graduate and put it over a 10 year period, I figured it'd only be like $80 a month or something. Though I do plan on paying it off sooner, somehow. Once I get extra cash flow, I'll put down an extra $500-$600 whenever I can.

[beastieangel01]

is this a tech school? :confused:

private art school.

specified to video games in my major. So it might as well be a tech school, they just fuse with art as well since it's necessary to get down the art skills before applying it on the computer.

I am paying a lot in order to have a nerdy profession, mainly because I enjoy it.

[beastieangel01]

yeah, REALLY hefty cash, ouch. I've wanted to do it since I was in 8th grade and it hasn't changed. Hopefully, it doesn't change.

I would have done the regular fine arts route, but I want to be able to apply the art skills to industry that's in demand, and I enjoy video games a lot so it works out. That and even if what I am drawing isn't something I wanted to draw, it keeps my skills up and I will be able to do art on the side too.

What kind of school did you go to, and for what major, if you don't mind me asking?

[BeastieLips]

i don't know what payments are gonna be. i'm a junior but graduation is probably 3 and a half years away. so far i'm only like $10,000 in debt which isn't that bad. but i also plan going to london for a semester which is about $10,000 in itself, so i'll prolly have a good $30,000 of debt when i graduate. (n)

[p-branez]

merp. i have to apply for madd financial aid every where, otherwise i'm in trouble.

i wish it was about april right now and i knew what i was doing.