acklac7 Posted May 17, 2014 Report Share Posted May 17, 2014 Not always. And not in the big cities. After med school you have 3-7 years for residency where you make minimum. Just enough to pay interest if you're lucky. Sorry, mah mistake, she was right out of Residency...12 years of College :dumb: Quote Link to comment Share on other sites More sharing options...
wagner Posted May 17, 2014 Report Share Posted May 17, 2014 I paid off my undergrad loans, then went to grad school, now have to start the process all over again. Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted May 17, 2014 Report Share Posted May 17, 2014 Considered it's the price of admission into adulthood. If you don't like the interest, pay it off sooner. Quote Link to comment Share on other sites More sharing options...
n2omike Posted May 18, 2014 Report Share Posted May 18, 2014 The loan companies don't want to loan you money your freshman year... and just let it sit stagnant. That money starts accruing interest as soon as they loan it to you. You might borrow $40k in student loans, but by the time you graduate... with accrued interest, your debt might be $60k! Then, if you pay it back over 20 years... you will probably end up paying back $100k! Student loans are the hardest to get out of. Bankruptcy won't do it. But, if it were easy to get out of, and there was no real collateral... there wouldn't be many places willing to loan 18 year old college kids tens of thousands of dollars. I'm 46. When I started Marshall University in state tuition was $512 per semester. By the time I graduated it had more than doubled. It was the beginning of the bubble, and just went nuts from there. Two of my kids are in the 9th and 11th grade. NOT looking forward to college! It was a LOT cheaper back in the 80's! Good Luck! Quote Link to comment Share on other sites More sharing options...
Mace1647545504 Posted May 18, 2014 Report Share Posted May 18, 2014 Yes my son finished his 1st year of college and is already in debt. We got exactly $0 for help. We make too much for help and too little to really pay for it, but my wife and i are sacrificing to help him. But he too is having to work and borrow so he will not think it's so easy and given to him Another problem is the cost of college it is STUPID. Now we'll talk about interest. Why are we having to pay so much, why aren't we getting a break. Why well if they didn't charge the middle class so much in taxes, yes interest is a tax, the US would be in a worse state than it is. OK i I'm off my soap box...long story short I fell you pain mace Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted May 19, 2014 Report Share Posted May 19, 2014 If you can't afford to go to college then find someone to pay the bill for you! Screw student loans and all the BS that goes with them. I know people that had over $800k in student loans and I honestly don't know how they slept at night. If your field/degree isn't going to make you enough salary a year to benefit a return of the student loan debt then you are wasting your time IMO. It's not worth going $60-100k in debt if you are only going to make $40k a year. Too many people were sold the college dream and basket weaving degree that now can't find work and sit on a hefty loan payment. Quote Link to comment Share on other sites More sharing options...
6 Speed S4 Posted May 19, 2014 Report Share Posted May 19, 2014 I had just 40k for 2 years of trade school. Its all paid off, I'm 25 years old. Had it paid by 23. Quote Link to comment Share on other sites More sharing options...
Mallard Posted May 19, 2014 Report Share Posted May 19, 2014 If you can't afford to go to college then find someone to pay the bill for you! My friend just did this. He went to med school and enlisted in the Navy. They paid for all his schooling and a living stipend in exchange for 4 years of service (partially his residency). During his service he works on a Naval base and still gets paid a doctor's salary while all those years are counted towards his military retirement pension. Not a bad deal. Too many people were sold the college dream and basket weaving degree that now can't find work and sit on a hefty loan payment. Totally agree. Quote Link to comment Share on other sites More sharing options...
wagner Posted May 19, 2014 Report Share Posted May 19, 2014 If you can't afford to go to college then find someone to pay the bill for you! Screw student loans and all the BS that goes with them. I know people that had over $800k in student loans and I honestly don't know how they slept at night. If your field/degree isn't going to make you enough salary a year to benefit a return of the student loan debt then you are wasting your time IMO. It's not worth going $60-100k in debt if you are only going to make $40k a year. Too many people were sold the college dream and basket weaving degree that now can't find work and sit on a hefty loan payment. http://www.truthbomb.com right here. Its like that line in PCU when Droz says: "Sanskrit? You are majoring in a 5000 year old dead language?" You can replace "sanskrit" with "liberal arts" and its about the same deal. I worked 2 part time jobs while in college to help pay, plus worked 2 jobs during the summers. Quote Link to comment Share on other sites More sharing options...
Geeesammy Posted May 19, 2014 Report Share Posted May 19, 2014 If you can't afford to go to college then find someone to pay the bill for you! Screw student loans and all the BS that goes with them. I know people that had over $800k in student loans and I honestly don't know how they slept at night. If your field/degree isn't going to make you enough salary a year to benefit a return of the student loan debt then you are wasting your time IMO. It's not worth going $60-100k in debt if you are only going to make $40k a year. Too many people were sold the college dream and basket weaving degree that now can't find work and sit on a hefty loan payment. :nod: 3 people from my graduating class of 71 students graduated college year ago with a Communications degree. One is working at McDonalds, the other for Applebee's and the third is back in mom's basement unable to find any job :dumb: Quote Link to comment Share on other sites More sharing options...
Sturg1647545502 Posted May 19, 2014 Report Share Posted May 19, 2014 :nod: 3 people from my graduating class of 71 students graduated college year ago with a Communications degree. One is working at McDonalds, the other for Applebee's and the third is back in mom's basement unable to find any job :dumb: yea that'll teach 'em to make fun of you and your woymn's studies degree. Quote Link to comment Share on other sites More sharing options...
coltboostin Posted May 19, 2014 Report Share Posted May 19, 2014 Not always. And not in the big cities. After med school you have 3-7 years for residency where you make minimum. Just enough to pay interest if you're lucky. Yes, but there is a goal- and a clearly marked path to get there. 200k up form in cost makes sense when you stand to make 2-4 million in the next 10 years, especially when most of that debt will be paid off or forgiven. That’s not an issue IMO. I think it starts with the 30-60k "average working stiff" jobs that REQUIRES a BS to apply. That in itself is BS! You want a guy that is not going to make enough to support his family be forced to waste 4 years of his life getting a piece of paper to apply for said job? Then, have 40-60k in debt that at a minimum repayment will take 10-15 years to pay off with over 100k paid at that point? Junk. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted May 19, 2014 Report Share Posted May 19, 2014 Marc does banking, doesn't he? I wonder if he can help with loans like this. Sorry man, the only loans I do now are for mortgages. I know there are banks that will allow you to consolidate your student loans but it may make more sense for you to just over pay them and pay them off sooner. It's what I did. As others have said, there is a price to pay for someone loaning you uncollateralized money. If you do not want to pay the interest, over pay as much and as often as you can to pay off your student loans as quickly as possible once you graduate. It may suck to live 'poor' after you graduate but it is a nice feeling to not have student loan debt hovering over you. Mortgage interest, amortized over 30 years, is staggering. But, that is how the bank makes its money. If you don't like it, save your money and pay cash for your house. Or, be smart and overpay your mortgage. Funny enough...I help lots of people pull the equity OUT of their home so they can invest it with higher returns. -Marc Quote Link to comment Share on other sites More sharing options...
n2omike Posted May 20, 2014 Report Share Posted May 20, 2014 The military has some awesome benefits when it comes to college. You can join the National Guard, and they will pretty much pay your whole way. You can join ROTC in college, and they will pay your way, and give you a salary to boot. When you graduate college, you'll be an officer in the Reserves, and generally have the option to go full time, and if you decide to make the military your career... you still have the college degree to fall back on when you retire at age 40 or so. Look some of the stuff up. The military has some killer options out there. Quote Link to comment Share on other sites More sharing options...
Mojoe Posted May 20, 2014 Report Share Posted May 20, 2014 ^^Pretty sure you missed all of page 1. Quote Link to comment Share on other sites More sharing options...
copperhead Posted May 20, 2014 Report Share Posted May 20, 2014 Sorry man, the only loans I do now are for mortgages. Can I mortgage a GTR? Mortgage interest, amortized over 30 years, is staggering. It's easiest to just assume that whatever the purchase price is of the house is only half of the grand total you will pay on a 30 year note with interest. Look some of the stuff up. The military has some killer options out there. Not that the military is an option for the OP (he's deaf), but they ain't hiring right now either. Right now they are only taking in 20% of applicants. It'll take years (or another war) for that to be a good option again. They want to reduce ranks, which means having to shed a lot of existing members. Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted May 20, 2014 Report Share Posted May 20, 2014 Not that the military is an option for the OP (he's deaf), but they ain't hiring right now either. Right now they are only taking in 20% of applicants. It'll take years (or another war) for that to be a good option again. They want to reduce ranks, which means having to shed a lot of existing members. It's like any other company, business, or field...they are always hiring the HIGH DEMAND and much needed jobs. They are not taking the guys that barely got through high school and barely passed the ASVAB... You've got to educate yourself and adapt to the market/jobs, unless you are starting your own business then you've got to take what you can find if you don't have any education, training, skills, etc... Quote Link to comment Share on other sites More sharing options...
Mojoe Posted May 20, 2014 Report Share Posted May 20, 2014 Not that the military is an option for the OP (he's deaf), but they ain't hiring right now either. Right now they are only taking in 20% of applicants. It'll take years (or another war) for that to be a good option again. They want to reduce ranks, which means having to shed a lot of existing members. This military is always hiring. It's not that they aren't taking people. They are weeding people out. It's always been less than 1% of people who actually qualify to get in. By the time they pass medical and checking their legal background, many just don't make it. As well as, they need to pass the ASVAB. And even with that, there is a certain number of people each year they have to let in, that almost passed the test. If someone is qualified and what they want to do has an opening, they can get in. "Only taking 20% of applicants", where did you get that info? Quote Link to comment Share on other sites More sharing options...
copperhead Posted May 20, 2014 Report Share Posted May 20, 2014 This military is always hiring. It's not that they aren't taking people. They are weeding people out. It's always been less than 1% of people who actually qualify to get in. By the time they pass medical and checking their legal background, many just don't make it. As well as, they need to pass the ASVAB. And even with that, there is a certain number of people each year they have to let in, that almost passed the test. If someone is qualified and what they want to do has an opening, they can get in. "Only taking 20% of applicants", where did you get that info? http://www.washingtontimes.com/news/2014/may/13/uncle-sam-doesnt-want-you-military-now-turns-down-/ Ignore the video at the top Quote Link to comment Share on other sites More sharing options...
Mojoe Posted May 20, 2014 Report Share Posted May 20, 2014 That's an interview, and the opinion of one recruiter, in Kansas City . If he's crying about not being able to get qualified people, imagine if a Chicago recruiter had been interviewed. The only real number in recruiting is, that less than one percent of Americans actually qualify. By the time you have the ADHD meds that everyone is put on, other medical issues, followed by legal disqualifications, and lets not forget the education requirement, it slims out many people. The military isn't turning anyone away that is qualified. Quote Link to comment Share on other sites More sharing options...
wagner Posted May 20, 2014 Report Share Posted May 20, 2014 That's an interview, and the opinion of one recruiter, in Kansas City . If he's crying about not being able to get qualified people, imagine if a Chicago recruiter had been interviewed. The only real number in recruiting is, that less than one percent of Americans actually qualify. By the time you have the ADHD meds that everyone is put on, other medical issues, followed by legal disqualifications, and lets not forget the education requirement, it slims out many people. The military isn't turning anyone away that is qualified. The truth does not make for good news in today's world... Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted May 21, 2014 Report Share Posted May 21, 2014 Holy FUCK, mother of God, Allah, whatever the fuck. I happened to look at my Nelnet account to see where I am at currently. I see it's 38,000. I think that's not too bad since that's for both undergrad and graduate. A bit browsing later, I about had a coronary. It'll actually end up over 53,000. WIth this one fucking loan accruing 11,000 FUCKING dollars in JUST FUCKING INTEREST. Yes, I'm bitching and moaning, fuck off. Quote Link to comment Share on other sites More sharing options...
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