SCHOOL LOANS

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carl winslow

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#1
Dec 17, 2004
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#1
any of you guys in school loan debt? and how much?

just got accepted to nyu but wasn't offered any scholarships so will have to pay for it all in loans. as excited as i was to be living in nyc getting my master's this september, i'm now leaning more towards declining. by the time im done i think ill be like 70-100k in debt which scares the shit out of me. and i plan on either being a teacher or professor so im not gonna be making bank once i start working. so looks like i'll just stay stagnant here instead

just wondering if anyone is or has been in similar situation
 
Joey

Joey

Sicc OG
#3
Jul 2, 2002
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#3
carl winslow said:
any of you guys in school loan debt? and how much?

just got accepted to nyu but wasn't offered any scholarships so will have to pay for it all in loans. as excited as i was to be living in nyc getting my master's this september, i'm now leaning more towards declining. by the time im done i think ill be like 70-100k in debt which scares the shit out of me. and i plan on either being a teacher or professor so im not gonna be making bank once i start working. so looks like i'll just stay stagnant here instead

just wondering if anyone is or has been in similar situation
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I feel you...I have loans from the University of Phoenix which will start 6 months after i graduate.......O well school costs money....

On the other hand an experience like this..Going to NYC will be one of a lifetime....You will make connections out there and who knows where it will take you....R you from the Bay or have you been 2 NYC before?....Do you have family out there who you can chill with?....Dont decline it...
 
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carl winslow

Sicc OG
#4
Dec 17, 2004
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#4
^^from san diego. dont know anybody in nyc, so part of the loan costs will be for housing.

i accept that school costs money, but im questioning if i should pay such a high amount for a quality education and living experience. i was in nyc a couple years ago and fell in love with it. i wished to myself i would live there one day, but now i'm wondering if it's really worth it. career wise, it wont make me much more money, but will probably make finding a job easier.

i dont mind paying a school loan debt my entire life. my main concern is the monthly payment amount. if im gonna be paying more than $400 a month after i graduate, i dont know if i want that. id like to eventually own a decent car, home, and be able to maintain a family too you know. ive read some people are really struggling because of their monthly loan payments
 
marty50

marty50

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#5
Jul 6, 2008
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#5
i dont know man, are there any cheaper alternative graduate schools you can go to, within cali?

it might be cheaper in-state depending on your major, unless, the major you are in, has nyu as one of the top rated programs in the country.

but, if youare looking to experien ce the big apple, why not go to an in-state program and the money you save, you can go to nyc on summer vacations many-folds.

let me sum it up for you on what you may be facing, i got a friend taht is in his 40s that is still paying off his college loan and he still owes 35k.

now, depends if you still wanna live like taht when you hittin your 40s, son?
 
marty50

marty50

Sicc OG
#6
Jul 6, 2008
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#6
carl winslow said:
i dont know if i want that. id like to eventually own a decent car, home, and be able to maintain a family too you know. ive read some people are really struggling because of their monthly loan payments
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youre living in a pipedream dwag, snap out of it. unless, you want your wife to wear the pants around the house.

the way the economy is now, being a teacher aint gonna cut it. dont you get it, they are laying off teachers. this economy is gonna be stagnant for the next 5-7 years. 1-2 years dependign on the sectors, and the teaching sectors jsut aint cuttin it right now.

but im telling you that 100k loan would be better off used for a down payment on a house, something that you can hold onto.

but, whatever, i jsut think youare putting yourself at a risk here.
 
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carl winslow

Sicc OG
#7
Dec 17, 2004
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#7
^^^i agree totally with what you're saying. thats why im torn, cause im afraid im putting myself at risk, but also feel like im about to let a special opportunity slip away. and yeah, nyu and columbia univ. (just as expensive) are the two renowned schools for the program i'd be going into.

i wouldnt mind being like your boy, still paying off a loan at age 40...depends on how much the monthly payment is. do you know what it is? and do you know if he regrets it?
 
kingsix18

kingsix18

Sicc OG
#9
Oct 19, 2008
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San Diego
#9
My girl wants to become a teacher too and she heard of this program called APLE where they pay off your loans if you agree to teach at a low income area school. I don't know much about it like how much of your loan they pay off but I'm sure you could look it up. I think it might be only in California. But just look for programs that can help pay off your loans after school. I'm sure there are other programs like that in other states.
 
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MKB

Sicc OG
#11
Dec 19, 2002
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#11
That is a tough decision to make but it sounds like you really want to go. I only had 12k in loans when I graduated and it is $140/month so it isn't a big deal. Do a little research online and see what the loans are going to cost after you graduate but in the end it is only up to you and it really depends on how bad you want to go. I never went to grad school because I was tired of being broke lol.
 
Rusto

Rusto

Sicc OG
#14
Nov 2, 2002
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#14
I went to a cal state and tuition was relatively cheap, i didnt have to take out loans.

Try researching all the potential schools you could go to and see which has the lowest tuition
 
NiNe2FiVe

NiNe2FiVe

Sicc OG
#15
Apr 26, 2003
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East Oakland, USA
#15
Money aside; do what you want to do, if you want to blow $150K on art school to be a painter, be a painter and be happy. I have a real good job and make somewhere in that 45-55k a year and I hate my job, lol.
 
jsilva04

jsilva04

Sicc OG
#16
May 18, 2008
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#16
I graduated with 25K in loans and i make $14 a f* hour FML
my dad makes over 60k and never went to college
ur choice all i can say is do something ur passionate about.
 
Joey

Joey

Sicc OG
#17
Jul 2, 2002
4,090
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#17
marty50 said:
youre living in a pipedream dwag, snap out of it. unless, you want your wife to wear the pants around the house.

the way the economy is now, being a teacher aint gonna cut it. dont you get it, they are laying off teachers. this economy is gonna be stagnant for the next 5-7 years. 1-2 years dependign on the sectors, and the teaching sectors jsut aint cuttin it right now.

but im telling you that 100k loan would be better off used for a down payment on a house, something that you can hold onto.

but, whatever, i jsut think youare putting yourself at a risk here.
Click to expand...
How you gonna use a loan as a downpayment on a house?...Your gonna borrow something from someone..So you can go borrow more...You usaully save a downpayment..Not borrow one.... How is he gonna save that 100k and still hold his head afloat with all the other bills and things that pop up in life.....To get into a decent house its gonna take around 15-20k down payment..Maybe less maybe more...But somewhere around there....

If you want to be a teacher follow it homie.....Ill be done with my BA Degree from the University of Phoenix in October.....And i was wanting to get into teaching myself......Sure they are laying off teachers right now and who knows if they will hire more....But that bachelors degree will give you some leverage on the competition in many career fields.....Follow your heart...If your heart is teaching than fuckin go for it...I am......If it dosent work out...You have a degree that holds some weight....
 
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x-loc

Sicc OG
#19
Apr 25, 2002
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#19
i owe 130,000 dollars......was it worth going to culinary school fuck no.......but do i love cooking..yes its my passion.....i havent pay shit yet either.....i know i know........i am literally fucked........
 
rmillerpacers31

rmillerpacers31

Sicc OG
#20
Oct 2, 2006
4,405
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#20
Ive got like 50k in loans and I'm going to pay off my last semester in advance so I dont have to take out another school loan. Best advice to you is to make sure you have some sort of job while you are in school because the more you borrow now the more you gotta pay back when your done. Interest is a bitch.
 
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