SCHOOL LOANS

[Stealth]

I graduated undergrad with 17K in loans, and grad school with another 93K in loans (that's with a 75% scholarship too). That's 110K total. What they don't tell you is that with interest on a 30 year repayment plan, it comes up to being like $200,000. Payments are about 815 per month.

It's a total bitch. You gotta weigh out how much of an increase in salary you can expect v. how much you'll be paying in loans until you're about 55-60.

Then again, I live in Pittsburgh. I'm pretty sure if I went out west my paycheck would double and paying loans wouldn't be much of an issue.

I totally 100% advise you get an education, and NYU is a hell of a good school. Just be careful about it. Live like you're poor over the next 4 years or you'll be paying for it for the rest of your life. I took out all these loans to go to Amsterdam multiple times thinking I'd just pay it back when I got a job.

Then the economy crashed and now I work at a job where I hear the words "single wide" and "double wide" on almost a daily basis.

 

[vinylfiend]

Im lucky that when I graduated from Kaiser X-ray school a year and a half ago I only had $8K in loans to a payback. I owe a little less than 5K right now. Im bout to pay that bitch off in one check sometime this year.

It surprises me how expensive Culinary school costs. It's all what you make of it and put into it when you go to school/work. My friend who graduated from Culinary school in frisco about 6 years ago just got promoted last year from head chef of Ebay employee cafe in San Jose to Chief Chef of the SF 49ers! Im real proud of him, he just met the commish Roger Goodell last week as he was in santa clara to hear the proposed new stadium idea. He's met everybody, says the new rookie Linemen are HUGE!

 

[ColdBlooded]

Can you get them to bump your acceptance to the next year? You might be able to save some money if you work for a year and live in NY to develop residency so you're not paying out of state tuition costs.

Hit up Fafsa. Start looking to independent scholarship opportunities.

I went to my home state’s number one public university and have about 25k in debt, but I was able to consolidate my loans prior to Bush fuckin shit up so I’ve got an interest rate at about 2% currently. So I pay about $75 per month on my loans, but currently because I’m enrolled at least part time in school my loans are deferred so I’m not paying anything.

 

[ColdBlooded]

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.

There is also teach for america.

• Loan forbearance (a period of time during the repayment period in which the borrower is permitted to temporarily postpone making regular monthly payments) and interest payments on qualified student loans during their two years of service.
• Loan cancellation programs through some state and federal agencies for corps members who complete their two-year teaching commitment.
• An education award of $4,725 at the end of each year of service (a total of $9,450 over the two years), which may be used toward future educational expenses or to repay qualified student loans.**

 

[GHP]

an NYU masters degree will hold alot of weight but i'm sure if you got accepted to a prestigious school like that you probably have other less expensive schools looking at you as well. Coldblooded had some good advice in trying to get you acceptance pushed back to get in state rates though.

Luckily I have the GI bill and tuition reimbursement from my job to handle my BA. My Bachelors is gonna take longer because of the math requirements though I may have to take some loans out eventually and will definatly if i decide to go for my MBA. ASU isn't super expensive though but if I got accepted to a prestigious school down the road it would be tough to turn it down, it would be worth it

 

[Artistic]

what are you studying?

i owe 10,000 in loans to Berkeley for my undergrad. I still gotta finish 2 semesters for my bachelors. the 10,000 is prolly like 13,000 now with interest stacking up.

i ain't gonna do any more school after i get my bachelors though. im not trying to owe any additional loans besides what i already do.

i haven't paid anything on my loans. What sucks is they snatch my tax return every year because i basically owe that money to the government.

 

[Likwid]

All that to become a teacher? You must REAAALLY LU DA KIDS. lol.

 

[Dana Dane]

im gonna have somewhere in the 100k zone for my school loans by the time im done. worth it though. should be able to make like 40-60k a year once i finish

I make 40k a year and didn't have to pay 100g's to do it.

 

[SeriouslyThug]

thank god i fix computers for a living, well enough to pay bills n rent.
the loans are setup to break u of course, like everything else you get "Taxed" with...

o l know many ppl with PHDs and seen a documentary about ppl wth phds, such as lawyers n shit who graduated wtih 100 grand + in debt, and now they cant find jobs.


edit: send me a pm if u want my advice

 

[Stealth]

The best part is that if you're a lawyer and you file for bankruptcy, you pretty much get disbarred.

 

[Artistic]

graduated wtih 100 grand + in debt, and now they cant find jobs.

thats what you want to try to avoid.

i remember i met some dude who owed more than 100 gs because he went to harvard and had earned a phd there. i was sitting there thinking and you ain't got a job. whats the point? some people get degree happy.

 

[Infantry Elite]

I make 40k a year and didn't have to pay 100g's to do it.

and what do you do?

 

[SeriouslyThug]

back in the olden days bro, an education was cheaper to get.

 

[Dana Dane]

and what do you do?

customer service. meaning, not a fuckin thing.

 

[carl winslow]

damn. good stuff from everyone. this is one of the most crucial calls ive ever had to make in life. i have people like my girlfriend who say "just do it. its what youve wanted. you can worry about the money later. it will all work out." or my buddy whos about 90k in loan debt that says, "dont even think about the money. money will always come and go, but an opportunity like this won't always be there." but then there are people who say "just go to a cheaper school. its not worth it. when it comes time to making those payments youre gonna hate it."

i agree with both. im studying the sociology of education. my 3 options after receiving the degree will be 1- to teach. id like to teach high school english or history (any subject in which i could inject sociological ideas). 2- work for a research firm. this could either be high paying with the gov or low paying with a non profit or something. or 3- get my phd and become a professor. phd meaning more loans, but also more money. at the moment, id feel like id rather teach. i feel this degree will give great knowledge to teach with and an edge over other teachers applying at schools. but who knows where my interests shift in the 2 years im in grad school? thats the whole thing about this...who knows?

im starting to consider bumping my acceptance to the following year though. that might be a good idea.

 

[Mac Jesus]

I hate working in customer service, and could never imagine doing this for the rest of my life. I could get a job working in the oilsands and make 80-100k per year, but I also do not want to be a rig pig out in McMurray.

I'm going to school to do what I love, if I only make 40-60k a year so be it. But them loans will fuck you up in a major way. Live poor while in school, you don't need to be going out for dinners, or eating anything other than kraft dinner and those instant noodles. Work while going to school, there's no excuse not to. Fuck drinking every weekend and if you smoke quit. Do everything and anything to ensure you finish with as little debt as possible. Otherwise that dream job isn't going to seem worth it.

 

[carl winslow]

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........

if you could take it back would you? going to culinary school that is.

I graduated undergrad with 17K in loans, and grad school with another 93K in loans (that's with a 75% scholarship too). That's 110K total. What they don't tell you is that with interest on a 30 year repayment plan, it comes up to being like $200,000. Payments are about 815 per month.

It's a total bitch. You gotta weigh out how much of an increase in salary you can expect v. how much you'll be paying in loans until you're about 55-60.

Then again, I live in Pittsburgh. I'm pretty sure if I went out west my paycheck would double and paying loans wouldn't be much of an issue.

I totally 100% advise you get an education, and NYU is a hell of a good school. Just be careful about it. Live like you're poor over the next 4 years or you'll be paying for it for the rest of your life. I took out all these loans to go to Amsterdam multiple times thinking I'd just pay it back when I got a job.

Then the economy crashed and now I work at a job where I hear the words "single wide" and "double wide" on almost a daily basis.

so if you could take it back would you? is there any way to lower those monthly payments?

 

[Artistic]

to be blunt mr winslow you don't need a PHD to be a teacher. You can be a teacher with a bachelors from pretty much any college or university.

 

[ColdBlooded]

I make 40k a year and didn't have to pay 100g's to do it.

40k in Vallejo, CA is about $29k where I'm at.

In comparison if you were making 60k here it would be about 84k in Vallejo, CA

Throwing around earnings comparisons isn't all that useful without context like cost of living.

 

[carl winslow]

to be blunt mr winslow you don't need a PHD to be a teacher. You can be a teacher with a bachelors from pretty much any college or university.

if i had a phd id be a professor. im not sure im gonna want to go as far as getting a phd though. and though you only need a bachelors, most teacher's...at least at the school i work at now, which is a regular puplic high school, have master's degrees..at least the young ones coming in do. because of the layoffs and stuff, its getting much more competitive to get hired now.

but im not doing this specifically to become a teacher. im doing it to get the most out of a quality education. when im done thats when ill decide if i want to teach or do the other things i mentioned