Quote:
Originally posted by Rudey
Go back to school half-time for a short amount of time, take out as small a loan as possible, and try and consolidate again and see if your rate shoots down
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Rudey,
Unfortunately once you consolidate that is it -you cannot consolidate again
. (believe me i have tried) I actually e-mailed Suze Orman to see what she thought about getting a home equity loan to pay off the student loans-home equaity loans were at about 4% earlier this summer but alas, in Texas you can only take 80% of your home equity and use it as a loan and that only would pay for 1/3 of my loans.
I am not sure if Discotish was also referring to me investing. I have already graduated (almost 7 years ago) and believe me I am paying heavily for these loans, in fact the first 12 months 99.9% of my payments per month (600$) went towards the interest. In school I had no way of paying for my tuition so I had to take out student loans, now that I have graduated and am in my 30's I have to think about retirement so investing to me is a bit more important right now then paying these off so I pay the minimum each month. Maybe all of the prisoners who are getting a "free" college education should pay some of the needy students tuition-but I guess that is an entirely different topic.
I did use part of my student loans (about 2000$) for car payments but how else was I suppose to get to and from school? (and don't say use the bus b/c the bus doesn't run in College station after 10 pm and when you are in veterinary school you are in labs sometimes well after 10)
No one I knew wanted student loans but it was a fact of life, I am just glad I graduated a several years ago, the new graduates have over 100,000$ worth of debt-I can't imagine having this monkey on my back.