Loans - Page 2

MooseGirl · #16 09-17-2003, 12:16 AM

gee, a lot of you got nothing!

I've got just over $40K in student loans, and just under 10 Grand in credit debt(although that's not ALL school related).

I expect to be broke the rest of my life. I seriously do not plan on ever buying a house. I was born poor, raised poor and will likely die poor...

BTW, that is in Canadian funds.

TexasAGD · #17 09-17-2003, 12:40 PM

[QUOTE]Originally posted by CatStarESP4
[B]Don't get me started with loans. I owe about $75K in total (undergrad and my brief grad school career). I wish that my parents had started saving before I was born.

Dang! I could sure use that 75K for something else. I'm thinking about taking out a bank loan to pay off my credit cards (3 of them) because their interest rates seem lower. Anyone have money trees growing in the back of their yard that I can plant in mine?

Eirene_DGP · #18 09-17-2003, 01:45 PM

I have about $31K in student loans, but luckily they will be canceled my 5th year teaching.

damasa · #19 09-17-2003, 01:49 PM

I have very little debt right now. I took out a small student loan last year about $4,000 and that's all I owe. I don't owe anything on any of my credit cards and my car is paid off.

Not like it matters though because law school is going to be the killer for me.

PurdueGirlie · #20 09-17-2003, 04:06 PM

I paid for my first two years at Purdue with the help of all of the money I had saved during the 18 years of my life ($12,500), graduation money, 2 scholarships... and the rest, my mom gave me.

But from now on, I'm on my own. I had to take out a loan this year, in my name. I took out $22,000.... and next year, I'm going to take $23,000 out.

And then I have 2-3 years of grad school ahead of me! I hope my husband doesn't have any loans to pay back... and if he does, I hope he has a good job because I'll be paying mine back for quite some time!

DeltAlum · #21 09-17-2003, 09:05 PM

We were able to pay for our daughter's entire college costs, including a small condo for her to live in. What was really helpful, was that we started mutual funds in each of the kids names about 10-15 years ago. With those, we were able to pay the rest out of my salary, as well a $9K for cosmotology school for daughter number two.

When the economy went bonzo, son's mutual fund took a beating, but he got basically a full academic ride, so was able to take part of the mutual fund and buy a used car.

For those of you planning to have children, I highly recommend that mutual fund route. Start small and build up the amount you can put in as your salary increases.

When college time comes, you'll be amazed at how much you've managed to save.

(My parents paid tuition for me (about $250/quarter) and I paid the rest -- but I was making what seemed like a lot of money compared to other kids as a disk jockey and then a TV announcer on weekends and working for the university broadcasting services during the week. So I started off with no college loans)

AOIIBrandi · #22 09-18-2003, 09:29 AM

I have close to 40G as does my husband

mullet81 · #23 09-21-2003, 02:38 AM

I'm very lucky. My parents agreed to pay for 4 years of college if I agreed to work hard all 4 years. Anything beyond 4 years is up to me to pay for though. So once I strat graduate school, I know I'll be taking out the max.