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A Mountain I Created and Must Climb... (Reply to this comment)
by basileus1
I suppose I am one of those people who think that just like in Ireland university is free well so should it be. I am also a Canadian and American citizen and many Canadians think it should be since it is almost the equivalent of what a high school degree was in the past. However, the fact is student loans are out there and there is little help for young students, and many of us including me took out lots of loans.
I had American loans and Canadian. The American one I had from a school I didn't graduate from and I left the university and city in disgust and went to Canada. I was still in school, and sent the lenders my transcripts, but that wasn't enough. And I felt scared to face up to the idea of debts and wished them away. Now, I know better and I am paying them off, but they are so much. I have about 34 K in loans. It amounts to about 500 bucks a month or more. So I am thinking I might as well go to graduate school to get a higher paying job, because my teaching job doesn't pay enough and the loan cancellation available for teachers working in the inner city only applies to people who got the loans say around Clinton's presidency which doesn't help me. So am I upset? Yes, but it is of my own doing. But you would think they would give you some kind of break if you are paying every month on time or they would let you reconsolidate, but they won't even while corporations are getting bailed out all the time. Sorry for this ranting, but this topic upsets me.
Basil
watsonpi@yahoo.com
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Jan 03 '04
10:18 pm PST
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Thanks for sharing Amy (Reply to this comment)
by Gracye8
You've certainly given me something to consider before signing off on any more promissory notes. As a non-traditional student (after a tour in the military), that loan money is looking more and more promising as my student budget gets tighter and tighter.
The student loan can be a double edged sword, offering help and well as possible hurt.
Thanks for the warning, and thanks for sharing your very personal experience.
~ Gracye8
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Mar 24 '02
1:22 pm PST
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bella!! (Reply to this comment)
by Tibullus
I ran into much the same problem when I went through school, except in a little different way. Instead of taking out student loans that I didn't need, I ended up financing most of my personal life on credit cards that companies were all too eager to give me with no effort at all.
Eventually, I came to my senses (but not before hitting critical mass)... as a result, my credit is downright crappy, I have huge debts to pay off and not quite as much free income as I would like (I have since come to my senses and reworked my credit situation, but it took awhile)
Great review and a great warning to all...
marc
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Mar 18 '02
11:02 am PST
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Good advice (Reply to this comment)
by pipet
I think student loans can be a good thing if there is no other way to pay for tuition & books, but they are very dangerous when used for living expenses. Also, I know some people who only used their loans for tuition & such, but b/c they went to private schools & majored in a subject that is not the most monetarily rewarding, they are having a difficult time paying them off even with their degree. People definitely need to think twice before getting a student loan.
pipet
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Mar 07 '02
11:29 am PST
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I finally paid mine off two years ago... (Reply to this comment)
by MADYL
and I felt like I had the weight of the world removed from my shoulders.
Excellent advice!
Tammy
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Mar 03 '02
4:13 pm PST
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Ugh (Reply to this comment)
by jro26
I cringe when I hear 'student loans'. They are GREAT if you can pay the $50/month or whatever it is but when you have three loans, that can be up to $200/month....and if you miss a few payments...they'll tack on a good $400 to your total. If you aren't careful you'll be paying for many many years. We are finally DONE with ours.....they are paid off....BUT they will be on our credit report for a few more years as defaulted loans....grrr!!
Thanks for the read!
Jillian
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Feb 28 '02
3:58 pm PST
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For most families, though (Reply to this comment)
by jo.com
They are a necessity and you just have to hope for the best. I have a 21 yr.old applying to med. schools. She will go this year or next and we can't/won't pay the tuition! It will all be loans and it will be up to her as will many decisions in life to be able to pay them off. I do know many adults now who as "kids" did not pay them back on purpose (You may be too young to remember those days.) jo
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Feb 28 '02
4:43 am PST
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Thank you! (Reply to this comment)
by bluehawq
And my 18 year old son will be reading a printed copy if this. Him and his "wonderful" not needed, student loans. Maybe this will shed some light on his decision making.
Audrey
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Feb 27 '02
3:44 pm PST
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It took a lot of courage to share that... (Reply to this comment)
by theeye
not to mention acknowledging it to yourself. You should be proud of that. :-)
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Feb 27 '02
1:29 pm PST
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Thanks for sharing that... (Reply to this comment)
by 4-1-1
That credit monster can be an evil nemesis... even for smart people who should know better. And that money monster... that can be the worst kind of addictive drug of all.
I enjoyed the read,
Tom / 4-1-1
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Feb 27 '02
12:44 pm PST
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You raise an excellent point here, Amy... (Reply to this comment)
by Joubert
...one of the most difficult things for all students (including non-traditional) is to graduate and have the discipline to handle a mountain of date.
When this happened to my family (I was a traditional student who left midway through my junior year and finished 17 years later), we ended up charging the remainder of my student loan debt. *That* mess took a decade for us to end.
There's hope!
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Feb 27 '02
11:28 am PST
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