Student loans

[kstate16]

Graduated with an engineering MS/BS and +$40,000 in student loan debt.  So basically all of school, had some schollies and parents helped when they could.

However, one thing I regretted- not refinancing my loans earlier.  Had to take out private loans because my parents made too much (lol) for federal assistance loans. Guess it didn't help they were both self employed at the moment? Idk, it was a joke if you ask me. Anyways, with private loans can come high interest rates, which for me ranged from 8-10%.

Within a year of being post-grad, and seeing my interest statement to file for taxes, i about cried. Decided to do some research, and took awhile, but found a couple good resources for refinancing. I used 'Darien Rowayton Bank' but SoFi was offering simliar deals. Got my loans consolidated and down to 2.5%.

So basically I figured out my payments so that my interest paid for student loans in a year is exactly the max amount to deduct from my taxes.

Long story short, student loans are pretty much a 'standard' in today's education, but do your research and be smart about what interest rates you agree upon. And eff Sallie Mae with a 10 foot poll wrapped in barbed wire.

[sys]

What would a typical government job that doesn't require a college degree pay, say a post office job in Kansas.  Would $40,000 be close?

postal workers make much more than this.  but those jobs are quite difficult to get.  you can't just assume you'd be able to secure one.

[Dugout DickStone]

Graduated with an engineering MS/BS and +$40,000 in student loan debt.  So basically all of school, had some schollies and parents helped when they could.

However, one thing I regretted- not refinancing my loans earlier.  Had to take out private loans because my parents made too much (lol) for federal assistance loans. Guess it didn't help they were both self employed at the moment? Idk, it was a joke if you ask me. Anyways, with private loans can come high interest rates, which for me ranged from 8-10%.

Within a year of being post-grad, and seeing my interest statement to file for taxes, i about cried. Decided to do some research, and took awhile, but found a couple good resources for refinancing. I used 'Darien Rowayton Bank' but SoFi was offering simliar deals. Got my loans consolidated and down to 2.5%.

So basically I figured out my payments so that my interest paid for student loans in a year is exactly the max amount to deduct from my taxes.

Long story short, student loans are pretty much a 'standard' in today's education, but do your research and be smart about what interest rates you agree upon. And eff Sallie Mae with a 10 foot poll wrapped in barbed wire.

You know that the deduction is really worthless if you make any type of a real living, right?

[8manpick]

What would a typical government job that doesn't require a college degree pay, say a post office job in Kansas.  Would $40,000 be close?

postal workers make much more than this.  but those jobs are quite difficult to get.  you can't just assume you'd be able to secure one.

Also would be mind-blowingly awful as an occupation.  "Going postal" isn't a saying for no reason

[Asteriskhead]

What would a typical government job that doesn't require a college degree pay, say a post office job in Kansas.  Would $40,000 be close?

postal workers make much more than this.  but those jobs are quite difficult to get.  you can't just assume you'd be able to secure one.

Also would be mind-blowingly awful as an occupation.  "Going postal" isn't a saying for no reason

can-rough ridin'-confirm

[8manpick]

Also, regardless of ROI, what likely leads to a more fulfilling, interesting life, socializing with your commodities trader friends after work, or your postal worker friends?

[michigancat]

I looked into business school, and I figured that unless I could get into a top 10 school the loans wouldn't be worth it financially.

i assume business school = MBA?  If so, it appears there is a bit of a glass ceiling for corporate jobs in KC w/o a MBA, is that not the case in in SF?

Yeah, MBA. It's not really the case in SF. I work for a large company that doesn't seem to value MBA's at all. There are some that do, but there are also a lot of startup-type companies that don't care at all.

[lopakman]

How do student loans work?   is it like a job application where you can lie about crap and then someone gives you money

[steve dave]

How do student loans work?   is it like a job application where you can lie about crap and then someone gives you money

no

[420seriouscat69]

Student loans are pretty flawed in a lot of ways. Growing up all you hear is to stay on the straight and narrow. However, you get penalized for doing so. You are classified as a dependent if you're under the age of 24, not married, or have no children. Independent students get a crap tone of grants and loans available to them. Dependents are restricted in both categories and it forced me to take out private loans to pay for the rest of my education. Oh well... Live and learn!

[sys]

you really mumped up not popping out a couple of kids before you were 24.  you got some bad advice.

[420seriouscat69]

you really mumped up not popping out a couple of kids before you were 24.  you got some bad advice.

Obvi!

[Stevesie60]

Mrs. Stevesie and I had probably about the average amount when we graduated. Some small scholarships, paid about $500 cash on our tuition each semester. Paid them off in three and a half years after graduating. Not a fun three and a half years, but I love not having an extra payment to have to make each month.

[CNS]

I was going to do a quick payoff, but at 3.25% and only a $200 payment, WGAF, amirite?

[sys]

I was going to do a quick payoff, but at 3.25% and only a $200 payment, WGAF, amirite?

i would pay back a 3.25% loan as slowly as possible.

[Mrs. Gooch]

I was going to do a quick payoff, but at 3.25% and only a $200 payment, WGAF, amirite?

i would pay back a 3.25% loan as slowly as possible.

Well I guess it depends on what you are otherwise doing with the money you would have paid it off with.

[GoodForAnother]

we refinanced the wife over to sofi, highly recommend them, in fact here's a referral link wow

https://www.sofi.com/refer/5/11861

[sys]

i was just saying what i would do.

[Kat Kid]

Also, regardless of ROI, what likely leads to a more fulfilling, interesting life, socializing with your commodities trader friends after work, or your postal worker friends?

[8manpick]

Also, regardless of ROI, what likely leads to a more fulfilling, interesting life, socializing with your commodities trader friends after work, or your postal worker friends?

I'm not 45 years old, so I the only thing I know about that show is the theme song

[michigancat]

I think I'd prefer postmen to commodity traders.

[Rage Against the McKee]

I think I'd prefer postmen to commodity traders.

That was my first thought, but then again, I don't know any postmen.

[slobber]

$1,500 in student loans when I graduated. That is like the equivalent of $95,000 in today's $.


Gonna win 'em all!

[slobber]

(I was the youngest in a large family. I purposely did not want to have a lot of student loan debt because I saw/heard the amounts my older siblings had. I worked through college and took a couple of semesters off for extended internships. Not saying it was right, but just what I did. Mom paid for about 15-20% of my college as well.)


Gonna win 'em all!

[michigancat]

My brother-in-law is a union lineman and he makes shitloads more than I do. He could easily die on the job, though.