Student loans

[gatoveintisiete]

Who has had one? What was your highest unpaid balance? How old will you be when they are paid off?
What was the degree you were after? Did you get it?  Did you get a job in that field? Has your investment in education (student loans) paid off?

[bones129]

Who has had one? What was your highest unpaid balance? How old will you be when they are paid off?
What was the degree you were after? Did you get it?  Did you get a job in that field? Has your investment in education (student loans) paid off?

I'm too lazy to answer all the questions with the detail sought. Suffice it to say I had a few, owed a lot, paid them off, got what I wanted, and my investment paid off. 

[Tobias]

28k for undergrad degree, will be paid off next year I think (fringe Station employability).  have a job in one of my fields, cost less than a new car, seems pretty dece?

[gatoveintisiete]

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?  Now do a return on investment calculation for how much more you make with your degree.

[Tobias]

hehe

[gatoveintisiete]

There could be some spectacular returns like, yeah I borrowed  100k now I'm an engineer and make 150k a year, so I figure my 100k investment is earning me 110% interest year in year out.

Example of good investment (not mine)

[Tobias]

27cat killing it, as usual

[steve dave]

not sure about me personally but mrs. dave and I combined had ~$80k at one point. mrs. dave is dr. dave so more of that is her than me but I also had a lot. definitely worth it.

[Canary]

I was lucky. Full scholarship first two years, loans for the next two. Private school is expensive. I paid my loans of within four years of being out in the work force. No loans for the pursuit of advanced degrees; paid as I went.

[GoodForAnother]

the wife and I had a combined 110k, got it down a bit now, if we pay on time it'll be gone in 15 years but I usually throw extra money at them to get them down faster

[Rage Against the McKee]

I didn't take any student loans. Just worked on campus like 6 hrs per week and graded tests. K-State is pretty cheap, guys.

[meow meow]

I didn't take any student loans. Just worked on campus like 6 hrs per week and graded tests. K-State is pretty cheap, guys.

you made it thru school on about $200/month?  link?

[Rage Against the McKee]

I didn't take any student loans. Just worked on campus like 6 hrs per week and graded tests. K-State is pretty cheap, guys.

you made it thru school on about $200/month?  link?

It was about $800 per month. I was leaving out the 4 open hours I had to sit around and help people with their homework. Made about $20 per hour. Also worked through the summer and my parents contributed about half of tuition. Had scholarships, too.

[meow meow]

I didn't take any student loans. Just worked on campus like 6 hrs per week and graded tests. K-State is pretty cheap, guys.

you made it thru school on about $200/month?  link?

It was about $800 per month. I was leaving out the 4 open hours I had to sit around and help people with their homework. Made about $20 per hour. Also worked through the summer and my parents contributed about half of tuition. Had scholarships, too.

so basically you left out about 80% of where you're money came from, great post

[The Big Train]

more than i would have liked

[Rage Against the McKee]

I didn't take any student loans. Just worked on campus like 6 hrs per week and graded tests. K-State is pretty cheap, guys.

you made it thru school on about $200/month?  link?

It was about $800 per month. I was leaving out the 4 open hours I had to sit around and help people with their homework. Made about $20 per hour. Also worked through the summer and my parents contributed about half of tuition. Had scholarships, too.

so basically you left out about 80% of where you're money came from, great post

Thanks 

[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.

[puniraptor]

i got out with just under 40k total in student loans. i took the bare minimum to pay tuition every year (6  ) except the last year where i took out 15k to live in luxury and buy a hellantra.

my base compensation was below avg market value for my degree, but i did get student loan repayment as a hiring bonus so that turned out pretty nice.

i'm not doing any calcs for you though.

[CNS]

Grad'ed with $21k in loans.  CNSWife had no loans.  Paid $207 a month for a decade.  I have a job in my degree.  As far as financial return for me, it is as no brainer as breathing.

[Fedor]

Undergrad
Fedor - Had a tiny loan when I got out.  (worked, schollies and mom and pops covered the rest)
Mrs. Fedor - around 15k (schollies covered almost all, but screwed up last year and did not get the paperwork in on time, took out max loan...partied)

Grad
Mrs. Fedor returned to school recently (i.e. as an old person)  app. 40k in loans (interest rate is much higher than undergrad btw  ) will be paid off in 10 yrs total. 

Worth it - Absolutely. In nearly every way imaginable.

[mocat]

if anything i would have taken out more loans and studied abroad as much as possible

[Dugout DickStone]

if anything i would have taken out more loans and studied abroad as much as possible

I borrowed more so I could go to a baller ass grad school in a great city.  Worth it X100

[star seed 7]

if anything i would have taken out more loans and studied abroad as much as possible

I borrowed more so I could go to a baller ass grad school in a wicked great city.  Worth it X100

[steve dave]

if anything i would have taken out more loans and studied abroad as much as possible

yes, absolutely

[Skipper44]

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?