I picked up my financial aid packet the other day in preparation for my exit interview. It included a summary of my student loans. I wasn't exactly surprised by the number, but it did make me feel sick to my stomach.
Ready for it?
Fed Perkins Loan: $1800
Fed Sub Stafford Loan: $34,000
Fed Unsub Stafford Loan: $46,000
Grad PLUS Loan: $133,362
For a grand total of... $215,162.00
Was law school worth it? Uhh. We'll see in a couple months...
4 hours ago
9 comments:
Ouch! That is a large number. I wish you every success in finding a great job that helps you turn that number into a smaller number.
Whoa girl, that is ... yeah.
Well, if you need help getting your repayment plan together, you know plenty of us are willing to help!
I remember that day, it's a lot to absorb. Good luck to you!
At least your increased earning power should help you keep up with it! Any news on what the monthly payments would be?
You know, you're only the second person I've "seen" with loans larger than mine. You're $10k higher than I was back in 2005 when I graduated. First thing I say, it'll be all right :D.
Second thing I say, the best thing I ever did was open up a separate account solely for my loans. The only transactions into and out of the account are loan payments. And pay off that silly Perkins loan before your grace period ends. You have bigger fish to fry.
Remember, you're not the first, you won't be the last, and we're here to help you along the way.
Thanks for the support, everyone!! It means a lot :)
@paranoidasteroid: At one point I ran the numbers and it was going to be $1400. It depends on the repayment plan I choose, but at the current standard one, it'll be between 1400-1600, I think. :\
@Aaren: I'll definitely open up a separate account... that's a good idea. So you just have part of your paycheck automatically deposited in there? I agree, I need to get rid of the Perkins. Maybe it can come straight out of my bar loan... (more loans! ugh)
Yep. I have a portion of my paycheck directly deposited into that account, enough to cover the deposits plus add a few hundred here and there to accelerate payoff. That way I don't have to remember to do it, don't have to stress about not having enough money for other things, etc. I don't even budget it, though I do check all correspondence to make sure if payments or rates go up or down I have notice. Surprisingly enough, it's my most hassle-free loan because of that separate account.
Consolidating debt
If you are going to consolidate your debts make sure you find the best consolidation option for you and the right company to help you.
Debts Written Off
Debts can be written off quite easily if they have beentaken out before April 2007. You can do this through an unenforceable credit agreement and it can get you debt free in approximatley 6 months
Trust Deed
Trust Deeds can wipe out up to 90% of your unsecured debts. By this I mean credit cards, loan and HP etc. Why struggle with your finances? Just get them written off and move forward with your life!
Trust Deed FAQ
If you live in Scotland you could get a Scottish Trust Deed. A Trust Deed can get you debt free in 3 years and wipe out up to 90% of your debts. So if you owed £50,000 you could get up to £45,000 written off, depending on your financial circumstances.
Thanks for giving such a great information. To get more information Buy Viagra Online from Buy Cialis Online.
Post a Comment