I'll be entering my sixth year of college in the fall and it's depressing me to see how much I've accumulated in student loans. Granted, I will walk away with a master's degree, but how much is too much? Everyone says not to worry, but it's hard not to when you're 24 years old and already $85,000 in debt. So, I'm curious... with the rising price of higher education, how much do you or will you all owe in student loans?
2006-07-30 05:30:38 · 0 answers · asked by Robyn F. 2 in Education & Reference ➔ Financial Aid
I'm very lucky as I went to a state university for undergrad and only accumulated about $15,000 in loans. The majority of what I will owe is from my graduate loans. When I'm done in the spring of 2007, I'll have a masters of science in Speech-Language Pathology. My income will really vary depend on where I get a job (what setting and what geographical location). Realistically, I'll probably start right around 40K per year.
2006-07-30 06:02:49 · update #1
My four year degree = $80,000 and the APR isn't fixed. I have a ten year note and am paying around $650-700/month.
The kicker? When I graduated, I was hired for what I went to school for and it doesn't pay nearly enough. I waitress nights to help with everything.
:)
2006-07-30 15:58:49 · answer #1 · answered by Nikki 3 · 1⤊ 0⤋
1
2016-10-24 16:08:37 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Well, I am currently an undergrad studying to be a speech pathologist. I was awarded with several scholarships which are given each quarter. So, I am lucky and don't have any student loans. However, when I get into grad school, I don't know how much financial aid I will get.
From what I've heard, it is hard to get your masters in speech and still have a job working a decent amount of hours. With housing, my bills, car, school, etc. I will probably have to take out some student loans.
As for your debt, that's a lot. Especially on the type of salary SLP's make. However, I love the profession, and I think it would be worth it. Good luck!
2006-07-30 16:29:27 · answer #3 · answered by smm_8514 5 · 1⤊ 0⤋
Well, I earned my bachelor's about eight years ago and finished my Master's two years ago. I owe a total of about $15,000. We also still owe about $300 on my husband's student loan--and he didn't finish a degree.
Here's the catch, though. I went to state universities; I also worked while getting both degrees, was able to get grants and scholarships while I earned my bachelor's, and I've been fortunate enough that I've had about $6,000 cancelled over the years because I teach in a low-income school district. Another $5,000 will be cancelled in two years for the same reason.
It really depends on what you're going into. What I would do to make myself feel better is this...1) find out how much you will be making when you get a job in your field (by the month) and 2) figure out how much your loan payments are going to be...all you have to know is the interest rate, the amount of the loan, and how long you have to pay it off. There are lots of free loan calculators online; your bank might be a good place to look first. Then ask yourself, is it reasonable that you will be able to pay back your student loan? You might be stressing yourself out over nothing...it really depends on what you've gone to school for.
2006-07-30 05:44:20 · answer #4 · answered by Kiki 6 · 0⤊ 0⤋
My husband owes 34,000, but a lot of that is interest from the past few years. We couldn't afford to make payments, and the interest is killing us. It was only 25k when he was done with school.
Make payments now if you can, while you are still in school. You aren't earning interest, so even $25 here and there helps. The interest will KILL you on a debt that high, and the payments you make once the interest starts to build will only cover interest.
2006-07-30 05:38:08 · answer #5 · answered by Anonymous · 2⤊ 0⤋
I just finished getting my bachelor's degree in four years. I only owe $38,000. I went to a state university and also had scholarships.
2006-07-30 05:33:44 · answer #6 · answered by penpallermel 6 · 0⤊ 1⤋
It takes 6 seconds for YAnswers web page to open for me to be able to click on [add your answer] box. is my laptop slow??
2016-08-23 03:09:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋
More details needed
2016-07-27 05:28:59 · answer #8 · answered by ? 3 · 0⤊ 0⤋
I have none yet, but give me a year or two and that will all change.
2006-07-30 11:02:58 · answer #9 · answered by Wannabeadoc06 3 · 1⤊ 0⤋
Never really thought about this
2016-09-19 20:06:09 · answer #10 · answered by Anonymous · 0⤊ 0⤋