2007-03-10 15:29:03 · 7 answers · asked by Canadian Time Traveler 3 in Education & Reference ➔ Financial Aid
At least one - me. I borrowed less than $2000 - now owe almost $5000. It's going up faster than I can pay it off. And I'm disabled!
Do whatever you can to get this paid off. If you have to sacrifice that flat-screen TV, do it. If you have to put off having a child for a year or two, do it. If you can work 2 jobs, do it.
It will stay on your credit report f-o-r-e-v-e-r. And maybe your grandkids' too!
2007-03-11 12:31:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If your answer for this question is yes, then chances are pretty good your financial situation would be the same with or without student loans. It has been proven time and time again that a college degree is worth it over your lifetime.
The problem is that most 18 year olds are not equipped or not interested in the financial aid process. With a little bit of research and understanding, there is no reason why every person in this country shouldn't be able to go to college, get a degree, and make a high enough salary to pay back that loan and live a pretty good life. It's all about choices. Just my opinion.
2007-03-12 02:54:33 · answer #2 · answered by Anonymous · 0⤊ 1⤋
When I was in college, my financial aid suddenly became due. I tried everything to make the bank realize that I was still in school, hadn't taken a break, and was still full time. They listend to their computers instead of me even after I'd sent them proof of continuous enrollment. In the end, I had to borrow thousands from my parents to pay it off. I'll never borrow money for education again, and on the day my daughter was born, I started putting away $250.00 a month in a mutual fund for her education (she's 7 now). When my son is born, I'll do the same thing.
2007-03-10 15:41:51 · answer #3 · answered by tranquility_base3@yahoo.com 5 · 1⤊ 0⤋
I was forced to drop out in 97, due to a series of errors on the part of the student loan board... one semester before graduating. I still get my GST and tax return taken, they demand a minimum payment of 487$/month (I make 900$), and don't give you any way to contact anybody - they removed the statute of limitations on student loans so they can keep haunting me the rest of my life. They ruined my promising life and career, as far as I'm concerned, I attempted suicide over it and everything, was homeless after they screwed me over, been getting back up now, but yeah, they destroyed my life.
2007-03-10 15:35:30 · answer #4 · answered by Anonymous · 1⤊ 0⤋
I owe on my student loans, but a meager amount of less than 2000. I have received merit based and financial scholarships. There is a way to recover from massive debt, but you have to research many financial aid and debt repayment websites and resources.
2007-03-11 10:16:02 · answer #5 · answered by Anonymous · 0⤊ 1⤋
I think this is because they don't complete their studies and get a job. Being stable on a job or business cannot have finances ruined,and life.
2007-03-10 15:35:26 · answer #6 · answered by Daniel S 2 · 0⤊ 2⤋
I know of quite a few.
2007-03-11 13:29:53 · answer #7 · answered by . 5 · 0⤊ 0⤋