How much do you owe in student loans?

Discussion in 'General Distance Learning Discussions' started by thomas_jefferson, Sep 24, 2010.

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What's your current student loan debt?

  1. I have no debt.

    32 vote(s)
    55.2%
  2. Less than $10,000

    8 vote(s)
    13.8%
  3. $10,000-$20,000

    6 vote(s)
    10.3%
  4. $20,000-$30,000

    5 vote(s)
    8.6%
  5. $30,000-$40,000

    3 vote(s)
    5.2%
  6. $40,000-$50,000

    4 vote(s)
    6.9%
  7. $50,000-$75,000

    0 vote(s)
    0.0%
  8. $75,000-$100,000

    0 vote(s)
    0.0%
  9. More than $100,000

    0 vote(s)
    0.0%
  10. I've never been a student in higher education.

    0 vote(s)
    0.0%
  1. cravenco's thread made me think of this question... how much do you owe on student loans? What is a reasonable debt to expected future income ratio?
     
  2. eilla05

    eilla05 New Member

    Once I am done with my BA I will have about 20k in debt. Who knows what I am going to add for my masters but I am hoping to keep it to under 30k and I plan to start paying down my BA loans while working on my Masters so that hopefully the amount I will owe will be lower once I finish my masters.
     
  3. PatsGirl1

    PatsGirl1 New Member

    I owe about $6k currently. I will owe about $20k total (give or take) when I finish my MBA. My MA will be OOP. I plan on doubling up payments and paying the loans off in <5 yrs.
     
  4. perrymk

    perrymk Member

    I spent three years in the army (83-86) and managed to save a little. The ACF and VEAP (Army College Fund and Veteran's Educational Assistance Program), along with an occasional part-time job, savings, and a little help from dad, paid for my undergrad.

    I had a teaching assistantship for grad school. This meant free tuition plus a small stipend, enough to live on.
     
  5. 03310151

    03310151 New Member

    0.00 debt from college. Thanks to you taxpayers :)

    GI Bill and military tuition assistance actually goes a long way if you know how to use it.

    Final tally:

    A.A.
    A.A.S
    B.A.
    B.A.
    M.B.A.
     
  6. Maniac Craniac

    Maniac Craniac Moderator Staff Member

    Ok, well, at least pay for ONE of mine, then!
     
  7. AV8R

    AV8R Active Member

    I graduated debt free each time. I sought out inexpensive programs that I could pay for as I went.

    I've never had a car loan in my life either. If I don't have money in the bank for it, I don't buy it......just as simple as that. Because of this I don't drive anything fancy.....but neither do I have to worry about making a car payment.

    Living debt free is the most liberating feeling in the world.
     
  8. SurfDoctor

    SurfDoctor Moderator Staff Member

    I am delighted to see that so many of our DI members are wise with the application of school loans. The majority, like me, are doing it without going into debt.
     
  9. Go_Fishy

    Go_Fishy New Member

    Zilch. [​IMG]
     
  10. Ruble

    Ruble New Member

    Nada. Should bank about 12k during my Ed.D. /cheer for the GI. Bill.
     
  11. Anthony Pina

    Anthony Pina Active Member

    By the time I finished my doctorate, it was about $35K total (I went to a combination of public and private schools). A good percentage of that was to pay for health insurance coverage for a growing family. The difference in what I make pre- and post-doctorate more than makes up for my former student loan debt.
     
  12. gopens

    gopens New Member

    This is a good topic. Lets say the ONLY way that you could work on a degree is through FA and student loans--is it worth getting the degree.

    I am starting school in a couple months and the only way for me to go to school is through student loans. My current income only pays for me to live check to check. This is why I hope and education will provide me with a better job.
     
  13. NorCal

    NorCal Active Member

    Me and you may need to talk. I am using Chapter 33 at 40% and thats not amounting to much on account I'm under the Selective Reserve GI Gill. Currently, I have zero student debt; however, when I transfer in January I will rack up $5,600 per semester for two semesters. :(
     
  14. AUTiger00

    AUTiger00 New Member

    Go to the best school/program you are admitted to that you can reasonable afford. You can attend a good state school (in your home state or in a program that grants students studying via distance in-state tuition) for a relatively small amount of money. If you're just starting out with no credits I would advise testing out of subjects and/or going to community college. This should limit your debt.

    Where are you considering going? What do you plan on studying?
     
  15. gopens

    gopens New Member

    I have about 20 credits from my local CC. I am going to go to TESC and work on accounting
     
  16. djacks24

    djacks24 New Member

    This is what I did. Saved a ton of money earning my degree. The program I transferred into I was able to transfer 94 credits after taking selected prereqs. It was kind of a pain because most classes were on campus, but it was worth it.
     
  17. CRS0410

    CRS0410 New Member

    Student loans

    I am attending a school where you make payments, interest free. I pay $150 a month and my total cost for my MA in Marriage & Family therapy will be $15,000.
    I will have to take out a loan closer to gradutation time in order to have my degree and transcripts and take the state exam for licensing.

    I paid off my student loans for my BS with my GI bill and just payments attending lower cost, online school, when I returned to finish school and my GI Bill benefits expired.
     
  18. djacks24

    djacks24 New Member

    Good recent local article relevant to this topic.
     
  19. st22345

    st22345 Member

    I was able to get my employer to reimburse me for most of my expenses on all three degrees, so I didn't have to take any loans.
     
  20. cravenco

    cravenco New Member

    Schools, online or not, that offer payment plans such as the one you described above is a good way of not getting in debt. I think most schools today offer such options, even with doctoral degrees.
     

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