fandomsecrets | [ SECRET POST #2209 ]

[ SECRET POST #2209 ]

⌈ Secret Post #2208 ⌋

Warning: Some secrets are NOT worksafe and may contain SPOILERS.

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Notes:

Secrets Left to Post: 06 pages, 121 secrets from Secret Submission Post #316.
Secrets Not Posted: [ 0 - broken links ], [ 1 - not!secrets ], [ 0 - not!fandom ], [ 1 - too big ], [ 0 - repeat ].
Current Secret Submissions Post: here.
Suggestions, comments, and concerns should go here.

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For people who owe student loans, how much do you owe? I have like 25k as of now shit sucks man.

I do not envy you. I actually got an inheritance from my aunt who died Christmas 1999, but I wasn't to get it until I turned 30. So for 13 years my dad was the caretaker of that money -- real bright idea -- and when I finally did turn 30, well...

I have to pay off my own student loans rather than use my inheritance. Thanks dad.

You're not the only one to have an inheritance pissed away by an incompetent caretaker. We can be mad together.

Geez, that seems like so much bullshit. Is it even legal to spend money that technically belongs to someone else? And if it is, WHY?

mte...isn't there some legal course of action you can take?

But either way, ugh, that kind of thing just pisses me right the fuck off.

Also honestly wondering why people do things like put ages at which adults can recieve inheritances. What's the point? Did she really not forsee that that might be a problem?

A lot. Thinking about it sends me into a serious panic attack. Suicidal world ending panic attack. So I don't think about it. But let's just say it's a lot more than your number and growing every day (overdue fines).

That sucks, anon, and it's a bullshit situation to be in, and it legitimately makes me angry about the world and the state of the country. We need a fucking change.

same here :\

I'll owe 21k by the end of my time at uni. Don't have any jobs lined up either.

Way, way too much. I'm thankful that I don't really want much in life, because the only things I'll be able to afford for a long time are going to be basic necessities.

But yeah, thinking about my debt is like staring into the abyss. And since I can't even really get a job in my field without a Master's degree, I'm left wondering what the fuck it was all for.

At this moment I owe $10,348.73, and the thought of being sooo close to finally owing less than 10 grand is actually a really good feeling. I've paid almost $27,000 back over the last 7 years. This was for both a bachelors and a 60 hr masters.

I had no idea what I was getting myself into, as I was a first generation college student. The dollars started adding up so quickly though. I worked part-time in undergrad to start paying down my loans, and then worked full-time in grad school, continuing to pay down the loans while renewing my in-school deferment each semester I had enough classes to do so.

On top of the loan money, I also paid over $16,000 directly out of pocket to go to school plus another $4,000 for books (most of which I later sold back to Amazon for roughly $1,500).

Some advice would be to check your loan terms if you're still in school, see if there's any kind of penalty for prepayment on your loans. If there's not, start sliding as much money that way as you can spare. Even a little bit'll help knock out some of the debt, and your required monthly payment at gradution will be less. If you're currently repaying, again check with you lender to see what kinds of options you have. Most start you on a standard repayment plan but also have income-based or gradiated plans available that will start you out with smaller payments initially. Also, consolidation might be an option. When I consolidated, I lowered my payment amount by about $100 a month.

over $80k but I am way waaaaaay behind-- my loans are in default-- so honestly I have no idea. I'm sort of living paycheck-to-paycheck just barely making rent and paying medical bills so honestly I'm sort of what-the-fuck-ever about them. Idk what I'm gonna do.

I owed about $8K, and I finished paying them off a couple of months ago. I worked part time all the way through my undergrad and full time throughout my masters', though, and got a shitton of scholarships. If not for those I'd be just as debt-riddled as the rest of my college-bound friends.

Hm, reading this thread, I wonder if some of you wouldn't benefit from declaring bankruptcy? I know there's a waiting period, but in Canada it was reduced from ten to seven years (five in cases of exceptional or medical-related hardships). Sure, it's a drastic decision, but if there's no possible way you could ever pay the amount you owe back, it might be something to think about.

It's basically impossible to do this in the US.

I don't know where anon lives, but in the US, I think student loans are, like, the one thing you can't declare bankruptcy for.

This is true. My brother recently filed for debts he incurred when he was a stupid 19-year-old Marine who thought his body would never give out and lol Uncle Sam's paying for my bigass house and flashy car and high maintenance bitches, yeaah! -- and anyway, the student loans were the one thing that bankruptcy couldn't wipe clean. :/

o________o

How is that even legal? Seriously, what if you can't pay it back - what are you supposed to do, fake your own death?

I don't know! When I hear how much debt some people are graduating with these days, it makes me very worried. You can't expect the economy to do well if it's full of individuals suffering personal financial disaster. Obviously, I think the priority should be to look for ways to prevent young people from racking up so much student debt in the first place, but that doesn't help those who have already accumulated it and may just be a hair's breadth from defaulting.

Re: Students loans

(Anonymous) - 2013-01-20 07:33 (UTC) - Expand

Re: Students loans

(Anonymous) - 2013-01-20 18:23 (UTC) - Expand

I just checked and it's $5075. I had no idea it had gotten that low already.

I graduated in 2002, so I've been chipping away at this for years. Not a full decade, mind you, since I went to graduate school for several years and deferred during that time (but fortunately accrue any additional debt by doing it).

I'm a little wary of simply paying it off right now because finally, for the first time in my life, I've managed to accumulate a decent financial cushion and I'm loathe to dip into that. (I'm also supposed to be saving for a down-payment on a house, in theory, but it looks like the house-buying plan isn't going to work out for at least a year for other reasons.) I think, however, I will take the plunge and do it once it officially gets below five grand after the next payment.

DOOOO ITTTTTT nothing beats being debt-free; I don't have student loans, but am still paying down my HELOC (that I ran up a few more times than I should have), and that last 5K+ is driving me up the wall because It. Just. Won't. Budge. (Or so it seems --- it's a PPAD, so it IS getting chipped away at. Just not fast enough for me,) If I had 5K right now, that's the first place it would go, TBH. I'd pay it down, and try and get a house on a line of credit -- a mortgage is the absolute worst thing you can do to yourself, and all those realtors and relatives trying to convince you it's for the best are INSANE. Or brainwashed by society. A mortgage is the absolute worst thing you can do to your life because YOU WILL BECOME ITS SLAVE. Long after you lose your love for whatever house has gotten that far in debt in the first place.

I lasted eighteen months, paying a mortgage, before I jumped ship. Worst eighteen months I ever spent in my entire life. Never again. Never. Again. NEVER AGAIN.

TL;DR: Nonny says pay your debt down first before all else, my fellow anon!

Personally, I'd rather get a mortgage on a house rather than paying rent because at least there's a chance to retrieve the money you've paid down if you sold the house. Mind you, that's IF you live in a place that has a relatively stable property market and isn't prone to natural disasters.

It's a lot of responsibility though, and you have to be sure you have enough income to support yourself AND pay down that mortgage. If you don't have that stability then you're probably better off renting.

Re: You're going to hate me, but...

(Anonymous) - 2013-01-20 02:44 (UTC) - Expand

Actually, seeing the people in this thread who are close to paying it off is really encouraging to me. It's nice to know that it's possible. Makes me excited for the future.

Congrats on being so close!

Thanks! I'm getting excited now about doing away with the loan completely. It's been with me so long!

About 20k or so. Paying 250/month takes forever ;(

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