The Dreaded Student Loan

[naturaljax]

who's got experience with these damn things? I'm thinking I'm going to have to get one for next year, without a co-signer (parents are being oh-so supportive :| ) and I'm worried about it all. No idea what rates are good, what rates are bad, or anything like that.

So, Sufu, how deep in debt is your education getting you?

[soraanaam]

during my junior year in college i just quit, fuck school cant waste your life in school, i now own soraanaam meth labs

BOOYAH

[naturaljax]

sounds lucrative

[Ichigo100%]

naturaljax,

i live in canada so im using osap... Im paying the government back close to 12,000 for college..

what i do is pay them monthly...they usually send u a consolidation stating what you have to pay monthly, yearly..however u wanna pay..

its not hard at all, it actually teaches u how to budget your salary because now you cant do as much spending and you need to have a certain amount on you for every month..its real good training

[polishmike]

It's not that bad, get a cosigner and then you just get the bill to your house after you graduate. When you get a job school loans are not that hard to pay off.

[naturaljax]

naturaljax,

i live in canada so im using osap... Im paying the government back close to 12,000 for college..

what i do is pay them monthly...they usually send u a consolidation stating what you have to pay monthly, yearly..however u wanna pay..

its not hard at all, it actually teaches u how to budget your salary because now you cant do as much spending and you need to have a certain amount on you for every month..its real good training

hmm, good point! I could use some help budgeting my finances so this may very well be good training for me.

It's not that bad, get a cosigner and then you just get the bill to your house after you graduate. When you get a job school loans are not that hard to pay off.

Unfortunately I might not be able to get a co-signer unless one of my other relatives decides to do it for me but I honestly can't think how I could even bring that up in converstaion haha. I know I can get it deferred until graduation though, so that's always good. But I might be pretty damn in debt

[Tyro1]

insteasd of a loan, just never come to sufu again... you will have more spare cash that way

[naturaljax]

honestly, truer words were never spoken

[Ichigo100%]

honestly jax, ive saved myself 300 dollars man...That just goes to show how well tuition can help to budget your finances..

I pay the monthly fee, then whatever other money ive got left, i put it into investments and just keep enough on me to last for a couple weeks (leisure, food)..until i get paid again

Youll be in debt for a long time, but the benefits of paying tuition is that at the end of it, you'll feel proud of yourself, not only that but invest bits of money here and there and you'll have much more for yourself in the future.

[englandmj7]

It's not that bad, get a cosigner and then you just get the bill to your house after you graduate. When you get a job school loans are not that hard to pay off.

This really depends on where you went to school and how many years you went for.

My best friend pays over $1200 a month to repay his loans. Not easy at all when you are making $40K a year and living in an expensive city.

[airportlobbytx]

Go see a student loan officer at your school There are a lot of options, and a lot to know. Try to get federally subsidized loans - they have lower interest rates and interest does not begin to add until you graduate.

Make sure you take a look at a repayment schedule before blindly taking out loans. Don't get into anything that scares you. If you are on a career path, you may not worry too much. If you don't know what you're doing, it may be better to withdraw and work full time and save some money before getting deep into debt for a degree that won't help you do anything you actually want to do.

[airportlobbytx]

This really depends on where you went to school and how many years you went for.

My best friend pays over $1200 a month to repay his loans. Not easy at all when you are making $40K a year and living in an expensive city.

This is true. I don't understand the people poo pooing student loans. They can add up incredibly fast and seriously limit your post-graduation options. Get some good advice from pros.

[nairb49]

what are you going into? undergrad?

I'm looking into some loans myself, and for incoming medical students (at least in Canada) we're offered a 150K line of credit at prime, or sometimes prime + 0.5%, which is pretty good.

Like ichigo said though, if you're in Canada(well, specifically Ontario), OSAP is the way to go if you can manage on just that alone.

[sohoADDICT]

im gonna have 2 get loans too... my college gave me shitty financial aid

[naturaljax]

I'm not on any specific career path, but I'm looking to go into International Business and Economics with Japan and America. Also, I'm going to do my best to get scholarships, so HOPEFULLY I won't be incurring that much debt. But there's no way I'm going to walk into this blindly.

[blm14]

Speaking from someone who worked in admissions for close to 4 years (albiet at the grad school level), don't count on scholarships/fellowships. Even if you get full tuition, most scholarships don't cover housing, food, books, cost of living, etc so you still will probably have to take loans.

For many schools, need-based aid and government loans are only available to US citizens or green-card holders.

Are you talking about undergrad or grad school, and in the US or elsewhere? Are you a US citizen? Feel free to PM me...

[sybaritical]

I took three loans and instead of jazzing them out on shoes drugs and plane tickets like everyone else stuck them in a high interest account. Came out ahead. Then I bought shoes, drugs and plane tickets.

[Guest Airjamie]

I took three loans and instead of jazzing them out on shoes drugs and plane tickets like everyone else stuck them in a high interest account. Came out ahead. Then I bought shoes, drugs and plane tickets.

This is a good plan. You greedy asian jews are wise beyond your years of raping our pure white aryan women and secretly seeking to supplant our superior white race.

[blm14]

I took three loans and instead of jazzing them out on shoes drugs and plane tickets like everyone else stuck them in a high interest account. Came out ahead. Then I bought shoes, drugs and plane tickets.

The only problem with that is that it's risky to borrow more money than you strictly need. You're betting that the interest rate on your CD or whatever (currently 5-6%) is going to beat out the interest you'll have to pay on your student loans (currently 6.8% on federally sub and probably higher on private). Depending on the type of loan, you may be charged interest immediately, and not just upon graduation.

I'm also guessing that you consolodated when the interest rates were obscenely low and locked in something like a 2% interest rate on the student loans...

[RAISED BY WOLVES]

This really depends on where you went to school and how many years you went for.

My best friend pays over $1200 a month to repay his loans. Not easy at all when you are making $40K a year and living in an expensive city.

Man...

Tell that fool to stop whining about his high premiums...everyone I know pays less than $120 a month on insurance.

Lazy fuck needs to get a job and move to a cheaper city for chrissakes...

[Chicken]

i still owe some money to sallie mae.

meh.

[blm14]

i still owe some money to sallie mae.

meh.

we all do. sallie mae is like the modern-day rumplestiltskin.

[sybaritical]

This is a good plan. You greedy asian jews are wise beyond your years of raping our pure white aryan women and secretly seeking to supplant our superior white race.

HMnn.

whereas you'll be glad to know I'll easily pass as a member of the superior white race given my aryan heritage and the resulting skin pigmenation and hair colour, my last girlfriend was black and the one before her was asian, So do I still work out or what?

:confused:

[englandmj7]

Man...

Tell that fool to stop whining about his high premiums...everyone I know pays less than $120 a month on insurance.

Lazy fuck needs to get a job and move to a cheaper city for chrissakes...

Oh RBW. You sly dog.

He doesn't whine my friend. I simply said it is "not easy at all", I did not say that he isn't glad to do it. I think he is pretty damn happy that we have a government that enables virtually anyone to get a college education. He also like screeching bald eagles and rodeos.

[Kasper]

paying for funs you had years ago really sucks, believe me. while i don't regret it at all, i spent 1 years and half of my uni years on exchange and choose pretty much the 2 most expensives countries in the world to go so i racked up a little debt. it sucks to pay now. if possible, you should really try to get revolving credit instead of a regular loan since with a regular loan, they'll give you ALL the money so it's much easier to just spend it away. with credit, you think about it every time you withdraw so you are a little more responsible with it (well, most ppl are, not me though..). and do some long term budgeting to see if the amount of loan you would be taking is reasonnable. you don't want to pay a grand a month or take 15 years so pay back your loans so be carefull. and good luck with the schorlarship

[Guest Airjamie]

HMnn.

whereas you'll be glad to know I'll easily pass as a member of the superior white race given my aryan heritage and the resulting skin pigmenation and hair colour, my last girlfriend was black and the one before her was asian, So do I still work out or what?

:confused:

No, you are a race-traitor and will be put in a camp next to the pygmies and the mentally handicapped during rahowa.

[sybaritical]

I can do pygmies as long as they're black or asian.

Mentally handicapped is a challenge but I'm up for it.

[Guest Airjamie]

I can do pygmies as long as they're black or asian.

Mentally handicapped is a challenge but I'm up for it.

Im talkin the tards with like boogers allover their mouths and shit cuz noone is around to wipe them off.it wont be pleasant