Archive for September, 2010
I am just about to earn my bachelor’s degree, and I have almost $100,000 in student loan debt. I took out student loans to pay for living expenses in addition to school. Now, I’m getting ready to enter graduate school, where I will undoubtedly incur even more debt…probably another 100K since it will be anywhere from 4-6 years and I will be paying out of state tuition.
By the time I’m done, I’ll have around 200k of student loan debt….and I am seriously stressing. I’m going to get my PsyD in clinical psychology, so if I can find a decent job after school I might be okay….but I looked at a loan calculator online and it said that my monthly payments are going to be around $1600/mo. with that much debt…and that’s with a 30 year repayment plan!!
The national average for the salary for a clinical psychologist is about $75,000, and I will most likely be paid less than that just starting out. I figure if I can get a job that pays $50,000/year I will only be taking in about $3200/mo after taxes and health insurance….and the monthly payment for the student loans is HALF of that! I don’t see how I am going to be able to make it….
I really want to get this education so that I can be successful and have a satisfying career, but this is insane! I am a broke college student working in a call center, so I barely have enough money to pay my rent and bills, let alone save for college. Loans are the only way I can pay for school
What can I do???
How would you suggest I be more realistic?
How would you suggest I be more realistic?
Virgilio Cossey
I went through a bad divorce that screwed up my credit. I have made all of the payments on the loan but its making me get behind on other bills. I make good money but cant afford to keep paying $330 every two weeks on the interest payments which dont make the loan any smaller.
Delmer Leger
I don’t understand it. Can’t they just print money to get us out of the trillions of dollars that the U.S owes?
Queenie Manlove
Consider all the debt you owe now and than answer would you or would’nt you not commit a crime to get out of debt ,why or why not.
Julietta Carbal
I feel like a hamster in a wheel. A great deal of the credit problems would be solved if I could qualify for a cash out mortgage refinance. Please point me in the right direction – any advice is appreciated.
Lisa
I have a Debt Collector trying to get money out of me saying its from my bank, but when I called my bank asking about a debt that I might owe, my bank says that my account is fine and that it never went to collections. But the debt collectors has all of my information. SSI, Address, Phone… Etc.
What should I do?
Federico Wunderlin
I always see Cons going on about cutting spending to lower debt, but wouldn’t you get out of debt faster if you also raised taxes? It would take a few decades of cut-backs for all parts of the government (yes, even the military) and a slightly higher tax rate, but ultimately it would be worth it. And yes, I pay taxes.
Jerrod Quitugua
I have a business idea, base on biblical principles. We apply these principles to Networking. We are looking for Christians that are sick and tired of being sick and tired. They want to get out of debt. So we are forming a group of like minded Christians to achieve the goal of being debt free.
Virginia Kokoska
How can I get out of debt quickly? I want to consolidate my payday loans and pay them off, but the only way to do that is if I can get a lump sum loan. Who offers lump sum loans to people with bad credit
Pasquale Quesnel
I dont have any friends or family to talk to about my situation. I moved away from home to go to college in another state. My whole life I’ve been pretty sheltered, so I dont have a lot of life skills to know how to live on my on. I ended up moving out of my dorm at the end of the school year to live with my boyfriend. (Dumb I know, you dont have to tell me). And school got way too expensive to go back. I still have stafford loans that I’m struggling to pay off, and a credit card debt. Anyway…the situation is, I have a part time job that has pretty good benefits but pretty bad pay. I basically get $150 a week if that. My boyfriend just lost his job and we have to live with his friend right now until we can get back on our feet. We have a piece of crap car that barely runs and doesnt have air conditioning. It just seems like we cant get a break. We’ve tried working and saving up money so much so that we can get our own place and work towards a better life. But the thing is I really dont know how to do anything that would help me right now…I dont know how to fix my debt (or rather, I dont have the means to), I dont know how to fix my car, I dont know how to set up a doctor’s appt, I dont know how to live frugally, I dont know how to set up a budget, I dont know how to plan for the future, I dont know how to really save money well, and I dont know how to not get stressed out by all of this. I also dont have any family to help me out at all. So what actions should I take in a situation like this? I really want to get out and start living a better life, but it just seems like something always gets in our way
I feel like I’ve completely wasted the last two years of my life and I just dont know how to make it any better. I just want to live a happy life. Sorry to spill a life story here, but I didnt knw where else to go for advice. Any advice at all would be VERY much appreciated. Thank you so much..Jennifer Higa