Student Loans!

Discussion in 'General Education' started by YoungTeacherGuy, Aug 5, 2012.

  1. YoungTeacherGuy

    YoungTeacherGuy Phenom

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    I'm paying back a $15,000 student loan for my undergrad degree (my parents helped me with some of my tuition and books) and I'm going to begin paying back a $18,000 loan for my master's degree.

    Anyone else have student loans to pay back? :(
     
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  3. Peregrin5

    Peregrin5 Maven

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    Yes. I have around $13,000 in loans for my credential. I have some saved up to pay back some of it, and I'm hoping to get some APLE action to help pay off the rest, but they've been pretty silent on this issue for the past year.

    Edit: YIKES. Apparently our governor has eliminated all APLE programs for teachers in his new budget act. Thanks Governor Brown.

    Have to find a new way to pay off this loan.
     
  4. giraffe326

    giraffe326 Virtuoso

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    I think I will be paid in full in 2027. I graduated with my B.S. in 2006. :tired: I have to start my master's by next year. I shudder.

    I wish I had parents that could have helped, even a little. I ended up using charge cards to pay for my spring semesters, so I graduated with quite a bit of credit card debt, too.
     
  5. MsG

    MsG Companion

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    I have $35,000. :|

    I just consolidated...again...and enrolled in the Public Service Loan Forgiveness Program. Basically, I'll have to pay 120 consecutive payments and then the rest of the loans will be forgiven. Check into it if you haven't already! It's for teachers, police officers, firefighters, all public service workers!
     
  6. AlwaysAttend

    AlwaysAttend Fanatic

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    Paid for Community College then got my B.A. for free thanks to a transfer scholarship. Anyone with an A.A./A.S. and a 3.8 GPA qualified.
     
  7. BumbleB

    BumbleB Habitué

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    I have been too scared to add it all up and see how much it is. It has to be over $30,000 though. If I didn't have student loans to pay off, I would be LIVING THE LIFE on a teacher's salary! :lol:
     
  8. giraffe326

    giraffe326 Virtuoso

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    But they only count from October 2017. However, it will cut 10 years off of my loans. So, yay me. I can get rid of them in 2017 instead of 2027!
     
  9. giraffe326

    giraffe326 Virtuoso

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    Oh, and sadly, I COMMUTED to college. I didn't have loans for dorms and stuff. I can only shudder thinking about how much I would owe had I stayed on campus!!
     
  10. MsG

    MsG Companion

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    Yeah, and no payments count until you enroll in the program. I've made 3 whole payments. Only 117 to go!
     
  11. jwteacher

    jwteacher Cohort

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    I still have $14,000 left from my Bachelor's and Master's degrees. Don't feel too bad!
     
  12. iteachbx

    iteachbx Enthusiast

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    I have some to pay back from my undergrad degree, but my program was a 5 year program for a BS & MS so I ended up taking a lot of my master's classes as an undergrad when my parents were paying for most of it. I still paid the same tuition whether I was taking undergrad or grad classes. After I graduated with my BS I only had 3 classes to take for my master's. My mom just paid for the classes and then I paid her back after I got a job so I wouldn't have to pay an interest. When I get my Teacher's of Tomorrow money I'm going to put all of it towards my loan. I hope to have it paid off in the next couple of years.
     
  13. giraffe326

    giraffe326 Virtuoso

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    Oh, then never mind. That is stupid! It's not like they can't find my payment history. :mad:
     
  14. teacherintexas

    teacherintexas Maven

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    I worked three jobs and went to school full time. I lived like a pauper during college, but I made it out without any loans.
     
  15. QE1

    QE1 Rookie

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    You don't have to enroll in the program. You just pay your loan under one of the qualifying plans and then submit the application form and the verification form.

    http://studentaid.ed.gov/sites/default/files/public-service-employment-certification-form.pdf

    This is the form to keep track of your employment history for the 10 year loan forgiveness program. You just have every district/school you work for fill out and then keep copies so you can turn it in at the end of the ten years.


    I've got about 60,000 in federal and about the same in private, from two BA/MA's
     
  16. lbradley1718

    lbradley1718 Comrade

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    $43,000.

    $21,000 from my bachelors degree and $22,000 from my masters.
     
  17. giraffe326

    giraffe326 Virtuoso

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    That's how I read it. Thanks!
     
  18. Ima Teacher

    Ima Teacher Maven

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    I was lucky that I didn't have to take out any loans.

    My parents saved money in a college fund, but then I was able to get a scholarship from Dad's company. What it didn't cover, my parents did.

    I paid for my masters myself.
     
  19. MATgrad

    MATgrad Groupie

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    For my bachelor's degree~nothing.

    For my master's I currently owe $15K which as soon as I get my car paid will be the next thing I'll be socking money towards.
     
  20. MrsHoot

    MrsHoot Comrade

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    Wish i had parents who could have helped too! My husband and I pay a mortgage payment's worth of student loans every month. It limits what we are able to save every month. :(

    Can you qualify for the 120 payments if you have consolidated your loans??
     
  21. funkadelicfunk

    funkadelicfunk Rookie

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    i have about $30,000 in loans. This will be my first year teaching, but isn't there a program that offers loan forgiveness after teaching for 5 years?
     
  22. jwteacher

    jwteacher Cohort

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  23. MissScrimmage

    MissScrimmage Aficionado

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    I paid the last of mine off in February. I then called the Student Loan office to thank them for funding my education. I figure they don't get very many nice phone calls over there!
     
  24. MathTeacher29

    MathTeacher29 Rookie

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    I did the teacher loan forgiveness. I didn't have to pay on the loan for the five years and then I did the paperwork to have them forgiven. It was real easy.
     
  25. MsTeckel

    MsTeckel Comrade

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    From what I read...If you consolidate your loans with a place like Sallie Mae, it not longer qualifies for any student loan forgiveness. They have to be federal loans...and if you consolidate them...they become loans with Sallie Mae...

    I have a lot of students loans...like 100k...I have an as, bs, and ms...I really should be a doctor by now...but I was real stupid with my schooling and loans.

    I get a glimmer of hope with the teacher forgiveness and the new program that Obama put in place...but the more I read, the more I dont think Im eligible due to the consolidation.
     
  26. applecore

    applecore Devotee

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    $27, 000 BS and MTA included.

    2 more years of service to apply for the Loan Forgiveness Program.

    2 more years until I get my car paid off.

    2 more years and I'll get a "raise".....ha ha hahhaaaa
     
  27. giraffe326

    giraffe326 Virtuoso

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    The 'forgiveness' is only up to 5K unless you teach math/science/sped ONLY. But, 5K takes a few years off the loans at least!
     
  28. hatima

    hatima Devotee

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    I have 11,000 for undergrad (which is in deferment until next year). I'm in grad school and took out the max. In August of next year my combined monthly payment will probably be in the neighborhood of $500 or so.
     
  29. ecteach

    ecteach Devotee

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    Would this be the wrong time to tell everyone that I received a $100,000 undergraduate education for free, because my mom worked at the college? I have yet to get my Master's. I can't afford it. Just to make everyone feel better, I do have about $15,000 in CC Debt. I acquired most of this through medical bills when I was very ill a few years ago. (Ended up being diagnosed with Colitis, and feel fine with meds now.) So, it's not like I was out shopping until I dropped or anything.

    I don't think I know a teacher around who doesn't have debt.
     
  30. hatima

    hatima Devotee

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    LOL! I do not find any fault with you for that, it is just "lucky yoy!" :D
    I received chapter 35 benefits up to my last year of undergrad. I got paid to go to school and not work. It was nice.
     
  31. TerriInCa

    TerriInCa Companion

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    I have about $17,000 is student loans for my MA. I started paying it off almost a year ago. I will have to look into some of those forgiveness programs.
     
  32. lucybelle

    lucybelle Connoisseur

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    This sounds like me!

    I went to a cheap, in-state public school, applied for every scholarship I even remotely qualified for, was on my university swim team, worked, and ate peanut butter or cans of black beans (not together!:lol:) for breakfast/lunch/dinner every day of the week. Even with 1 year studying abroad I graduated with only $4000 of loans. Paid them all back within one year of graduating.

    That's the thing I am most proud of in my life so far. That and getting a B in Organic Chemistry 2;)
     
  33. Jlyn07

    Jlyn07 Comrade

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    Me too! I have a little more than 100K and wish I was smarter about loans. More than half of mine are private which have no forgiveness or anything : (

    I'm on the reduced payment plan for my federal loans and can have those forgiven in 8 1/2 years. I will be paying the private ones until I die most likely.
     
  34. MsTeckel

    MsTeckel Comrade

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    Mine are mostly private as well!
     

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