Student loans repayment

  • Meya
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Replied by Meya on topic Re: Student loans repayment

And so has the tuition :laugh: :laugh: :moneybag:
14 years 3 weeks ago #31
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Replied by hjm331 on topic Re: Student loans repayment

All - the deal when I was in college was to get the low interest student loan(s) and buy a car (needed transportation). It was a good deal?!!!


Boy, have times changed! :laugh:
14 years 3 weeks ago #32
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Replied by Wanderer on topic Re: Student loans repayment

All - the deal when I was in college was to get the low interest student loan(s) and buy a car (needed transportation). It was a good deal?!!!
14 years 3 weeks ago #33
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Replied by Meya on topic Re: Student loans repayment

:laugh: :laugh: :laugh: That is the absolute truth
14 years 3 weeks ago #34
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Replied by Joeyman on topic Re: Student loans repayment

I am glad to have put some insight to this matter. I think the crime is when we don't pay them back


I once had a high school teacher who claimed he would never stop going to school. Because the loans die with you... He also taught at a college.
14 years 3 weeks ago #35
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Replied by Meya on topic Re: Student loans repayment

I am glad to have put some insight to this matter. I think the crime is when we don't pay them back :laugh: :laugh: :laugh: :laugh:
14 years 3 weeks ago #36
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Replied by maureen on topic Re: Student loans repayment

Its not a crime! Actually each student loan is package differently. If some one is in school full time, independent, have dependents within their household who depends on more than 50% of your income, the Federal package that student with extra spending money for themselves and school related. Now, if someone was out there buying (IE) alcohol, drugs and unnecessary shopping sprees, then that is something different. I tell you what, it was a waste of their time because in the long run, it is going to cost the student more. With all the interest rate that occurs over the cost of borrowing, they will learn to think twice


i thought it was a crime...:laugh:
14 years 3 weeks ago #37
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Replied by maureen on topic Re: Student loans repayment

I would have to disagree. It depends on what you are using it for. If your receive financial aid, you do have an option to accept or reject offers that were packaged for you. Some students rely on cars to get them to and from school, using available student loan refunds is within your contract. Banks understand that school have some type of conflict with our daily lives, that is why they offer you a little more than what you borrow. If you choose not to use it, it is still not a crime. I was offered grants along with loans, and it really helped out while struggling with three children and working full time. I will not argue your opinion because everyone has a right to voice, but I just thought that I would add some insight to why people use their student loan refunds for other related issues.


Thanks for your insights Meya. I now understand. :cool:
14 years 3 weeks ago #38
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Replied by julienne on topic Re: Student loans repayment

Many students have made the mistake of charging their student loans on their credit cards which is a HUGE mistake because not only do you have to pay higher interest butyour score will drop dramatically due to high utilization. Student loans are not reported as revolving credit so they do not have any impact on your credit card utilization.


I'm kinda confused. :embarrassed: What's a revolving credit?
14 years 3 weeks ago #39
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Replied by julienne on topic Re: Student loans repayment

I would have to disagree. It depends on what you are using it for. If your receive financial aid, you do have an option to accept or reject offers that were packaged for you. Some students rely on cars to get them to and from school, using available student loan refunds is within your contract. Banks understand that school have some type of conflict with our daily lives, that is why they offer you a little more than what you borrow. If you choose not to use it, it is still not a crime. I was offered grants along with loans, and it really helped out while struggling with three children and working full time. I will not argue your opinion because everyone has a right to voice, but I just thought that I would add some insight to why people use their student loan refunds for other related issues.


Thanks for the enlightenment Meya. I'm starting to understand now coz I also had the same thoughts as Maureen. :innocent:
14 years 3 weeks ago #40
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Replied by julienne on topic Re: Student loans repayment

I might go back to school to become a Physicians Assistant... Currently, a Certified Nursing Assistant - working at a university hospital. The PA program would be 70k, but I think it's a better value than become a doctor. Doctors have 300-500k in loans and make 150k/year, with PA's they make 85k/year and only have the 70k loans.


Good luck! :cool:
14 years 3 weeks ago #41
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Replied by Joeyman on topic Re: Student loans repayment

I might go back to school to become a Physicians Assistant... Currently, a Certified Nursing Assistant - working at a university hospital. The PA program would be 70k, but I think it's a better value than become a doctor. Doctors have 300-500k in loans and make 150k/year, with PA's they make 85k/year and only have the 70k loans.
14 years 3 weeks ago #42
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Replied by Meya on topic Re: Student loans repayment

Yes there is going to be some added interest to student loans when you choose deferment plans. That's why it is better for us when we pay the incurring interest while in school and/or in a deferment status.
14 years 3 weeks ago #43
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Replied by belle on topic Re: Student loans repayment

I read a news article once that a practicing physician got way over her head because I think there were a few years that she deferred her payments. Later did she realize that her $200,000 student loan became a $500,000 loan. There's a lesson to be learned from this, paying student loans slowly but surely can really payoff in the end and save us some headaches and heartaches.
14 years 1 month ago #44
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Replied by Meya on topic Re: Student loans repayment

Why would somebody take out a student loan, then spend it on something else? I think that's irresponsible especially if it's not an emergency matter.

I would have to disagree. It depends on what you are using it for. If your receive financial aid, you do have an option to accept or reject offers that were packaged for you. Some students rely on cars to get them to and from school, using available student loan refunds is within your contract. Banks understand that school have some type of conflict with our daily lives, that is why they offer you a little more than what you borrow. If you choose not to use it, it is still not a crime. I was offered grants along with loans, and it really helped out while struggling with three children and working full time. I will not argue your opinion because everyone has a right to voice, but I just thought that I would add some insight to why people use their student loan refunds for other related issues.
14 years 1 month ago #45