[seeemilywrite]

How many of you have college debt still? If you don't and did, How long did it take you to pay off your loans?

[workingdad]

Originally Posted by seeemilywrite

How many of you have college debt still? If you don't and did, How long did it take you to pay off your loans?

I got lucky. I began saving money for it while still writing my dissertation (you don't have to start paying as long as you are metriculated) and teaching part-time at a ton of places, and put it in a particular bank that my father-in-law said looked liked a good prospect to go public. He was right. We got an IPO for the bank and were able to buy a lot of shares at the IPO. I kept saving, but when the time came to pay it off, I sold most of the shares at a very good profit and used it to pay back the loan. I should also note that my debt was small, since it was the early nineties and consisted of only two years at a private university and some undergrad loans at a not too expensive, partly-state-funded, university. College costs have skyrocketed and I would not know how to do it if I had to today. And I don't know what my children will do, unless they decide to go where I work.

[TheFamilyCEO]

We were very lucky in that my parents paid for my college and my husband's parents (he's one of nine) loaned him the money to go interest-free. He's the 7th of 9 so his parents had the ability to do that, where they didn't with his older siblings. Also, he received some government grants based on the size of his family.

[twinzplus3]

We were not lucky. . .my husband and I met in college. . .a private school and while I got good low interest loans he did not. So when we got married our combined debt was approximatley 90,000! No that's not a typo! We have lived as frugally as possible in New York City with 5 kids and 10 years later. . .we're almost out of debt! We have about 15,000 left to go!
I should mention that we both worked in non-profit Christian ministries until we had kids, then I went to part time until we had too many kids to do that and now I stay at home!

[mamaip]

I've got $42,000 that I've been deferring for 6 years...used to be $32,000.....I need to win the lottery.

[blossy]

I guess I was one of the truly lucky ones and I got my tertiary education for free. All I needed to pay for was the Student Union fees and for all my text books & stationery.

[MJ7]

Great thread. Well, the thought of more debt than we have made me so nausious, my dh agreed we'd not go into debt over his school. Bless his heart, he worked to pay for his classes as he went--even if that meant he could only take 1 class sometimes (he worked full time--still does). So, after 13 year, God bless him, he got his AS. He's already into his BS (sorry, have to have an immature chuckle writing that ). The nice thing though, the past 6 years he's been at the same company, they have tuition reimbursement. Now money isn't so much the issue, but time. He was fortunate enough to get into his career with out his degree.
Both my brothers had private college educations. My parents have a Parent Plus loan that basically covers one brother's interest, plus they helped him out financially in other wasy. They paid for 1/2 of my other brother's college and he lived in a dorm.
Me, I didn't get a degree, but I did complete a vocational course. Still don't know what I want to be when I grow up. Just always wanted to be a mom with a dh who valued supporting his family.

[asally]

i just married into my partner's debt, and i mean "just" as in i don't know the figure and i'm afraid to ask what it is! i never had school loans or any other debt and have always been good with my money, though i don't have much savings, but at least i'm not in the hole!.. well, i guess i am now that i got married. hm, well i guess i'll find out and then come back and tell you my panic!

[twinzplus3]

Originally Posted by MJ7

He was fortunate enough to get into his career with out his degree

Actually most people can get into their field or somewhere related without a degree or at least without a degree in the right feild. I forgot the exact number but a staggeringly high percentage of college graduates don't end up doing "anything" with their college degrees (I mean in the related field).
The things I wish I'd known before going to college.

[niftyneon99]

I paid off my student loans 3 years after I was out of school, and my dh had his paid off 2 years after he was out.

My 2 years at school cost less than his 1 semester at IBC! and he dropped out, and I have an AS