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Student loans

Anyone ever get one? Did you even spend the money on school?

I'm thinking about getting one so I have money in bulk that I can fuck around with right now, and save up slowly with my job that I have for when I have to pay it back (which is after you graduate so that gives me plenty of time).

Does the loaner watch what you spend the money on?

Anyone have stories?

Right now is not the time for you to live frivolously so you should throw out the whole notion of attaining simply for f*cking about.

Once you'll be at the point where you have to pay it back you'll probably have to start paying for more bills, loans ( school) etc and could find yourself in a binder down the road.
Try to avoid spending money which you don't have.


/thread

Re: Student loans

quote:

Originally posted by IpLaYWiTLiGhTs Anyone ever get one?

Yes.

quote:

Did you even spend the money on school?

Yes.

quote:

I'm thinking about getting one so I have money in bulk that I can fuck around with right now

If you don't need the money, don't take the loan. You realize interest compounds on these loans? Fortunately I only have ~11k but (if I only make minimum payments) it would end up being near $15k by the end of the term. You'd essentially be throwing away money just to have fun with it.

quote:

Does the loaner watch what you spend the money on?

No.

Dumbest idea ever.

quote:

Originally posted by jdat Try to avoid spending money which you don't have. /thread

Yes!

my ex was living off student loan money through grad school. no biggie...everyone has student loans and the interest rate is nothing compared to regular loans...

do it.

Re: Student loans

I have a student line of credit, which I guess is the same thing.

If I understand what you're saying correctly, you're not actually going to go to school...you just want the money?

I dunno how it works at your bank, but at mine they required proof of full time enrollment before they gave me the money. They also didn't give it to me without having collateral and doing a credit check.

Fortunately I have those things in good standing, so they hooked me up...very very nicely too!



I think it's cool if you're going to go to school...sometimes you just have to accept that you HAVE to be in debt at some point in your life (if you don't have mommy and daddy doing everything for you). But if you just want this money to fuck around, then I think it's a bad move.



edit: No they don't watch my spending, but they only release it in increments of 10 000 per year. I can do whatever I want with it once it's in my account.

This thread just reminded me that when I'm done I'll be about $80,000 in the hole, without many prospects to pay it back quickly.

quote:

Originally posted by RJT This thread just reminded me that when I'm done I'll be about $80,000 in the hole, without many prospects to pay it back quickly.

Holy fuck, this makes me feel better about my debt. Mind you, I won't have much trouble paying mine off. If I win the lottery or something, I'll be sure to send some money your way!

Basically the majority my bills etc. over the last 3 years (plus one year that cost about $20,000 in tuition alone prior to that) have been payed by student loans because my family simply can't afford to pay for shit. Some kids work 40 hours a week and go to school to pay the bills, but I just couldn't make that shit work with a full load of credits - so student loans were the only way I could go to college.

quote:

Originally posted by RJT Basically the majority my bills etc. over the last 3 years (plus one year that cost about $20,000 in tuition alone prior to that) have been payed by student loans because my family simply can't afford to pay for shit. Some kids work 40 hours a week and go to school to pay the bills, but I just couldn't make that shit work with a full load of credits - so student loans were the only way I could go to college.

I feel you dude. It's pretty much the same for me. No way in hell I could have worked last semester and balanced school as well. I have to get a job now, but it's all good now that I'm settled in.

Plus I can work as a PSW (personal support worker) now that I have more experience, which is good because it's related to my field of study.

Otherwise yeah, my line of credit is my only source of income. The one good thing is that I live with my mom and don't pay rent.

Yup, rent is pretty much the one bill that killed me the most. For 2.5 years it was like $550 a month

I work, just not enough to cover the bills. I make probably about $300 or so every two weeks, so it's enough for gas, pot, and a little fun on the weekends

And either way - I'm not too worried, people come out far worse than me and do just fine, it'll just be a lot of work

quote:

Originally posted by RJT And either way - I'm not too worried, people come out far worse than me and do just fine, it'll just be a lot of work

Exactly.

$550 a month? jeez. that's nothing. but then again, you live in wisco. lol

quote:

Originally posted by Slylee $550 a month? jeez. that's nothing. but then again, you live in wisco. lol

Yeah, but then again, you live with your mom. lol.

quote:

Originally posted by RJT Yeah, but then again, you live with your mom. lol.

lol sorry! i wasn't trying to be mean. it's just a huge difference in pricing with different areas that's all. i'm apartment hunting now and i can't find anything decent for under $900 a month.

probably gonna go the roommate route

I wasn't really trying to be mean either Jamie - hell, my Mom actually SUGGESTED I move back home to save money in the last year of school

And yeah, Myra and I are kind of in the same boat as far as Apt. hunting, because she needs to move in August, and I'm hoping to graduate in December, so she needs place she can afford for 6 months or so on her own, and that is big enough for me and her to live in comfortably afterwards. Milwaukee isn't Miami, but it'll still probably be at least $700-$800 a month (I think, Myra's the expert here).

In all honesty - I'm considering just transfering to Milwaukee, finishing an extra semester, and just take care of all of our moving scenario's at once.

yea i would stay and mooch off my mom some more if i was like 21, but i can't do that any more lol she keeps bugging me to stay but i think she just likes my company. i feel bad, but i can't live with her at 25 years old, i don't care that i'm still in school. i miss having my own place. especially the one in miami...that place was piiiimp. i miss it

quote:

Originally posted by RJT Some kids work 40 hours a week and go to school to pay the bills

yup, that's me. life sucks.

Are you in school this semester, Nate? I know you work a shit ton of hours and 3rd shift...

quote:

Originally posted by RJT all honesty - I'm considering just transfering to Milwaukee, finishing an extra semester, and just take care of all of our moving scenario's at once.

do it

quote:

Originally posted by RJT Are you in school this semester, Nate? I know you work a shit ton of hours and 3rd shift...

yup, just 6 credits though. there's no way in hell i can do full-time both. just got off of work about an hour ago... class in 5 hours

hence why life sucks.

Damn man, I had no idea you were in school!

Bummah.

quote:

Originally posted by RJT This thread just reminded me that when I'm done I'll be about $80,000 in the hole, without many prospects to pay it back quickly.

Damn son. Once I get married, I will have a combined debt of about 55k. No biggie. Payments start off small and gradually increase over time. Either way pay more if you can, if not... it is no biggie.

quote:

Originally posted by RJT Damn man, I had no idea you were in school! Bummah.

yeah, i gotta stay in school though. i thought my ~$10,000 debt was bad, but i guess $80,000 trumps that. about $1100 of that debt has to be paid by march 14th though, so w00t for that. not including the fees for the accident friday.

but yeah, you should definitely transfer to UWM bro.

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