experience –
Student Loans....how long did/will it take to pay?Rating: (votes: 0) ![]() I've been out of school for a year almost, and paid close to 10 grand off. I owe 24 000 yet, and I plan to pay this off within less than 3 years. What about others? How long did it take you to pay off your loans? I owed approximately $12,700 at the time that my student loans went into repayment status in October 2010. My monthly payment between the two loans is $170, but I am making payments of $300 per month so that my balances will be completely paid off in about five years instead of ten. Comment:
If you owe 12,700 do you think it will still take 5 years? Maybe you will pay it sooner. My monthly payment is 300, but I pay at least 600. The sooner they go away, the better.
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*sigh* I still owe 91,000 Been a year since graduation
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OUCH!
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Quote from joanna73If you owe 12,700 do you think it will still take 5 years? Maybe you will pay it sooner. My monthly payment is 300, but I pay at least 600. The sooner they go away, the better.
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My monthly payment is 800
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Sure, I can relate. I am also single, but I don't own yet. I'm debating about buying soon, but then I'm not sure with also having loan payments, too. Then again, my rent is as high as a mortgage.
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I have a spouse as a disclaimer. I had 30 thousand in loans and paid it off in 10 months.
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whoohooo, community college, everything after 15 credit hours was free. My total out of pocket was maybe 6k.But now, ugh, I'm looking at about 90k total when I'm done with PA school. Wonder if I can still sell a kidney???
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OMG....please be careful with these student loans. I was just let go from my nursing job (after almost 3 years). I have no source of income right now (it has only been a week). However, I think I would stroke out if I owed that kind of money. Sure, I can understand 10k or less. However, nursing wages are stagnating. Nurses are being laid off. There is an overabundance of new grads flooding the market....and they can be hired for a lesser wage because all they want is training. PLEASE BE CAREFUL!!!!!
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If I had fewer obligations, I'd pay them off quicker. Right now, I've got a husband in grad school, kids, and a mortgage, so I'll be making the monthly payment. When we go back to two incomes, the'll get paid down faster.
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I owed $18 500 after graduation, but I paid it off in 13 months, only because I didn't have a children yet, or rent/mortgage. I got married right after graduation and we lived with family (which was a challenge in itself), so we could pay off student loans and save for a down payment on a house. Yes, I agree, be very careful with student loans, they can be a huge pain for young people trying to start a family/life. Credit can be so easy to get, but so hard to pay back, (designed so the lender makes lots of $$ off us.)
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