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View Poll Results: How much could were you in debt/how much could you be
0-1000 in CC debt
24
60.00%
1000-3000 in CC debt
3
7.50%
3000-6000 in CC debt
3
7.50%
6000-10,000 in CC debt
1
2.50%
10,000+ in CC debt
2
5.00%
0-1000 in available credit
2
5.00%
1000-3000 in available credit
2
5.00%
3000-6000 in available credit
0
0%
6000-10,000 in available credit
3
7.50%
10,000+ in available credit
16
40.00%
Multiple Choice Poll. Voters: 40. You may not vote on this poll

College Debt

Old 07-16-07, 12:08 PM
  #51  
Jerseysbest
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Payed off student loans by living at home with parents and working full time, as well as buying a decent used car.

Chase card is $25k and current "fixed" rate is 5.99%. If I knew that rate couldn't change so easily, like on the whim of the company, I'd probably use it to invest.
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Old 07-16-07, 12:38 PM
  #52  
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Originally Posted by skiahh
Oh, and for the record, I've already been to the sandbox. Twice.
I appreciate the sacrifice, though thats not exactly what i meant.

What's more pathetic? Responding to twits, or purposely acting like a twit?

Last edited by timmyquest; 07-16-07 at 12:50 PM.
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Old 07-16-07, 12:51 PM
  #53  
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Originally Posted by lucky53s
Let's not get into semantics. College debt is any debt built up while in college right? I think you mean student loan debt. Credit card debt can be anything from buying college books to too many nights at the bar while you should be studying. You're right though GF, student loan debt at 8% interest is WAY better than CC debt at 17% interest or more.

actually, my private student loans ($5,000 total after this coming year) are at 13% for last year and 14% this year and this builds while i'm in school... so... yeah *sigh* if only my mom could cosign!
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Old 07-16-07, 01:00 PM
  #54  
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Originally Posted by goldfishin
actually, my private student loans ($5,000 total after this coming year) are at 13% for last year and 14% this year and this builds while i'm in school... so... yeah *sigh* if only my mom could cosign!
That's not typical.

Different lenders
Different credit histories (i'm not paying nearly that much and i don't have a cosigner)
etc

You may want to either look at other lenders, other family members to cosign, and or both.
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Old 07-16-07, 01:20 PM
  #55  
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done that. any other would have to be paid off in school.
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Old 07-16-07, 01:27 PM
  #56  
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i was talking to some recent college grads like myself in january & this girl said "i really need this job because i owe $20,000 in college loans." i looked at her & said "****, that's not even the amount i owe for one year." she didn't understand. she did go to central michigan though.
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Old 07-16-07, 01:31 PM
  #57  
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Originally Posted by 3MTA3
i was talking to some recent college grads like myself in january & this girl said "i really need this job because i owe $20,000 in college loans." i looked at her & said "****, that's not even the amount i owe for one year." she didn't understand. she did go to central michigan though.
Yeah i can relate...my choice to pay $9500 for tuition a semester tough.

In the grand scheme of things the out-of-state tuition isn't even the expensive part.
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Old 07-16-07, 01:48 PM
  #58  
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You mean for undergraduate or grad school? Undergraduate, nothing. Graduate, about $20k in student loans, since retired. Credit cards, no more than about $1500.
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Old 07-16-07, 01:49 PM
  #59  
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Originally Posted by bluebottle1
You mean for undergraduate or grad school? Undergraduate, nothing. Graduate, about $20k in student loans, since retired. Credit cards, no more than about $1500.
Mostly undergrad as thats where i'm at...but i am thinking of grad school so...
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Old 07-16-07, 01:56 PM
  #60  
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My college debt is in the form of Canada Student Loans, who, by the way, are worse sharks than the CC companies.

And I'm going back in September. Sigh.
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Old 07-16-07, 01:57 PM
  #61  
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I graduated with my Bachelor of Science degree in Rehabilitation Services from the University of Maine at Farmington owing...wait for it...wait for it...wait for it...NOTHING! Absolutely Nothing!
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Old 07-16-07, 02:50 PM
  #62  
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how?
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Old 07-16-07, 03:11 PM
  #63  
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Originally Posted by goldfishin
how?
Wealthy parents, scholarships, a good job, or all three
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Old 07-16-07, 03:15 PM
  #64  
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Originally Posted by goldfishin
um... use student loans to pay for your college. a credit card is bad BAD BAD for this
Credit cards are not generally a good way to borrow money. If you maintain balances, you'll wind up paying much more than you would getting loans through other sources.

I had no CC debt, but some non CC student debt when I graduated. My wife went to a private school, so she was $28K under (which I know is nothing nowadays, but it was a lot then and still is takes a lot of work to pay off). Add in a car loan, and you have to work your butt off before you see dollar one to pay for rent on a crummy place.

The last of the student loans paid off in 2001. House paid off in 2006. Life's just 10 times more fun when you're ahead.
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Old 07-16-07, 03:33 PM
  #65  
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Originally Posted by goldfishin
how?
A scholarship, a good job, and determination.
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