Student loans.. Who has them?

[KBScobravert]

I read this article a while back, that said that Microsoft employs more millionaire secretary's that any other company in the world. They took stock options over Christmas bonuses. It was a good move. I remember there was this picture, of one of the groundskeepers next to his Ferrari. Blew my mind. you see shit like that, and it just plants seeds, makes you think its possible, even easy. And then you turn on the TV, and there's just more of it. The $87 Million lottery winner, that kid actor that just made 20 million o his last movie, that internet stock that shot through the roof, you could have made millions if you had just gotten in early, and that's exactly what I wanted to do: get in. I didn't want to be an innovator any more, i just wanted to make the quick and easy buck, i just wanted in. The Notorious BIG said it best: "Either you're slingin' crack-rock, or you've got a wicked jump-shot." Nobody wants to work for it anymore. There's no honor in taking that after school job at Mickey Dee's, honor's in the dollar, kid. So I went the white boy way of slinging crack-rock: I became a stock broker.

I just watched that the other night. Well that scene at least.

[Roscoe]

I just watched that the other night. Well that scene at least.

Good flick indeed.

[Vertnut]

Lol, no I wouldn't do that. Google dcf analysis.

Discounted Cash Flow Analysis...I get it!

[slow99]

Discounted Cash Flow Analysis...I get it!

And shit, if you think UT is expensive. It was half the price of the other programs I was considering.

[black2002ls]

My wife got accepted to the University of Hawaii on a full ride, but her parents wouldnt let her go, so to get back at them she went to Baylor.

They had to finance that, so now we have ~$75,000 in student loans. Take it she's a CPA, but she is still young in her career and isn't making she's worth.

I on the other hand went to a local school and $27,000 later I walked out with a BS in Construction Science paid in full.

For a while I was making more than she was, everyone is right about needing to teach kids how to handle money in life.

Where did you go to school?

[8mpg]

I had a shit ton of loans... paid off $25k last year. It felt GREAT

[Sean88gt]

Unfortunately.

[BMCSean]

Serve your country, get payed to go to school, for three years at least.

[2000 vert]

I had about 45k. Graduated in 99. Paid back 36k so far and still owe around 40k I think. Loans from the 90's are high intrest. Mine are at 8.25% still havnt found a way to lower the rate. Wish I knew what I know now when I was in my twenties and stupid. Don't ever borrow more than u need.

[Cooter]

I had about 45k. Graduated in 99. Paid back 36k so far and still owe around 40k I think. Loans from the 90's are high intrest. Mine are at 8.25% still havnt found a way to lower the rate. Wish I knew what I know now when I was in my twenties and stupid. Don't ever borrow more than u need.

DO NOT FUCKING WANT!

I think I'd sell some of that shit in your sig and pay that down

[2000 vert]

DO NOT FUCKING WANT!

I think I'd sell some of that shit in your sig and pay that down

Really? How much you think I can get for a 12 year old GT vert with 235K on it that is my daily. If it would make a dent in a 40k debt it would be gone tomorrow. LOL! I still have to get the job that the degree got me, so I can pay it back. Without the the loans it would be a 2012 GT. I just think they should educate kids more about how these loans will affect them later in life.

[slow99]

I had about 45k. Graduated in 99. Paid back 36k so far and still owe around 40k I think. Loans from the 90's are high intrest. Mine are at 8.25% still havnt found a way to lower the rate. Wish I knew what I know now when I was in my twenties and stupid. Don't ever borrow more than u need.

Yeah, I just threw together a quick amort table and the numbers you posted sound roughly correct if you've been paying 10-11 years with a 25 ish year payment period.

I don't really have a lot to say as far as sympathy for people who can't pay them back goes ... but the fact that you can't ever adjust the rate is fucking retarded.

[Vertnut]

I had about 45k. Graduated in 99. Paid back 36k so far and still owe around 40k I think. Loans from the 90's are high intrest. Mine are at 8.25% still havnt found a way to lower the rate. Wish I knew what I know now when I was in my twenties and stupid. Don't ever borrow more than u need.

Now that uncle Obama is handling ALL student loans, there won't be any rate reductions. Many years ago, my wifes' loans were around 4%. My daughter graduated a year ago, and we have a small balance from her loan and it's at 8.5%

[talisman]

I had about 45k. Graduated in 99. Paid back 36k so far and still owe around 40k I think. Loans from the 90's are high intrest. Mine are at 8.25% still havnt found a way to lower the rate. Wish I knew what I know now when I was in my twenties and stupid. Don't ever borrow more than u need.

Christ! I thought most SLs were fairly low interest. I guess that makes sense though. My first mortgage was 8.35% back in 2000. I look at rates now and it has me chomping at the bit to get back into another property before things go back up.

[Broncojohnny]

I think my rate was around 4% when I graduated in the late 90s and my total balance was about $24K. It was easily managed even though with payments of about $200 a month, I just paid the shit out of it for the first few years.

Then again I didn't get a degree in TV/VCR repair, carpet installation sciences or space station hotel management either. Higher education pays off if you do it right but it has to be the right kind of higher education.