# How much Student Debt do you have?



## thisismeyo (Feb 15, 2013)

I'm in a tight spot right now.

I have been going to a community college for 1.5 years so far and mananged to stay out of debt. I don't even know exactly what I want to study. I only went because it was expected of me LOL (yea I'm stupid) now i am broke but at least not in debt. i have a bunch of random classes i took because i don't know what i want to do loool.

I have recently thought of what I might want to study. I was thinking of getting an engineering degree. If I do that, I will have to go to a 4 year university and end up with student loan debt, maybe 20 or 25k or so.

College degrees have become worth less over the years and the prices have risen. I love learning though, and I want to posisition myself to be better marketable in the job market. I also need time to work on my social skills and college can deffentialy help with that.

I am curious for those in college or those who already graduated, how much student debt do you have? How long do you feel it will take you to repay that debt if you have any?


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## Letmebe (Dec 17, 2012)

None, by magical means known as pell grants and smart choice in college.

I'm a wizard!


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## thepigeon2222 (Nov 16, 2012)

did you do a fasfa


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## komorikun (Jan 11, 2009)

40k. And I will have 11-12k left over from these loans to pay for expenses while I look for work when I graduate.

The pell grants and university grants only leave about 3k a year after tuition and books. Have to pay the rent on a shared apartment. Living with family is impossible since my dad lives in a 1-bedroom apartment with my step-monster. I do not have energy to work and go to school at the same time. Need to keep my GPA up in case I go to grad school or whatever.


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## CopadoMexicano (Aug 21, 2004)

$0.00


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## Liability (Jan 11, 2013)

$0.00

and i switched majors for a bit. I dont know how americans can do it paying such a high amounts of $$$ for university...especially if you have no idea what you want to do but go to university anyways.


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## Perfectionist (Mar 19, 2004)

I've been a full time student since 2006 and am now in my PhD and have no debt.

I have no freaking idea how the hell I managed this. Although it is worth noting I go to school in Canada and not in the states. Those schools in the country that is Canada's pants are caraaaazy.


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## thisismeyo (Feb 15, 2013)

thepigeon2222 said:


> did you do a fasfa


 yeah, did it in 2011 but got nothing. i didn't do it in 2012 cause im not very smart. but i just did it again in 2013 and i think i qualify for a little bit in a grant


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## lonelyjew (Jan 20, 2010)

~$35K, and it'll probably be $80 - +100K by the time I can actually start paying it lol. Better than my classmates from out of state though, who are looking at debt closer to $300-400K...


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## Forwhatiamworth (Mar 3, 2013)

Im still an undergrad but by the time I have a masters it will probably be about 80K. I plan on going to a school that is not expensive for my undergrad and getting a scholarship along with my grant.


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## lonelyjew (Jan 20, 2010)

Perfectionist said:


> I've been a full time student since 2006 and am now in my PhD and have no debt.
> 
> I have no freaking idea how the hell I managed this. Although it is worth noting I go to school in Canada and not in the states. Those schools in the country that is Canada's pants are caraaaazy.


Actually PhDs are paid for here, and actually, the student gets paid! I think it's usually around $15-20K a year, but if you can pull in good grants, and get other funding, you can make even more. It gets better though, because with combined degree programs that include a PhD, the other program often gets paid for as well. There's a guy in my class from California who's in my school's MD PHD program, so this guy doesn't just get the $64K/year tuition paid for by the school, he is actually making money (and he'll get his PhD in 3-4 years instead of having to do the normal 5-6)!


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## Kwtrader (Oct 10, 2007)

6.9K left


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## Perfectionist (Mar 19, 2004)

lonelyjew said:


> Actually PhDs are paid for here, and actually, the student gets paid! I think it's usually around $15-20K a year, but if you can pull in good grants, and get other funding, you can make even more. It gets better though, because with combined degree programs that include a PhD, the other program often gets paid for as well. There's a guy in my class from California who's in my school's MD PHD program, so this guy doesn't just get the $64K/year tuition paid for by the school, he is actually making money (and he'll get his PhD in 3-4 years instead of having to do the normal 5-6)!


When you say PhDs are paid for, do you mean the students have no tuition? I get like a 20K a year stipend, and can make more with additional funding or grants or TAships, so it sounds about this same. But I still have to pay tuition out of that. No tuition would be baaaaaalllin I'd be rollin in scrilla. Well no but I'd have enough to buy some groceries besides Kraft Dinner.


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## Landry (Feb 25, 2013)

I am finishing my B.A. this May and will be graduating with $11,000 in debt (even though I finished in three years rather than four). From there, I am not sure if I am going to go on to get a Master's or go back and get a B.S., but either way more debt is coming.


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## shyg1rl (Dec 9, 2012)

$12,100


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## blue the puppy (Jul 23, 2011)

zero. i am very lucky in that regard.
i have a fair amount of credit card debt, though ..


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## blueidealist26 (Dec 16, 2012)

None now, since I paid it off while working at a fast food place and living at home (still no career yet), but I think I had around $10k to start with. I'm from Canada though.


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## SPC (May 14, 2011)

lonelyjew said:


> ~$35K, and it'll probably be $80 - +100K by the time I can actually start paying it lol. Better than my classmates from out of state though, who are looking at debt closer to $300-400K...


100k by the time you graduate? jesus h christ...i have none atm but i will start graduate school at syracuse this fall and thats 50K per year and my GI bill only covers 30K per year :afr


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## misspeachy (Aug 11, 2011)

Who cares?
You only have to pay it back when you are able to, so why should it matter?? 

Sorry if this comes across as a little blunt, that's the scorpio in me.


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## Cam1 (Dec 4, 2011)

misspeachy said:


> Who cares?
> *You only have to pay it back when you are able t*o, so why should it matter??
> 
> Sorry if this comes across as a little blunt, that's the scorpio in me.


Nope. 6 months after you're out of school you start paying, whether you're ready to or not.

As for me, I'm around 20k so far. I'll be well over 100k by the time I finish. I don't qualify for Pell grants because for some strange reason what my parents make dictates how much I get. I'm paying, not them.


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## CrimsonTrigger (Jun 28, 2011)

Almost 30k. I'm nearly done, so it probably won't go up much more, but with two more credits to get, it might. I'm just trying not to agonize over it because constant worrying is ruining my life. If I could have, I would have gotten a part time job and worked alongside my University degree in order to help ease the load, but with so many issues I'm facing, there wasn't much I could do.


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## InfiniteBlaze (Jan 27, 2011)

By the time I'm done I'll end up paying around 30k


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## AceRimmer (Nov 12, 2008)

misspeachy said:


> Who cares?
> You only have to pay it back when you are able to, so why should it matter??


 This only applies to federal loans and you have to be really poor to not have to pay it back AKA life is sucking hardcore. Otherwise 10% of your income goes to the Feds even if they have to garnish your wages and Social Security. With private loans (FU Sallie Mae), you're paying back no matter what.


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## komorikun (Jan 11, 2009)

They now have this:

http://studentaid.ed.gov/repay-loans/understand/plans/pay-as-you-earn



> The "Pay as You Earn" program will allow eligible student-loan borrowers to cap monthly payments to 10 percent of discretionary income, and have their loans forgiven after 20 years. An earlier version of the program capped payments at 15 percent and offered forgiveness after 25 years.


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## enfield (Sep 4, 2010)

komorikun said:


> They now have this:
> 
> http://studentaid.ed.gov/repay-loans/understand/plans/pay-as-you-earn


have you looked into discharging them. i'm set on discharging mine unless they make it even more difficult to do so between now and then. apparently although they made them harder to discharge, if you just show some persistence about it, you actually have a decent shot at getting them discharged (I glanced at some article indicating this - that's where my conviction to have them discharged was born. at first, wikipedia made it seem impossible to me. but the reality turned out be be different than what wikipedia said. i was astonished by this).


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## Unkn0wn Pleasures (Nov 24, 2011)

:stu Six grand maybe. It's on hex-debt so I don't have to pay it untill my income reaches a certain level. It's not like I'm ever going to have a decent job so...


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## Unkn0wn Pleasures (Nov 24, 2011)

Cam1 said:


> *Nope. 6 months after you're out of school you start paying, whether you're ready to or not*.
> 
> As for me, I'm around 20k so far. I'll be well over 100k by the time I finish. I don't qualify for Pell grants because for some strange reason what my parents make dictates how much I get. I'm paying, not them.


Ouch. Not in Australia hehe


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## AceRimmer (Nov 12, 2008)

komorikun said:


> They now have this:
> 
> http://studentaid.ed.gov/repay-loans/understand/plans/pay-as-you-earn





> You also must be a new borrower as of Oct. 1, 2007, and must have received a disbursement of a Direct Loan on or after Oct. 1, 2011. You are a new borrower if you had no outstanding balance on a Direct Loan or FFEL Program loan as of Oct. 1, 2007, or had no outstanding balance on a Direct Loan or FFEL Program loan when you received a new loan on or after Oct. 1, 2007.


 Man I always get screwed by bad timing in these things. First, I get to pay 6.8% interest instead of 3% on my fed loans. Now I get to pay for 25 years instead of 20. These things should be retroactive I tell ya.


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## Evo (Jan 1, 2012)

Probably around $15K after I've finished.


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## brigidpont (Mar 14, 2013)

~$50K after my two year program.


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## sansd (Mar 22, 2006)

Perfectionist said:


> When you say PhDs are paid for, do you mean the students have no tuition? I get like a 20K a year stipend, and can make more with additional funding or grants or TAships, so it sounds about this same. But I still have to pay tuition out of that. No tuition would be baaaaaalllin I'd be rollin in scrilla. Well no but I'd have enough to buy some groceries besides Kraft Dinner.


There is tuition, but I know at least my department paid it for all their grad students. I assume (have heard) that is typical.


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## Soilwork (May 14, 2012)

I owe the students loan company around £10,000 but I don't need to start paying it back until I'm earning over £15,795.


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## Genetic Garbage (May 7, 2011)

None, because no tuition fees so far.


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## Freiheit (Dec 8, 2008)

None. My schooling wasn't that expensive. I only have an associate's degree and my father paid for it.


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## mezzoforte (May 16, 2010)

Right now, $3500. But I'm only a freshman. :b


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## theintrovertedgirl (Jun 23, 2012)

About 37,000 when i get done, still got grad school though


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## depresivac (Mar 17, 2013)

50k for a university? Is this public or private university and whats covered by those 50k$? Here in Europe most universities are public and basically free,can imagine to pay 30k euros for university, that's just too much...


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## AceRimmer (Nov 12, 2008)

YuWarez said:


> 50k for a university? Is this public or private university and whats covered by those 50k$? Here in Europe most universities are public and basically free,can imagine to pay 30k euros for university, that's just too much...


$50K is about average for a private university. That usually covers tuition + room & board. Public universities aren't cheap either. The 4th rate public university I went to was $15K/year for tuition only.


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## komorikun (Jan 11, 2009)

My university costs about $7000 per year in tuition. The financial aid I receive does cover the tuition but it does not leave enough to pay rent on a room in a shared apartment.


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## mooncake (Jan 29, 2008)

Fortunately I got a £1000 scholarship each year for two years, and some of my loan was substituted for a non-repayable grant, because I was considered poor. That helped out a bit.

Still, £20,000 in total (9K in course fees, the rest for the costs of living) apparently. More than I'd thought... I'll have to investigate. Makes me sad.


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## nyclover (Feb 22, 2013)

enfield said:


> have you looked into discharging them. i'm set on discharging mine unless they make it even more difficult to do so between now and then. apparently although they made them harder to discharge, if you just show some persistence about it, you actually have a decent shot at getting them discharged (I glanced at some article indicating this - that's where my conviction to have them discharged was born. at first, wikipedia made it seem impossible to me. but the reality turned out be be different than what wikipedia said. i was astonished by this).


Federal student loans are more-or-less non-dischargeable.

The best option (outside of the limited cases under which Pay As You Earn applies) at that point is Income Based Repayment (IBR). The chief problem with IBR, however, is that because your payments are so low relative to the principle, interest will continue to accrue. Moreover, debt may only be discharged after 20 years. At that point, you're hit with a tax bomb, which _is_ in fact dischargeable in bankruptcy. But, it really isn't desirable to have debt looming over your head for that long; if you're unable to pay the tax bomb, filing for bankruptcy in your 40s is no fun either.


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## enfield (Sep 4, 2010)

nyclover said:


> Federal student loans are more-or-less non-dischargeable.
> 
> The best option (outside of the limited cases under which Pay As You Earn applies) at that point is Income Based Repayment (IBR). The chief problem with IBR, however, is that because your payments are so low relative to the principle, interest will continue to accrue. Moreover, debt may only be discharged after 20 years. At that point, you're hit with a tax bomb, which _is_ in fact dischargeable in bankruptcy. But, it really isn't desirable to have debt looming over your head for that long; if you're unable to pay the tax bomb, filing for bankruptcy in your 40s is no fun either.


hmm. interesting. thanks for that reply!


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## Diacetylmorphine (Mar 9, 2011)

I'm not sure, I think it's about $700 per subject for me so...

700x4 = 2800 per semester. I've been at university for 5 semesters now.... 
2800 x 5 = $14000. (approximately)
I think when I'm done it'll be between 20 - 25k maybe?

fortunately I don't have to start paying anything until I earn over a certain threshold. Even then I think they only tax you for it or something, I dunno. The international students get rorted, a guy I was talking to the other week told me the total cost (for the same course) is ~$66K that has to be paid in upfront payments per semester.


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## thepigeon2222 (Nov 16, 2012)

like 16,000


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## HappyFriday (Jul 21, 2013)

Why on Earth people get in so much debt when they get little in return.


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## artsavesmysoul (Feb 2, 2012)

So far zero I go to community college and that's all taken care of but if I do switch to like a 4 year university then mostly likely there would be debt.But I'd try my best to pay back as often as possible if and when it happens.


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## forex (Dec 29, 2010)

I dont want to think about it !!!!

This thread aint cool.


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## Sindelle (Oct 22, 2010)

HappyFriday said:


> Why on Earth people get in so much debt when they get little in return.


Good question. It's because people push college to everyone no matter what.

I myself have $47K in student loan debt. I am having to drop out for a while due to the fact that they reduced my financial aid and because of my mental health issues. I have no idea what I'm going to do now.


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## Frostbite (May 14, 2013)

13k and counting


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## jlscho03 (Sep 5, 2012)

Only took out one loan at $3,500, but it turned out I didn't need to (financial aid at my University didn't finish kicking in until after Thanksgiving break, and I thought it all had to be paid before then...). So I saved the leftover money that rolled back once financial aid came in (well, technically from the financial aid) and stashed it in my savings account and have been able to pay it off quickly since graduating.

But I stopped school after getting a BA, so I can't imagine how it would be if I were to go to grad school...

Scholarship covered half of the tuition, state aid from high school grades paid another 1/4. Working paid the rest. I stayed in-state and lived with my parents, so I didn't have to worry about other expenses (car, food, rent, etc.). I would've taken out a lot more and owed if I hadn't lived at home. But I did miss out on a lot of learning opportunities and college experiences, and I feel I'm behind when it comes to living independently.


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## musiclover55 (Feb 7, 2011)

Right now I have $3500, unfortunately... any debt is bad IMO.


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## CopadoMexicano (Aug 21, 2004)

misspeachy said:


> Who cares?
> You only have to pay it back when you are able to, so why should it matter??
> 
> Sorry if this comes across as a little blunt, that's the scorpio in me.


I care. I aint going to be paying back what I borrowed better to have it free.


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## Grog (Sep 13, 2013)

I have no student dept and don't have a higher education did a trade instead 
But I have very large debt for one thing or another and think you all are worried about nothing as 50 000 is not a lot of Money at the end of the day with the big picture in mind 
And considering your higher education should provide you with something that makes you desirable to your future employers and something you will have for the rest of your life ,as well as usually higher education = higher pay packets the dept you have will be forgotten about in years to come when you will still be using the qualification gained 
So if your winging about it stop it was your choice 
And if your not well you must be smart enough to see the big picture and know its to your benefit in the long run and I commend you for doing the hard yards now rather than later .


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## Nono441 (May 14, 2012)

Will have $20k, more or less.


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