NTers paying back loans: How do you afford the finer things in life?

flyny

flyny

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A few years now into student loan repayment, I'm really thinking about moving that white. (Not really, but you get the idea)

$1000 a month for 8 more years (trying to knock it out as soon as possible)

Is anyone else in this same situation?
How do you maintain?
Do you get to live happy and treat yourself?
 
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FlyNY said:
A few years now into student loan repayment, I'm really thinking about moving that white. (Not really, but you get the idea)

$1000 a month for 8 more years (trying to knock it out as soon as possible)

Is anyone else in this same situation?
How do you maintain?
Do you get to live happy and treat yourself?
Click to expand...

What school did you go to? $1000 a month seems excessive.
 
Yes. I prefer to pay it at the beginning of the month, rest of the month, no worries.
I save money whenever possible.
When I can yes. But that all depends on what the finer things are to you.
 
I dont pay back my loans . They will probably never get the money until Hit the lottery.

I pay myself first before others.Suprised people pay them back in this economy

If they can work something out $50 or even $100 per month for 40 years then i will start paying

They need top change the laws so people who owe student loans pay like $50 -$100 a month for like 45 years so people wont be stressed and broke over loans. I mean all our life we our pushed and taught to go to school to better ourselves but are we really if we are stressed out over the school loans, and less money we have

Average loan is what 40k maybe. Gov/loans should say screw it and just make people pay back $50 or even $100 a month for 40 years. or even for the rest of their life until the loan is paid/ i would be more then willing to do that and I'm sure others would be too Then everyone will pay, the GOV will collect more money, less people worried and stressed, less money sending accounts to collections
 
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I'd like to know how others are doing it as well. I'm in the process of paying off my Graduate school loans and I don't know what I should do.

**** sucks man.
 
Superb said:
 
I pay myself first before others.Suprised people pay them back in this economy
Click to expand...
pimp.gif


im trying to go off the grid just incase tho...they can't take a something from nothing 
 
Superb said:
I dont pay back my loans . They will probably never get the money until Hit the lottery.

I pay myself first before others.Suprised people pay them back in this economy

If they can work something out $50 or even $100 per month for 40 years then i will start paying

They need top change the laws so people who owe student loans pay like $50 -$100 a month for like 45 years so people wont be stressed and broke over loans. I mean all our life we our pushed and taught to go to school to better ourselves but are we really if we are stressed out over the school loans, and less money we have


Average loan is what 40k maybe. Gov/loans should say screw it and just make people pay back $50 or even $100 a month for 40 years. or even for the rest of their life until the loan is paid/ i would be more then willing to do that and I'm sure others would be too Then everyone will pay, the GOV will collect more money, less people worried and stressed, less money sending accounts to collections
Click to expand...

and this I think is a flaw in our society.

But to OP, how do I do it?

I don't take out unnecessary loans.
 
Just be careful playing with the fed gov. They can hit you with that lien and seize your assets if you're not compliant.


Worrying about the finer things in life and they'll come through and just put all those fine things you've been enjoying up for auction.


pay your bills, namely your FEDERAL student loans. dummies, you're playing with fire.
 
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SneakerHeathen said:
Just be careful playing with the fed gov. They can hit you with that lien and seize your assets if you're not compliant.


Worrying about the finer things in life and they'll come through and just put all those fine things you've been enjoying up for auction.


pay your bills, namely your FEDERAL student loans. dummies, you're playing with fire.
Click to expand...
private student loans are even worse...most of the time have adjustable rates and they are relatively unregulated and its damn near impossible to discharge them in court...
 
graduated in 06 with 42gs in debt... now in 2014 still got 34 left but will be paid off next month in full... i got the money to pay it off in full but my parents agreed to pay half... regardless feels good to have that off my hands :pimp:
 
if I took out a unsubsidized loan how the hell do I make my payments?

what website do I go to?

i took one out from my school's website/my school account but idk where to pay back my loans at.
 
Really depends on the amount of loans taken out and who's servicing it. One loan of mine was 26k+ and I pay a little under 300 a month. I had three others that were $4000 or less each and I only pay $40-$60 a month for them. At the minimum i pay like $470 a month on loans. Was paying off a lot more when I first graduated because I lived at home the first year. Now I just budget for the minimum pays. I'll knock out the smaller ones first when I have free cash flow and then the larger one.

Sidenote: The larger loan I have is really just consolidated loans. So like 20 subsidized and unsubsidized added up, but I have the option to pay off each individual one. Take a look to see if thats the case with you, i.e.

You're loan is $1000 dollars but is made up of 5 different loans (200, 200, 100, 50, 450) with different interest rates. The amount they give you to pay is $20 a month, but its only 4, 4, 3, 1, 8 dollars to each respective loan. What I'm doing now, as far as this example, is paying that minimum $20 spread and an additional $30 to one of the loans. That way I'll knock them out fast and stop the interest they're trying to swindle out of me by only having me make meager payments to a loan.
 
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Superb said:
 
I dont pay back my loans . They will probably never get the money until Hit the lottery.

I pay myself first before others.Suprised people pay them back in this economy

If they can work something out $50 or even $100 per month for 40 years then i will start paying

They need top change the laws so people who owe student loans pay like $50 -$100 a month for like 45 years so people wont be stressed and broke over loans. I mean all our life we our pushed and taught to go to school to better ourselves but are we really if we are stressed out over the school loans, and less money we have

Average loan is what 40k maybe. Gov/loans should say screw it and just make people pay back $50 or even $100 a month for 40 years. or even for the rest of their life until the loan is paid/ i would be more then willing to do that and I'm sure others would be too Then everyone will pay, the GOV will collect more money, less people worried and stressed, less money sending accounts to collections
Click to expand...
I'm on this boat now, they'll get some payments eventually.
 
Superb said:
I dont pay back my loans . They will probably never get the money until Hit the lottery.

I pay myself first before others.Suprised people pay them back in this economy

If they can work something out $50 or even $100 per month for 40 years then i will start paying

They need top change the laws so people who owe student loans pay like $50 -$100 a month for like 45 years so people wont be stressed and broke over loans. I mean all our life we our pushed and taught to go to school to better ourselves but are we really if we are stressed out over the school loans, and less money we have


Average loan is what 40k maybe. Gov/loans should say screw it and just make people pay back $50 or even $100 a month for 40 years. or even for the rest of their life until the loan is paid/ i would be more then willing to do that and I'm sure others would be too Then everyone will pay, the GOV will collect more money, less people worried and stressed, less money sending accounts to collections
Click to expand...




This plan of yours isn't fully thought out. SMH at whoever repped this man for this post...:lol:.

Most, if not all loans, with particular emphasis on Student Loans, come with a side of "interest."

If your plan is to pay $50 to $100 per month for 40 years, odds are that the money/your payments are going towards the accrued interest (and barely, if I may add), and not the principle. You'd honestly never pay down your debt.

So, simply stated, your approach and tactic is meaningless. Might as well not pay anything--and face the consequences like a man.

Now I aint about to sit here and defend these ridiculous scumbag educational loan companies, but folks like you are equally as ridiculous, if not more so. No one asked you to go to an expensive school, and finance your education with burrowed money. You did all of that of your own volition; own up to yo' responsibilities like a man.





...
 
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