Student Loans Regret?

Mojodmonky1 said:
INshoeKid said:
This is why I started a college fund for my kid before I even met my wife or had thought of having children. Been saving for 5 years now with my first due on December 15th. I'll be pushing good grades and hopefully he or she will end up with an academic scholarship like I had. Then I can just give he/she the money to start adult life. I Ended up with a full academic scholarship, Definitely made starting life much easier.

I graduated with friends that were 75k+ in debt and now 8 years after college are just now as financially stable as I was in 2007. Glad my parents beat school into my head when I was young. I'm figuring I need to have at least 150k saved for college in 19 years. Hope this 529 performs well.
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This is some responsible parenting right there. Man I wish I started saving for my kid's college fund that long ago.

I too was lucky enough to get a full academic scholarship coming out of HS. It was to a not so prestigious state school, but I figured that a free education was better move for me than taking on loans to get a degree from a better name school. Coming out of school with little debt (I was a dummy who screwed around and took 5 1/2 yrs to graduate so I did end up taking out a loan for that last year) was so much easier compared to some of my friends who were saddled with large student loan debt. I'd like to be able to provide the same sort of financial freedom to my daughter when she goes to school (assuming she's not like her pops and cant manage to score a scholarship). My little girl just turned one and we've put $20K into her 529 plan already. I too hope to have atleast $150K by the time she is ready for school. The way this education bubble is going though, $150K might only pay for 1 year of school. Crazy.
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protect yourself from inflation. get that yellow metal and save that way. :smokin
 
andycrazn said:
Mojodmonky1 said:
INshoeKid said:
This is why I started a college fund for my kid before I even met my wife or had thought of having children. Been saving for 5 years now with my first due on December 15th. I'll be pushing good grades and hopefully he or she will end up with an academic scholarship like I had. Then I can just give he/she the money to start adult life. I Ended up with a full academic scholarship, Definitely made starting life much easier.

I graduated with friends that were 75k+ in debt and now 8 years after college are just now as financially stable as I was in 2007. Glad my parents beat school into my head when I was young. I'm figuring I need to have at least 150k saved for college in 19 years. Hope this 529 performs well.
Click to expand...

This is some responsible parenting right there. Man I wish I started saving for my kid's college fund that long ago.

I too was lucky enough to get a full academic scholarship coming out of HS. It was to a not so prestigious state school, but I figured that a free education was better move for me than taking on loans to get a degree from a better name school. Coming out of school with little debt (I was a dummy who screwed around and took 5 1/2 yrs to graduate so I did end up taking out a loan for that last year) was so much easier compared to some of my friends who were saddled with large student loan debt. I'd like to be able to provide the same sort of financial freedom to my daughter when she goes to school (assuming she's not like her pops and cant manage to score a scholarship). My little girl just turned one and we've put $20K into her 529 plan already. I too hope to have atleast $150K by the time she is ready for school. The way this education bubble is going though, $150K might only pay for 1 year of school. Crazy.
Click to expand...

protect yourself from inflation. get that yellow metal and save that way. :smokin
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hahahaha my 1 yr old daughter has already amassed a larger stock of gold than i have ever had in my entire life. i guess its a traditional thing to give gold as a gift for a 1st birthday in asian cultures (i'm korean and the wife is chinese). my parents, my brother, the wife's grandmother, and a myriad of other relatives gifted her with gold rings, bracelets, pendants, and other gold jewelry.
 
Graduating May with 20k debt. I thought I was in bad shape until I read this thread.
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This **** is such a scam man. College was a complete waste of time and money for 65 percent of the experience. I learned more within the first 3 weeks of my current internship than I did in 3 semesters.

What a ****show.
 
KingdomFlatbush said:
 
Graduating May with 20k debt. I thought I was in bad shape until I read this thread.
mean.gif


This **** is such a scam man. College was a complete waste of time and money for 65 percent of the experience. I learned more within the first 3 weeks of my current internship than I did in 3 semesters.

What a ****show.
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 This right here 
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College can only do so much you also have to have the drive to do well for yourself. I've been out of school for two years now graduated from UC Santa Cruz with a degree in business management. First year out landed a job as a transportation sales rep in inside sales, took home about 70k . 2nd year got moved to field sales making 95k + car allowance in Socal. Graduated with 20k in debt which isn't much due to my pops saving for school. Works out great because of the position he put me in I can save earlier for my children's future education and build wealth by purchasing a home early.
 
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Man reading some of these posts makes me so grateful that my dad has agreed to pay my college expenses...around 170k at that

I plan on giving back as much as I can but damn what a blessing
 
I would still recommend college to most students, but you gotta come at it with the right mindset.

College is still a great investment if you play it right.

And if you're learning nothing, that is partly mostly your fault. Plain and Simple
 
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private loans have taken many, many, many tens of thousands of dollars from my accounts in the last 4.25 years (when i started paying)
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, but have left me with a damn near perfect credit score, so i have that going for me, which is nice (for da future) 
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I have $118k in student loans. Luckily I have a career that pays well enough that lessens the burden a little bit and gives me some wiggle room. My pay back schedule is Income-Based, but I'm paying double the amount because I can afford it. It's better than paying $1200 a month. I also don't regret it either.
 
I don't regret having student loans. I just regret taking more than I actually needed.
 
I'm kind of blessed i got $15,000 per semester in scholarships for 3 years. So I'm borrowing about $7k in loans per semester. So within the long run, I'm probably borrowing $45 in loans (if I'm calculating all of this correctly). 

Is this any good for me? I'm still all new to this, I went to a community college first to dodge any loans. I am debating on moving out to SF where i go to school as an industrial designer, but I'm kinda iffy on moving out because I don't want to take anymore loans. IDK if it'll be worth it to borrow more loans just to move near campus, but what do y'all suggest?
 
KingdomFlatbush said:
 
Graduating May with 20k debt. I thought I was in bad shape until I read this thread.
mean.gif


This **** is such a scam man. College was a complete waste of time and money for 65 percent of the experience. I learned more within the first 3 weeks of my current internship than I did in 3 semesters.

What a ****show.
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true, my professor uploaded instructional vids on youtube for us to use as reference 
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. Like bruh, you're telling me i could've got free education? We're all just paying for a title, we're capable of doing anything but that title is what will get us a job 
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 System is all messed up
 
RustyShackleford said:
I would still recommend college to most students, but you gotta come at it with the right mindset.

College is still a great investment if you play it right.

And if you're learning nothing, that is partly mostly your fault. Plain and Simple
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95% of what you learn and gain from college happens out of the classroom

and i dont mean hw/essays/group assignments either

find people that do cool things and do cool things with them, being able to show that you have worked on something great is worth more to a resume than a useless degree 
 
sea manup said:
 
95% of what you learn and gain from college happens out of the classroom

and i dont mean hw/essays/group assignments either

find people that do cool things and do cool things with them, being able to show that you have worked on something great is worth more to a resume than a useless degree 
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Oh I have several extracurricular campus activities on my resume.

I paid for the classrooms tho
 
Can't post the vid 'cause I don't know how to embed non-youtube vids (anyone know how?), but I saw/read this yesterday -->

http://money.cnn.com/2015/03/24/pf/college/student-debt-100000/index.html?iid=SF_PF_River

and figured it'd be relevant to this thread.

Perspective matters, and perhaps realizing that it could be worse (like having over 100K like some of the people noted in the link) may offer some level of succor to some of you.

I too have student loans, but I've been tackling them aggressively (snowball method) and will be debt free in less than a year.

When I make my final payment, I'll treat myself to a full breakfast at a diner and some stocks...:smokin







...
 
Just be aggressive. You have to delay the urge to ball. I paid off 100k in three years and its the best thing I've ever done. Anytime you have extra money just throw it in the bucket. And that thing will sink. The key is out running the interest because that is what gets you.
 
TraPpStar said:
Just be aggressive. You have to delay the urge to ball. I paid off 100k in three years and its the best thing I've ever done. Anytime you have extra money just throw it in the bucket. And that thing will sink. The key is out running the interest because that is what gets you.
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how'd you manage that within 3 years? Did you move back home? I'm considering on just staying home until I don't owe anyone **** 
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 Just so i could finally go on out and handle my own world and plan moves for the long run
 
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