- Jun 28, 2003
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Which NASA center are you at? I'm here at NASA Ames in Moffett Field. I'm a sub under Lockheed Martin. Cool to see other NTers here who also work at NASA.
Student Loans Regret?
- Thread in 'General' Thread starter Started by moonshoes08,
- Start date
Which NASA center are you at? I'm here at NASA Ames in Moffett Field. I'm a sub under Lockheed Martin. Cool to see other NTers here who also work at NASA.
- Apr 15, 2007
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I am at Goddard Space Flight Center in good ol' Greebelt MD.
- Jul 22, 2003
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Even with all that, you're still doing better than most. You see those projects around the Lockheed Martin building and around Duval High? Those folks would love to even out at 40k a year AFTER paying $1,100 a month on anything at all. But I do feel your struggle, bruh. Keep your head up. Soon you'll be killing it.
superblytrife
Supporter
- Mar 20, 2002
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My own personal experiences and reading through this thread really make me think about what I'm going to tell my kids about college.
I'm all for education, but far too many of us (myself included) waste mad money on college. If I had stayed home for the first 2 years and went to a community college for my general ed stuff, I could've saved $10,000+. Granted, the college experience of living in the dorms at 17 years old was maaaaaaaaaad fun and something I'll never forget, but damn these loans suck.
I'm going to encourage my kids to not just go to college because that's what everyone else is doing. Go when you know what you'd like to do with your life so that you can streamline your education towards that goal. In the meantime, knock out your basics at a community college and save $$. Or go for a trade program that'll get you in the field making $$ within 2 years, if they're inclined that way.
I just know for me, I went to college because I thought that's what I was supposed to do. I had no clue about anything other than I was looking forward to being away from home so I could party my *** off. And party my *** off I did.
I'd imagine a lot of other folks made the same mistake I did in thinking like that. In retrospect it was dumb, but as a 17-year old it made sense. Oh well...it is what it is. Those college years were a lot of fun and I did meet a handful of people that I'll be able to call friends for life. I guess that's some consolation.
I'm all for education, but far too many of us (myself included) waste mad money on college. If I had stayed home for the first 2 years and went to a community college for my general ed stuff, I could've saved $10,000+. Granted, the college experience of living in the dorms at 17 years old was maaaaaaaaaad fun and something I'll never forget, but damn these loans suck.
I'm going to encourage my kids to not just go to college because that's what everyone else is doing. Go when you know what you'd like to do with your life so that you can streamline your education towards that goal. In the meantime, knock out your basics at a community college and save $$. Or go for a trade program that'll get you in the field making $$ within 2 years, if they're inclined that way.
I just know for me, I went to college because I thought that's what I was supposed to do. I had no clue about anything other than I was looking forward to being away from home so I could party my *** off. And party my *** off I did.
- Jul 31, 2005
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Raises hand. I'm a contractor that serves just about ALL the Nasa centers.
Arlington,VA
- Feb 23, 2006
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I regret ******* up my freshman year and losing my scholarship. Was out of state so the loans taken out by both me and my parents went up. Ended up transferring my junior year and only took out loans for that first year. Got into a scholarship program and had grants that covered everything and still left me with a 1k for a refund. Even had private scholarships that I balled out with. Graduated after 5.5 yrs Dec '12 with $30k+ in loans. Under $30k now, but wish I can pay them off sooner. Graduated with a BS in CS so pay isn't an issue.
This is honestly the best thing to do. I lived at home after I graduated. Making $60k+ salary and only having to pay for phone, food, car insurance, and going out was a blessing. Plus I was 22 when I graduated and almost everyone I know at that age still lives at home or on campus dorm/apartments if they were still in school. Wasn't a thing to still live with parents. Initially wanted to pay it off in 2 years, but I moved out because my work took me to a different state. Going from having ~3k a month after expenses to half of that because of rent was a *****.
I plan on moving back home once I'm vested in my companies 401K. I have to double check if they do partial vesting or if I have to do like a max 3 years to keep anything. I'll live at home for a year and aggressively pay off the debt with the money that would otherwise go to rent. May stay longer to aggressively save for a house down payment.
This is honestly the best thing to do. I lived at home after I graduated. Making $60k+ salary and only having to pay for phone, food, car insurance, and going out was a blessing. Plus I was 22 when I graduated and almost everyone I know at that age still lives at home or on campus dorm/apartments if they were still in school. Wasn't a thing to still live with parents. Initially wanted to pay it off in 2 years, but I moved out because my work took me to a different state. Going from having ~3k a month after expenses to half of that because of rent was a *****.
I plan on moving back home once I'm vested in my companies 401K. I have to double check if they do partial vesting or if I have to do like a max 3 years to keep anything. I'll live at home for a year and aggressively pay off the debt with the money that would otherwise go to rent. May stay longer to aggressively save for a house down payment.
- Feb 23, 2006
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While I understand your reasoning, I'd still rather have my kids go to the 4 year institution solely for the social and network aspect. The things I'd do differently is stress good academics and more activities in high school that lead to opportunities to gain more money from scholarships and grants. Anything else I plan to pay off with a college fund. That's something my parents didn't have for any of their kids. With me and my older sibling they had to take out parents loans. By the time my younger sibling went to school they basically said he'd have to stay in state so it can be cheaper.
Saving $100 x 12 months x 17 years of your child's life before entering college is $20,400. I don't blame them for not doing that simply because family financial situations change and can limit what your budget goes toward. With my knowledge and income I can do that with ease and plan to.
- Apr 1, 2014
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These are very insightful comments. Makes me think long and hard about even applying for grad school all together. I am going to be 30 years old and over half way there academically to achieving my goals : Physical Therapy. Ill be about 33 or 34 when I am finished with some minor to no debt if I get into the least expensive schools. Would you guys pursue?
- Jun 14, 2007
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Not always the case. I went to a private school under grad and received need based aid. I graduated from undergrad with $4,000 in debt. Grad school was public and more expensive for me but my work paid for half ( $50,000 total). I am down to owing $9000 for grad school.
superblytrife
Supporter
- Mar 20, 2002
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I agree with everything you wrote, but unfortunately things didn't work out that way. Life happened and that college fund didn't happen for the older kids, who are only a few years away from being college age. Now our youngest (3-yr old) will be a different story since we're in a much better place financially.
- Apr 4, 2012
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May I ask what you do sir/your company
victor page
Banned
- Jan 14, 2013
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The biggest gaffle of our generation
- Feb 23, 2006
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superblytrife
As I stated in my post, but being in a better situation now than what my my parents were facing at my age makes "things don't work out that way" very minimal. The irony is that superb is dodging his student loans while superblytrife is paying his lol
Undefined
i was doing contract work as a software developer, but in a more IT analyst role now.
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703 hwy
Supporter
- Oct 3, 2007
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$1100 a month in student loans, that's like rent. Hope it all works out man.
- Aug 20, 2003
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If any of you have Sallie Mae Private Loans and you'd like your interest rates dropped read this link and the comments.
http://studentloansherpa.com/rate-sallie-mae/
I was paying 8-9.25% interest on $70K worth of loans. After 4 years of paying the minimum $500-600 my balanced never moved. |I
After interest rate reduction it's now 3% after following directions in that link and I've saved almost $5000. You can't over pay in the program so I'm just waiting to see if they kick me out. I've read about people being in it for as much as four years. Projecting to be from under this debt in the next 5-6 years if I'm lucky and keep stacking.
Lie about your salary. **** them.
and only talk to collections, as the regular reps will just attempt to collect payment because thats how they make bonuses... and they'll only offer you a .25% reduction if you use automatic debit.
To answer OP's question. While I do regret taking out so much for school, I don't regret the opportunities the loans and college have afforded me both socially and professionally over the years. I honestly don't know where I'd be without my degree. I currently work for CNN/NBATV.... without my degree I'd probably still working retail or worst. I look at friends who never got their degree and not to knock their life, I just wouldn't want that for me. Once this debt is gone I'm in the clear.
God willing my children won't have to deal with this because I'll be better than my parents were in saving or preparing them for college... which I fully expect to be upwards to a quarter million by the time they're ready to graduate
http://studentloansherpa.com/rate-sallie-mae/
I was paying 8-9.25% interest on $70K worth of loans. After 4 years of paying the minimum $500-600 my balanced never moved. |I
After interest rate reduction it's now 3% after following directions in that link and I've saved almost $5000. You can't over pay in the program so I'm just waiting to see if they kick me out. I've read about people being in it for as much as four years. Projecting to be from under this debt in the next 5-6 years if I'm lucky and keep stacking.
Lie about your salary. **** them.
and only talk to collections, as the regular reps will just attempt to collect payment because thats how they make bonuses... and they'll only offer you a .25% reduction if you use automatic debit.
To answer OP's question. While I do regret taking out so much for school, I don't regret the opportunities the loans and college have afforded me both socially and professionally over the years. I honestly don't know where I'd be without my degree. I currently work for CNN/NBATV.... without my degree I'd probably still working retail or worst. I look at friends who never got their degree and not to knock their life, I just wouldn't want that for me. Once this debt is gone I'm in the clear.
God willing my children won't have to deal with this because I'll be better than my parents were in saving or preparing them for college... which I fully expect to be upwards to a quarter million by the time they're ready to graduate
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- May 17, 2011
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Dude crying, yet making $75 K. No pity for you here.
- Jul 18, 2012
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reading comprehension bruh, nobodies crying
and in other news...
"As a result, college graduate heads-of-household under 40 with student debt have a median net worth of only $8,700, according to the analysis by the Pew Research Center. That’s a fraction of the $64,700 the same group without college loans is worth."
http://www.latimes.com/business/la-...an-net-worth-of-only-8700-20140514-story.html
- Oct 31, 2002
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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.
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.
- May 31, 2011
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Don't most doctorate programs pay for themselves as long as you teach or do research to some degree?
- Apr 15, 2007
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Not crying man just trying to share my experience to help anyone out that might be thinking about the same thing. I am actually one of the lucky few that has been able to stay afloat through everything. Credit still intact, payments made, no family members effected. I am doing well right now (well by my standards at least). Officially now livin that middle class life
and for perspective...you can have $1billion in sales...but if your COGS is $1.1billion you aren't gonna make it. But you made $1billion in revenue last year....but we netted -100m....
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al audi
Banned
- Jun 18, 2009
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Dude didn't seem like he was crying. 75k means nothing. Life is about debt to income ratio and cash flow.
- Feb 15, 2009
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Acemaster193 you have a story to tell?
- Jul 18, 2012
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JKing - is your $1100 a minimum payment, or are you paying some of the principle off by adding extra?
- Nov 1, 2013
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About to be a sophomore, so far I am $5k in debt, owe the government. Federal loans are all that I will EVER take out, I can't be a slave all my life. Scheduled to take out another 4k this year in subsidized loans, but I might cut the amount down some.
I feel bad for those who had to take out private loans, that ain't no good business.
I feel bad for those who had to take out private loans, that ain't no good business.
- Apr 15, 2007
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that is my minimum in the interest reduction plan. It does hit principle.
