Those who have experience with student loans

1,095
18
Joined May 26, 2007
I'm a second year university student and to me student loans were never an option, simply because i didn't want to get out of school knowing i'm in debt. So last summer i worked 3 jobs, don't think i want to do that this summer, for those of you with experience with student loans, what was it like to pay everything back after graduating?
Personally i think it all adds up, so instead of having to pay $12,000 + interest (it's about $6000 a year for the next 2 years) by the time i'm out, i would rather work hard now and have a more financial freedom later.

Edit: Only in school for 2 more years, so it's $12,000
 
104,333
54,488
Joined Oct 13, 2001
I paid off my loans WAY before I was supposed to.

Once I got out of school, I basically consolidated ALL of my loans and paid like $1500 each month for the next few months until they were paid off in full. I was determined to not let all of that interest get the best of me.

Is what I used - http://www.aessuccess.org/
 
1,095
18
Joined May 26, 2007
I'm in Canada so that site won't help


Were you still comfortable while paying for your loans though?

I make $750 a paycheck, $1500 a month. Versus $3,000+ after i graduate

I'm slowly thinking it's not worth it seeing how i could be making more in the future
 
104,333
54,488
Joined Oct 13, 2001
Yea I was still comfortable. Getting out of debt is more important than

I live WAY below my means though, so I might not be the best example. I essentially only buy food and gas (besides bills).

So pay MORE now than letting the interest get you.
 
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