How long did it take you to pay off your student loans?

[oiprocs]

If you can, put down how much you had to pay off. If you're still paying them off, anticipate when you will finish and choose that time frame.

I'm still in school and not looking forward to it.

 

[FoBoT]

what are you using for the start/stop date?

i got my first SL in summer 1985
i made my last payment in 2004 , i think

 

[Ns1]

I'm lookin at 10 years.

 

[MegaVovaN]

Parents pay for my community college...

 

[kalrith]

I will probably take the full 30 years to pay off my and my wife's student loans (we consolidated). The reason is because of the low interest rate. After 4 years of on-time payments (not a problem with auto-debit from the checking account), our interest rates will drop to 2.5%. It would be foolish to pay extra on them when our other loans have a higher interest rate. Even if they were our only loans, it would be better in the long run to invest money and get a higher return than 2.5% and still make the minimum payments on the student loans. I'll only pay them off early if I need to be debt-free for some reason.

 

[MegaVovaN]

Originally posted by: FoBoT
what are you using for the start/stop date?

i got my first SL in summer 1985
i made my last payment in 2004 , i think

19 years...your sig is quite fitting:

Payback Is A Mutha

Also, college is to get you in debt.

 

[Nithin]

I did my undergrad in India. It's about 100 USD per semester.

Grad school at Texas A&M and I had an assistantship. So no loans.

 

[mrrman]

no loans at all

 

[Casawi]

Still very good investment for me.

 

[Randum]

80k left and paying sht with my job...my advice. Go to a state school.

 

[D1gger]

I came out owing ~ $10,000 and paid it off in about 2 1/2 years. My future wife and I made it top priority and lived very frugally for that time to pay it off quickly.

 

[Slew Foot]

I owed about 30K but I consolidated at a ridiculous interest rate a few years back, 1.8% or something. So ill take the entire 20 years to pay it back.

 

[hanoverphist]

ive been paying for about 5 years, another 13.87 to go at the payment im making. i really dont want to pay the 854 a month they want me to pay, so i make low low payments that pay a bit o principal and all the fees/ charges. once my kids are a bit older and i have some more cash on hand ill up what i pay a month and get that down a bit faster.

 

[Gunslinger08]

I think I'm set up for a 14 year repayment schedule. No reason to pay it off sooner with such a low interest rate. I make more money from my savings account.

 

[meltdown75]

Graduated in '99

I'll be done paying them in less than 2 years.

10 years pretty much

 

[randomlinh]

10-15 years. I have a private student loan unfortunately. That's killing me right now.

 

[MikeyLSU]

I'm going to take the full 30 years unless I just have lots of extra money.

But at such a low rate it would be stupid to pay it off like everyone else said. I have a car and house note that are far more important to pay off(which I do with any extra money).

 

[Xavier434]

I started off with about 25K after I graduated which I am told is below average *shrug* and I also had some remaining credit card debt from college which summed to be about 4K. I expect to pay everything off between 8-10 years total since graduating.

 

[LS20]

30k,
some ridiculous 6.85% rate, but my generous parents paid off the entire balance so i owe them the sum on a 0% account
that doesnt mean ill be paying it off more slowly, but rather faster... shooting for 3 years

 

[FeuerFrei]

I think it took about 5 years to pay off my paltry $3,300 worth of school loans. But I really can't recall the exact year I paid in full. I was doing $50/month.