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Student Loans - How Much DO / DID you have?

MikeyIs4Dcats

MikeyIs4Dcats

Lifer
A friend and I were talking last night about the trap college students often fall in where they max out all their student loans to live on them and pay for college which adds up to some hefty amounts to pay back.

How much did you take out in student loans to get your undergraduate degree? Did you start paying any back before graduation? Did you take out more to live on than you needed to pay for school?
 
I left college almost 3 years ago with a little over 10K in college debt. I paid it off in 2 years though. I would definitely limit the debt you get from college...as I know many people who get very depressed from racking up 40K+ and then getting out of college and not being able to get a decent job for a long time.
 
I could actually go through college and graduate with no debt but i decided to take out some loans.
Even without the loans I get extra $1000+ transferred into my bank after everything is paid. I take the loans out to help pay for my older sister's tuition and also some of our living expenses
 
I graduated in the spring of 2002 with almost $30k in debt. Which isn't bad considering that wouldn't cover one year at my school. I think I'm down to about $25k now. I'm waiting until my truck's paid off before I really start hammering on it.
 
$16,000. I used them entirely to pay tuition, not to live on. I worked part-time for spending money. It's a lot easier to waste money when you're not working for it, that's why so many people fall into that trap.
 
About $23K for four years of undergrad and seven year of grad school. I lived comfortably through college, but didn't max out on the loans I was offerred.

I'll start paying them back next month. It's like a 3.25% interest rate. I've been advised by many "adults" who paid off their loans quickly to not pay mine off quickly. They suggest saving up to purchase a house or investing the money elsewhere rather than rushing to pay off the loans.

To each his own.
 
Originally posted by: Rumpltzer
About $23K for four years of undergrad and seven year of grad school. I lived comfortably through college, but didn't max out on the loans I was offerred.

I'll start paying them back next month. It's like a 3.25% interest rate. I've been advised by many "adults" who paid off their loans quickly to not pay mine off quickly. They suggest saving up to purchase a house or investing the money elsewhere rather than rushing to pay off the loans.

To each his own.
Click to expand...

Spend $23k paying back a low rate loan, then to take out >$23k from a higher rate loan to pay for a house.
Or: save $23k of a higher rate loan by saving it up as cash, but still having to to pay off from a lower rate loan...
 
$0 for college (scholarships/grants/work study paid for everything), $50K principal in law school. I used the loans to pay for rent and living expenses as well
 
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