I seem to have 3 payments coming up
Jan 22
Feb 14
April 04
Now I dnt mind paying them back , But the interest rates are way High . I dn’t know what was going on , because i don’t know how to put this , but I was going thru a rough time during college. I had no friends , no social life and isolated. I was going through depression . Good thing I found out a year ago what had happened to me , So now I am trying to get my life straight starting with my credit/a job/ moving out and finally being debt free and following my intuitions.
The student loan thing doesn’t seem to be helping much in my “being free” idea , because I called every one of these corporations ( Citi bank , Sallie Mae , and my federal loan consolidation company )
On average I would have to pay for 15-25 years before all this debt is being paid off. Do you have a similar situation or is mine really unique . I am trying to get a clearer picture because
most of my papers and applications were filled out by my parents_
and brother , which I hated , because they controlled my life , I was clueless of what was going on which now I am trying to get out of..
Your situation is anything but unique. I’m paying on my daughter’s student loan right now until she finishes school. I’m only paying the interest on it…and even that is costing me 220.00/a month. When she graduates, she’ll take over the payments, which will probably double because the interest will be included from that point on. Her boyfriend is paying off $300,000 in student loans because he went to law school….I don’t even want to tell you how much some of doctors I work with had to pay back…with interest!!
It’s a sad, unfortunate fact of life if you want a college education.
Left by Working Class Hero on February 19th, 2010
That sounds pretty average. You didn’t mention how much you owe all together, but I’m assuming it was a pretty good amount. Usually they try to make the monthly payments low enough that a person with a reasonable job can afford to pay every month…you can try paying more than the suggested amount. It won’t quicken the time by a huge amount…but it will help.
Left by rockergirl20032003 on February 20th, 2010