What's a 25,000 student loan debt these days ?

[JuliusLothar]

I mean I didn't go to Medical school, a Law school, or an Ivy League school so 25 grand in debt is about the price of a new Hyundai! Is everyone

on these forums like 100,000 grand in debt from college?  If thats the case this country is DONE ..... I feel as though I bought the whole bill of goods

just with my 25 grand education fiasco.....LOL....America, wow, what a country....education is such big business now its a big LIE !! But my God !

80, 90, 100 thousand dollars for a job ????......Somebody's hoodwinking somebody here......SHEEEEEEEESSSSEEEEEEE!!!!!!!!!!

[Anonymous]

I have 50k in student loans.

I make over $80k a year because of my education.  I am happy and only 27

Message Edited by SSTUDVII on 03-11-2010 01:22 PM

[JuliusLothar]

That's great for you Dave!...I'm glad it paid off for you, but you're the exception not the rule.

[Anonymous]

I borrowed 30k total and it ballooned to 40k due to defaulting.

[JuliusLothar]

don't worry jay, were college graduates and like AIG we're too big to fail.....bailout comin soon.....

[Anonymous]

i have $100K+ in student loan because i went to med school.  i'm opting to do some public service work (cause i'm so filled with kindness, but also interested in finding ways to reduce my loan if i can) before i take on a more lucrative position. 

i'd like to think that people with as much loan as myself did so with the future income potential in mind.  taking on $100K+ in student loan to make max $40K a year is unfortunate.

[tianapb725]

I have close $45K in student loan debt.  I will make $48K this year.  I'm 26 years old.  I actually don't do anything in my field, but my current employer required a degree before even getting a job with them, so to me it was well worth it.  Sure, it's annoying to pay it back, but I feel that I spent $10K a year on college was well worth it (not only financially, but life lessons and lifelong friendships).

[laz98]

i currently have $40-50K in student loan debt.  i am actually still a student, & probably have no job prospects after i graduate, unfortunately!  but it is what it is.

[Anonymous]

I am currently paying off $65,000 in student loans but I have a $130,000 education. Not working in my field, decided to work for myself! Hopefully my leap will pan out!

[sapling]

I have $93k in debt, am 27 years old, and earn ~$75k/year in an area with low cost of living, so it's not too bad. Grad school was 80% of the loans, and I graduated 3 years ago.

I admit that as a student I had no idea what my expected income would be in my field (and in fact estimated it would be more like $35k.. shows how little research I did.) So I got very lucky.

I am on the Income-Based Repayment program primarily so if I lose my job I can get 'unlimited' forbearance - I still make the 10-year payment amounts toward the principal. I highly recommend IBR if your student loans are a large chunk of your income. In my opinion there's no downside because you can still pay them off just as quickly, but the safety net is there to automatically lower payments if your income decreases.