Student Debt...How much and how long to pay off?

United States
February 10, 2009 8:51am CST
I am looking at how much debt I currently have after 4 years of college and a couple years later. It is scary. After 2 years of payments I still have 30000 USD to pay back and it will take me another 8 years. How much did you have? How long did it take you to pay off?
1 person likes this
5 responses
• United States
10 Feb 09
Well I guess I am lucky but I have only about $5,000 through my junior year. But I am going to be teacher so I won't be earning mcuh anyway. Just curious, are those loans subsidized or are they accuring interesting now while you're in school?
• United States
11 Feb 09
They are subsidized, thank god!
@eden32 (3973)
• United States
10 Feb 09
I kept putting off starting to repay, and my balance is now more than double the original loan amount. It's been 15 years since I finished school. I made some very bad financial decisions when I was younger, and I'll be paying for it for the next ten years or so.
1 person likes this
• United States
10 Feb 09
Yikes, well, best of luck to you for paying it off! Hopefully mylot will help :-)
@LouieWpHs04 (4554)
• United States
11 Feb 09
I'm going to a community college so it'll never take me any time to pay it off. I'll have it paid off semester after semester as it's way cheaper to go to a community college then a real college, and you can get similar jobs anyways.. so what's the point of shelling out all that extra money to go to a real college.. other then maybe a more of a "college experience" feel? No loans, no anything. Small-time pay. For some majors I suppose going to a real college might be better, but for a lot.. it's more about networking with others & your job-experience in the job-world and less about your degree. Not saying degree's don't help, though!
@baileycows (3665)
• United States
10 Feb 09
Ugh I don't even really want to think about how much I have built up. I figure I will pay on them till I die.
1 person likes this
@royalt85 (16)
• United States
12 Feb 09
Well I already have too much to pay off. On top of that I am in grad/med school pursuing a joint degree. Yay for endless debt! I figure you can never get out of debt no matter how hard you try. If you pay off your loans then you get a car, pay off your car, then you get a house, pay off your house, time for another car. Get the point? Not to mention you need credit to get most of these things. And how do you get credit? Use credit cards (responsibly of course). What's the point in getting a job and making money? To pay off your debt! It's a never ending cycle.