Student loan debt, a big killer

United States
February 15, 2011 8:57pm CST
A regular customer to the restaurant I work at told me that he has huge student loan debt. Although he finished all the courses on Chiropractic, what he earning now just wasn't enough to pay back his student loan a couple years ago. That is the big killer here. People just won't realize how much those loan might hurt them even they finish all the courses, and was it worth is the real question here. His debt was total amounted to $150 grands. I guess he gotta work more than 30 years to pay it back by given current economy atmosphere. What do you think of it?
1 person likes this
10 responses
@BeetleBam (171)
• United States
16 Feb 11
I think it's terrible, which is why i'm glad that I'm finishing college with no debt. It is a shame people have to go to college to get a job that pays well, but then have to use the money from that job to pay off their college debt. this is why grants and scholarships trump loans.
• United States
16 Feb 11
Sucks, that is why. Well, I just can't imagine how long it will take him to get rid of that loan. Wow, it seems like a very long time.
@cream97 (29166)
• United States
4 Mar 11
Student loans do nothing but keep and put a person in debt. I know all about having one. It is so hard to pay this type of debt off, especially when you have not fully went through the classes. I have a student loan debt that I have not paid off yet. They charged me for an entire term. I only attended college for one semester. So, I have to pay back the full term as if I was their the whole year. This is one of the things that I have to get straightened out very soon.. Ughhh..
@baderbig (32)
• United States
20 Feb 11
An education is an investment in yourself that nobody can take away from you
@piya84 (2591)
• India
17 Feb 11
150 grands means how much?anyway 30 years is probably huge time.I dont think so it worth to pursue such a corse when you are not going to get good job afterwards.
@asyria51 (2870)
• United States
17 Feb 11
My husband and I have been out of college for almost 10 years and still have several thousands of dollars in loans to pay off. Then we added the mortgage to that. Unless you are in the top of your undergrad class and can get the scholarships, it is hard to go into your profession with the price of a mortgage in student loans.
• United States
17 Feb 11
I can sympathize because I am a graduate student who has a lot of debt. Unfortunately when one is in graduate school there are no grants and the only way to pay for school is loans. I have not been able to find work since I graduated college and therefore I had a choice either sit at home and watch tv all day or attend an online university and pursue a Masters Degree.
@Ichiru101 (285)
• United States
16 Feb 11
My uncle went to medical school and he had to pay back around that amount. The thing is even with students looking for scholar ships, it is rare to see full rides now a days. With that said only a certain amount of people can actually have them. So for those who have to pay back I truly feel sorry for them. Thats just how our education system works. I sometimes wish it was like in countries like france where you dont need to pay. But if that really was the case I bet the students wouldnt treasure it as much.
@HarryS88 (33)
• Indonesia
16 Feb 11
I think if he had wished to continue his education, he would have found a good company to borrow some money, so he could finish his education. At this condition, he has to sign a work contract when he finishes his college, he can work to the company. He will be bound to the company, but he can finance and keep studying without having to get worried about his tuition. Having graduated from the college, he can apply his skills to the company.
@FrugalMommy (1447)
• United States
16 Feb 11
I can't imagine having that much debt from student loans. I am looking at getting a loan to help me go back to school. I have already completed my FAFSA for the 2010-2011 school year so I can start taking classes at the local community college in June. I will be getting a Pell grant that should cover my tuition and the books I need. I may be able to stretch it enough to buy a lens for the Nikon camera I found at the thrift shop for $2.99 so I can take my photography class but I'm not counting on it. I will be applying for scholarships, too, and then I will try to get a loan to help cover the remaining expenses and housing expenses while I am in school. I will probably qualify for a subsidized Stafford loan which would be nice because payments would be deferred as long as I'm enrolled in at least 6 credit hours. I want to begin repaying as soon as I can to get the loan paid off. I couldn't imagine carrying a student loan for 30 years!
@advokatku (4037)
• Indonesia
16 Feb 11
in Indonesia, the practice of school financing through borrowing money is usually done by large corporations. Generally, as one of the conditions is the recipient of funds will be tied to employment with the company for several years until the amount borrowed is repaid. The method of payment is through the mechanism of cutting salaries by the amount of 20-30% of gross salary. Viewed from the side of the company, it is certainly beneficial because the company will get / have employees who have good quality. In terms of employees, it might hurt, but not too disadvantageous, because the employees can still work even may also post will go up and he can mempratekkan knowledge held by it so he can maximize his ability so that someday, surely he would be a lot of workers Other companies sought