Does anyone else owe a TON in student loans?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| DH and I owe a LOT in student loans - almost $400,000. Anyone else out there also owe a huge amount? I constantly see posts on how much people have saved for retirement or in case of emergency, and we just don't have that. Are we the only ones who owe this much? |
Anonymous
| I have $16,000, I suppose that is not a ton compared to yours but it is a ton to me. Fed Loan though so I'm not too worried about it. |
Anonymous
|
You make me feel better about my 10k student loan. 400k is not a ton, it's a SHIT TON.
How long will that take you to pay off? It's more than my house loan. Damn. |
Anonymous
| Doctors? |
Anonymous
| 300k here. I have nightmares about it! It is the same amount as our home loan. We hope to pay for it during 10 years and then have it forgiven. |
Anonymous
| I think my DH's is like 200K from law school (he graduated recently). Thank God, his fed job is helping with a loan repayment benefit and the loan are income based. |
Anonymous
| About $160,000 between the two of us. Ugh. We'll never be able to buy a house in this area. We have no emergency funds and live paycheck to paycheck. But at least we both have stable jobs and are healthy, right? |
Anonymous
|
I have 200K (we would have 400K if DH went to law school too ha ha). I have a couple friends with 400K though. The majority of people I know with high loans are employed by the feds and taking advantage of the public service forgiveness act and income based repayment. For example, my loan payment (on 200K) is only $287 (down from close to 2K without it). My loans will be forgiven in their entirety in 8 more years if I continue to work for the government (or any other non-profit organization). Becuase of this we are able to save quite well for retirement, but without it I would be scewed.
My husband and I do have to file our taxes married but filing separate (or single? whatever it is) in order to take advantage, which has its own consequences (no Roth IRA for us). But so far it has worked out well! |
Anonymous
OP here. I have nightmares about it too! Sometimes I can't get to sleep because I feel so stressed about them. We're trying to pay them down, higher interest rate loans first. Neither one of us works for the govt. To answer other PP - one Dr. and one lawyer. |
Anonymous
| 40k and it's SUCH a weight on my shoulders. Will be so excited the day they are paid off. |
Anonymous
Depending on how much the Dr makes he may qualify for the public service forginess. Non profit hospitals count . . . It doesn't just have to be a government job. |
Anonymous
| $80K in federal loans here, started at more than twice that (including private loans). DH and I never made more than $160K. But we've stopped paying extra because of our daycare bills and rock-bottom interest rates on remaining portion. |
Anonymous
|
Gee, I can't begin to tell you how happy it makes me to hear all of you scamming your way out of repaying your school debts. As a fellow taxpayer, I say thank you. Thank you very much.
This loan forgiveness deal should be canned. I think I'll suggest it to the committee looking to balance the budget. Sounds like it could make a sizable dent. |
Anonymous
| Have to say I agree with you on the loan forgiveness. I think the tone of your post is obnoxious and I don't see it as a scam, but I think it's a bit ridiculous that all of these people are not going to be paying back their loans. |
Anonymous
What does this even mean? If people are using sanctioned loan programs to get debt forgiveness, how is that even scamming? 
Signed, I don't have loans, but I also don't hate on those who do |