Does anyone else owe a TON in student loans?

[Anonymous]

That's great OP, congrats! I finished paying off my loans and my parents loan (total ~$40k) last year. Such a relief to have it off my shoulders!

Although it was stressful and limited my choices as a young adult, I've learned a lot from the experience. Started a college fund for my kids as soon as they were born and contribute regularly. I also want them to take a financial planning course when old enough. I was pretty ignorant as a teenager and looking back probably should have done things differently. My sister has more debt than I did but put a good dent in her debt by doing Teach for America for a couple years.

[Anonymous]

Congrats, OP! I started with $125 and am down to 8k. I'm single and have been scrimping for 14 years. I'm very excited to pay it off this year. I will be posting when I do!!

[Anonymous]

I have 18k in student loans from a HYP in the shittiest profession ever: architecture. Because I've made $$$ in an unrelated field, I could easily pay them off, but every time the fancy institution sends me a letter asking for money, I first step on it. Then I put it in the trash can.

A lot of my seemingly fancy peers are really up shit creek due to student loans. Schools should not lend that kind of money to people going into the arts or architecture.

[Anonymous]

Anonymous wrote:I have 18k in student loans from a HYP in the shittiest profession ever: architecture. Because I've made $$$ in an unrelated field, I could easily pay them off, but every time the fancy institution sends me a letter asking for money, I first step on it. Then I put it in the trash can.

A lot of my seemingly fancy peers are really up shit creek due to student loans. Schools should not lend that kind of money to people going into the arts or architecture.

I had 120k from an ivy in architecture as well. Many of my classmates no longer work in the field. The ones who still do are one of two things: on their way to becoming famous architects, (around 10/of a class of 60), or are literally the opposite- drowning in debt at a ho-hum firm with a very compromised family life. They buy tear downs and do the work themselves, literally, as their only means of buying a property. And hey are damn good cooks!!! They have to be!

I am doing fine, prospects are good at this point since I have made it to close to the 20 yr point, returns start to acrue around then. The profession is a slog. I paid off my loans two yrs ago. Still have about 4k that is low interest and on autodeduct. Need to work on savings and investments.

But at least I am not a social worker who took out crazy loans..... Plenty of people don't even like what they do! At least architects do. I love what I do.... Worth something in the end.

[Anonymous]

Anonymous wrote:I have 18k in student loans from a HYP in the shittiest profession ever: architecture. Because I've made $$$ in an unrelated field, I could easily pay them off, but every time the fancy institution sends me a letter asking for money, I first step on it. Then I put it in the trash can.

A lot of my seemingly fancy peers are really up shit creek due to student loans. Schools should not lend that kind of money to people going into the arts or architecture.

18K is really not that bad. In fact, that amount sounds very reasonable to me. I'm surprised it's such a burden for you...I would love to have a degree in architecture.

[Anonymous]

Anonymous wrote:That's great OP, congrats! I finished paying off my loans and my parents loan (total ~$40k) last year. Such a relief to have it off my shoulders!

Although it was stressful and limited my choices as a young adult, I've learned a lot from the experience. Started a college fund for my kids as soon as they were born and contribute regularly. I also want them to take a financial planning course when old enough. I was pretty ignorant as a teenager and looking back probably should have done things differently. My sister has more debt than I did but put a good dent in her debt by doing Teach for America for a couple years.

Congratulations, you are doing great!

[Anonymous]

I had close to 100k in student loans and was only paying the interest for several years. I had the good fortune to buy a condo in DC in 2001 and sell it 4 years later for about 250k profit. First thing I did was write a check to Sallie Mae for the balance of my loan. Otherwise, I would likely still be paying it back.

[Anonymous]

80k in loans, but I just received my father's life insurance check and will be paying them in their entirety. I graduate in May with my Masters.

[Anonymous]

Down to 37K