Loans coming due, job or no job | The Columbus Dispatch

Balzar Riching wrote:

You signed for the loan, now pay it back, even if you have to take a job "beneath yourself".
If you don't like the unemployment situation, stop voting for the liars that have sold out our citizens for cheap labor overseas, stop buying everything made in China, and demand that our government stops illegal immigration and deports the job stealers.

Seven years of college down the drain....

1. Let's not pretend that $147 a month is a lot. Between my wife and I we pay about a grand, for two undergrad and two advanced degrees.

2. College doesn't pay off in the short term. Nobody should expect that. It's when you're making a decent salary and you've paid off those loans that it all becomes worth it.

3. Let's not pretend that a college education isn't worth the investment. I know, Knucklehead Buckeye, that we all want to live in a world where people are judged based on how smart they are and the education that they got from the public library for $1.57 in late fees....but unfortunately we're forced to live in reality and operate within the confines of the paradigm that is presented. Big name schools with big name degrees lead to big name jobs with big salaries.(In a "nut"shell)

4. Who goes to Otterbein and spends that kind of cash for a broadcasting degree? I think it's time to find a job in retail and call it a day.

I graduated in 1985 with about $15,000 in Student loans at the then going rate of 9%(just figure what that would be in today's dollars). I didn't find a job in my chosen field for a long time. I did however work, waiting tables and whatever else I could find to make my payments.

These graduates are not facing anything different than previous graduates.

Aren't they the ones who put Obama in office, maybe they can look to him to pay their loans off, not mommy and daddy. Welcome to the real world........

Unbelievable wrote:

1. Let's not pretend that $147 a month is a lot. Between my wife and I we pay about a grand, for two undergrad and two advanced degrees.
2. College doesn't pay off in the short term. Nobody should expect that. It's when you're making a decent salary and you've paid off those loans that it all becomes worth it.
3. Let's not pretend that a college education isn't worth the investment. I know, Knucklehead Buckeye, that we all want to live in a world where people are judged based on how smart they are and the education that they got from the public library for $1.57 in late fees....but unfortunately we're forced to live in reality and operate within the confines of the paradigm that is presented. Big name schools with big name degrees lead to big name jobs with big salaries.(In a "nut"shell)
4. Who goes to Otterbein and spends that kind of cash for a broadcasting degree? I think it's time to find a job in retail and call it a day.

Ha ha...I went to Otterbein and got a Broadcasting degree and I completely agree with you. I ended up having to get a second degree in something else..thus raising my student loans again.

The only advice I have is work with your lender...most of the time they would rather work with you than see it go into default.

It is hard to get a part time job right now, I understand, because everyone is taking e everything they can. But try to do something, even if it is "beneath you".

Also, if you want to get a broadcasting degree..do yourself a favor and get a business or some other degree to go along with it.

Bdozer wrote:

Aren't they the ones who put Obama in office, maybe they can look to him to pay their loans off, not mommy and daddy. Welcome to the real world........

Exactly! Use $tinkulu$ money! Hopey dopey, it's Carterbama time!

I had to laugh when I read that this person owes $147/month on his loans. My husband and I pay nearly $1500/month in student loan payments. He spent 2 years at a community college before transferring to Baldwin-Wallace in Cleveland, and I spent 4 years at the same college before getting my MBA.
Our student loans cost us more per month than our mortgage ($1000). The error, in my opinion, was not whether or not we went to college. The problem is that we overbought our college experience. I earned my MBA from Penn State for the same amount of money that I spent on ONE year at Baldwin-Wallace. If I had to do it over again, I would go to a public, state-run college or university. Turns out, the education is the same; most of the professors at BW are also professors at nearby state institutions...

This student loan need's to be changed trhu Washington. The economy and now and where the country is headed.College student's with student loans will be broke the rest of there live's.Forget the american dream of owning a home.Your new home you just bought is called the federal gov't ! The interest rate's are ubelievable!

They should have interviewed someone with a more realistic loan situation. I'm out of school one year....working as a consultant because my industry isn't hiring....500$ a month in student loans, mostly private so they can not be deferred, for a 4 year OSU education. This situation is more the norm for recent grads. Its called growing up. As a person in their young 20s, you just have to grow up and head into the grown up work world with your new degree and face life. Not everyone has the luxury of such financially supportive parents. It will make you a stronger person and you will learn early good finance balancing habits.

Maybe you shouldn't live downtown if you can't afford 147 in student loans...

StanTheMan wrote:

<quoted text>
How about that needless multi-trillion dollar war that Bush started? And the bank and auto bailouts that Bush started? Should I go on or is that enough for you?

The peace loving muslims who flew those planes on 9/11 started the war dipwad. And another basic civics lesson, Congress controls spending. Typical non thinking fool

StanTheMan wrote:

<quoted text>
How about that needless multi-trillion dollar war that Bush started? And the bank and auto bailouts that Bush started? Should I go on or is that enough for you?

Multi-trillion? I guess that after following and supporting Obama you are used to hearing about trillion dollar deficits and spend. But no, both the war in Iraq and Afghanistan are up to probably one trillion total, if not less. This is in all 8 years since the first one started. But Obama, in 9 monhts, managed to increase our deficit to $1.4 trillion. That is pretty impressive.

I went to The Ohio State University for about five years, and to another private college for my freshman year. I graduated with a double major and minor. I unfortunately accumulated about 130k in debt over the course of my undergraduate career. I am not a slacker. I am not entitled. I have been working jobs actual jobs since I was 14.5 years old. I worked 40-60 hours a week, every week while in college. This breaks down to about 21,000.00 a year to live off of. Take out tuition costs of $8,000 a year and you're looking at living off of $13,000 a year. Unfortunately most of the students, or the ones with high GPAs, were the ones that did not have to worry about loans, or working a job, or struggling to get enough sleep. Lower Middle class families are watching their teenagers college dreams slip away as they are looking at serious sacrifice, or dooming their child with outrageous debt the rest of their life. I was fortunate enough to land a federal job, but even so, will have loans that come to $1,000.00 a month. When I only bring home $1,500 a month after taxes,insurance,and retirement; that only leaves me $500.00 for rent,food,utilities,car insurance, and so on. How is it even possible to live on that much? I could live in a ghetto area of Columbus, but even the people I'm living near would be living better than me because of subsidized gas,food,housing,electricity,t ransportation, and so on so forth. My higher income is an illusion. Thank god I'm married, or life would be terrible.

Up hill both ways wrote:

<quoted text>
You do sound like a parasite.

No, he sounds like a more intelligent person than you do. If by living with his parents so he can go to school makes him a parasite, you're an idiot. If he's only 18, how can he support himself and go to college. Not every child leaves the household when they turn 18. He didn't even say what his age was and you call him a parasite. A parasite is one who goes out in the big world before they're truly ready, has no job and no plans on how to support themselves, has a few kids, lives off government programs and then decides they want to go to college at the taxpayers expense. I, for one, am sick of paying for people like this to go to college. I know of a handfull of people who have done this and then flunked out and went back and still got their education for free. My son has worked since he was 16 and is going to college now and is paying his way to go to college (and yes his father and I help too because that's what parents do), working day and evening shifts at his job and works every Friday and Saturday. He lives at home with us because he is paying for his schooling, not living somewhere where the government pays for his housing and education. He didn't go out and knock up some girl and take on debt like the ones I have seen. He's very level headed and if living with us makes him a parasite, I'll take this parasite over a lazy freeloader anyday!

Parasite Government wrote:

College is another government funded racket - as stated above, it is a necessary investment for a lot of people, but the cost has been inflated beyond any reasonable level.
I lived at home with my parents, worked during the day, and went to school at night. I graduated with $1,200 of debt as an undergrad, and graduated debt-free when I got my grad degree.
Of course now, little Johnny thinks he is entitled to the college "experience". The education racket encourages that thinking, takes their money, and then kicks them out with no real job skills.

Bingo! Are you paying attention Gordon?

Fed Up With Loans wrote:

I had to laugh when I read that this person owes $147/month on his loans. My husband and I pay nearly $1500/month in student loan payments. He spent 2 years at a community college before transferring to Baldwin-Wallace in Cleveland, and I spent 4 years at the same college before getting my MBA.
Our student loans cost us more per month than our mortgage ($1000). The error, in my opinion, was not whether or not we went to college. The problem is that we overbought our college experience. I earned my MBA from Penn State for the same amount of money that I spent on ONE year at Baldwin-Wallace. If I had to do it over again, I would go to a public, state-run college or university. Turns out, the education is the same; most of the professors at BW are also professors at nearby state institutions...

What do you do now? What is you and your husband's combined income? You probably got a quality education at Baldwin-Wallance than if you were to go to a state school.

Colleges and Universities are run like businesses. They will continue to raise tuition as long as students continue to buy. Most lack any type of fiscal discipline, with the cost of new buildings and tenured professors running unchecked. Once more stories like this become prevalent ... and they will as unemployment remains high for the next couple of years ... students will wise up and start value shopping their educations. Unfortunately it's too late for the ones that started 4 or 5 years ago when times were good. I expect to see a number of old school liberal arts colleges forced to merge or go under.

jimmy agler wrote:

<quoted text>don't waste your breath.according to him everything was just peachy keen and great untill 2006

Gold hit a record high today ( that means the dollar is worth less today on its way to being worthless. ie Wiemar republic) bozo the Fool is destroying America hyperinflation is coming. and the stock market is going through the " Dead Cat Bounce" before depression hits. Hopey Dopey from the shout out idiot

I agree with Jane. I owe $100,000 after scholarship and before interest added on top. I just found out that I will have to be paying around $700 a month for a large chunk of my life. That's more than I make at my current job. If every one who has to pay $100 a month is freaking out this much, I should be having a heart attack!

Declare bamkruptcy, underwithhold on your job so you pay on april 15th. IE hose the taxpayers, its the democratic way

Recent Grad wrote:

I went to The Ohio State University for about five years, and to another private college for my freshman year. I graduated with a double major and minor. I unfortunately accumulated about 130k in debt over the course of my undergraduate career.

Please tell me that you are kidding. How in the world did you get $130K in debt going to OSU for five years and a private college for one year? How much did you borrow? Are you counting living expenses, too?