innova All American 677 Posts user info edit post |
What are your experiences with paying them back after college?
I'd post this in Old School, but they won't let me even though I'm old enough. 12/23/2005 1:37:38 AM |
Woodfoot All American 60354 Posts user info edit post |
what i like to do, is every month i think about something in college that makes the $250 i'm sending to CFI worth it
and i post it on my blog
last month it was a steak party that i threw when i got a gift certificate to Omahasteaks.com
get the draft setup
oh and if you dn't do a draft; don't send them extra money for some reason they consider whatever you send in as a payment to be what you can send every month... so they just jack your next month's payment up to whatever you send in... wierd... 12/23/2005 2:20:51 AM |
JonHGuth Suspended 39171 Posts user info edit post |
i pay cash for tuition 12/23/2005 2:26:19 AM |
Woodfoot All American 60354 Posts user info edit post |
dolla dolla 12/23/2005 2:47:19 AM |
vinylbandit All American 48079 Posts user info edit post |
billzyall 12/23/2005 3:46:07 AM |
FeverRed All American 8499 Posts user info edit post |
Well, I pay the bare minimum to my student loans, because for the longest time that really was the best way for me to go. And it still is. I don't have as much as most people seem to (under 12 grand altogether), but it's a monthly stab in the bank account, since I feel like college was a waste of time. 12/23/2005 5:14:49 AM |
innova All American 677 Posts user info edit post |
How long do they give you to pay them off? Can't you dset it up so that they just take your tax return every year and you don't have to make monthly payments? 12/23/2005 10:38:59 AM |
ssjamind All American 30098 Posts user info edit post |
i consolidated just before interest rates rose, and they started sending payment notices 6 months after i graduated. i pay about $215/month. 12/23/2005 11:45:21 AM |
OmarBadu zidik 25069 Posts user info edit post |
do people feel cheated that their parents weren't smart enough to save for their children's college fund? we had 5 kids all paid for 12/23/2005 11:48:22 AM |
BobbyDigital Thots and Prayers 41777 Posts user info edit post |
I just pay the minimum, the interest is lower than either of my car payments, so when those are paid off, i'll probably finish off the student loans. 12/23/2005 11:50:41 AM |
ssjamind All American 30098 Posts user info edit post |
yea, student loans are free money for me. im locked in at a 2.82% apr, and earn 5% through my credit union. i'm paying them back as slow as possible. 12/23/2005 11:55:11 AM |
Perlith All American 7620 Posts user info edit post |
^^^ Yes and no. No because how my parents decide to spend their own money is their prerogative. Yes because I know of things that could have helped pay a bit more.
innova, you should have received something via email to the effect of:
Quote : | "You are only expected to attend the above Exit Loan Counseling session or complete the Exit Loan Counseling session on the web to satisfy the exit counseling requirement. The campus session should last no longer than forty (40) minutes (on-line exit counseling time may be shorter) and will include discussion of average indebtedness, monthly repayment, repayment options and ways to save money during repayment." |
I did mine over the web and consolidated through CFNC. $118/month. The CFNC application itself is online ... you'll need your DOE PIN though if you want to do it that way. Give CFNC (or whoever it is) some time to process the application.
Also, unless you have a full-time job and a planned budget, don't do the automatic draft. Last thing you need to have money automatically withdrawn and you not realize it/plan for it. The incentive for the automatic draft is they will lower your interest percentage rate over time for being a "good" repayer.
[Edited on December 23, 2005 at 12:02 PM. Reason : .]12/23/2005 12:01:49 PM |
Woodfoot All American 60354 Posts user info edit post |
Quote : | "how long do they give you to pay them off?" | basically as long as you need
Quote : | "Also, unless you have a full-time job and a planned budget, don't do the automatic draft. " | you can tell them to cut it off when you need them to
and i guess i was just assuming that college graduates can find a full time job in 6 months, but thats just me...
even if its not the job you want12/23/2005 12:30:39 PM |
FeverRed All American 8499 Posts user info edit post |
Quote : | "Can't you dset it up so that they just take your tax return every year and you don't have to make monthly payments? " |
Um, I don't know what you're doing, but I'm not sure I've ever made enough in my tax returns to pay my student loan bill for the year.12/23/2005 1:51:43 PM |