So I'm set to graduate with my bachelors in English (I know) and the exit counseling is laying out what my repayment is gonna look like. They're estimating a little over 250 dollars over ten years. On one hand, I am incredibly grateful to my past self for going to community college first, as through my qualification for Pell Grant I only had to pay about twenty dollars a semester. On the other hand…jesus, lmao. Admittedly, I took out a bit more in loans for housing, and so that I could maintain part-time employment instead of the dreaded full-time school, full-time work combo, but with the way things are right now, I'm very nervous about keeping up with my payments. I went to a public university, too, though I feel like it's definitely on the more expensive side compared to other options.
I dunno. I hope this will all be worth it. Budgeting over the next year or two especially will be crucial.
Exit Counseling has me feeling a lot of mixed emotions
byu/cabbagegoth inStudentLoans
Posted by cabbagegoth
6 Comments
You can do it! Exit counseling can be tough to hear and should probably happen before school loans are disbursed. Do you have any job prospects? Why field would you like to go into? $250/month is possible but you’ll need stable, above-average income and keep expenses to a minimum (live with family, no car payment, etc.)
Wait, so you’ll only be paying $250 total per year over the next 10 years? How is this bad?
My monthly pmt is $450 and it would take me 45 years to pay off my loans. And I would have paid more in interest than what I took out…1k/month if I want them paid off in 10 years. Even if you’re doing 250/month that’s super nice and have it paid off in who years I so nice. I would kill to be in your position…
So, Im confused here why you’re upset…unless I misunderstood something
Way to borrow so little money! $250 is nothing, so pay the whole loan off as quickly as you can
You eat an elephant one bite at a time. I don’t say this in a reductive way but your elephant is small comparatively to many that might post here, but that doesn’t make it any less of an elephant with whatever financial context you have or the feelings you’re experiencing. You will find a way to budget, and if the math isn’t there you will find a way to make the extra cost up. Don’t beat yourself up too much if you can help it. No judgement from me here, whats your plan for profession with your degree?
You’re going to end up as a teacher, but you’ll have to go get another degree to do it. You’re screwed. Better move to a state that pays teachers well. Oh, and teaching is the WORST with these horrible kids.
I think you did really well if you are paying 250 a month and they will be paid off in 10 years. Like, that is very doable unless you just can’t find a job at all. Good work!