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29 years old with $235K student debt

Chalanachithram.com DB » New TF Industry Related » Archive through June 19, 2019 » 29 years old with $235K student debt « Previous Next »
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Tilak
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Username: Tilak

Post Number: 44773
Registered: 02-2012
Posted From: 111.223.72.82

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Posted on Tuesday, June 18, 2019 - 10:45 pm:       


Telugu_times:

"Basket Weaving" Major


really? which univ?
India First.
 

Telugu_times
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Username: Telugu_times

Post Number: 56476
Registered: 02-2008
Posted From: 99.0.30.9

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Posted on Tuesday, June 18, 2019 - 06:14 pm:       

Alabama gaadu president ayyaaka, "Basket Weaving" Major ki kooda, 200K loans ivvadam start chesaar
no wonder
eediki masters avasaramaa? that too with 70K loans?
 

Ramjirao
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Username: Ramjirao

Post Number: 3747
Registered: 02-2019
Posted From: 98.122.141.156

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Posted on Tuesday, June 18, 2019 - 04:53 pm:       


Uno:

It s common to have $400 k debt if you study in IVY league colleges.. a Law course at Yale has $80k tuition fee per year
..and medical courses costs much much more




valla incomes koodaa adhe range lo vuntaayi and they payoff the loans very quickly

may be 400K can be paid of in 5 or so years
 

Uno
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Username: Uno

Post Number: 5471
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Posted on Tuesday, June 18, 2019 - 03:24 pm:       

It s common to have $400 k debt if you study in IVY league colleges.. a Law course at Yale has $80k tuition fee per year
..and medical courses costs much much more
 

Ramjirao
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Username: Ramjirao

Post Number: 3744
Registered: 02-2019
Posted From: 152.51.56.1

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Posted on Tuesday, June 18, 2019 - 03:10 pm:       

veella parents low income aithee he would have qualified for Federal aid kathaa??

Or else he could have gone to community college if he cant afford college



Plus malli masters deniki chesedu and end of the day making only 4000 per month
 

Ramjirao
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Username: Ramjirao

Post Number: 3743
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Posted on Tuesday, June 18, 2019 - 03:08 pm:       

I’m privileged to have made it through the first few years of repayment. With a financial hardship agreement with Sallie Mae, my parents – cosigners on my private loans – pay $600 per month to keep default at bay from our family and allow me to live a decent life. And through an income driven repayment plan (IDR) with Navient, I’ve been paying less than $50 per month on my public loans, though that could change as my income changes.
My parents cosigned my loans because we’re first-generation immigrants. Moving to the U.S. was about giving me a chance to live my best life. College was a critical component and we couldn’t afford it any other way. The only reason they can afford those $600 monthly payments now is because they paid off their 30-year mortgage just a few years ago.
My parents are in their 60s and 70s and will live the rest of their lives with my student debt. Likely so will I. Again – we won’t be alone.
 

Ramjirao
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Username: Ramjirao

Post Number: 3742
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Posted on Tuesday, June 18, 2019 - 03:07 pm:       

https://finance.yahoo.com/news/m-29-old-235k-student-1517349 65.html


I have $235,000 of student debt. The first $120,000 came with a bachelor’s degree from my state school. Another $70,000 or so came with my master’s degree. The remainder is accrued interest.
The suggested minimum monthly payment on my private debt alone is approximately $1,200. For reference: that’s nearly rent for the 600-square-foot apartment where I live with my partner in New Jersey.
Without income driven repayment, the minimum payment amount for my federal student debt would be around $1,000.
I would have to begin devoting half of my income to debt payment if I cared to pay it off by 2042. I can’t do that because I make just under $4,000 per month. And that income is a fairly new development in my life. Why would I choose to pay down my debt if it meant I wouldn’t be able to afford basic living expenses?
Short of winning the lottery, there’s no way I could ever afford to pay off my debt. And though I have a higher debt burden than most, I’m certainly not alone.

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