Tuesday, June 1, 2010

Beaucoup de Student Loans!

Last week my final installment of student loans for my graduate program went through so I have a final grand total for my federal student loans ( for undergraduate, and two masters)

and that total is......... ( drum roll please)............


it is certainly not as much as some of my other blogger friends but it is a lot to me! I wanted to be debt free by the time I am 30 but in order to do that now I will have to make sure at least half of my income for the next three years goes to student loans.

That is a major commitment but I don't want to carry this debt into the my next decade. However, I still want to travel and have a little fun too.

I also probably will qualify for the federal government's loan forgiveness program where I pay a certain percentage of my income to the loan and it is forgiven after 10 years, but really, 10 years is a long time.

...Sigh... what would you do if you were in my shoes?



Anonymous said...

10 years??? That's a long time! I'm sure your education was worth it! You can pay it off!

Chitown said...

Trust me...You will be fine chica!!! You have a great head on your shoulders and the amount while high, is still manageable.

I set up a spreadsheet with my loans and interest rates and I established an order of payoff.

Good luck!!!

YBP said...

awww thanks Chitown!!! I think I may do the spreadsheet thing too!