[StayinOnTheGrind]

Originally Posted by manofcare

So you are saying that you should always have interest to pay to a lender because you gain what....... So interest on a loan is an asset?

I didn't say anything, I asked a simple question, that is why I used a question mark at the end of my sentence not a period. Since you're asking if everyone has read your posts, I'll ask if you've read my post, well have you? (notice the question mark)

Manofcare or manoftension? Roll one up and light it, relax man, life is way too short

Spend, save, pile up debt, what does it matter when the day comes that we all pass away? (question mark again)

[Gravysgal]

Originally Posted by Jules A

Fortunately in my area getting into a CC is based solely on your GPA and entrance exam. I was with ya until you added that you are borrowing for living expenses. We will have to agree to disagree this time.

I'm 16 grand in debt right now,
but I had to borrow to get the bills paid too.
I'm happy for all of you that don't have to get loans,
or just need money for school,
but some of us have bills that HAVE to be paid.

I got fired from a job I had for 9 years when I was 7 months pregnant.
I had the option to go back to school, but unfortunately the bills still
come in every month.
With a newborn it would cost me more for daycare than what I could
get paid to work part time while going to school.

So I will argue until I'm blue in the face that my loans are
GOOD debt

[nurse2be09]

I entered nursing school with zero student loan debt. My Associates of Science Degree was paid by my previous employer.

When I graduate next May, I will have roughly around 20K (give or take), which I plan on paying off within the FIRST year of working as a RN.

When I enter graduate school, I don't want any student loan debt, and then I will also qualify for tutition reimbursement by my new employer.

[tothepointe]

I fail to see how taking out a student loan in order to improve oneself and lifestyle shows a lack of personal responsibility. The following link is the number of students in default per state for the year of 2005 http://www.ed.gov/offices/OSFAP/defa...staterates.pdf

The number of people in default is quite small and the amount of taxes you pay that goes towards defaulted student loans is minimal. You probably pay more taxes for farmers not to grow things or for medicare abuse than you do student loan default

[Jules A]

Originally Posted by manofcare

Are we going to have the discussion about how you can write off interest on a home but it's a good thing because you keep the government from getting as much in taxes, but you actually have less money left, and that's a good thing because...............Next someone will say that you need debt to get debt and that is good.

With any type of loan when someone mentions the benefit of a "tax write off" I'm cracking up. I'd love it if someone wants to give me a dollar and only take 30 cents in return!


One thing that this thread has brought to light that puzzles me is that having savings/living within your means seems to be something that is scorned here. It also surprises me that there are a few people that were kind enough to email but don't feel comfortable adding their opinion here due to concern about a pile up. Oh well its been interesting anyway.

[tothepointe]

I don't think having savings living within your means is being scorned persay but more the point that its hard to save if you don't have more money coming in than it is necessary to cover your minimal expenses then having a student loan may be your only way to cover school expenses.

Less debt is good but not all debt is evil.

[Asherah]

Originally Posted by Jules A

One thing that this thread has brought to light that puzzles me is that having savings/living within your means seems to be something that is scorned here.

I don't believe I scorned that belief system or way of life, just the way it is talked about and the end all be all and if you don't adhere to all of its principles something must be wrong with you.

I believe the title of the thread was "How much do you have in student loans?" and somehow this thread was launched into how you handle your personal finances. I don't think any of us here who advocate for student loans (if deemed necessary by the individual) feel that living within one's means is a bad thing. I personally believe it should a practice that everyone should live, but feel that certain exceptions such as maintaining a mortgage and education loan balances, should be reasonable allowances.

Woot, 500 posts.

[stacygirl]

I'm still finishing up my pre-req and thank goodness - no student loans as of yet. But when I actually get into NS I do forsee having a nice chuck to pay back.
Right now I am the sole income for my family (hubby & 2 small children). When the 2 kids were in daycare - that was taking all of hubby's check plus the kids hated daycare - so what was the point of him working if it was only pay for daycare, right? So I work (b/c my job pays several $s more per hour than his) and go to school parttime. We live paycheck to paycheck - but other than a mortgage and car payment, we are debt free. But making just enough to cover bills and not enough for savings.
We dont take vacations, eat out or even rent movies. We are very tight with any extra money that comes our way and put it into a savings acct. I know that once I am done with NS our income will be much higher, so I am not too worried about taking out a loan when the time comes. I really have no other choice.

[Shenanigans]

I just got my statement - I'm in the hole for:

SEVENTY-TWO THOUSAND, NINE HUNDRED AND FOURTY SIX DOLLARS AND EIGHT THREE CENTS

I arsed about at uni for a few years first.

[tothepointe]

Well thats in NZ so not too bad. I'm originally from NZ and are the loan forms still that silly one page one that says the lender is the queen? I only took out one semster for about $1000 bucks while for paid of a decade ago.