$100,000 in student loan debt?

cardiacRN2006, ADN, RN · May 20, 2009

DING DING DING! We have a winner!

Hey, if this makes you feel justified for being reckless with your student loan money, then OK. I guess when you are in that much debt you will grasp at anything!

Hold on! You've almost justified it! Almost! Nooo, I guess not.

Good luck trying though...

melmarie23, MSN, RN · May 20, 2009

Call me reckless all you want. I manage my SL, my ONLY debt, just fine.

by your own words, I think I'll be alright.

cardiacRN2006, ADN, RN · May 20, 2009

I am not upset at all, I just said it was like banging my head into the wall, when I get nothing but excuses back. But nope, not upset here, I am not the one with a rude awakening coming my way when the bill collectors come to collect.

Yes, I love how we dispute the necessity of 100,000 dollars in school debt for a BSN and it gets turned around as "if you have a car or home you are the same as me" :chuckle

Lol.

Don't you think it's sad that they can't tell the difference? You would think with their expensive education that they would be able to figure this out.

Then again, those of us who are smarter about our money know the difference anyway, now don't we?

~Mi Vida Loca~RN, ASN, RN · May 20, 2009

wait, didnt you say previously that you have a payment on one of your cars? and may need to take out a SL to help pay for day care?
Isnt this a bit hypocritical? How can you talk about one person's debt when you carry your own?
Again, I will say, its all relative. If you have the money to afford the payments, then how is that exactly being irresponsible and reckless?

No it's not hypocritical, I said "Let's face it, the only SMART debt is NO DEBT" Didn't say I was debt free, I will be in a few years but I at least am a step ahead of the game in that I can see that no debt is the SMART thing to do. I won't make excuses why my debt is OK. I also won't act like 100K in SL debt is no biggie.

melmarie23, MSN, RN · May 20, 2009

cardiacRN2006, I never argued 100K is good or bad for a BSN. What I did say that for some, SL are a necessary means to fund an education. Its simply a matter of opinion.

However, I am not the one knocking another's means of funding an education, ASN, BSN, MSN or otherwise. However someone chooses to pay for college...its really of no concern to me, because what they choose to do financially is none of my business. As long as they feel confident in their decision and are being responsible borrowers, then no skin off my back.

I just think that its a bit ironic that those who are touting no debt do in fact have debt of their own. Yes, car loans = debt. Yes, mortgages = debt. Equity aside, crap happens and I would hate to be up crap creek without a paddle, stuck between a rock and a hard place should a job loss happen. That is all I meant by that statement earlier. You can plan all you want...have all your ducks lined up in a row...but the unexpected can, and does happen.

::shrug::

cardiacRN2006, ADN, RN · May 20, 2009

Shrug: anything can happen at any time. If you choose to live this way, then sad for you.

~Mi Vida Loca~RN, ASN, RN · May 20, 2009

Its still a loan- and the poster is saying to have NO DEBT. Maybe she should take some time off from school to save..especially if its such a small loan!

Actually, no I never said that. Reading Comprehension really seems to be lacking in this thread. I said the only SMART debt is NO debt.

But I never said anyone in here should have NO DEBT at all. I have said a few times I can understand the need for student loans. I also said I can't understand the need for 100k+ student loans. Hopefully my actual words are read this time.

~Mi Vida Loca~RN, ASN, RN · May 20, 2009

BTW and as a nurse or soon to be nurse, hopefully this is an analogy that can be better understood.

I can say that eating a diet of Lean Proteins, and Good Carbs and good fats, and exercise is a good way to live.

This statement is TRUE. even if I stop at McDonalds and order a Big Mac, this statement is still true. Me having some debt doesn't make my statement that the only SMART debt is NO debt any less true.

melmarie23, MSN, RN · May 20, 2009

Actually having some debt, and being responsible with it, is what builds up your credit. So I would argue that some debt is actually good debt.

You say potato, I say potahto. :wink2:

~Mi Vida Loca~RN, ASN, RN · May 20, 2009

Actually having some debt, and being responsible with it, is what builds up your credit. So I would argue that some debt is actually good debt.
You say potato, I say potahto. :wink2:

If you save and pay cash for things you don't need credit. The person some of us have talked about many times Dave Ramsey is a multi millionaire, he has NO credit. He was young and racked up tons of debt and was careless and had to file BK, he got smart about money, now he has milliones and has NO DEBT. He doesn't need credit, he can walk in and pay cash for anything he wants. He started from the bottom got rich, fell and did it all over again but with the insight and knowledge on his side. That is the way to live, being a slave to NO ONE!!! By having a debt you are a slave to the lender so to speak.

melmarie23, MSN, RN · May 20, 2009

Question: Did you pay for your house in cash? Or did you rely on your credit score to get you a good interest rate on your mortgage?

If its the latter, then yes, having a good credit standing is beneficial.

And what about that one car loan of yours you previously mentioned? Again I ask, did your credit score qualify for a good interest rate on that car loan of yours?

And my intelligence and comprehension skills have been called into question in this thread? As Cher Horowitz once said, "As if!":lol2:

cardiacRN2006, ADN, RN · May 20, 2009

Sorry, you have tried, and tried to somehow equate home ownership to an expensive private school. Not gonna work.

Maybe that's why we question comprehension?