Guitar Gear Forum

When you got out of college, how much did you owe in loans? Had this conversation at work the other day and was really surprised at the responses... especially the scholarship-to-debt ratio.

A couple hundred dollars.


I pay my college as I go, books and rent are typically always a month behind though (i'm never late on payments but I find myself in debt because of these two things)

$10k roughly. Paid off last month and got the final victory statement yesterday.

30k but I created an account to hold all the excess funds that were not used when my classes were paid. That had about 10k in it. When I graduated I paid all the unsub loans first with the 10k account... my job is paying for the rest just about. I'll probably get by with 5k out of pocket in the end, which is not bad considering. A good number of my classmates were buying things, clothes, food, whatever, with that left over money.. I thought that was nuts

I had $45k. But I didn't know what I was doing. I went to a tech school and got an Associates, then immediately realized it was rather worthless and then got a BS while working full time over the next 5 years.

^^^ I know that feel.

My old roommate would always piss me off. Dude would get like $2100 a month from the state because his dad is military. His rent was only like $600, he would blow the rest of it on dumb shit and partying.

Is your avatar a pic of the hadron collider at cern? lol

Got out of undergrad with only about 3 grand in student loans, and the only reason I had that was because I was majoring in music performance and was supposed to buy a classical guitar. A legit one. Instead, I switched majors to political science and bought my brother's truck for 4 grand, which I still drive.

Then, I went to law school. By the time that was said and done, I had somewhere around 200 grand in student loans and a deep hatred for the legal profession.

lespaul6 wrote:Is your avatar a pic of the hadron collider at cern? lol

Fuckin' awesome right?

totally awesome... now we just need a pic of the higgs boson!

My pharmacy school is costing me about $20K a year, plus with my undergrad, I will be close to $100K in student loans. I just hope that I start making the pharmacist wages quickly upon graduation...

Cole

I'll be about 40k in when it's all said and done, but I will have almost 10k stashed to pay a huge lump of it off.

Worst part is, I've actually got more in scholarships than my school cost, but with the cost of living, and the debt I was in when I started, I had no choice.

No outstanding loans from my undergrad, but grad school is going to be anywhere from $80-120K depending on where I end up going. No guitar gear for me, ever.

Graduated with 17k on a 20 year payment plan. Four years left to go. I made the mistake of refinancing too early and got stuck with an interest rate of 7.2%. All the advice i was reading in financial columns at the time said "now is the time to refinance". A year or so later the rates were half what I locked in.

Zero from undergrad, 45K from grad school.

I've paid back 50K and have about 40K left to pay.

45k, got about 20k left. I could write a check tommorow but at 2% it's like ehhhh, you almost make money by not paying them back because of the time value of money.

$30,000 doctorate degree (7 years) Indiana University 1981-1988


I worked my way through college (and this was 30 years ago) It was also in-state tuition.

People coming out of school these days with the same degree are usually about $200,000 in debt. Good luck to them.

~5k. I should have had it paid off already but my 20s were sort of not normal. It'll be paid off in a year.

My wife though...good lord, 70k maybe?

I paid my way through undergrad, but law school did me in. $150k+. There is a great program through direct loans where my payments are income based, with the possibility of forgiveness after 10 years if I stay in a "public service" job.

I saved up before I went to school, but I'll end up with some, unless I get a big wage increase this summer to pay off whatever debts I incur during the year.

Whenever you make money available to everyone to buy something,the price is going to skyrocket and a bubble form. Witness the real estate bubble? Here comes the college diploma bubble.