Student loan debt now exceeds credit cards
Eight thousand dollars and climbing. The debt counter keeps on turning for college freshman Allison Clevlend.
Join the discussion below, or Read more at Oshkosh Northwestern.
#1 Oct 21, 2010
people can get their credit report for free once per year.
The student loans will show up on this report.
I'm a parent who has student loans from my children.
AND my children have student loans from themselves.
The debt is huge. I pay about $1,100 per month just for mostly interest on my children.
[The private student loan bank to stay away from
is Citibank.(We just got done refinancing away from this nasty nasty bank. Brutal they are. Don't ever get a credit card from them either. Another horrible bank is Chase.)]
The reason it is so high is because my one child couldn't get a decent paying job that afforded her the ability to live as an adult, plus pay her loans. So, I needed to take over these loans for her so she could live.
My other child is just getting off unemployment, but she didn't get a job. Employers are not hiring employees because of the new health care law....they are hiring contractors. That way the employers don't have to pay benefits.
So, my child needed to start her own business just to work. She needs to pay her own social security which is 15% some of her income. She then needs to tuck away another 15% of that income for income tax. And now, she needs to give another 10% to some fat cat health insurance company for a ridiculously high deductible health care policy that will only pay half of a bill once the deductible is met. And after donating to the insurance company, she can't afford to go to a doctor anyway even for a case of strep throat! She went to a free clinic instead. She is barely making it.
So, I help her with her other bills as well.
My advice is this....don't go to school full time.
Take a class here and there and really really try
to pay as you go. Work at a stupid job being used up and down by the employer....suck it in. Start a business on the side electronically somehow....and put the gruel time in. In about 15 years, you may have a degree...but it sure beats being harassed by national banks daily, nightly, with fee after fee and unilaterally changing contracts, interest rates being jacked up just because some merger took place.
AND OBAMA administration was supposed to correct all of that...nope...the banks are even worse now than they were before.
Stay away from the big national banks if at all possible.
Young people....take this advice to heart. Seriously. A degree is not worth the pain you'll experience after you get it. Trust me.
#3 Mar 26, 2014
This is the first time I had ever applied for a loan. I couldn't have asked for anything more from the staff that answered any of my questions to the application process. Once this had all been completed the money was transferred quickly into my account. I will definitely be recommending 911PDAY .COM ( http://goo.gl/EvYZBe ) too my friends and family.
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