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Student Loan repayment
Henry0Reilly
Member Posts: 10,892 ✭✭✭
Yes, it's official, I got my first "sheepskin" yesterday. The clock is ticking on getting accepted to graduate school or begin repaying my student loans.
I used to recruit for the NRA until they sold us down the river (again!) in Heller v. DC. See my auctions (if any) under username henryreilly
Comments
Good luck on grad school.
Congrats Henry. In what field is your degree?
I now have a Bachelor's of Social Work and Case Management Certificate.
quote:Originally posted by 320090T
Maybe you should get a job, a real high paying one, so you can pay lots of Social Security and some of us "older" guys can retire and collect it. lol
There are no high paying jobs at the baccalaureette level of social work, and maybe not even with a PhD, most of the professors at school had other gigs going.
quote:Originally posted by elkoholic
I recommend consolidating now while the rates are still good then defer again once you start grad school. I'm on the 25 year payment terms for about 60K. Although the consolidation means I pay more over a longer period of time I needed the cash flow to start out. Now I pay much more than the min but the low payments sure were nice to start with.
Good luck on grad school.
I'm not sure what the consolidating means. I borrowed only from the Stafford program and I thought that was all together anyway but some of it is subsidized and some of it not. I haven't done my exit counselling yet, I'll have a better understanding after that, I'm sure.
Keep going...might as well.
Ben
I got my first "sheepskin" yesterday
DWS is gonna be pizzed. [:0]
Congrats Henry. [:D]
I recommend consolidating now while the rates are still good then defer again once you start grad school. I'm on the 25 year payment terms for about 60K. Although the consolidation means I pay more over a longer period of time I needed the cash flow to start out. Now I pay much more than the min but the low payments sure were nice to start with.
Good luck on grad school.
I'm not sure what the consolidating means. I borrowed only from the Stafford program and I thought that was all together anyway but some of it is subsidized and some of it not. I haven't done my exit counselling yet, I'll have a better understanding after that, I'm sure.
[/quote]
Consolidating involves rolling all loans into a single loan to keep the payments down and most likely lower the interest rate. In you case you can consolidate into 2 loans, one for subsidized and for un-subsidized. You will here lots about this as soon as you are out. Banks want these loans and will compete for them. I consolidated with Wells Fargo, not my favorite institution for convenient.
I recommend consolidating now while the rates are still good then defer again once you start grad school. I'm on the 25 year payment terms for about 60K. Although the consolidation means I pay more over a longer period of time I needed the cash flow to start out. Now I pay much more than the min but the low payments sure were nice to start with.
Good luck on grad school.
CONSOLIDATE NOW! You have until the end of June to lock in at low interest rates. PLEASE check.