By Anonymous - 28/10/2019 16:00
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income driven payment plan. look into it. unless of course you make loads
Yep...Most places charge for post-secondary education. Amounts should not be a surprise as you signed up for it in the first place with that payment plan. Look for a better repayment plan if it's hitting too much at once. If you're making too much though, you may not get any lower of a rate. If you think you can pay it off in a year or two, sign up for a 0% APR Credit Card for 12 months and pay it all off. IF you still don't have it paid off by the end of the 12 months, find ANOTHER one and do a balance transfer with 0% APR again. May be hard to do if you're making nothing. If you have income then you should be able to do it. This is how people get away with long term payments without having to pay fees. After a few years of non-use of these cards, you can close them!
Also, many countries in the world cost money to go to college. USA may be expensive, but it's followed EXTREMELY closely with Chile, Canada, Korea, Japan and Australia. It also depends on what you go in to study AND what school you choose. USA isn't some all around bad-guy, it holds some of the most advanced technological universities in the world, and people want to get paid!
to everyone saying the borrowers should have known what they are signing up for. At least when I went. Everyone was promising wages at least twice what a recent college grad is forced to take. Also some of these kids were as young as 17 and signed there life away with the only thought in there mind. I need to go college and this is the only way.
You don't go in assuming you'll get a job right away though. You should definitely have a back up and be working beforehand to have a cushion to pay for it all. Unfortunately schools don't teach you ANY of this. And if you aren't making enough or your parents aren't, you'd be in the bracket of receiving financial aid for it all. There's always going to be possible circumstances for specific people who are stuck in the middle, but no, the payments still aren't a surprise. Husband worked end of HS and during college to pay for college at a minimum wage job. It totally sucks and is hard AF, but it is entirely possible.
Dont give up. I started with nearly 100k in student debt, a $1300 a month payments, and obscene interest rates, but with budgeting, aggressively paying down what I could, refinancing, and doing well at my job, I've been doing very well. I still have a ways to go, but I can afford to spend on the "nice things" like a decent car, occasional travel, and I have a house. DONT GIVE UP. PM me if you want some tips.