As we previously discussed, in my first post, DH and I have mondo student loans. We owe more money for education than most people owe for their house. So I thought I would break the student loans down by who we owe and how much we owe. That way I can give a running cumulative total as we track the progress.
Student Loan People #1: $1779.49
Student Loan People #2: $18,562.89
Direct Loans #1: $20,997.42
Direct Loans #2: $63,319.09
Chase Private Loan: $7,300.92
Wells Fargo Private Loan: $46,072.17
Which all adds up to a GRAND TOTAL of : $158,031.98
Hope you all are ready for a long ride in paying these bad boys off. A long the way, I hope we can all share some encouragement amongst one another. I will be sharing ways that we are actively trying to pay down this debt and share some of my favorite blogs/financial books with you.
So, have you done your debt calculation? Feel free to share in the comment box below if you have any financial goals for 2012, or if you have any questions for me.
Monday, January 2, 2012
Why my student loan(s) suck . . .
As we begin the new year of 2012, I take pause to say that student loans suck! I am dedicating this blog to my journey to be rid of my student loans and my Dh's student loans.
A little background before we begin . . .
I decided to major in well, who am I kidding? Like I had a major at count 'em 3 different schools in two different states. Did I graduate? That would be a resounding NO! Did I party like it was 2003? I sure did. Did I take out two student loans to finance this over the top, never ending spring break? You bet.
Enter DH, he chose to go to an out of state college in the beginning and then transferred after two years to a private college (because that was smart) to get a liberal arts degree financed by (how did you guess?) student loans. Then on top of that, decided to get a Masters and then went A.B.D. in a social science before realizing the social science professors make the salaries equivalent to lunch ladies. These two very special degrees were subsidized by both private and federal student loans.
Q: But, JB? Why did DH take out student loans when most grad students get a stipend?
Honest Answer: Because the social science stipends are barely enough to buy Cheetos let alone pay for living expenses.
Now we are collectively out in the real world and much to our dismay, the federal government, Chase, and Wells Fargo seem to want their money back.
This blog will be dedicated to tracking our progress of paying these banshees off. Stay tuned for my next post as I reveal just how much we have to pay off.
A little background before we begin . . .
I decided to major in well, who am I kidding? Like I had a major at count 'em 3 different schools in two different states. Did I graduate? That would be a resounding NO! Did I party like it was 2003? I sure did. Did I take out two student loans to finance this over the top, never ending spring break? You bet.
Enter DH, he chose to go to an out of state college in the beginning and then transferred after two years to a private college (because that was smart) to get a liberal arts degree financed by (how did you guess?) student loans. Then on top of that, decided to get a Masters and then went A.B.D. in a social science before realizing the social science professors make the salaries equivalent to lunch ladies. These two very special degrees were subsidized by both private and federal student loans.
Q: But, JB? Why did DH take out student loans when most grad students get a stipend?
Honest Answer: Because the social science stipends are barely enough to buy Cheetos let alone pay for living expenses.
Now we are collectively out in the real world and much to our dismay, the federal government, Chase, and Wells Fargo seem to want their money back.
This blog will be dedicated to tracking our progress of paying these banshees off. Stay tuned for my next post as I reveal just how much we have to pay off.
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