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Thankfully I only had to get a loan for the first 3 semesters of college. After that I worked full time while in school, and managed to pay for each semester & pay down my original loan by 50% by the time I graduated. I got married that year and DH paid the rest. Luckily he paid for his school upfront and never got a loan!
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Yes. I'm in Canada so thankfully it's not as insane here, but we paid off dh's undergrad with my second undergrad student loans. We paid off my second set a year after I graduated. DH will be going to grad school in September, but his company has graciously offered to pay for half, so we only need to save about $15K. We no longer qualify for loans.
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Yes, mine are already paid off. My husband never had any.
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YES! Mine are close to being done because we're kind of paying as I go and I'll be done with school in a year or so.
Dh never had any. I just have mine from graduate school, but luckily for me, DH is able to make payments and by the time I graduate and work, i'll most likely be able to finish them that same year. -
Only DH has student loans and it should be paid off within the next 5 years!
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I pay off my last loan this month. I've paid down $150,000 in less than 10 years using loan repayment grants and paying them down through my own funds. I will be so happy when I send that last check off later this month!
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No way! We still have over $50,000 in loans
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DH got a full scholarship for school and my loans are paid off. Thank God.
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Mine will be.
DH has more loans than our mortgage. I have a feeling we're on the "forgiven in 25 years" plan with his.
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Yes. My undergrad was paid for via parents and scholarships. Grad school was paid for by my employer and I paid the rest as I went. We just finished paying off the last of DH's grad school loans. It was such a relief to send in the last check! Now we can focus on saving for LO's college education so hopefully he won't be stuck with loans.
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DH and I never had college loans. We are extremely grateful to our parents for putting us through our private school educations -- it wasn't cheap!!
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DH and I only have graduate school loans...but boy, are they big ones! We are on ten-year repayment plans (just started repaying, we both finished in the last year) so that we can knock them out. It sucks now, but it was important to us to pay less overall. So, since we don't have kiddos yet....in theory, yes, we'll be done. But we'll also be broke until they're paid off.
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The plan is to have them GONE in the next few years. Two are getting paid off this year, and the final one will take another few years.
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Nope. I paid off my student loan a couple of months before LO was born. Right now, I want to work on certifications and get my company to pay for them.
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I went to undergrad free as my dad was (and still is) a professor where I went. I stayed at the same university and got half off for my masters. i got a full ride for my doctoral program at a different university, so even though I had been in school for 10 years, I graduated with very little debt, thankfully, and that amount ad been paid off for a while. DH just had undergrad to pay for and that's been paid off for a while as well.
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@yerpie110: we are hoping that our kids get admitted to (and want to go) wherever Wagon Sr. is working at the time!! That is, if he is still in academia in 15 years!!
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Probably not. I have none from undergrad (scholarship) but over $150k from grad school (after scholarship!) and we pay nearly $2000/mo already so don't expect to pay them off early. Over $10k/yr just in interest. It's highway robbery but the only way to be in my field so here we are. DH doesn't have any of his own, thank God.
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Yes, I'm hoping to start doubling payments soon, we have about 10 years left riht now. Would love to cut that down to like 7! DH will be paid off a lot sooner, he had way less than I did but we both went to expensive private colleges!
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I haven't done the math but my guess is just barely. we both have grad school debt from our mid-20s. it was worth it considering what it did for our careers, but those payments every month hurt.
I went to undergrad on scholarship and am really hoping LO(s) can do the same. DH went to an expensive (and great) private college and I went to a public university on scholarship and we both ended up at the same place! -
I just thought of something! I think in a few years both Wagon Sr. and I will qualify for some (if not all) student debt forgiveness since we both have worked for non-profits for the majority of our careers! Definitely him, possibly me. So maybe by the time our kids enter high school we'll have no more student debt!
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@mrs. wagon: both my brother and I went free. It's the dream!! I hate academia but have seriously contemplated it just for the potential free ride for my children, haha. I haven't made the jump yet, but we'll see. I hope your husband stays, the perks are amazing!
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@yerpie110: He's staying for at least a bit more because of those perks... he's getting his Masters for free right now, and hopes to move on to a PhD while he continues working! Totally depends because his school is piloting a PhD program in his field in a few years, and it would depend on how much he would be able to work while studying at the same time. A masters he can do part time a couple of classes a semester over 3-4 years, but not so sure about that PhD since the program hasn't even started yet!
And yeah, we'd both be overjoyed for our kids to go wherever he works for. Although he wants them to go to his alma mater, which is far away and would require a move... but he's willing to pursue a job at the med school for his alma mater! gahhh... at least this is at least 10 years away
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@mrs. wagon: As the daughter of a father who was in academia, it seriously was amazing, so I hope it works out for your DH (and you and the kids, too, of course!)! What is his field of study, if you don't mind me asking?
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@yerpie110: he is currently pursuing his Masters of Public Health! He works in research administration. So he'd probably always be working for a medical school.
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@mrs. wagon: My dad is a biostatistician who works for Columbia University's School of Public Health! And he does a ton of research with the medical school as well. It's a great field to be in
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@yerpie110: cool!!! uhh I need to gold wall you. haha. aw man, no gold. I was just gonna tell you that my brother graduated from there! probably long before you though... he's old. class of 2000 i think.
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@mrs. wagon: Oh, nice! Hmm..DH and I graduated '05 and my brother was '04, so there is a small small chance your brother might have known my brother, haha.
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Nope. But the interest rate on my loans is locked at less than 2%, so we just have them on auto pay and don't even think about it. We figure we can make more investing that $ in the kids 529s or our own savings!
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Thankfully I have no loans, but that may change in the coming years. It will definitely be less than 10k though, so I would likely be able to pay them off in only a year or two considering the pay increase we'd have.
But I married a lot of debt, unfortunately. We are unsure when they'll be paid off but I sure hope they are in less than 15 years!
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Unlikely. We're going to consolidate ours into a long-term repayment plan and start from there. We both have a lot!
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I paid mine off last summer!
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@Mrs. Jacks: That is super awesome! Congratulations on a job well done, what a relief!!!
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I have a small amount to pay off and DH has no student loan debt.
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Unless T is the next Dougie Howser, my law school loans will be paid off. I think I have 11 years to go :). No other loans!
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I have three years left @ my current rate of re-paying! Hopefully it will be done sooner! I'm sick of them!
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Yup, I should have mine paid off in a couple of years. But I didn't take out that much, only around 18K.
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We are lucky in that my parents paid for pretty much all my schooling and my husband doesn't have any loans.
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Yes, fortunately my mom worked for the university so my tuition was paid for, but I still took out loans for books and living on campus. It was under 8K though so it will be paid off soon (I graduated in 2010). I am beyond blessed.
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Yes, we are almost done! And we both went to grad school.
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We don't have any. University is fairly affordable in Canada, and both our parents paid for tuition (we each paid for books, parking, etc).
We plan to fully pay for our kids as well.
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