I wish I had never gone to college :(
 

Paying off student loans SUCKS! I called my loan people today and asked them why is it that I keep on paying them MORE THAN the amount requested every month and the amount that I owe on the loans never seems to go down.. The guy's reply was "MOST of your payment goes to the final amount, the rest goes towards interest" Well I got out my calculator and punched in the #'s he told me and found out only 70% of what I'm paying goes towards paying off the loan! His reply was "yes, 70%, that's MOST" LOL!

Then I ask them to tell me the difference between my 2 loans and which one would be better to pay off first (one if for 2k the other is for a little more than 3k) and they transfered me to 4 diff people then told me to "go online and find your answers on our website" I told them no, your website is confusing and I'd rather talk to a real person about this kinda stuff.. ugh!! 20 mins on the fone with these people and I never got a straight answer! I wrote them a check for $2000 and asked them to please mark on my account that is to PAY OFF one of the loans.. I am expecting to get my statement next month and see that they split the $ between the two and I will still have two loans to pay off.. I wish I had an extra $5000 so I could just write them a check n tell them to go fuck themselves..

I never finished college and the only classes I feel I really learned something from were my history classes. Did I learn anything in college that I use in my business or everyday life? Nope, I don't think so.. I could of used the time I spent in class and studying working on my webcam or building my website and I would be better off now keeping that $ instead of paying off these loans, which I feel I will be paying off for the next 10 years of my life.. ugh!!

Thanx for letting me vent guys :)

Skul Sux~~~

Do a gangbang, collect $5000, pass go.

LOL! Why didn't I think of that?!:)

It's not that I don't HAVE the $5k, I'd just be really sad to hand over that much of my hard earned $ to these douchebags.. But I guess in the long run if I paid it all off at once I would be paying them a lot less.. sigh..

can you get the 5k and pay them? not exactly a huge ammount

Anyway, if you have a house or other asset you can consolidate in a lower rate and/or longer term loan. just check with the banks

I finished with BA in History with a Political Science minor...and I work for a porn company. I cc my boss all my b2b e-mails and she says years of BSing papers gave me an excellent vocabulary=)

That's pretty much how all loans work. My car payment is $500 and only $300 of it goes towards the principal... however every month that does go up. Just keep paying in like you are and it will disappear slowly but surely.

What kind of interest (%) are you paying?

Who do you have? Sallie Mae?

If so, you need to pay ONLINE and designate your payment to go on the PRINCIPAL.

I hear you can write that on your stubs when you mail it also, but I prefer paying online so I have the choice since I always pay extra. I do the same on my auto, house, and jetski loans as well. Although those are through a credit union.

lol, they gave you money for school right?

:1orglaugh

Yeap.. thats a big plus you get from College, a rich and diverse vocabulary to BS your way out of anything but debts :upsidedow

If you paid it off THEY'D be loosing more to, think of it that way! Then they can't collect on the interest anymore!

After a 1.5yrs and too much money I said fuck that shit too..

If you have the spare money it really doesn't make sense to not pay off the loan. The loan is costing you money, close to double its initial worth through its lifetime. If you have the money, and your money isn't making you a higher percentage of interest elsewhere, pay it off. Of course this doesn't include your emergency fund... don't dip into that.

Well if you responded to some porn ad because you were broke while you were attending college for which they paid for. Then without them and that loan there could be no website and no naked you for us to look at - in a round about way. I mean you could of ended up not going to college and getting a job at some coffee joint where the wages and tips provided you with enough that you never would of looked at any recruiting ad and eek remained straight laced.

damn glad i finished:thumbsup

yes ur right, I just wish I had researched a little more and educated myself about this before taking out that much $.. Or wish I hadn't taken ANY of their $.
I was 18 at the time and thought I was going to be a preschool teacher for the rest of my life hehe..
So I did appreciate them loaning me the $ at the time, but they r douchebags for making it so confusing and not explaining it all to me in a way I can understand.. If this stuff confuses me I'm sure there are plenty of other people that are confused about it also.

what was ur major?

somewhere around 6%?

I think next time I get a bill from them I'm just going to pay it off in full so I never have to deal with them again and I don't have this hanging over my head.. thanx for the comments guys, I just need to vent :)

best of luck to you :thumbsup

Pay them off asap,short term pain for long term gain,just like a credit card,those intrest only payments will drain ya and you're not getting ahead

Just pay it off in one lump sum otherwise your lining they're pockets with interest

6% a year? - everytime I hear about the loan interest rates elsewhere I get so depressed :Oh crap

Wait till you buy a house and you start paying 2000 a month and only 100 goes towards the principle.

damn thats whack, glad i got out early

Hmmmm school teacher Aaliyah instead of school girl.

I think you need to play on that angle.

There are all types of ways interest is handled. Some loans you pay it all in the beginning. Some also have penalties for paying early since you are trying to avoid the interest.

They really do fuck you over. Regular state college can be as much as $30K a year. I'm not sure if it's worth it anymore just for a BA. They could really shrink that so it only takes 2 years. There is no reason to stretch out a BA so it takes 4 years. Seems outdated and more about tradition.

Its a turn on hearing you talk about interest rates and optimizing payments to reduce debt.
WG

student loans rock

Good luck with that hun..

Isn't KB your boyfriend? Isn't he a baller? Get him to help you out.

Or you could do an aaliyalovebailout.com

Good luck.


PS you're smokin hot.

70% is huge. I wish 70% of my house payment went towards the principle.

You have to write a separate check for the "excess" amount and write on the check itself "Apply to principal" This applies to any loan, car, student, home, credit cards even, etc. Otherwise it gets deducted from the P&I.

Wait about 25 years and it will :mad:

If it wasnt for school I would have never had a library to start my own biz. Luckily it only took me a couple years to figure out networking was not the way to go and I started snagging books on web design and pretty much learned the rest on my own. School is good if you want to work for someone else all your life, owe big debts all your life, and fuck pretty girls while you attend. Other than that, useless.

all I want from my man is his love, and his dick hehe.. I'm a big girl I can pay my own bills :)

Yeah, I know.

ooooh baby.. does that make ur dick hard? I can tell you about the hassles I had to deal with figuring out my my taxes and my health insurance bills next and that will really make you cummmm...mmmmmmmmmm:)

Sorry I will stick to posting naked pics and making smart asses comments from now on :)

yep, I had a classroom of 12 1.5yr olds when I started webcamming.. I would work all day long for about $42 then go to this studio and work an extra 2 hours on webcam and double my $.. I thought that webcamming and photoshoots would be a great "side job" for a little bit to put some extra $ in my pocket until I got my degree..
Look at me now!:)

:1orglaugh you're awesome, and everytime I click on your webcams link you're offline :(

I have to thank you for starting this thread. It made me stop and think about my car loan that I have been over paying.

One phone call and $2k was knocked off the principle.

Damn! Well I'm usually online 5-6 days a week, but this week I had to take a couple days off to take care of stuff.. there's a schedule on my bio and I usually stick to it so you can check that :) I will def be online Thurs n Friday night!:)

If you can pay one off. Pay off the higher interest one first. It is not that confusing.

If you owe 5k at 6%. You are paying monthly so 6%/12 months = .5% times the 5k =$250. That is your interest and if your payment is about $400 then $150 is going towards the principal.

See.. now you should give Aaliyah half of that.

That still sucks.

I overpaid on my car loan every month and then I got a letter saying
congrats you paid off your loan early. I then threw away six months of
"payment reminder stubs".

College can be a huge waste of money if you don't go about it in the right way.

At least you are not in $30k debt.. Like a lot of people are to their schools..

Good luck paying it off Aaliyah! I managed to get scholarships for most of mine but I have friends who are struggling with loans, even in Canada.

Education should be accessible for all and government should see it as an investment in itself and not burden students with large loans.

It was her choice to pick a school that charged. There are plenty of quality freebies out there.

Thats what bailouts are for!:pimp

oh yeah, the Community College was a 30 min drive from my place, and the U of Penn (York campus) was within walking distance. I thought it would "sound better" and look better on my record if I went to a University, plus I loved walking to school every day.
I put so much time and effort into getting a 3.5-4.0 GPa the entire time I was in school, yet no one that I've done biz with has asked to see my college transcripts, ever.