Student loans

<p>How many here have student loans, and how much are they?</p>

<p>I'm taking out one for my study abroad this summer, ($5500) but other than that I'm covered with grants and scholarships.</p>

<p>I'm taking out over $170,000 for med school...and probably another $15k this year so that I can afford all the travel expenses associated with interviewing for residencies (and a month in Australia!)...</p>

<p>At least you're not taking out loans for a degree that won't get you anywhere, being a doctor will repay those in about 10 years.</p>

<p>I've made it through two years without a loan, but I know I'm gonna have to take one out for senior year. I'm probably looking at 10k in debt.</p>

<p>My mom is going to make me get a loan for at least 1 year's tuition (a little over $10,000). If I remember right, you are going into nursing? If that is so, you might look into actually borrowing some money because some employers will pay it off (do your research about this because it might be true for all places/jobs).</p>

<p>Well, I know they will give me $6,000 my junior year and $6,000 my senior year from a local hospital..but it is a scholarship so that isnt guaranteed or I'd get a student loan for $12,000 to pay for my second year lol</p>

<p>I've taken out $65,000 because... well... I honestly don't know why...</p>

<p>$65000 for no real reason? Are you serious?</p>

<p>Before you take out a loan, make sure you understand them. A lot of people don't. The "should you incur debt for a dream school" first post explains it pretty well.</p>

<p>Basically, it points out that if you borrow $100,000 to pay back over 15 years, you'll end up paying close to $300,000 for it. And that's paying around $1500 a month... seriously, avoid large loans if you can. You can end up throwing away a lot of money on them.</p>

<p>I may need to have $7,000 taken out....</p>

<p>I don't think 7,000 is too bad. I think the average debt is somewhere between $5000-$20,000.</p>