Should I get student loans?

Solonoid · July 21, 2017, 02:22:13 PM

Quote from: True Turquoise on July 21, 2017, 01:34:30 PM

Quote from: Ossus on July 21, 2017, 01:30:04 PM
Quote from: True Turquoise on July 21, 2017, 12:50:35 PM
i mean you're rich, right?
hahahahaha
You said you were buying a house not long ago

Like, two years ago I was going to buy a house.
My mother (who has been the source of most of the woes in my life) made some calls and lied to the right people and cost me my job, had me arrested (I was released after two days on that one. It was my first arrest) and has generally made my life hell for the last two years. Ergo I just moved to PA and am starting school, because it has become clear to me that I won't be able to get back to where I used to be in life without a degree.

Further, I was going to buy that house because I had a good job and excellent credit, neither of which I possess today.

My bank account has never been bursting at the seams, but I used to have a decent stash put away. No longer.

True Turquoise · July 21, 2017, 02:32:54 PM

RICH KID ASSHOLE

PAINT ME AS A VILLAIN

Risay117 · July 21, 2017, 02:34:18 PM

Bigger question is what is the interest and how long until interest kicks in. For Canada interest begins six months after graduation. So you could get loans and store the extra cash into some investments etc, or 401k, rrsp for us and get some tax returns etc.

As long as you have more liquid assets than debt on graduation you should be good.

I mean I took loans and payed them off after three months in the oil field.

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Turkey · July 21, 2017, 02:47:00 PM

What's your major? I'd also focus a lot less on whether you *can* pay off your loans, and whether you'll be committed to doing so. Even with the most useless degree on the planet, you're still qualified for higher than entry-level positions after working for a year or two. You could be lower management in literally any field after some sort of introductory work period, making 40-50k, but would you be willing to take a job that isn't in your field -- and if you aren't, how much is your field worth?

If you are really passionate about a lesser-valued field, you could go to community college for two years then transfer your credits to an in-state college for the rest, minimizing your costs. You could work through college. You could live with family or friends to decrease rental costs. There's no simple answer to "should I get student loans". If you're driven enough to do the work it takes to pay off something you feel is worth the investment, then do it. If you're just going to school because you think that's what you're supposed to do, then don't. Get a trade, or work up from entry-level somewhere. Maybe join the military if you're adamant about getting the degree but don't really care what you do with it.

MyNameIsCharlie · July 21, 2017, 04:20:03 PM

Wow. This isn't what I expected ITT.

Anyhoo...

You got all but a $1,000 year covered? I would not get them. Working a night job covers that plus living expenses. Given your situation, you probably wouldn't qualify for Stafford loans, and you would likely be given some shit rate loan that's already accrued interest when you graduate.

That said, there are other considerations. What's your major? Would you be able to work nights? For example, if you're premed, then your curricular load is already crushing, and your grades would suffer as a result of working. There's more to this than if you can pay it off. We need details

Desty · July 22, 2017, 06:10:13 AM

If only Bernie would've won...