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re: Refinance Student Loans

Posted on 1/25/13 at 1:28 pm to
Posted by TheWiz
Third World, LA
Member since Aug 2007
11672 posts
Posted on 1/25/13 at 1:28 pm to
quote:

I just can't see how one could justify this

My wife is a Dr. now, and I'm on a career path to likely be a VP at the private company for whom I work. I had about $16k from undergrad and just got my MBA for another $31k. I think we'll be alright. Otherwise, I wouldn't have opted for what will be close to a $4,000, five year note after the five years of interest only expires.
Posted by dewster
Chicago
Member since Aug 2006
25315 posts
Posted on 1/25/13 at 1:51 pm to
My wife will be close to $175,000 in the hole after her medical degree. Just talking about student loans triggers a headache. And yes, that's a normal amount for people in her line of work.

Even with what she's expected to make, that's going to be a very difficult payment.
This post was edited on 1/25/13 at 1:55 pm
Posted by guttata
prairieville
Member since Feb 2006
22504 posts
Posted on 1/25/13 at 1:53 pm to
Sounds like you did the smart thing and married money.
Posted by TheWiz
Third World, LA
Member since Aug 2007
11672 posts
Posted on 1/25/13 at 3:42 pm to
I married an ambitious woman that wanted to be a Dr. If I married money, then I probably wouldn't be in a student loan discussion.
Posted by guttata
prairieville
Member since Feb 2006
22504 posts
Posted on 1/25/13 at 8:34 pm to
Still good to know that if you ever need to be bailed out, y'all have a security blanket.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 1/25/13 at 11:13 pm to
quote:

Its called a Top 50 law school and the illusion of grandeur.

Not to mention the market tanked as we were enrolling. It was somewhat justifiable when firm jobs were being handed out before you even started your 3L year.

The result, as of now, is a job that pays me 40K and rising more than what I would have made with my undergrad degree. However, there were 3 years I wasn't working of lost income. Tempered by loan repayments of course.


No disrespect intended, but this illustrates why students have to pay 6.5% while the feds borrow for far less.
This post was edited on 1/25/13 at 11:13 pm
Posted by Teddy Ruxpin
Member since Oct 2006
39554 posts
Posted on 1/26/13 at 1:42 am to
quote:

No disrespect intended, but this illustrates why students have to pay 6.5% while the feds borrow for far less.


Ya, individuals are a bit less stable than the government that can gobble up 25% of my income because it wants to. Makes them a bit less risky.
This post was edited on 1/26/13 at 2:03 am
Posted by BoobieWatcher
Member since Jun 2010
4587 posts
Posted on 1/29/13 at 3:27 pm to
(no message)
This post was edited on 2/6/13 at 2:31 pm
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