Comments on: Repaying student loans http://thatcollegekid.com/student-loan-repayment/ Just another tech blog written by a college kid, her Mac and lots of Dr. Pepper. Thu, 05 Jan 2012 15:02:14 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ken http://thatcollegekid.com/student-loan-repayment/comment-page-1/#comment-509 Ken Mon, 10 Dec 2007 01:10:22 +0000 http://thatcollegekid.com/2007/11/05/student-loan-repayment/#comment-509 Consolidation can certainly extend the payment period and the amount you pay back in interest.....if you only make the minimum payments. The advantage to consolidation is that it allows you to make smaller payments in the beginning when you are fresh out of school and not making a lot. But, if you can afford to, you can make larger payments without penalty and knock down the loan much quicker than the 20 or 30 years you signed up for. Consolidation can certainly extend the payment period and the amount you pay back in interest…..if you only make the minimum payments. The advantage to consolidation is that it allows you to make smaller payments in the beginning when you are fresh out of school and not making a lot. But, if you can afford to, you can make larger payments without penalty and knock down the loan much quicker than the 20 or 30 years you signed up for.

]]> By: mike http://thatcollegekid.com/student-loan-repayment/comment-page-1/#comment-213 mike Fri, 09 Nov 2007 01:42:43 +0000 http://thatcollegekid.com/2007/11/05/student-loan-repayment/#comment-213 Yeah, paying back student loans suck. I have some friends who owe over $100K after grad school. Yeah, paying back student loans suck. I have some friends who owe over $100K after grad school.

]]> By: Jamie http://thatcollegekid.com/student-loan-repayment/comment-page-1/#comment-210 Jamie Tue, 06 Nov 2007 23:04:07 +0000 http://thatcollegekid.com/2007/11/05/student-loan-repayment/#comment-210 I just graduated college in June, and my first loan payment is due in six days. I am not excited. Let me tell you from personal experience that taking out a student loan should be your very last option. I definitely suggest working part-time during college if your course load allows it--it gives you recent experience for your resume (which makes it easier to get a job after college) and it can help you avoid getting in to debt. Also, if you are looking into consolidation (which can be a good choice for some people, if it allows you to lower your interest rates, for example) watch out for those 20 or 30 year repayment plans--they mean LOTS more interest. I just graduated college in June, and my first loan payment is due in six days. I am not excited. Let me tell you from personal experience that taking out a student loan should be your very last option. I definitely suggest working part-time during college if your course load allows it–it gives you recent experience for your resume (which makes it easier to get a job after college) and it can help you avoid getting in to debt.

Also, if you are looking into consolidation (which can be a good choice for some people, if it allows you to lower your interest rates, for example) watch out for those 20 or 30 year repayment plans–they mean LOTS more interest.

]]> By: Nick http://thatcollegekid.com/student-loan-repayment/comment-page-1/#comment-206 Nick Tue, 06 Nov 2007 14:08:40 +0000 http://thatcollegekid.com/2007/11/05/student-loan-repayment/#comment-206 Always important to start thinking about your finances as early as possible, as you will be graduating sooner than you think. Believing you will get a high paying job is good for optimism, but I would hedge your bets and prepare incase you don't get what you want. I didn't do this, and although I have a good job, and earn a little more than my friends, I wish I'd thought more about my future financial situation. Always important to start thinking about your finances as early as possible, as you will be graduating sooner than you think. Believing you will get a high paying job is good for optimism, but I would hedge your bets and prepare incase you don’t get what you want. I didn’t do this, and although I have a good job, and earn a little more than my friends, I wish I’d thought more about my future financial situation.

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