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Addicted to Student Loans

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avarist:
Anyone else feel that after 8 years on student loans, having to live without them is scary as hell?

I don't even want a Masters or a PhD but am considering both just to keep living expences coming in and defer repayment. You only have to do the programs part time to get that, and you can normally do that on schedules that allow you to search for work (and god willing find it and start doing it) as well. In a poor job economy is this an idea that has entered anyone elses mind too?

SoCalLawGuy:
Why would you say you can't live without loans? For me, the simple idea of having to give money back is giving me the shivers.

avarist:

--- Quote from: SoCalLawGuy on September 28, 2012, 02:38:16 AM ---Why would you say you can't live without loans? For me, the simple idea of having to give money back is giving me the shivers.

--- End quote ---

for the same reason that people get "dependent on welfare and govt handouts (except here, yes as you pointed out, we have to pay them back-in thoery eventually)

If you re-read my post you will see the answer to your questions. (defer loans, keep money coming in)

AlwaysSunny:
You have to forgive me for my ignorance because I haven't gotten into the school loan game yet.

Won't your loans still be accruing interest if you go back to school? So you'll end up owing substantially more (in interest alone) if you continue to put them off, correct? Have you done the math on your monthly payments if you start now vs. one or two years from now?

avarist:

--- Quote from: AlwaysSunny on October 02, 2012, 10:07:03 AM ---You have to forgive me for my ignorance because I haven't gotten into the school loan game yet.

Won't your loans still be accruing interest if you go back to school? So you'll end up owing substantially more (in interest alone) if you continue to put them off, correct? Have you done the math on your monthly payments if you start now vs. one or two years from now?

--- End quote ---

we don't all have trust funds to live off of, or spouses/parents to take care of us.

yes, more debt is bad. But no money to survive in short run is worse. -There is a reason why people are willing to pay the electric bill with a creditcard.

Plus (in theory) the extra degree will give an edge (somehow).

How are you to the point of enrolling in law school without any student loans? You on GI Bill, or just have parents pay for it?

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