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How Much Do You Owe in Student Loans?

ABC News U.S. 2013/05/13 09:00:00
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Some call it the Student Loan Bubble -- I call it crazy. And what better time to discuss student debt insanity than now, as countless soon-to-be graduates prepare to slip on their caps and gowns?

An estimated 1.8 million students are graduating this year, many with degrees that perhaps aren't worth a damn when it comes to actually getting a job. Nevertheless, many of them will soon be paying back the tens or hundreds of thousands of dollars they borrowed to get those nice degrees, and I wonder how many will regret the decision to spend what they spent as they see their interest compound and principals skyrocket through cycles of deferment and forbearance. The college experience can be an amazing one, but is it really worth the cost? (And I'm not just talking about tuition.)

Read More: http://abcnews.go.com/Business/student-loan-debt/s...

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Top Opinion

  • Fef 2013/05/13 22:19:55
    Nothing
    Fef
    +7
    yet, I owe (taxes) for a lot of illegal immigrants to get university educations in California.

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  • Mr. WW 2013/05/19 17:42:44
    Nothing
    Mr. WW
    My daddy sponsored my education.
  • Bradley Smith 2013/05/16 21:38:20
    Nothing
    Bradley Smith
    +1
    At the moment
  • Nuala a.k.a BlueRaven 2013/05/16 19:14:43
    Nothing
    Nuala a.k.a BlueRaven
  • Mike 2013/05/16 18:30:56
    Nothing
    Mike
    I Chapter 13'd mine when that was still possible!
  • harasnicole 2013/05/16 18:03:34
    Nothing
    harasnicole
  • Joachim 2013/05/16 10:56:27
    Nothing
    Joachim
    +1
    I paid back all my student loans
  • Bibliophilic 2013/05/16 05:59:10
    More than $20,000
    Bibliophilic
    +1
    Around 20k, slightly more.
  • Playerazzi 2013/05/16 03:09:58
    Nothing
    Playerazzi
    +1
    Of course, I went to college in the 1980's when this was still feasible. AND I majored in engineering, which gave me a good-paying job instead of "Poli-Sci" or some-such non-lucrative but good-looking liberal arts degree.
  • lolitalovely 2013/05/16 02:19:53
    Nothing
    lolitalovely
    +1
    But I probably will soon have these terrors. crossing my fingers.
  • Mark 2013/05/15 09:36:28
    More than $20,000
    Mark
    +1
    Sadly, that's even after working my ass off, when I wasn't in classes. A lot of times, I didn't even have time to study for tests, because of work, and my grades reflected that. Then, of course, the university started making things difficult outside of class, and I washed my hands of the whole mess. They'll probably never see that loan money, since I don't make enough to pay them anything, either.
  • La 2013/05/15 07:13:38
    More than $20,000
    La
    +1
    I actually have no idea because I can't figure out how to get an invoice. I estimate it's around $35,000 - $40,000 at the moment and probably end up around $50,000.
  • MOMMA THOMAS 2013/05/15 05:26:29
    Nothing
    MOMMA THOMAS
    +1
    WORKED AND PAID MY WAY THROUGH COLLEGE.
  • Mark MOMMA T... 2013/05/15 09:37:39
    Mark
    +2
    You must have gone to a cheap college, or were paid very well at your jobs.
  • MOMMA T... Mark 2013/05/15 18:31:19
    MOMMA THOMAS
    +1
    WHEN I STARTED (EARNED MY A.A. IN A JR. COLLEGE) GAS WAS 33 CENTS A GALLON, LIVED AT HOME, WORKED IN AN ATTORNEY'S OFFICE....... GRADUATED FROM STATE COLLEGE IN '63.
  • Mike MOMMA T... 2013/05/16 18:31:56
    Mike
    +1
    and a stamp cost 4 cents!
  • ross 2013/05/15 02:34:32
    Nothing
    ross
    +3
    When I went to college , there were no student loans that I knew of so I worked through the summer and paid my way through college. No big deal like it is now. The system is broken it should not cost an arm and a leg to go to college. Some will be paying off these loans for the next 10,20,30 years if not for life.
  • Vanessa ross 2013/05/15 13:29:30
  • marine1967 2013/05/15 00:50:01
    Nothing
    marine1967
    +1
    Of course I attended college in 1976, but it was 100% paid for by my GI Bill, including books, labs, and living expense, dor me and my family. That is when being a Vet was a good deal, unlike the Montgomery Bill, which you pay into, but my son got his degree with it and I believe he also got away without debt
  • deidara.trueart 2013/05/14 22:41:34
  • none 2013/05/14 22:38:44
    Nothing
    none
    +1
    I worked my ass of in the summer and when I was in school so I wouldn't have student loans, of course the GI Bill helped a bit too.
  • Just me ♥ 2013/05/14 22:35:38
    Nothing
    Just me ♥
    +1
    I paid for what my scholarship didn't cover in cash and in a few weeks, I'm going back to college again and will do the same.
  • Mike Just me ♥ 2013/05/16 18:33:07
    Mike
    +1
    Good luck ! lol
  • Just me ♥ Mike 2013/05/16 22:25:48
    Just me ♥
    +1
    The company I work for just told me that if I pay for my schooling up front each semester that all I have to do is turn in my grades at the end of the semester and they will reimburse me at 100%....woo-hoo!!
  • Mike Just me ♥ 2013/05/16 23:04:56
    Mike
    You should try to see if you could go through Med School with an offer like that! lol
  • Just me ♥ Mike 2013/05/16 23:13:18
    Just me ♥
    +1
    That would be nice!
  • Mike Just me ♥ 2013/05/16 23:17:04
    Mike
    Then, if MO is a community property state, I could marry you after you got out of med. school. LOL!!
  • Treasure ♥ijm♥ 2013/05/14 22:32:52
    Less than $10,000
    Treasure ♥ijm♥
    +2
    I took out a parent plus loan for my daughter so she could go on to get her Master's Degree. I owe a bit over $10,000. She has a wonderful career now. I am glad I could help.
  • betz 2013/05/14 20:34:00
    Nothing
    betz
    +3
    I graduated from college in 1972 and had not one ounce of debt. Our parents saved for college and instilled into us that college is a privilege not a right. We saved to pay for our only daughter's education also. No debts did she have either.
  • scbluesman13 2013/05/14 20:19:28
    Nothing
    scbluesman13
    +1
    Paid it off while I was working full time during my last year of college. My wife and I have been aggressively saving into our daughter's college fund, since it will likely be much more expensive for her 16 years from now.
  • Ferηαηdo Fierce Monster of ... 2013/05/14 19:43:31
    More than $20,000
    Ferηαηdo Fierce Monster of Phaet
    +1
    I'm afraid to look at the exact number. I graduate with my bachelors next year in May and I plan on going onto grad school.
  • jgh57 2013/05/14 18:53:32
    Nothing
    jgh57
    +1
    Paid it off years ago. My son will owe about $30,000 which is a ridiculous sum.
  • Twinky 2013/05/14 17:46:24
    More than $20,000
    Twinky
    +1
    Urm.. where is "between 10,000 and 20,000"??
    I owe £10,000 so that somewhere between the two.
  • SA 2013/05/14 17:10:09
    Nothing
    SA
    +3
    I owe NOTHING in Student Loans. Paid it of years ago.
  • The Andoxico 2013/05/14 16:53:02
    Nothing
    The Andoxico
    +1
    I'm not going to college.
  • Jack's Pearl 2013/05/14 16:50:07
    Nothing
    Jack's Pearl
    +1
    We paid in full.
  • Tree 2013/05/14 16:08:23
    More than $20,000
    Tree
    +1
    28,000
  • MissAdventure 2013/05/14 15:23:43
    Less than $10,000
    MissAdventure
    +1
    I took out a loan to study abroad and after one more payment, I'm going to have it paid off before interest even starts on it! Whoohoo!
  • JCLadybug 2013/05/14 15:01:49
    Nothing
    JCLadybug
    +1
    So glad I decided to go to grad school instead of medical school. They pay ME to go to school instead of the other way around (and I love what I do).
  • The Madhatter 2013/05/14 14:25:42
    Nothing
    The Madhatter
    +1
    Not yet - and hopefully never?
  • Linkums 2013/05/14 14:13:30
    Nothing
    Linkums
    +1
    Thanks to financial aid, my parents, and inheritance money from my grandfather. I'm not sure if my sister will make it through so lucky though.

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