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PinkieLee · 05-14-2012, 08:50 AM

$35,000 in student loan debt ~ yeah, that's me, too!

I'm not gonna lie... I am absolutely pissed off at myself for taking out those loans, because honestly I didn't need them. I had received scholarships through the American Legion & American Legion Auxillary for the entire time I was in school (which paid 100% of my tuition) and I decided oh I can just take out a few loans so I don't have to work while I go to school. Ugh, yeah not so smart. Not only did I get the loans, but I requested the max amount available for every. single. semester.

After graduation, I also made another stupid mistake and deferred some of my payments for two years (which still racked up interest). Because I had taken out so many loans, with different lenders through my college education, I had two that went into default before I even realized it. Then the letter to my employer came when they decided to garnish my wages.

So, two of the loans ($8,159) started being garnished from my wages at 15% of my weekly pay. Luckily, I got those paid in full within a couple of years & have been able to make faithful payments on the remaining student loans that are in consolidation.

Where I live, one of the local community colleges doesn't even offer financial aid anymore because the default rating was so high and student loans were cut off. If students want/need loans, they have to find them independently.

05-14-2012, 08:50 AM	#18
PinkieLee Senior Member How Do You Identify?: Femme Relationship Status: I need ya boo, gotta see ya boo Join Date: Nov 2009 Location: Big Money Texas Posts: 4,708 My Photo Gallery Thanks: 24,309 Thanked 13,074 Times in 3,049 Posts Rep Power: 21474856	$35,000 in student loan debt ~ yeah, that's me, too! I'm not gonna lie... I am absolutely pissed off at myself for taking out those loans, because honestly I didn't need them. I had received scholarships through the American Legion & American Legion Auxillary for the entire time I was in school (which paid 100% of my tuition) and I decided oh I can just take out a few loans so I don't have to work while I go to school. Ugh, yeah not so smart. Not only did I get the loans, but I requested the max amount available for every. single. semester. After graduation, I also made another stupid mistake and deferred some of my payments for two years (which still racked up interest). Because I had taken out so many loans, with different lenders through my college education, I had two that went into default before I even realized it. Then the letter to my employer came when they decided to garnish my wages. So, two of the loans ($8,159) started being garnished from my wages at 15% of my weekly pay. Luckily, I got those paid in full within a couple of years & have been able to make faithful payments on the remaining student loans that are in consolidation. Where I live, one of the local community colleges doesn't even offer financial aid anymore because the default rating was so high and student loans were cut off. If students want/need loans, they have to find them independently.