<p>If you are a student currently taking out loans to attend school or if you're a parent whose child is in that situation, does the debt distract you from your studies? I'm talking about larger loans, not one or two thousand dollars over four years. Does the concept of graduating into significant debt damper the college experience? Is it something that one thinks about frequently? Every week? Every day? Does it add to the daily stresses and pressures that college already brings? Or can you just forget it for the time being and cross that metaphoric bridge of repayment when you get there? </p>
<p>No.</p>
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<p>I think the vast majority of borrowers simply “forget it for the time being and cross that metaphoric bridge of repayment” when they get there. </p>
<p>Probably more of them should give more thought about how they are going to repay their loans w a dual degree in Gender Studies and French.</p>
<p>There are some students who have posted here on CC that they are very worried about their debt. Sometimes their debt isnt huge and we try to calm them down. Sometimes their debt is big and we understand their concerns because the debt is likely going to be unaffordable once they graduate. </p>
<p>So…dont borrow too much</p>
<p>@mom2collegekids - I was watching a YouTube video posted by Boston University (or some student community at Boston University) that discussed debt and one individual who happened to be pre-med talked about how, in his senior year, he was looking at 200,000 in debt 6 months from his graduation already plus the additional debt he’s going to amass in medical school. It got me thinking as to how someone, a pre-med Bio major nonetheless, can focus on the rigor of a STEM degree while accruing so much debt. It seems like it would be something that would consume your thoughts for the most part. And while I get that certain fields of medicine pay quite a bit especially in places like Boston where the guy was from, there are too many variables that make half a million dollars or more in debt by the end of one’s educational career ridiculous. </p>
<p>It depends upon the person. I know one young woman, knew her very well, who did not appear to be worried one bit about the huge amount of loans she was taking, and used every bit she could get to buy herself some wonderful experiences. Whether it kept her up at night, I don’t know. But some people can compartmentalize things like that, and I’ve no doubt some such people are students.</p>
<p>I also see a lot of posts where the only concern the posters have is how they can get their hands on some money. Forget the terms or amounts, and concerns about that. Just where can they sign to get the money. </p>
<p>But the good people of the town of Hamlin, in an old story, did not worry about incurring debt either, until the time came to pay the piper. </p>
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<p>Yikes…whoever cosigned those loans is a total idiot. He wont be paying back those loans 6 months after graduation unless he doesnt go on to med school. Adding all the interest accrued/accruing and the med school debt, this person could be looking about $600k+ in debt to pay back. Totally insane!</p>
<p>That person, if not worried, is living in La La Land assuming that once he’s done with his specialty and practicing, he’s going to be rolling in bucks and can easily make $6k a month payments. I doubt it…not as a newish practicing Dr. And even if he can, he will likely quickly resent that his fellow newish MDs will be putting their money towards their futures, not towards not-necessary undergrad debt.</p>
<p>Once he is in med school (if he ever goes), and he’s talking to his peers about THEIR debt levels, he will then realize what a huge mistake he (and his cosigner) has made.</p>
<p>I agree it depends on the student, but most go the forget about it route or at least appear to.</p>
<p>Personally I worry about how much I’m talking when going through the loan application process every year, I take out the minimum I can to afford school. I have had conversations with my parents as well as people in my schools financial aid office (it worked in my favor getting additional Aid). I definitely consider how I’m going to pay it off once I graduate. Once school starts I manage to forget about for the time being, while sticking to my budget. </p>
<p>My roommate is in a difficult financial situation, and is to able to get through a semester without it intervening with school work. She thinks twice before spending money on extras but it doesn’t keep her up at night either.</p>
<p>I have another friend who thought that mom and dad were completely paying for school out of pocket to learn part way into the school year that she has loans. I think this is was just a bad idea all around.</p>
<p>I’m not going to have any debt for undergrad and I still get anxious thinking about what loans I’m gonna need for grad school – and I’m only a freshman; lol. But I think in my case, the anxiety/concern is good because at least I have a good amount of time to think about what route I’m gonna take to financing my post-UG plans, scholarship/grant options, etc. </p>
<p>What kind of grad school will you be pursuing? What is your major and career goal?</p>
<p>@mom2collegekids - This is directed to me or OP? I’ll answer anyways, lol – I’m majoring in Political Science; I hope to go to law school for environmental or tax law. If I figure by the end of four years that law school is not a good investment at that point in time (dependent upon LST employment statistics of schools I’m capable of getting into), I’m considering pursuing secondary education in history/politics/government and receiving post-bac licensure in my state. Another option I’ve been considering is post-bac education overseas; I have dual citizenship with the U.S. and Ireland and I’ve been looking at some grad programs there that are quite affordable, but I still have a lot to research about that. But I’m mostly (80+%) set on law school. </p>