Yay time to payback student loans! (aka F********CCCCKKKKK)

[Meresgi]

http://rollingjubilee.org/

Related stuff to all this.

[RKenshin]

I'm no expert so correct me if I'm missing something, but for federal taxes, less income (or reduced via stu loan interest payments, which are nice and I do believe caps at $2500 ) won't put you in a meaningful lower tax bracket.
e.g. this year a single person with an AGI of $36,250 is in the 15% bracket and somebody making $1 more is in the 25% bracket. But that doesn't mean they pay $5437.5 and $9062.50 respectively.
They will pay - 10% of the first $8925, 15% of the next $27325. and the 2nd person pays 25% for the next amounts, which is $1 in this example.
So their taxes are $4991.25 and $4991.50 which is a lot different that $5437.5 and $9062.50 when you just apply 15%/25% across the board.

Correct.

The whole 'bumped into next tax bracket and now I actually make less money' thing is a myth.

[Seraph]

I think Seraph posted a picture that countered this pretty well, although my hat's off to you. Your way's viable. My train of thought (which I'm fortunate in that it paid off) was that 'better to just power through, since I'll probably be making enough and tuition keeps shooting up'.

This was effectively my thinking. I decided to bust my ass and got a '5 year degree' in 4 years time, and only worked during the Summer to pay for misc out of pocket expenses during that period since many of the classes I needed were not offered during the Summer semester. Considering that all of the financial aid (besides more loans) I possessed in college would automatically terminate after completing year 4 in school, it ended up saving me a huge sum of money before I even started paying on the loans. My situation wasn't exactly common, but it is something to consider. it really breaks down to a situation of 'what works best for me'. Some people have a lifestyle and work ethic that allow working a job while attending school, others are able to overload on classes, others aren't able to do either effectively. Your situation will vary, etc.

[2134p]

@ Meresgi : In a previous post you talked about the Art Institue and a balance notice you had with them. How did that go? How did u get things resolved with Williams & Fudge?

[Melena]

holy thread necro batman.

[Adajer]

SallieMae just gave me a call this morning. Fuck her.

[Syntex]

For all of you saying this is too late/shit sucks ect what would you do if you were just starting/going back to finish school and needed money for it? Would you do loans, go part time, get 3 jobs to pay for it? I'm kinda curious as my fiance is going back for her masters this fall and would like to not dig the student loan debt deeper.

[Furionstormrage]

I worked and lived as cheaply as possible, paid cash for my education. It took a year extra and my social life sucked for a few years, but I came out debt free.

[Ishido]

I graduated without debt last year
With a humanities degree
And I had a good paying job lined up from the October before I graduated

What do I win

[Anoat]

For all of you saying this is too late/shit sucks ect what would you do if you were just starting/going back to finish school and needed money for it? Would you do loans, go part time, get 3 jobs to pay for it? I'm kinda curious as my fiance is going back for her masters this fall and would like to not dig the student loan debt deeper.

If I had the chance to do it over again I'd have done USAF for a few years to get college paid for. I was pretty adamantly against the idea of any military service when I was a dumb high school kid, but as I got older and saw so many people getting out at 22-23 and having all their college paid for, I got mad jelly. Plus from what I have witnessed the military forces people to grow up and mature right the fuck fast, so most of these people I knew were responsible adults, homeowners, etc by 25 and not out dicking around at frat parties and shit and then broke when time came up to pay back Sallie Mae.

[Moss]

For all of you saying this is too late/shit sucks ect what would you do if you were just starting/going back to finish school and needed money for it? Would you do loans, go part time, get 3 jobs to pay for it? I'm kinda curious as my fiance is going back for her masters this fall and would like to not dig the student loan debt deeper.

she should try like fuck to get some sort of assistantship. best deal ever