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Student Loan Day


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Oh no... my loan came in...

which is a good thing in many ways...

I can pay my credit card off... rent... food... etc...

but

Fresher's week has just started... I need some moisturiser... and I've run out of incense...

 

so... most of my loan will now go on booze... cosmetics... (as i cant shop for just the moisturiser... I'll probably end up stocking up on toiletries to last the year...) and well... I have a thing for candles...

 

I may ask someone to come with me and restrain me... or better still... give my mum my cards

 

devoed at my will power :(

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Oh no... my loan came in...

which is a good thing in many ways...

I can pay my credit card off... rent... food... etc...

but

Fresher's week has just started... I need some moisturiser... and I've run out of incense...

 

so... most of my loan will now go on booze... cosmetics... (as i cant shop for just the moisturiser... I'll probably end up stocking up on toiletries to last the year...) and well... I have a thing for candles...

 

I may ask someone to come with me and restrain me... or better still... give my mum my cards

 

devoed at my will power :(

 

Yeah, definitley treasure it. im doing a masters now, and its painfully hit there will be no luxury of the student loan :( . and its also hit me I have to pay the damn thing back that I didnt appreciate and its actually gaining interest. ohhh, im missing my undergrad years.

 

goodluck with the willpower :D

celia

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I live at home so I don't need loans... but I'm thinking about getting a place closer to school. 30 minutes isn't a bad commute but with today's gas prices, it causes problems for trying to join clubs that happen eight hours after your classes end... eh.

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As a guy who is still paying off his student loans, all I gotta say is every penny you waste from your student loan is going to be a penny you cry over when you're paying hundreds of dollars every month for years and years as soon as you finish college.

 

Student loans make college affordable for many, but if you're wasting it like you say you are, you are going to be in a very painful situation here in a few years.

 

 

If you are lucky enough to get a job out of college, how much are you going to make? How much will you pay for rent, utilities, food, health insurance, etc.? Now add another $300 per month (more or less depending on how many loans you took out) in paying back the student loan. If you don't pay the student loan, it will go into default and you will end up not being able to get credit cards, much less a home or a car. Then you'll spend a year i debt rehabilitation, paying through the nose at atrocious rates, and after that year, you will have to start making loan repayments at a higher rate than you would be if you had made all your payments from the start.

 

Don't have a job after college and don't have enough money to pay the loan payments? Too bad you'll go into default and when you get a job, they'll start garneshing your wages.

 

Oh yeah, got a job but your loan is in default? Just wait until you file your taxes. If you get a refund, the refund will be siezed by the Federal government and used to pay towards your loan, but most likely it will be eaten up by late payment fees and extra interest instead of going to the cost of your loan.

 

Use the student loan money wisely, or you'll spend anywhere from five to twenty years regretting it as you pay off those loans.

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As a guy who is still paying off his student loans, all I gotta say is every penny you waste from your student loan is going to be a penny you cry over when you're paying hundreds of dollars every month for years and years as soon as you finish college.

 

Student loans make college affordable for many, but if you're wasting it like you say you are, you are going to be in a very painful situation here in a few years.

 

 

If you are lucky enough to get a job out of college, how much are you going to make? How much will you pay for rent, utilities, food, health insurance, etc.? Now add another $300 per month (more or less depending on how many loans you took out) in paying back the student loan. If you don't pay the student loan, it will go into default and you will end up not being able to get credit cards, much less a home or a car. Then you'll spend a year i debt rehabilitation, paying through the nose at atrocious rates, and after that year, you will have to start making loan repayments at a higher rate than you would be if you had made all your payments from the start.

 

Don't have a job after college and don't have enough money to pay the loan payments? Too bad you'll go into default and when you get a job, they'll start garneshing your wages.

 

Oh yeah, got a job but your loan is in default? Just wait until you file your taxes. If you get a refund, the refund will be siezed by the Federal government and used to pay towards your loan, but most likely it will be eaten up by late payment fees and extra interest instead of going to the cost of your loan.

 

Use the student loan money wisely, or you'll spend anywhere from five to twenty years regretting it as you pay off those loans.

 

Yeah, I am slightly regretting not paying as much attention to what I was spending during my undergrad years. But I think we have a different system, or mayeb it is simular. here in the uk (well the format has just changed, but I was on the 'old' system), was that everyone was entitled to a Student Loans Company official loan (I'm not sure of the details but the premise was set up by the government), and the last 25% is means tested. i just had the bog standard one. Its supposed to be low interest, but in the last few years the rate of interest has gone up alot without people really noticing. paying it back, we don't have to pay anything until we are earning over

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I've not actually applied for my loan yet. My parents spent so long sodding around getting me the stuff I need to get that little tiny bit extra (that and I've not been able to afford postage, paper or ink to do the forms)

 

I should probably do that now....

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Eek! Student loans are where it all starts to go wrong! Do yourself a huge favour: Teach yourself money management skills now, or else you will be trying to dig yourself out of this hole for a long time to come.

 

Have you thought about getting an automatic transfer set up on your bank account? That way, when the cheque comes in, you won't be tempted to spend it all right away. Just allocate it evenly and give yourself "paycheques" every couple of weeks, so you'll learn to budget.

 

Also, check to see if your uni offers a course in personal financial management. Mine did, all about budgeting and taxes and financing and mortgages and retirement savings and investments and such. And as an added bonus, it was worth 3 credits and was an easy A. Totally worth it!

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My loan still hasn't come in but it's ok at the moment because my landlord is away in saudi for a month (as if you can just leave people you've never met to live in your house...) so i don't have to pay him yet.

 

Mike, stop spending. You bellend. Candles, incense and tea are your vice and i understand that. You would marry tea if it was legal to do so. But seriously, AXM (the gay bar) will be the downfall of you.

 

As for money, i'm in my overdraft, and somehow need

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My loan still hasn't come in but it's ok at the moment because my landlord is away in saudi for a month (as if you can just leave people you've never met to live in your house...) so i don't have to pay him yet.

 

Mike, stop spending. You bellend. Candles, incense and tea are your vice and i understand that. You would marry tea if it was legal to do so. But seriously, AXM (the gay bar) will be the downfall of you.

 

As for money, i'm in my overdraft, and somehow need

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Check those Japan requirements carefully. Sometimes it's sufficient to prove that you have access to the funds (i.e. through an approved line of credit or credit card, or secured loan). It may not be necessary to have the funds actually sitting in a bank account, liquid. Honestly, I've never researched this for Japan, so I can't tell you the requirements, but I know that's the case for some other countries, so check into it before you panic.

 

Side note: Never mind the paperwork; Japan's expensive. If you don't have the funds, how will you eat?

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Check those Japan requirements carefully. Sometimes it's sufficient to prove that you have access to the funds (i.e. through an approved line of credit or credit card, or secured loan). It may not be necessary to have the funds actually sitting in a bank account, liquid. Honestly, I've never researched this for Japan, so I can't tell you the requirements, but I know that's the case for some other countries, so check into it before you panic.

 

Side note: Never mind the paperwork; Japan's expensive. If you don't have the funds, how will you eat?

 

Yeah you're right i just need it at a point and send them a bank statement with 6000 on. But i can't even get that from anywhere at the moment. So job time it is.

 

You're right, if i don't have money how will i eat?

 

Erm...maybez i'll go wild and hunt in some mountains. And then die.

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As a guy who is still paying off his student loans, all I gotta say is every penny you waste from your student loan is going to be a penny you cry over when you're paying hundreds of dollars every month for years and years as soon as you finish college.

 

Student loans make college affordable for many, but if you're wasting it like you say you are, you are going to be in a very painful situation here in a few years.

 

 

If you are lucky enough to get a job out of college, how much are you going to make? How much will you pay for rent, utilities, food, health insurance, etc.? Now add another $300 per month (more or less depending on how many loans you took out) in paying back the student loan. If you don't pay the student loan, it will go into default and you will end up not being able to get credit cards, much less a home or a car. Then you'll spend a year i debt rehabilitation, paying through the nose at atrocious rates, and after that year, you will have to start making loan repayments at a higher rate than you would be if you had made all your payments from the start.

 

Don't have a job after college and don't have enough money to pay the loan payments? Too bad you'll go into default and when you get a job, they'll start garneshing your wages.

 

Oh yeah, got a job but your loan is in default? Just wait until you file your taxes. If you get a refund, the refund will be siezed by the Federal government and used to pay towards your loan, but most likely it will be eaten up by late payment fees and extra interest instead of going to the cost of your loan.

 

Use the student loan money wisely, or you'll spend anywhere from five to twenty years regretting it as you pay off those loans.

 

B) ............Well said, sad but true. Took me five years, and I had a GI bill loan

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