# Student Loans - Repayment **URL:** \ **Category:** PittSpeed Off Topic\ **Created:** [August 19, 2008, 7:44am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118 "2008-08-19T07:44:35Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![ZEX350Z](https://avatars.discourse-cdn.com/v4/letter/z/87869e/32.png) [@ZEX350Z](https://forums.speedlife.net/u/ZEX350Z)\ **Post date:** [August 19, 2008, 7:44am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/1 "2008-08-19T07:44:35Z")
OK - where better to ask about student loans than a board with many students or post graduates. Here’s the deal. I got my bachelors in exactly 3 years from RMU. I just graduated last month with $25,000 in student loans. When I checked the Sallie Mae (lendor) on repayment options, it said that I am enrolled in school until 2011 (3 more years). My payment is about $250+/- a month. The question is; will they know that I graduated this semester and start my repayment soon OR can I hold out until 2011 for repayment. With my addiction of spending money I would rather wait the 3 extra years if possible. I make a decent salary but have a lot of child support and other debt I would like to pay off first. My interest rate on my student loans is only about 4%. Any suggestions? ---
**Author:** ![alleycat58](https://avatars.discourse-cdn.com/v4/letter/a/b2d939/32.png) [@alleycat58](https://forums.speedlife.net/u/alleycat58)\ **Post date:** [August 19, 2008, 7:50am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/2 "2008-08-19T07:50:09Z")
They’ll know you graduated, they request your status from the school every semester I believe. ---
**Author:** ![ZEX350Z](https://avatars.discourse-cdn.com/v4/letter/z/87869e/32.png) [@ZEX350Z](https://forums.speedlife.net/u/ZEX350Z)\ **Post date:** [August 19, 2008, 7:52am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/3 "2008-08-19T07:52:35Z")
I was told otherwise, I think they would like accruing the interest? I would like to know before dipping into saving to pay off other debt though. 28 years old with $100K in debt not being a homeowner = the suck ---
**Author:** ![77rednecktruck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/77rednecktruck/32/5966_2.png) [@77rednecktruck](https://forums.speedlife.net/u/77rednecktruck)\ **Post date:** [August 19, 2008, 7:58am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/4 "2008-08-19T07:58:55Z")
> [@Great deal at restaurant.com \*\*\* FIXED LINK \*\*\*](https://forums.speedlife.net/t/great-deal-at-restaurant-com-fixed-link/37517/15): > > I was told otherwise, I think they would like accruing the interest? > > I would like to know before dipping into saving to pay off other debt though. > > 28 years old with $100K in debt not being a homeowner = the suck wow, you suck at financial stuff. They will know you graduated unless you somehow slip thru the cracks for a semester or two. I doubt they will let it go until 2011 though. ---
**Author:** ![alleycat58](https://avatars.discourse-cdn.com/v4/letter/a/b2d939/32.png) [@alleycat58](https://forums.speedlife.net/u/alleycat58)\ **Post date:** [August 19, 2008, 8:03am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/5 "2008-08-19T08:03:23Z")
> [@Great deal at restaurant.com \*\*\* FIXED LINK \*\*\*](https://forums.speedlife.net/t/great-deal-at-restaurant-com-fixed-link/37517/15): > > I was told otherwise, I think they would like accruing the interest? > > I would like to know before dipping into saving to pay off other debt though. > > 28 years old with $100K in debt not being a homeowner = the suck No they verify student status every semester with the university. Unless someone is completely clueless, they’ll know and you’ll get a replayment notice. If you don’t want to start paying now, you can try for a deferment. ---
**Author:** ![ZEX350Z](https://avatars.discourse-cdn.com/v4/letter/z/87869e/32.png) [@ZEX350Z](https://forums.speedlife.net/u/ZEX350Z)\ **Post date:** [August 19, 2008, 9:26am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/6 "2008-08-19T09:26:32Z")
> [@Attn: newman. Buffalo^8](https://forums.speedlife.net/t/attn-newman-buffalo-8/37510/9): > > wow, you suck at financial stuff. > > They will know you graduated unless you somehow slip thru the cracks for a semester or two. I doubt they will let it go until 2011 though. My college degree was 80K alone and walked away with 25K debt…not that sucky. Sorry I would rather have debt that drive that jaloppy you have :bigok: ---
**Author:** ![77rednecktruck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/77rednecktruck/32/5966_2.png) [@77rednecktruck](https://forums.speedlife.net/u/77rednecktruck)\ **Post date:** [August 19, 2008, 9:34am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/7 "2008-08-19T09:34:49Z")
> [@What do you guys do to fall asleep?](https://forums.speedlife.net/t/what-do-you-guys-do-to-fall-asleep/37520/16): > > My college degree was 80K alone and walked away with 25K debt…not that sucky. > > Sorry I would rather have debt that drive that jaloppy you have :bigok: I’ll take my 2 POS cars that are paid for over an ugly nissan any day. and I have a house 🌑 ---
**Author:** ![Swarzkopf](https://avatars.discourse-cdn.com/v4/letter/s/7feea3/32.png) [@Swarzkopf](https://forums.speedlife.net/u/Swarzkopf)\ **Post date:** [August 19, 2008, 9:57am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/8 "2008-08-19T09:57:29Z")
> 28 years old with $100K in debt not being a homeowner = the suck Ouch… As others said, they do check with your school every semester…you’ll then have either a 6 or 8 month grace period before you’re required to start paying again. I remember dealing with this a few years ago- they are very flexible/helpful regarding repayment, so they should work with you if you need to adjust your monthly amount, ect. ---
**Author:** ![dyingwish](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/dyingwish/32/6041_2.png) [@dyingwish](https://forums.speedlife.net/u/dyingwish)\ **Post date:** [August 19, 2008, 10:24am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/9 "2008-08-19T10:24:31Z")
You have the option to defer payment for a period of 1 year from the date of graduation…and a continuance if you enter Grad school. Otherwise both the school AND your lender will be contacting you regrading repayment. Frankly asking if you can blow money before they “catch” that you graduated is pretty stupid. How old do you want to be when you finally pay off your degree? Keep deferring and ducking…you’ll be the only 50yr old still paying off your loans. Your line of thinking is what is failing the national economy. ---
**Author:** ![77rednecktruck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/77rednecktruck/32/5966_2.png) [@77rednecktruck](https://forums.speedlife.net/u/77rednecktruck)\ **Post date:** [August 19, 2008, 10:33am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/10 "2008-08-19T10:33:27Z")
> [@Sport sedans...](https://forums.speedlife.net/t/sport-sedans/37501/17): > > Frankly asking if you can blow money before they “catch” that you graduated is pretty stupid. How old do you want to be when you finally pay off your degree? Keep deferring and ducking…you’ll be the only 50yr old still paying off your loans. Your line of thinking is what is failing the national economy. and he wonders why he is 28 with an absurd amout of debt :nuts: ---
**Author:** ![YoungTegger](https://avatars.discourse-cdn.com/v4/letter/y/ecccb3/32.png) [@YoungTegger](https://forums.speedlife.net/u/YoungTegger)\ **Post date:** [August 19, 2008, 11:18am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/11 "2008-08-19T11:18:25Z")
If you have the money pay your shiit off ASAP. All day long I deal with people whose priorities are so skewed its not even funny. I had a lady yesterday who we were forclosing on because she told me she spends the majority of her income on her parrots. Like wtf is wrong with people. ---
**Author:** ![jph102900](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jph102900/32/6049_2.png) [@jph102900](https://forums.speedlife.net/u/jph102900)\ **Post date:** [August 19, 2008, 11:20am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/12 "2008-08-19T11:20:27Z")
> [@New turbo Cobalt SS in 2008.](https://forums.speedlife.net/t/new-turbo-cobalt-ss-in-2008/37514/17): > > and he wonders why he is 28 with an absurd amout of debt :nuts: Seriously, between my wife and I, I think we have about $120 - $130K and 95% of that is the house. The rest is my car ($280/mo) and her college loan ($120/mo). I can’t imagine being that much in the hole and not owning a house. I have some peace of mind knowing that most of my debt is from my house and if it weren’t for that I would be debt free for the most part. ---
**Author:** ![Swarzkopf](https://avatars.discourse-cdn.com/v4/letter/s/7feea3/32.png) [@Swarzkopf](https://forums.speedlife.net/u/Swarzkopf)\ **Post date:** [August 19, 2008, 11:24am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/13 "2008-08-19T11:24:36Z")
[http://creditsoup.com/resources/calculators/debttoincome.asp](http://creditsoup.com/resources/calculators/debttoincome.asp) Pretty cool link that I think is applicable to this thread- put’s your finances into perspective. My wife and I together are at 34%…soon to be slightly higher as I kill a credit card bill and add a car payment. ---
**Author:** ![jph102900](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jph102900/32/6049_2.png) [@jph102900](https://forums.speedlife.net/u/jph102900)\ **Post date:** [August 19, 2008, 11:31am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/14 "2008-08-19T11:31:28Z")
> [@WTB remote starter/alarm](https://forums.speedlife.net/t/wtb-remote-starter-alarm/37491/6): > > [Debt to Income Calculator at CreditSoup.com](http://creditsoup.com/resources/calculators/debttoincome.asp) > > Pretty cool link that I think is applicable to this thread- put’s your finances into perspective. > > My wife and I together are at 34%…soon to be slightly higher as I kill a credit card bill and add a car payment. That is a really great tool. Looks like my wife and I are at 22% ---
**Author:** ![77rednecktruck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/77rednecktruck/32/5966_2.png) [@77rednecktruck](https://forums.speedlife.net/u/77rednecktruck)\ **Post date:** [August 19, 2008, 11:50am UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/15 "2008-08-19T11:50:45Z")
I am around 32%. It will get a lot better once the wife finishes nursing school and gets a job. It is great for the kids that my wife stays home, but imagine all of the cool toys I will be able to buy once she starts making some money. 😃 ---
**Author:** ![dyingwish](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/dyingwish/32/6041_2.png) [@dyingwish](https://forums.speedlife.net/u/dyingwish)\ **Post date:** [August 19, 2008, 3:05pm UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/16 "2008-08-19T15:05:13Z")
> [@Luxury SUV?](https://forums.speedlife.net/t/luxury-suv/37276/174): > > I am around 32%. It will get a lot better once the wife finishes nursing school and gets a job. > It is great for the kids that my wife stays home, but imagine all of the cool toys I will be able to buy once she starts making some money. 😃 lol. She’ll see about that. :wtcslap: ---
**Author:** ![Park\_Style](https://avatars.discourse-cdn.com/v4/letter/p/67e7ee/32.png) [@Park\_Style](https://forums.speedlife.net/u/Park_Style)\ **Post date:** [August 19, 2008, 3:58pm UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/17 "2008-08-19T15:58:57Z")
they will know you graduated. and also you will prolly have 2 loan payments… student ass loans… i think stafford, and the gov fed loans… thats what i got is the 2 payments ---
**Author:** ![77rednecktruck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/77rednecktruck/32/5966_2.png) [@77rednecktruck](https://forums.speedlife.net/u/77rednecktruck)\ **Post date:** [August 19, 2008, 6:41pm UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/18 "2008-08-19T18:41:35Z")
> [@0 % (zero percent) yes San Diego](https://forums.speedlife.net/t/0-zero-percent-yes-san-diego/37392/91): > > lol. She’ll see about that. :wtcslap: truth me=owned ☹ ---
**Author:** ![04liquidS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/04liquids/32/6002_2.png) [@04liquidS](https://forums.speedlife.net/u/04liquidS)\ **Post date:** [August 19, 2008, 7:14pm UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/19 "2008-08-19T19:14:16Z")
Yeah, they are going to find out. Request a deferment or forbearance. > [@WTB: In car GPS](https://forums.speedlife.net/t/wtb-in-car-gps/37470/44): > > truth > me=owned ☹ Where does your wife go to school? ---
**Author:** ![77rednecktruck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/77rednecktruck/32/5966_2.png) [@77rednecktruck](https://forums.speedlife.net/u/77rednecktruck)\ **Post date:** [August 19, 2008, 7:18pm UTC](https://forums.speedlife.net/t/student-loans-repayment/199118/20 "2008-08-19T19:18:10Z")
> [@Sport sedans...](https://forums.speedlife.net/t/sport-sedans/37501/20): > > Yeah, they are going to find out. Request a deferment or forbearance. > > Where does your wife go to school? ccac south She started tonight in nursing 101