My Student Loans Can Kiss My A$$

I was reading this blog about how a single mom was dealing with having to pay back student loans and I must say this blog was EVERYTHING! This is how I feel every time when my automatic debt comes out of my account for my massive student loans.  Read it!

Why I simply Dont Give a Damn About my $100k+

I went to community college right after high school because I was not ready for a real 4 year college and I dint have the grades either. I graduated high school with a .74…how you say, I only had one class my last year of high school and I had work study for the rest of my school day. 

So when I got out of high school moved about an hour away and went to a community college. I moved far enough that I felt the experience of going to college but not too far because I still needed my parents.

I meet a guy and ended up getting pregnant. Me and the guy moved in and played house for a while. And when that didn’t work I moved back home. Meanwhile i took some time off for college. I was trying to figure out what I wanted to do about college. Everyone would tell me that you need a college education if you want to go anywhere so I went back after having my 1^st kid. Then I got pregnant again with my 2^nd son. I know I know ...don't judge me....So at this point I really don’t know what to do. I have two kids at this point, do I go back to school or not? After some time away from school I went back to school after someone told me about an Online university that you can do and you don’t have to step foot on a campus. 

SO I was down and decided that I would rather go to school online when I felt like it vs having to go to class and trying to find someone to watch my boys.

NO ONE told me that going to school online would end up costing me over $100K in student loans. I mean I knew I had racked up a lot of student loans but I didn’t think it costed me over $100K….I had a true WTF moment. Like how sway….HOW???????

So I was dreading the day that school was going to be over because how in the world was I going to pay back this loan? I had read articles and heard of people having to pay back $1200+ a month in student loans. That was more then what I was paying in rent at the time. I was making less than $40k a year and taking care of two boys alone. 

I was really stressing because I had no clue what I was going to do. So I as I got ready for school to be done at the same time my lease was almost up at my apartment and I wanted to move. Was I going to move into another apartment  or what? I had toyed with the idea of buying a home but I didn't know if I was ready or about that home ownership life yet. After talking about it with a few friends, boyfriend and co worker I thought,  might as well. 

I was a few month shy of my 30^th birthday when I bought my first house and then later I bought my 1^st car. So far everything was looking good.

 BUT then my last class finished up and I was officially done with school. Its 2016 and I have an Associate’s degree in business, a Bachelor’s degree in Finance and a MBA in finance. I wanted to get a job in corporate finance but I keep running into the same issue you don’t have enough experience….of course I don’t I just got out of school…duh…Why do companies require you to have all this experience plus your degree when they are just going to train you how THEY do the process at THEIR company? Makes no sense to me.

Really?

Meanwhile I’m still stressing about my student loans when a good coworker of mines told me about student loan forgiveness that the government give those who has student loans. I was pumped so I looked it up Department of Education to see just what she was talking about and they had a few options on ways to help pay back student loans. So I applied thinking nothing much was going to come from it because it all sounded too good to be true and in a few months I got a letter saying that I was approved for the student loan prepayment option and my 1^st payment would be .15! YUP 15 CENTS!!! I was about to pay a years worth of payments if was the whole entire amount.

I was PUMPED I sure did send them their .15! And I did so for a few months. Then after about 6 months I had to send more information and then they upped my payment to $15 a month for a year. Each year you have to re-apply and update your information. I’m on the re payment plan called pay as you earn or income based repayment option.

 So my payment is based on how much I earn. Which is not a bad deal. And after 120 payments my loans will be forgiven which is about 10 years (if you work for the state or government) or 20 years if you work in the public sector. IM GAME!

So I owe over $100K in student loans and I don’t even care. My credit score is a 725 and I own my home with $50+ in equity and I’m not even worried or stressed.

If I had to do it all over again I would. I would definitely be more mindful about how much loan money I was using AND about getting those fat refund checks…which is money that I gotta pay back. But at the end of the day when I look at ALL 3 of my college degrees it makes me proud that as a black single mother of 2 boys I did it. No one can take away the fact that I have 3 college degrees. I DID THAT! So I’m not going to feel bad about it or worry every time I look at Credit Karma my balance is just as much as my house, lol. 

Debt is something we will always have in life and something we can’t run from. I’m glad that it is being managed and it’s something that isn’t hurting my overall credit score.

So I say to those who are not sure about getting a student loan…do what’s best for you. But don’t stress over spilled milk, get a cat to lick it up for you!

SO I say the hell with my student loans they can kiss my entire ass!!!