Student Loans

So federal loans won't cover all my expenses, and I might need to consider private loans as a supplement. I made a mental note to exhaust all my federal loan options first by filling out the FAFSA, and then carefully compare terms from private lenders if necessary. Has anyone on this bowl had to supplement with private loans? Please share any tips or lessons you learned along the journey. I don't have a very supportive family or friends, so I'm a little alone in all of this.

How many of you are paying just your minimums? I'm trying to figure out what repayment strategy would be best for me since I'm going to start a new program next month that I took out a student loan for. Do you agree with these pros and cons? In your opinion, do the pros outweigh the cons?

I really need help with getting to a better credit score. How does making extra payments on my student loans affect my credit score compared to just making the minimum payments on time? Are there any potential drawbacks to paying more than the minimum that I should be aware of in terms of credit building?

I really want to do the MFA program at USC, but obviously, it costs a leg and an arm. I've gone through the program several times and think I could hugely benefit from it. I'm tired of my family saying I should only take out a loan if it will lead to a secure job, which also promises career growth. Is that even a thing anymore, regardless of the field? What do you all think? Should student loans stop me from pursuing this?

I have the very same dilemma! Does anyone on the bowl have any thoughts/ facts about this that you would like to share?

Are student loans really that bad? I grew up watching my sister who's 7 years older than me whine about it all the time, that it's scaring me out of an education. I honestly feel like I'd rather just go to community college and call it a day. If I just want a normal job that will help me stay afloat, is it worth it to go to school and rack up the debt?

Does anyone know if IBR is the same thing as IDR? Or is IDR the overarching type of plan under which IBR falls? On a side note, is it safe to assume that any help at all with student loans is over?

I've reached a point in my life where I need some guidance to create change in my life or it could keep going on like this forever (being in constant piles of debt). I'm trying to seek help from a financial advisor of some sort but never done this before. How can I start out? Where should I look for help?

A friend asked me 'what has student loan debt REALLY stopped you from?' As much as the question and tone pissed me off, I realized there was still a lot I could have done with my life if I didn't spend my 20s being annoyed I have to pay off student loans and make it my biggest problem. What about you? What do the students still paying off loans feel?

LOL is this a legitimate option?

Can't tell if this is an endorsement piece in its purest form or the actual truth. As of today, and as we near the election date, the news is that the Biden admin is planning to forgive another $4.5M in debt. What are your thoughts?

I'm attaching the link in the comments for anyone who wants to read further, but are any of us daring to be optimistic about this?

I'm completely new to the world of student loans so excuse me if my questions are silly. Would anyone on the bowl recommend SoFi private student loans? What was your experience with it? Is a fixed rate of 3.99% - 14.83% APR* and a variable rate of 5.99% - 15.86% APR* considered good?

So we're not ready for the 'world of work' but supposed to be ready for the 'world of insane student loans'? It's so unfair that we take the risk of having to pay back student loans with the faith that our educational credentials could give us better opportunities, but stereotypes ('Gen Z is unorganized') make us unfit to be employed? This is crazy!

I'm kinda tempted to take this stance. What are the worst things that could happen to me if I did?

I'm a freshman who took out 60k in private loans and 6k in federal. I'm constantly nervous about whether or not I'll be able to pay it off, and I don't want it to affect my studies. What can I do to prepare for paying it all down quickly after graduating?

I sometimes wonder what my life would have looked like if I never took out these student loans. I feel like my career wasn't exactly a result of my education and it all just feels like a series of bad decisions. Where are you all with this thought?

Looks like Biden's push at debt relief is being blocked again! Were any of you on the bowl banking on this working out? What's your plan if it doesn't? Or are you more on the 'I'm unruffled by it' side?

Part of this 'revamped' plan was reducing the amount people have to repay for undergraduate loans at 5% of their income vs the previous 10%. How much of a difference would that have made to your life? I'm curious to know how different people feel.