Thread: Is 40K too much loan debt to teach?

Ooooph.....that's alot.....but if you were willing to move, and if you loved teaching, and if you looked at it as an adventure, then yeah-- i'd say do it.....

Good luck

Lisa

I'm currently at 32k and climbing (I'm finishing my master's). There are so many things you can do with your loan to make payments manageable...you can stretch it out to 20 years if you need to...you can pay lower payments at first and higher payments later...you can even defer your loan if you have to. I say, go for it. Student loan interest rates are a lot lower than most other loans, and you are buying something much more valuable than a car or a house. Think of it as the ultimate investment.

Originally Posted by ErBear

I'm currently at 32k and climbing (I'm finishing my master's). There are so many things you can do with your loan to make payments manageable...you can stretch it out to 20 years if you need to...you can pay lower payments at first and higher payments later...you can even defer your loan if you have to. I say, go for it. Student loan interest rates are a lot lower than most other loans, and you are buying something much more valuable than a car or a house. Think of it as the ultimate investment.

I have that much too, and will be adding to it as I begin my master's study in the future. I have consolidated my loans and stretched out the payments to make them more manageable. I had a professor in college, well really he was my mentor, who was still paying off student loans in his forties. He said that for some people student loans are just a fact of life. Get all the education you need so that you can do what you love. Student loans can be dealth with in various ways as ErBear said.

I was looking at the loan forgiveness program on the FinAid website, and it doesn't look promising at all. Am I suppose to be paying for my loans the first 5 years of teaching? Can someone please explain to me how the whole process work? I'm so confused...