Repaying Student Loans

Posted 01-29-2012 at 02:04 PM by Krista

Ah, it’s that time. Time to repay student loans, that is. My husband graduated from college a little over a year ago and now the banks who so generously lent us money to pay for his education are looking for their money, plus interest. I won’t divulge the amount, but suffice it to say that the total monthly payment comes close to approaching the total of our mortgage payment.

Is it just me, or when you’re in school do you rarely think about the day that you’ll have to repay the loans? It just seems like a far off, distant reality. Well, if you are like my husband and me, you know that the day comes all too quickly. And when it does—again, if you’re like me—you’ll break into a cold sweat wondering how you’re ever going to pay it back. The point of going to college, at least as I understand it, is that you’ll be able to obtain a better paying job , and thus be equipped to pay back such loans.

As we all know, a college degree does not guarantee a job, much less a better job. We’d all like to believe that, but in today’s economy it’s simply not always the case. In my husband’s, it is. Marginally. He is making about seven thousand more than he was without a degree. That might seem like a lot, unless you consider the fact that we now have two children that we are supporting on his income alone.

At his company they are promising good things in his future, but that has yet to be seen. And until it is I guess I’ll just have to figure something out! Anyone else in this boat?

Filed Under: General


2 Responses to “Repaying Student Loans”

  1. Laundry Lady on January 29th, 2012 8:27 pm

    We’ve been repaying my husband’s student loans for more than a year. Unfortunately we’re doing reduced payments since we owe more than my husband currently makes in a year. I know that he wouldn’t have his current job if he hadn’t gone back to school, and he couldn’t have gone back to school without the loans. But it is still painful how long it will take to repay the loans.

  2. Sarabot0509 on January 30th, 2012 3:44 pm

    I agree completely

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