If you have student loans, what year will they all be paid off?

I went to college during the fall of 1992, the spring of 1993 and the spring of 1994.

I paid my loans off in the year 1999. God help me had I decided to stay in school.

If the IBR plan where you work for a non-profit organization for 10 years ends up actually holding, then I should have my debt magically absolved in 8.5 years. If for whatever reason it doesn't work out, probably another 10+ years after that, depending on my income and the likely mortgage payment I'll be throwing on top.

Our magic date is September 2033. Only 20 more years to go.

i'm in the same situation as C-L. i'm about 4.5 years in, so if i can complete my 10 year term as an indentured public servant, i will have zero student loan debt by...2019.

otherwise, i am probably going the full 25 years, since my $600 monthly payments have yet to make a dent in the principle yet - it's just interest.

If the IBR plan where you work for a non-profit organization for 10 years ends up actually holding

i'm assuming that if changes were to be made to the 10 year public service loan forgiveness thing, that the changes would apply to all loans taken out after the changes were made. but perhaps that's a naive assumption. :-/

Just started an evening degree, finished in Jan 2015, loan paid up by sept that year all going well.

2012

Mozzeltov

uncalculated

i'm gonna pick some random year in the 40s just to be safe

thx mang, commemorative dn

xp

i'm assuming that if changes were to be made to the 10 year public service loan forgiveness thing, that the changes would apply to all loans taken out after the changes were made. but perhaps that's a naive assumption. :-/

― reckless woo (Z S), Thursday, November 7, 2013 1:40 PM (3 hours ago) Bookmark

Feel like you'd be grandfathered in

we paid off my wife's undergrad loans in... 2001? I think her grad school loans will be done in the next couple of years

Not sure but I graduate 10 years ago and I still owe like £9k. Money well spent.

ditto. my o/h who was at uni the same time as me has long ago paid his off.

It was 17 years before I paid mine off (and I only borrowed £700)

graduated in 2011, have paid off approx £42 of the nearly £30,000 I owe. LOL!

graduated in 2008, have paid off £0. \o/. don't owe a great deal tho, something like £12,000, for which i have to thank... the lib dems being part of a coalition government in scotland. did a good job flushing that good will down the toilet, didntcha.

I'm going to die with student loan debt

^^

i pay $56 a month - should be done by spring 2014 - only took out loans for the semester i did my master's thesis

graduated in 2011, have paid off approx £42 of the nearly £30,000 I owe. LOL!

― the Shearer of simulated snowsex etc. (Dwight Yorke), Friday, 8 November 2013 00:04 (28 minutes ago)

if you go into academia there's a good chance your eligibility for repayment of undergraduate loans will expire before all of that is repaid, especially if the student loan book is eventually sold off and they increase interest rates (political suicide right now but it could happen)

i know embarrassingly little about my student loan situation other than i have one private loan i have to pay off every month. the rest i deferred until i ran out of that and now i forbear, have no idea what i'll do when i run out of that. i catch the interest i accrue occasionally and it's like thousands of dollars. i work for a state public university, i've heard of this ten-year forgiveness thing. is it for real?

It was introduced less than 10 years ago, so nobody has had their loans absolved from it yet. But if you are in one of the payment plans that applies (IBR, the regular monthly one, and something else?), the stated plan is that 120 payments with missing one while working for a not-for-profit organization (fun fact: this includes basically every teaching hospital, so 99% of medical residents have between 3 and 7 years covered, which are incidentally the years in which we are not making "fancy doctor money" so much as "lower-middle to middle class money" that occasionally approaches minimum wage on a per-hour basis) will result in absolution of debt. For me this means something around half of my debt principal (which is 300k, none of which is undergrad or non-medical grad) would be absolved, which is why I cannot fully believe until it is gone.

*Without missing one

cool, thanks for the info. next step is negotiating an ibr i guess.

Automatic thread bump. This poll is closing tomorrow.

I should have had the poll end when my loans are finally paid off.

Paid off undergrad in 97, paid off grad school in 99. I hate owing anyone money. Also I'm old.

I don't even know right now. But I'm bumping my FTE at work up from .5 to .8 so that I can pay the loans down much more quickly.

Of course part of the reason for that is that my oldest child is in tenth grade now so then I will want to pay for him to go to college...

UGH

At current payments I reckon mines will be paid off in 2025. I graduated from my undergrad in 2004 and from a grant-funded MSc the following year. Didn't start making payments til summer 2012.

I think I optimistically chose '2015', but having checked I've still got £5.5k to go so maybe 2016. Graduated in 2004, and was making (admittedly tiny, at first) repayments as of February 2005. My wife suggested that, when we make our final payments of student loan, we start putting that money into savings as "we won't miss it". I've been 'missing it' for nearly 10 years dammit!

Beginning of 2015 I think, although I ended up deferring mine for years and only really started paying it back in 2010. At times I've thought about just paying off the remainder in one go but that's probably insanity.

Ours should just be paid off before our kid goes to college. She better pay her own damn way though.

Or chose not to go to college, which is 100% ok.

Automatic thread bump. This poll's results are now in.

income-based repayment is a lifesaver

I just sent in the paperwork today to change the period of my loans to 25 years. Hopefully I will pay them off before the full term, but we'll see.

What were they?

https://petitions.whitehouse.gov/petition/retain-public-interest-loan-forgiveness-program-its-current-form-forgiving-all-qualifying-student/wkqnqBCH

Just started an evening degree, finished in Jan 2015, loan paid up by sept that year all going well.

― midwife christless (darraghmac), Thursday, 7 November 2013 21:47 (1 year ago) Bookmark Flag Post Permalink

July 2015 fyi

Just made my last tuition payment possibly ever!

Now for a job, that would be good.

hooray for us imo

I'm only 18 years away now !

Big news, just consolidated. Better interest rate, knocked 7 years off of the payback period, will save over 30K overall. 10 years now, but the end is in sight. Big party in July 2026.

Congrats? Sort of?

Pretty happy about it. It actually is through Sofi, in partnership with my employer, so we probably got a slightly better interest rate than we would have otherwise.

as with all debt, I'm planning to drop dead the day I don't feel like paying it anymore

i have two federal loans; one subsidized, one unsubsidized. both have been paid as one monthly payment the whole time i've been paying (since september 2010), with the servicer responsible for allocating the payment to each loan. incidentally, the servicer has changed like 4 times and the first couple seem to be out of business. i should be eligible for forgiveness in january 2021 imo (had a few administrative forbearances for paperwork reasons). fedloans has always said i am eligible for one in april 2021 and one in january 2022. now they have a new tool that tells you which of your payments is ineligible and why. TEN of my payments on the smaller loan were logged as "outside window," meaning paid greater than 15 days late. they were fucking autodebited! ARGHHHHHHH

i have five payments left. that's twelve years of payments for one year of grad school.

I left the country where I owed money - only a few thousand dollars - and they don't chase me up on it, and it doesn't affect my credit where I live now.

*notifies interpol of "jim's" whereabouts (he's in vancouver)*

I died 3 years ago. Shh.

i think i have located the source of the problem. in august 2012 my servicer sent me an email saying, essentially, "sorry we sent you a letter saying you were in the wrong repayment plan. that was our mistake! oopsie." august 2012 is the last month eleven months of error. it looks like instead of going back and fixing all ten erroneous payments they just recorded one big payment in august to even everything out. i also found my gchats from that time telling my friend i needed to call the student loan company, they must have sent me a huge bill. good accounting, guys. the next month the servicer changed.

I'm at the point where, due to not being in paid employment rn, it's hard to tell whether it's better to make a few payments to keep interest down or just leave it to get written off in 11 years.

Been paying back my loan for nearly 20 years and still have about £2.5k to go. I only borrowed around £12k and I’ve been in full time employment for almost the whole time since I left uni, so I don’t really get it

Big news, just consolidated. Better interest rate, knocked 7 years off of the payback period, will save over 30K overall. 10 years now, but the end is in sight. Big party in July 2026.

congrats!! that will be a huge day

i'm about 4.5 years in, so if i can complete my 10 year term as an indentured public servant, i will have zero student loan debt by...2019.

otherwise, i am probably going the full 25 years, since my $600 monthly payments have yet to make a dent in the principle yet - it's just interest.

― reckless woo (Z S), Thursday, November 7, 2013 12:39 PM (seven years ago)

since then, i quit my public job, and the amount that i owe is still pretty much the same as it was back then. during the pandemic, and since, as the payments have been deferred without interest, i have to remind myself that normally i'm supposed to be paying another $700 and it's been a temporarily relief to not do so

4 given

https://hosting.photobucket.com/albums/v617/WidowOfDestiny/Jiggle_Panda.gif

https://hosting.photobucket.com/albums/v617/WidowOfDestiny/Jiggle_Panda.gif
shake students for their remaining cash
https://hosting.photobucket.com/albums/v617/WidowOfDestiny/Jiggle_Panda.gif
shake their legal guardians for their remaining cash
https://hosting.photobucket.com/albums/v617/WidowOfDestiny/Jiggle_Panda.gif
shake yourself into another dimension which doesn't have cash
https://hosting.photobucket.com/albums/v617/WidowOfDestiny/Jiggle_Panda.gif
wait, like my dimension i guess

feeling very rich rn

Our magic date is September 2033. Only 20 more years to go.

― Jeff, Thursday, November 7, 2013 12:38 PM

It happened, finally. My secret was sending them a lot of money every month for the last 10 years. Eventually, it was enough.

Congratulations

congratulations, jeff!