This blog is not intended to provide legal advice, legal services or legal anything else. Don't sue me. All I have is debt anyway.

Tuesday, February 2, 2010

Prepare for Successful Repayment a/k/a Prepare for Constant Contact from Your Student Loan Collectors

It is ridiculous how many emails and paper documents I get each month from the student loan people. It isn't bad enough that somewhere around $1100 comes out of my bank account a month to pay for my way overpriced diplomas, but then they have to constantly contact me to remind me that I'm in debt for pretty much the rest of my life. Just take my money and leave me alone, seriously. Every correspondence I get from them stresses me out.

I don't know what it is, but I just cannot seem to do anything but live paycheck to paycheck. I have a strict budget, I spend very little money frivolously these days, and yet, I'm still broke. I don't get it. Like this month, I had to pay my life insurance premium, my car insurance premium, our AAA membership dues, yet another baby gift, and a birthday gift for Husband. Next month, I have a bridal shower gift, a wedding gift, a dentist appointment (I don't have dental insurance), and a new box of contact lenses. It's like that every month, just constant expenses that pop up. It's not like they're totally unexpected; I mean, I know I have to pay car insurance in February. But add that onto student loans, rent, utilities for two residences, cell phone, gym membership, child care, gas money, and food, and I'm barely making it. It's ridiculous. I know it would be a lot better if not for the credit card bills, but at this rate, I'll be a long way from paying them off. It'll also help once winter is over and I'm not getting double hits from heating bills.

Anyway, I knew what I was getting into when I decided to go to law school and take out crazy amounts of student loans to pay for it. I just thought I'd still have money left over after the loan payments to at least buy a pair of pretty shoes. Wrong! And I actually get a real salary, not the public interest salary. So, keep that in mind before you end up $175,000 in debt. Life decision fail. Good thing I really love what I do, because it would have been financially smarter to have never gone to college, and just kept my $35K/year job as a secretary.


Cee said...

oh man, I get 7 account statements each month for my loans- it's ridiculous how many tress they kill. My student loan payments will be more than our mortgage payment once I start work- I'm still in shock about that one.

Is your husband in school? Does he make a paycheck to help out? I'd be in trouble if it wasn't for the fact that we will be a double income household.

Proto Attorney said...

Husband's salary recently got cut by the hospital, so I've been picking up most of the auxilliary expenses. He pays the mortgage, his personal expenses, and Cora's daycare in Lexington. Plus, if we eat out, he usually picks up the tab. We should be in much better shape once he finishes school in May, and gets a job as a nurse practitioner, *hopefully* making more money than he would as a nurse working full time. Then he can take up more of the expenses I've been paying so I can start to dig myself out of debt.

If I can just get the credit cards and the private loan paid off over the next 5 years, I will feel like a millionaire!

Yes We Candles said...

If you weren't married yet I'd recommend that you should date black guys, my girlfriend is just your average white girl in law school and she swears I have definitely relieved her of a lot of stress LOL! Just a tip!

Googie Baba said...

Hi Proto Attorney, thank you for your comment on my blog. I emailed you a couple questions about it. Thanks!

PT-LawMom said...

Imagine if you had to pay that shit with no law school payoff? Grrr. That said, a good 60% of my classmates who made law review and switched to full-time have no offers with graduation looming in May and they are in a large city at a T2 law school. Scary... So I pay that monthly bill happy that I got out while I could (financially, at least).

Rayne of Terror said...

I paid my students loans faithfully for about 2 years while I was employed. Then I called my lender to find out about a deferment or something similar during my current extended maternity leave / job switch and was shocked when they told me that my income as an asst atty general was considered low enough to be in deferment even WHILE working.