Hatrack River Forum: Grumble!

This is topic Grumble! in forum Books, Films, Food and Culture at Hatrack River Forum.

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Posted by King of Men (Member # 6684) on :

I hate paying back student loans. 813 dollars is highway robbery! They gave me that money fair and square, they've no right to demand it back!

[Grumble]

Posted by Kwea (Member # 2199) on :

heh, I figured someone had included you in their prayers again or something. [Wink]

Posted by King of Men (Member # 6684) on :

Hah. Well, come to think of it, one advantage of having a loan is that you're guaranteed someone will be sad if you die. Get even, die in debt!

Posted by Krankykat (Member # 2410) on :

Umm... they "gave" you a loan? You might have to really worry when the loan police drag you to your alma mater and grind your knee caps on the pavement in front of the administration building.

Posted by Synesthesia (Member # 4774) on :

I know how that goes... I too dislike student loans. Especially the way they hang over my head when I have to pay rent and other bills.

Posted by King of Men (Member # 6684) on :

And, to make matters worse, I'm paid in dollars, which have been dropping precipitously against the kroner that the loan is in. Double grumble.

[Grumble]

Posted by Blayne Bradley (Member # 8565) on :

kroners? i thought you lived in the states why did you withdraw a loan in norweigian currency?

Posted by Bob_Scopatz (Member # 1227) on :

KoM:

What's the interest rate?

Do they have deferment programs where you come from?

Posted by King of Men (Member # 6684) on :

Interest rate is 3%, ish. I don't understand what you mean about deferment. And I took the loan when I was studying in Norway.

Posted by Bob_Scopatz (Member # 1227) on :

In the US, there are ways to defer repayment under certain conditions. I don't know them all, but I think if you go on to grad school or advanced training in some fields, then the loan doesn't have to be repaid on schedule.

Also, 3% is sort of typical -- it's very very low. About the cheapest money one can borrow is in student loans. It makes it tough to refinance them to a "lower" interest rate, for example, if your payments are too high.

But, yes $813 a month is extremely high for someone fresh out of school, first full-time professional work and all.

It does seem excessive.

How bad has the dollar devaluation against the kroner gotten since the time period when you took out the loans?