Mo' Money, Mo' Problems

So my student loan check arrived today. With the extra they gave me in private loans, added to the extra I get for being a junior, I’ve now doubled the amount I had in loans last year and it’s making me sweat.

When I ripped open the envelope, I was overcome with relief; my dental bills wouldn’t be late, my credit card can be paid off (and I’ll request a lower balance with USAA), I can pay down on the truck directly to the principle (and possibly lower my payments each month as a result), and I can start contributing more to regular household bills.

As I was headed to and standing on line at the bank I started to get nervous. The interest on student loans is radically lower than any other sort of loan or line of credit I could get, but I received a statement in the mail recently with what I owed before this year. I started adding everything together in my head and the total Nancee told me she owed between undergrad and graduate loans (and not even taking out the maximum allowed), and what I might rack up if I went to grad school. In comparison, purchasing a home doesn’t seem so out of reach any longer. In fact, it almost seems preferable. At least that way we’d be building equity in something.

As much as I think an education outside of high school is imperative – if not downright required to get a decent job anymore – I cannot believe how difficult it can be to get one. Being older, starting college for the first time at 28, may have helped me in being more motivated and focused, but it has definitely not helped in terms of bills. I can’t help but wonder how much I’d owe in loans if I had gone to college right out of high school . . . Well, considering I’d probably have flunked out within the first year, not much.

Oh, well. C’est la vie, right?


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