All student loan companies can go to hell.

[reuber1]

OK, in what has been the new, unnecessary stressor in what is my "life" is the wonderful world of student loans. In five semesters I raked in over $30,000 of student loan debt that is being issued by three loan providers...my direct providers (Iowa Student Loan...8.4% int rate), a family provider (Nelnet...3.8% int rate), and the government (US Dept of Education via William Ford loan...3.37% int rate). My monthly bill on loans alone is around $360, which is a lot compared to the amount I'm making. Initially I thought I could handle all of the payments "as is" and not have to deal with consolidation because I figured it would be a hassle, but everyone has been telling me how "easy" it is to do this, and considering how little I'm making I figured what the hell and went for it.

I went to consolidate through my direct lenders...mistake #1.I get a call from them about two weeks after consolidation to find out that they can't consolidate all of it at once because one of the providers is the government, so they have to pay that in full first before they can even touch their own or the Nelnet one. They said this could take up to four months. So I call Nelnet and it turns out not only can they postpone any payments through July, but from what the advisor told me is that if I applied for consolidation through them it would void my ISL consolidation and get a lower interest rate.

So I consolidated through Nelnet...mistake #2. Today after working 5 a.m. to 5 p.m., tired as hell, I come home to two bills from ISL...one for $50 and another for the usual $167. I call Nelnet and ask why I'm still getting billed from ISL still and turns out nothing has changed since, and that the first consolidation cannot be voided just by applying for a consolidation through them, although that's exactly what the goddamn advisor said can happen. Getting no answers from them, I call ISL and they tell me that they've only consolidated the government loans, which is really helpful considering that there was only one small payment to be made through them, but now that that has been consolidated I'm paying more on that alone because of a different interest rate (it went from $1,000 to $1,080...thanks for nothing *******s). They say that I should call the government loan providers to see if they can "take back" their old loan, which is where I'm realizing that everyone is full of sh!t.

So I call the US Dept of Educations direct loan services, get a hold of some b!tchy hag who sounds like she hasn't been laid in months, drilling me about why my area code has changed in thethree years since I applied for that loan, only to get transferred to a consolidation rep, who sounds like she was hired off the street (which pisses me off more about my ownjob hunting plight), basically telling me in a flippant matter that I can't just do that I would have to totally reapply for the loan, which is around the same time when I hung up, whipped the phone across the room, slammed my fist in the table, and kicked my bedroom door in. Awesome.I hate student loans, I hate the process of applying for them, I hate dealing with financial aid advisors from lenders, I hate dealing with paying for loans, I hate not having a job in the GD field, I hate working on my goddamn portfolio after work, and I'm really starting to hate life in general.

http://www.graphicdesignforum.com/DesktopModules/dotNetBB/emoticons/mad.gif

"Nicotine, Valium, Vicodin, Marijuana, Ecstasy and Alcohol..."
"Nicotine, Valium, Vicodin, Marijuana, Ecstasy and Alcohol..."

[EC]

Been there.

Hang on grasshopper, it does get easier, I promise you. ;)

[Patrick Shannon]

Yikes yikes yikes....$360 a month? My car payment isn't even that.

Student loans are the one thing that's been real good to me, I have a 4% APR and only have to shell out $50 a month....in general, my total bills from college, car and other debt probably equal about $15,000. I used to think that was bad, but based on what I hear here along with what my friends have to pay in college and car bills, I guess that's not so bad after all. If I had a better paying job, I bet I could have most of that shaved off by the end of one year.

Keep at that portfolio, it will eventually pay off.

Patrick Shannon

'Dear valued customer, go home and die. Signed, your friendly graphic artist.'

http://www.patrickshannon.com/mwwc_sm.gif
My War With Culture (http://www.mywarwithculture.com)
Political incorrectness reinvented.

[greyghost]

OMG, that's awful!

Here's an idea - just declare bankruptcy! It'll only hurt you for 8 years, but no debt, and after that you are all clear as far as getting loans and all that.

BTW (and not to improve your mood any, sorry) but consolidation hurts your credit, it's seen as a step above bankruptcy. Like that last cry for help.

when it comes to certain clients, remind yourself:
You can lead a horse to water, but you can't make him drink.

I'm an ARTIST, not a MAGICIAN!

[UmmYeahOK]

think student loans suck? wait till u get a mortgage

This life is a test. It is only a test. Has this been an actual life you'd have received better instructions.

[morea]

^ AMEN TO THAT!!!

We are one, our cause is one, and we must help each other if we are to succeed. ~ Frederick Douglass

[greyghost]

Mortgage is better than paying rent. I went from paying $550/month for a 2br apt to paying $450/mo for a 2br house when I bought my first home.

It also gives you a tax write-off (actually, come to think of it, isn't the interest on student loans deductible too?)

when it comes to certain clients, remind yourself:
You can lead a horse to water, but you can't make him drink.

I'm an ARTIST, not a MAGICIAN!

[paulrandfan]

It is deductible, as I found out this year doing my taxes:)

Reubs, man I feel you. My payments are $200 a month. $150 of that is through federal, and the $50 is from some cash loans I took out because the last two semesters of school were to hectic and it was hard to work full time and go to school full time sometimes. I didn't consolodate, but I ended up getting a deal where if I pay on time for 30 months on the federal, they will deduct some of amount acrued by interest, which is cool. All in all I have $15,000 so I didn't get off too bad.

Be glad you aren't my best friend. He went to architecture school (5 year program he has completed in 6 years) and he will have over $100,000 in loans...that's a lifetime investment....


Don't worry, you've got us...we'll get you through it. Emma and I will continue to watch the want ads down here in columbia

'To Design is much more than simply to assemble, to order, or even to edit; it is to add value and meaning, to illuminate, to simplify, to clarify, to modify, to dignify, to dramatize, to persuade, and perhaps even to amuse.' --Paul Rand

[wienerdog]

Your student loans sound like one hell of a complicated mess. I hate that, and when you try to talk to people to explain these problems, you feel you have to make the same 20 min speech with people and get nowhere. Same kinda thing happened to me with unemployment benefits.

Have you tried calling around other companies and see if their customer service is any better? I get notices from NelNet all the time. Not sure if it's them but I get ads disguised as 'FINAL NOTICE' in bold red, trying to scare you into opening their unethical marketing gimick. I shred those ads with PLEASURE.

My loans are through American Education Services at $50/month and I consolidated a couple loans a couple years ago and have a Sallie Mae account a $114/m, which will escalate over time.

When I pay off my loans, I'll have to start saving up for my kid's college, if I ever can afford kids.

wiEnerDog
Weinerdog Graphics - My portfolio site! (http://www.wienerdoggraphics.com)

[paulrandfan]

I thought that the other day wienerdog,...will I ever be able to afford kids? Probably not...and by the time I'm financially capable, do I really want to strap myself down with another financial responsibility...no...

'To Design is much more than simply to assemble, to order, or even to edit; it is to add value and meaning, to illuminate, to simplify, to clarify, to modify, to dignify, to dramatize, to persuade, and perhaps even to amuse.' --Paul Rand

[greyghost]

My husband and I are not having kids. They cost too much these days.
Our two mutts are enough.

when it comes to certain clients, remind yourself:
You can lead a horse to water, but you can't make him drink.

I'm an ARTIST, not a MAGICIAN!

[morea]

I am not having kids either. I have 9 cats... that's plenty!

We are one, our cause is one, and we must help each other if we are to succeed. ~ Frederick Douglass

[Patrick Shannon]

> BTW (and not to improve your mood any, sorry) but consolidation hurts your credit,
>it's seen as a step above bankruptcy. Like that last cry for help.

> Mortgage is better than paying rent. I went from paying $550/month for a 2br apt to
>paying $450/mo for a 2br house when I bought my first home.

> It also gives you a tax write-off (actually, come to think of it, isn't the interest
> on student loans deductible too?)

I never knew all that....this forum is good for everything, huh?

By the way greyghost, I now nominate you as my new financial consultant. /DesktopModules/dotNetBB/emoticons/biggrin.gif

Patrick Shannon

'Dear valued customer, go home and die. Signed, your friendly graphic artist.'

http://www.patrickshannon.com/mwwc_sm.gif
My War With Culture (http://www.mywarwithculture.com)
Political incorrectness reinvented.

[greyghost]

I don't think I'm ready to be a financial consultant. But I have spent a good amount of time trying to figure out how credit scores are calculated. There really is no rhyme or reason to it, I've decided. And some of it is downright stupid (my score went down 30 points because I opened a new checking account).

when it comes to certain clients, remind yourself:
You can lead a horse to water, but you can't make him drink.

I'm an ARTIST, not a MAGICIAN!

[UmmYeahOK]

actually kids r ok

u stick them by the roadside and make em sell lemonade, or beg. it pays off really.

This life is a test. It is only a test. Has this been an actual life you'd have received better instructions.

[paulrandfan]

I'm torn...I feel a civic responsibility to have at least one child. I was discussing it in another board,...and if 'some' certain minded people are having eight children, then I have to have at least one atheist child.

'To Design is much more than simply to assemble, to order, or even to edit; it is to add value and meaning, to illuminate, to simplify, to clarify, to modify, to dignify, to dramatize, to persuade, and perhaps even to amuse.' --Paul Rand

[reuber1]

******* loan company update! Got a bill from the one loan providerthat my direct lenders did consolidate...turns out they paid it in full after the other lender sent my bill, so now I have $400 this month..............Hooray! And I didn't even have a chance to get the astro glide for this one!


"Nicotine, Valium, Vicodin, Marijuana, Ecstasy and Alcohol..."
"Nicotine, Valium, Vicodin, Marijuana, Ecstasy and Alcohol..."

[reuber1]

On the topic of kids, I promised myself after work tonight to never have them...ever. I'm not talking babies, infants, toddlers; no, I'm talking about those ages 5 - 14. Kids get away with too much these days, and their parents don't do sh!t about it. I think it's high time that parents apply a couple of random "five across the eyes" to keep the kids in check nowadays; they'd never know what hit them, and will check their attitudes from then on.


Needless to say I cannot afford kids, but I can afford abortions.

"Nicotine, Valium, Vicodin, Marijuana, Ecstasy and Alcohol..."
"Nicotine, Valium, Vicodin, Marijuana, Ecstasy and Alcohol..."

[paulrandfan]

it's becomming more and more common for people our age to opt out of kids...I think it's because it's harder for us now than it was for our parents, and by the time we are free and clear of horrendous financial debt from college, we don't want to strap ourselves down. and because of the economy, our jobs starting out pay crap, as we've seen.


my cats are kids enough.

'To Design is much more than simply to assemble, to order, or even to edit; it is to add value and meaning, to illuminate, to simplify, to clarify, to modify, to dignify, to dramatize, to persuade, and perhaps even to amuse.' --Paul Rand

[BOSCOW]

450 mortgage payment, where do you live?
That is outrageously cheap, or a really really cheap house.
How much was the house?

'No Lois I am not drunk, I am exhausted because I have been up all night drinking.'

[morea]

I dunno if it is socially acceptable to ask that in a public forum, Boscow... /DesktopModules/dotNetBB/emoticons/lol.gif

We are one, our cause is one, and we must help each other if we are to succeed. ~ Frederick Douglass

[greyghost]

BOSCOW: That house was in a smallish town called Dade City, about 4 years ago. And it was ugly. But we got it for 44K, gutted it, put 12K into it. We sold it for 115K about a month ago. Real estate bubble in FL made us some cash.

You can find the deals. I may be living in an ugly house now: but my new mortgage payment is $350. lol.
My new home is 2br/1ba house, with a large unfinished attic, with a detatched 1br/1ba apartment in the back. Another small town, in GA this time. We're gutting the apartment so it'll be nice when we gut the house. Right now I'm living in the house, and it is rather disgusting. I mean, I'm waiting for the toilet to sink through the rotten floor! YUCK!!!

You DO get what you pay for. But if you fix things up yourself - you too can get a home and an apartment for 39K, put 20K into it, and have a nice home you only owe 32K for (we put 7K down).

when it comes to certain clients, remind yourself:
You can lead a horse to water, but you can't make him drink.

I'm an ARTIST, not a MAGICIAN!

[Patrick Shannon]

(taking more financial notes)

Patrick Shannon

'Dear valued customer, go home and die. Signed, your friendly graphic artist.'

http://www.patrickshannon.com/mwwc_sm.gif
My War With Culture (http://www.mywarwithculture.com)
Political incorrectness reinvented.

[BOSCOW]

30-44k for a small house, god I wish that would happen here, I would be rich if I had a 400 dollar mortgage payment.
Lol my rent payment is 750, which is almost a mortgage payment around here,they usually run around 800 to 1500 for a 140,000-300,000 dollar house or townhome, condo etc.,
getting a house when lease is up in sept. cant wait for that day

'No Lois I am not drunk, I am exhausted because I have been up all night drinking.'

[greyghost]

Boscow: where are you?
Search Realtor.com, try for smaller towns around you (if there are any). Watch the little 'shopper' papers too.

We found this house by accident - we were looking at the nice, well kept 3bedroom next door for 85K. Big shed. Nice sunroom. Good wood floors. Loads of light. Nicely landscaped, immaculate. Could have moved right in (sometimes I really wish we had...) It needed new electrical eventually, and a fence, and some cosmetics to the interior. That's it. Anyways, there was no sign on this house, but the detatched apartment is 4 feet from the property line - it was gray and suspicious looking and the door was wide open. It looked like a drug hovel. The house has good curb appeal, and the layout of the interior is nice, it just needs a lot of work and some restructuring to the joists (there are half as many as there should be). It turned out it's a bank foreclosure, wasn't on the market but a day before we had our offer in. Our realtor didn't even know it was for sale - we just saw it in the paper later that night.

when it comes to certain clients, remind yourself:
You can lead a horse to water, but you can't make him drink.

I'm an ARTIST, not a MAGICIAN!

[idaho]

For those people thinking about doing what Greyghost is doing...keep in mind, remodeling is not for everyone. Some things to think about with remodeling:

It's a ton of hard work, especially if you've never done it before.
You can kiss your weekends GOODBYE until it's finished.
Don't half-ass do the jobs either. Potential buyers will notice.
It can be expensive as hell depending on what you do. Bathrooms and kitchens can be high dollar investments but will ultimately be what sells a house.
If you buy a house (my personal opinion) avoid anything that needs major structural work like the foundation needs replaced, the floors are rotting out or it needs a new sceptic system.
location, location, location. Look for houses that need a little work but are in areas where property values are on the rise.

We found a nice little 1300sf home for 80k that was out-dated cosmetically and needed the kitchen and bathroom redone. We put $3500 in the bath, $6000 in the kitchen and some paint and paper elsewhere and will most likely be able to sell it for $120-130 in about 2 years.

Just do your homework before you start.

-Idaho
'You want it when? Ok, no problem. Excuse me while I pull the magic wand out of my ass!'

[Senior Button Pusher]

yeah buying a house is the way to go. reanting is good just to save up for a house. renting for an extended period of time is a waste of money

[idaho]

greyghost said...
OMG, that's awful!

Here's an idea - just declare bankruptcy! It'll only hurt you for 8 years, but no debt, and after that you are all clear as far as getting loans and all that.



I hope you're kidding about this? Bankruptcy is not a very good option.

-Idaho
'You want it when? Ok, no problem. Excuse me while I pull the magic wand out of my ass!'

[greyghost]

idaho: yes I was kidding. But not by much - as I said before, loan consolidation hurts your credit almost as badly as a bankruptcy would.

Good points about all the hard work in remodeling. My hubby and I have always bought fixer-uppers, but we also know what we are doing. This is our fourth & fifth remodel together, and we have gradually expanded to taking on more difficult projects. Our first one was structurally great, just ugly, and needed everything torn out down to the studs. But the foundation was great, the location was good, etc. The next one had a few rotten floors, major termite damage, needed a new drain line for the septic, had roof damage, etc. But we got it cheap and went ahead with it. Then we had a minor one. Now our new home needs some restructuring - the house has settled and needs jacking, and it also needs more floor joists put in, and new subfloor throughout (they used particle board, I hate that crap). New windows might also be nice. Then we're redoing the upstairs. The apartment that came with the house is currently gutted - but it needs everything.

If you do go this route, pick an ugly but sound and livable (if you had to) place. And take someone who understands construction with you.

This route for us right now is very rough - but we actually have enough money from previous transactions to pay the home off, AND still fix it up real cute.
But to me it is fun - I like knocking out studs and putting in new ones. I like learning about plumbing and framing and some electrical, and tile and drywall, etc.

Keep in mind too - even minor bathroom remodels have been known to ruin marraiges. ;)

when it comes to certain clients, remind yourself:
You can lead a horse to water, but you can't make him drink.

I'm an ARTIST, not a MAGICIAN!