My Story

Recently I have obtained my Masters in Business from Carlow University of Pittsburgh. Previously I had obtained a Bachelors Degree from Indiana University of PA. Now some of you may think wow... that girl has her masters degree and she is only 25 years. Yes that may be the thought. However, what really happened was... I was too broke and didn't have a well paying job to afford my student loan payments from Sallie Mae. So I decided yeah I will go back to school. To avoid making loan payments. This a typical situation in this economy. Lots of students out there are graduating and not able to find well paying positions. So they do what I did. Now the debt is twice as bad. Please take my advise and do not do what I did. Have your employer pay for all your graduate education. That is the smartest choice. Now I have half of my loans in private loans. (which are horrible never get these loans) And the other half are federal which are much better. But still not great. However the laws protecting federal loans are more beneficial to students. More options and discounts for these loans.

Did anyone froma bank, the government or any lender of any kind explain your loan repayment terms to you?

Have you ever thought about that? When you applied for your student loan did you know what your repayment term was? A repayment term is how many years or payments you have to pay back your loan. When you applied, you were an 18 year old young adult. You did not think about such things. Instead you were pumped to go to college. Now after college you learn all about your loans. Which ones you have (federal or private) and what the interest rates are. This practice should be illegal! Is it? Has anyone asked this question? Now our country is OVER a trillion dollars in student loan debt!!! Politicians thought it was the lending practices for mortgages that were destroying this country... yes they may have played a huge role. However, they have failed to overlook the lending practices for these student loans. Especially PRIVATE student loans. Now we are all drowning!