$17,935 in student loans and I don't have a degree

[Home4Me2012]

For the last 4 years I have gone to school on again and off again (when my schedule allowed it). I never paid attention to my student loans, I used the extra payments to pay bills, things like that. Now I wish I never went to school, it has not helped me at all. I have $17,985 in student loans (none are behind) and I don't even have a degree to show for all of this money. In fact I am only 1/2 way through my credits towards a degree.

 

I know the best thing I can do right now is pay these loans off, but it sort of depresses me that I am in that kind of debt and don't have anything to show for it.

 

M

[sully1975]

How many credits did you get? What majors did you chase?

[Home4Me2012]

How many credits did you get? What majors did you chase?

 

I have 32 credits of the 60 I needed. I chose a criminal justice degree, but if I were to go back I want to change to a teaching degree. However, at this time I am not going to go back to school until I have the debt taken care of.

 

M

[road2freedom]

Does that mean you are at least close to getting your AA? If so, at least get that.

[Home4Me2012]

Does that mean you are at least close to getting your AA? If so, at least get that.

 

 

I am 28 credits away from my AA. I know I need a degree but at this time I don't want any more debt. I will go back once I get some of this paid down and can pay cash for classes. Also, this was University of Phoenix online, so I will need to take several classes over as their credits don't always transfer.

 

M

[sully1975]

Well, does your school that you went to accept CLEPS or DANTEs? I ask because you might be able to flesh out your degree and skimp on a few classes if you have the knowledge already.

 

http://clep.collegeboard.org/exam/

 

http://www.getcollegecredit.com/

[sully1975]

I recall seeing someplace that maybe University of Phoenix or one of those type of schools has something like a clep or an exam for credit. Maybe it was Strayer or whatever? Of course I did not bookmark it.

[Home4Me2012]

They do offer CLEP testing but sadly I do not have the smarts for it. I have thought about getting a few CLEP study books and work on that until I am able to go back to school. I really don't know what I want to do. Right now I am a full-time caretaker to my disabled husband as well as our kids. Working isn't an issue, but I know one day I will want to do something (or need to do something).

 

M

 

 

[deadsosoon1776]

For the last 4 years I have gone to school on again and off again (when my schedule allowed it). I never paid attention to my student loans, I used the extra payments to pay bills, things like that. Now I wish I never went to school, it has not helped me at all. I have $17,985 in student loans (none are behind) and I don't even have a degree to show for all of this money. In fact I am only 1/2 way through my credits towards a degree.

 

I know the best thing I can do right now is pay these loans off, but it sort of depresses me that I am in that kind of debt and don't have anything to show for it.

 

M

 

I am 33 k in student loans and no degree

[Home4Me2012]

 

I am 33 k in student loans and no degree

 

 

=( It is depressing isn't it? I know I chose to go to school. I chose to take out those loans. So I only have me to blame for this mess. I still think it sucks though.

 

 

M

[road2freedom]

Does that mean you are at least close to getting your AA? If so, at least get that.

 

 

I am 28 credits away from my AA. I know I need a degree but at this time I don't want any more debt. I will go back once I get some of this paid down and can pay cash for classes. Also, this was University of Phoenix online, so I will need to take several classes over as their credits don't always transfer.

 

M

 

You and I are/were in similar situations. I went part time because my career was more important. I started at a state college and was irritated with class availability during nights/weekends so I transferred to to University of Phoenix. That's where most of my student loan debt came from. After a year or so there I was getting aggravated with the quality of classes so I transferred to a local Community College. Going part time seemed to take forever. I can't tell you how many classes I had to drop due to business travel and crazy work hours. I finally finished my AA a couple of years ago and still have about 12k in SL debt after being in repayment for a few years. I've yet to be turned down for a job that I wanted for not having my degree, but know I needed to at least get something to show for my time and $$ that I'm still paying. I intend to finish my Bachelors in the next couple of years but I'm not sure if I want to stick with Economics or not. IT seems to be a better fit these days.

[sully1975]

They do offer CLEP testing but sadly I do not have the smarts for it. I have thought about getting a few CLEP study books and work on that until I am able to go back to school. I really don't know what I want to do. Right now I am a full-time caretaker to my disabled husband as well as our kids. Working isn't an issue, but I know one day I will want to do something (or need to do something).

 

M

Depending on the test, some people passed it with a dummie's or salamander's guide for that subject area. There are also a few educational series like mathtutordvd that is very respectable as well as Standard Deviant's series. Look first in your library or see if they can be borrowed from an inter library loan between two of them. Look around for used copies as well and especially on VHS for Standard Deviants.

 

Your local county college may offer free "testing" for a Standard interests inventory test. I took one in 1993 and another in 2002 or so. Personality typology may also narrow your wide open choices to a more tolerable profession for you.

 

 

[Fixin It Up]

A little OT, but 32 of 60 credits of an AA essentially means the equivalent of 2 years (approx 8 classes). Does Univeristy of Phoenix charge (or does it cost, with books) $2,300 per class(4 credit class)? Seems rather high since I know of Ivy League institutions that charge $4,200/class and other Private or State colleges that charge less than $2k. I might have missed something though...

[Cactus Flower]

A little OT, but 32 of 60 credits of an AA essentially means the equivalent of 2 years (approx 8 classes). Does Univeristy of Phoenix charge (or does it cost, with books) $2,300 per class(4 credit class)? Seems rather high since I know of Ivy League institutions that charge $4,200/class and other Private or State colleges that charge less than $2k. I might have missed something though...

 

 

U of P is expensive. The folks I know going, go on a tuition assistance from their employer, because while it doesn't cover all of it, it covers a good chunk.

 

Honestly the place I work, doesn't put a lot of merit on places like U of P, they would rather see a state University.

 

YMMV

[cputrwz]

Don't feel bad I have 100k in student loans. Your work doesn't help pay for any of the tuition? You can't get any scholarships or grants? Education is not cheap and honestly 17k for half of your degree isn't that bad. You've already put 17k into your education, I would think you should go ahead and finish.

[qwerty4]

How many credits did you get? What majors did you chase?

 

I have 32 credits of the 60 I needed. I chose a criminal justice degree, but if I were to go back I want to change to a teaching degree. However, at this time I am not going to go back to school until I have the debt taken care of.

 

M

Obviously this isn't ideal, but it could be much, much worse. Depending if these are private or not, if you go into teaching be sure and look into loan forgiveness programs that enable your student loans to be wiped if you pay for a certain length of time and teach in certain areas.

 

It's far better you realize this now than waking up Ina few years with no or a low paying degree and 100k+ in debt.

[xelda]

I recommend finishing the degree first, then using that to leverage yourself for higher income. Skip the Associates and aim for a Bachelor's. Is there a local community college you can attend? They are much better about having night/weekend classes, and the price is more affordable. Plus, it will be easier to transfer credits.

 

You could spend years putting off that degree if you focus on paying off the debt first. It will only get harder and more expensive the longer you put it off.

 

I got through school by waiting tables (which guaranteed being able to pay my bills) plus a couple of extra side jobs on campus. It took me ages, but I would not have my dream job today if I had not chosen that route.

[johnny5]

I'd really recommend you look into a community college, stage school, ETC. The credits will transfer easier in the future and most times they are more affordable.

 

In the end it all depends on what your chosen field will be and where you talents are, but if that field needs a degree to be successful or even enter the field you should focus on it sooner than later. If you keep putting of education until you can afford it you might never get there.

 

Personally i tired doing the career + college at the same time for several years, I never really made a lot of head way in ether due to my split attention. At one point I decided to quit my job, moved across the country to attend one of the best schools for my field and focus on being a student 100% of the time. During my sophomore year i managed to take on some smaller on campus jobs, these jobs eventually lead to me being hired by the college full time and my senior year was free due to being an employee. Eventually I got the job offer I had been dreaming about left the college about a year after graduation and could not be more happy today. However I'm 99% sure had I not taken that leap of faith and gone for education I would not be where I am today. Obviously everyone has to make their own choices but today I'm around $35k in student loan debt, but I love my job, my life, and I'm making double-tripple payments on those student loans to get them knocked out ASAP.

 

All that being said its pretty ridiculous the amount of student loan debt you can rack up in college and not truly understand it. However its no ones fault but my own for my student loan debt and its my responsibility to pay it back, no one ever lied to me or tricked me into it. I know 100% of the blame for my student loan debt rests on me, however I'd really like to find a way to help future students understand the ramifications of the debt and the massive amounts of money you can save by doing little things like paying interest in school, living on a tight budget so you can return some of that excesses loan right away, making early payments when you have excess money in your budget, etc.

[syncracirca]

I spent 20k on student loans getting my A.S. Took me from $10/hour to $18/hour, then within a year of graduating $23/hour. Hang in there and finish what you started.

[moni08]

I think you should stop focusing on the trees and look at the forest. Finish your degree. I would feel WAY worse to have that debt and no degree. I would try every avenue that I could to get grants, scholarships, etc.

I received my AA from UOP because it was convenient but once I realized how much I was paying I said screw convenience and transferred to a University.

 

College is what you make of it, so don't feel like it is a waste. It will only be a waste if you don't finish what you started.

Contrary to popular belief about UOP a degree is better than no degree, especially if you are in the workforce and don't own your own business.

ETA: you should definitely look into Clep before you rule it out. WAAAY cheaper than a UOP course.

Edited July 4, 2012 by moni08

[schizcat]

some people have twice this much and have a degree but no job to pay them back

[Home4Me2012]

U of P was convenient for me because my husband was deployed a lot or training and taking care of the kids with no help left little options. It is expensive and the financial aid officers don't push you to take out the max in loans (as well as getting any grants or scholarships you qualify for) but they pretty much dangle the big check in front of you that they will send you in a few weeks after you finish the paperwork. With my husband being military and having family we didn't make much money so the extra funds were always nice. Now, I would have never considered taking out that kind of loans.

 

As for me going back to a traditional type school I can't right now. My husband was hurt during his last deployment and I am his 24/7 caregiver. I know one day we will get to a place where I can leave him for a few hours or we will trust someone else - but we are not there just yet. I may look into the local community college and see about online classes they offer and see what general education classes I can do. I know a majority of my credits from U of P will not transfer, so really that is money wasted if I don't continue with them.

 

 

We are on a deferred payment plan right now with my loans. Does anyone know if I make a few payments here and there if they will take us off deferred status? Does being deferred hurt my credit any?

 

Megan

[hegemony]

>100K and three degrees for me and >50K and two degrees for my spouse. our families were dirt poor and we both worked all through college but still needed to borrow. Without subsidized student loans we could have never entered our current fields as the degrees are a requirement. Best investment ever.

[Burgerwars]

I agree you should try and finish what you started. Given your family situation, it's probably best to stick with what you're doing at UOP and get your AA. UOP is expensive and isn't an Ivy League school, but they're accredited. You do though need to speed up the pace you're taking courses.

 

I also agree that you should eventually be thinking more along the lines of a bachelor's degree from a state university. An AA in criminal justice is better than nothing, but employers when comparing applicants and what experience they already have will look at a BA more favorably.

 

I also took a long time to finish my degree. Got a BA from a state university while working at the same time. I ended up taking a career path that is different from my degree, but don't regret the time and money I spent getting it. Besides, I met someone while attending college who got a similar degree that I received, and with some of my influence at work she eventually ended up working with me and is a very close friend. You just never know what souvenirs you acquire while in school. Good luck.

Edited July 5, 2012 by Burgerwars

[Credithater]

Keep on going to school, it will pay off when you are done.