Well, let me make this as shorts as i can. Im a 33yr old chemistry/biology teacher, and also coach football/track. I have both a bachelors and masters in education.

I have roughly 60,000 in student loans.
I have been teaching at my high school for 7yrs.
I recently purchased my own condo.
I coach 2 sports.
I literally spend 12-15 hr days at my high school during the months of aug-dec with coaching, etc, but yet the government doesnt see that type of thing.......tired of ranting already.

Basically its this. My student loan payments are $360/month. I have looked and looked and researched alot and just seems that teachers/coaches get no break in terms of student loan forgiveness unless u teach in a crack house district so to speak (not trying to be rude, just being honest). I teach in a school that is rated a D school but yet isnt considered a low income school, so therefore i cant get any loan forgiveness. Why should I not get any help solely based on the type of kids i teach??? These kids are no different.

Just want to know what you guys would suggest in terms of trying to payback my student loans? I am making my payments every month, but would like any suggestions that u have tried. Maybe something along the lines of ....

HELOC
credit card (probably not, just throwing out ideas)
enroll in a 3 hr course so that my student loans can be in deferment because i am in school...
suggestions...

sorry for the spill....just thought someone may be in the same situation as me, and may have tried something that helped/relieved you somewhat...

thanks

i feel your pain....

only thing about deferment...i believe interest still accrues while the loans are being deferred, so your balance is increasing steadily, but you just don't have to make the monthly payments you've been doing.

is your payment an income contingent plan? or a graduated plan? are your loans consolidated? Federal or private?

I know how you feel - BTDTGtTS. The only things I see you changing in your situation, are the things that you can control/leverage - your experience and education. A forbearance at this point is tantamount to putting your finger in the dike.. as was mentioned.. interest continues to mount while in forbearance/deferment unless you opt to pay that separately.

I am in a similar situation, but in a different field, and my only advice is this - find a higher paying school district (not trying to be rude, just being honest). You admit that your school's performance is rated similarly to that of a "poorer" district, but you are not personally benefitting from some of the federal subsidies that would be available for educator's in those particular zones. it also sounds like you have no intention of packing up and heading to work in a "crackhouse disctrict", so you can't really lament about the "breaks" those teachers get. Consider whether teaching in a community and district in which you're more comfortable is worth 360/mo. If it is then, you need to quit whining and join the other gads of people working in emotionally satisfying, but financially pithy careers. If that doesn't justify the opportunity cost, then you should consider leveraging that master's degree on the administrative track, just as those before you fortunate enough to have both a B.Ed and an M.Ed. have done.

Of course, you'll probably do something crazy and noble like put everything into perspective, consider all of the young lives you've helped shape and mold, and decide to keep doing what you're doing, despite the less than noble pay, and overwhelming cost of living ... but hey, to each their own!

ISR, GRP, and XRP all mean paying more in the long run. That is also very possible with Consol and ICR.

Subsidized loans do not accrue interest in a deferment (it's paid by the Federal Government). Unsubsidized loans accrue interest from the day they are disbursed until the day they are paid in full. Unpaid interest is capitalized at the end of a deferment. Like with all other Federal Financial Aid, you must be enrolled at least half-time to qualify for an in-school deferment.

There is no profession in existence with a more delusional sense of entitlement then teachers. Reasons: 1) Colleges of Education at many schools mention the existence of discharge options to induce students into studying education. 2) College of Education faculty generally disdain academia and prefer indoctrinating their students with social agenda, propaganda, and completely unreasonable perceptions of their role in society. Don't ask me how I know:)

Most of my friends who went into teaching couldn't stomach Title I schools. They simply were neither prepared, nor capable, of teaching the poorest and most at-risk kids in the country. They now teach in suburbs and small towns. They frequently say how great their schools are, how low crime is, and what a wonderful neighborhood to raise a family they live in.

The 17.5k was to give the kids growing up in crack houses a chance of a better life. It's not much in the big picture.

I learned something new about the diff. between subsidized and unsubsidized loans...thanks Cynic. I was always under the impression that forbearance/deferment is one of those things you do in dire circumstances (or if you are going back to school) because it will eventually cost you....no such thing as a free lunch when dealing with the government.

I'm not familiar with the College of Education's stance at many schools, because my degree isn't in Education however I was told by my mother when selecting a major (mind you she's a teacher for another 3 weeks )...to find something I enjoy doing, but make sure you won't be eating catfood or having to collect soda cans in the trash. I taught for 2 years after I finished...because it wasn't a buffet of jobs available in my field after graduation...and I actually thought I could make a difference (oh to be 21 again). I ended up moving to take a job using my degree....yeah, it wasn't the greatest place to live....but I rarely brought my work home with me.

I taught at a Title I school and I will have to agree with you...It's draining and taxing on my spirit being teacher, warden, mommy, daddy, disciplinarian, whipping girl, grunt and blamed because Little Johnny is in danger of being "The Child that Will be Left Behind"

God Bless the Teachers because it's a thankless profession.

God bless the teachers. I could never do what they do for a living.

Given the choice between teaching in cracktown or seeking a higher paying teaching job, I'd pick door #2. Forgiveness of your loans might be nice, but the benefits of seeking higher pay would last a lot longer... and hopefully won't get you in any of the number of bad situations you can find yourself in if you choose to live in that part of the world.