School loans? UGGGG

As I get closer to graduation- 6 months away. I am forced to look at the hard facts of school loans. UGGGG.

Of course I won't have to start paying on these for an entire semester. Looking at them encourages me to beg, borrow, or steal, but not to take out any more loans for this new semester.

Through undergraduate and graduate studies I had VSAC as my loan provider. then the government came in and said no more, and took over. Now my loans, as I am sure most everyone else's are with:

DEPT OF ED/GREAT LAKES

PO Box 530229

Atlanta , GA 30353-0229

(800) 236-4300

www.mygreatlakes.org

However, if you are interested in really taking a hard look at your total loan debt to date you can go to this website- The national Student Loan Data System Put in the info and see what you are in for!

This FinAid page has some interesting thoughts about loan debt for students.

Here is an article that talks about Graduate loans by state.

Check out this article in USA today- in debt before you start.

"In 2004, nearly 8% of graduating seniors carried student loans of $40,000 or more, according to the Project on Student Debt, a non-profit advocacy group. In 1993, even adjusted for inflation, only 1.3% of college seniors had debt that large, says Robert Shireman, director of the project.

About 11% of graduates of private, non-profit colleges have loans of $40,000 or more vs. 5.5% for public colleges and universities, Shireman says."

The article refers to the Project on Student Debt here is the link to their website.

It is all something to consider. And my debt? I'm embarrassed to say, but I am near the 2004 percent mentioned in the USA article. It is a difficult thought, How long will I work must to pay off loans? Will there be work in this economy? I know several students who are homeless and going to school. I know many classmates who had others paying for their schooling. Some did so with a work agreement. They played it smart. I wish I could have done that.

So graduates? Was it worth it? I find my self asking this questions to others who have graduated.

ADDENDUM to this post.

If you are considering undergraduate work this is a no brainer. DO IT! There are so many grants available to undergraduates. If you work or country helps to pay for your education DO IT!

Also check out this blog. I have had numerous ways such as cleps and credits for work experience that helped me to save money with my undergraduate loans. There are also many scholarships available. DO IT!

Graduate students? how do you weigh in?