I'm doomed...

SkylineObsession

SkylineObsession

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SkylineObsession
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The IRD sent me a summary of my Student loan activity and i am now $17,460.59 ($10,071.63 USD) in debt. :(

Looks like i'll be paying this off until i'm 87 years old.
:down: And the worst part is that i didn't get a job out of either course. (two courses i did make up that money + about $1000 interest)

The first was a welding and fabrication course.
To summarise it; Was pressured into doing a course by a few people, hated welding etc but still applied as a lady said you can get $1000+ a week when you get a job after the course, finished the course (after hating every day), got a 75% pass mark and never any job out of it.

The second was a computer course based in Florida (iNet+ - from CompTia) but it went through a base in Auckland over here.
To summarise; it was correspondence which made it harder, passed the first part with flying colours (was either in the top 5% or at the top of the top 5%) and the second part.... was where the money was effectivly wasted

No-one to help me (e-mails and phone calls were not enough) and i gave up on it completely for a few months (all you could do was listen to the CD's and read a big book - which is what i had trouble with; i couldn't concentrate) And when it came to exam time (a month ago...) they didn't think i'd be able to pass it. Neither did i. If it was based in a classroom i almost certainly would have passed the course.

My advice is to never do a correspondence course.

The welding course cost $6000 something, the computer course cost about $9900 and interest has been added to the total as well.

How on earth can i pay this off when i'm not qualified for anything and have no idea what sort of job i could do? (as soon as i earn over $15,000 a year they start taking some of that money to pay off the loan)

My life just seems to be going downhill these last couple of years. :(
 
Alright, the first thing to do is stay positive and not let it get you down.

Thought of Mcdonalds?, although it may not be a glamorus job, at least you're getting money out of it.

:).
 
Cobraboy is right... you can start out working in a store or restaurant, which is better than not working at all.

From there, you'd best get advice from the older members. ;)

Don't worry-- You've got a great attitude, and I'm confident that you'll make it through life just fine. :) Bumps in the road are always there for us all, and the best thing you can do is keep drivin' over them.
 
A loan? Ouch. My mom and dad did a loan back when they went to college. They're still paying it, sort of ;). I decided against a loan cuz I got accepted to get financial aid.
 
Yes, what Cobraboy said...get a job at a local fast food place to start out...:)
 
If you had a qualification, you coud move to Aussie, or anywhere and flag the loan and start life there. Thats what some dentists did after studying, with loans over $80,000. ****ing greedy government. A teacher I had a few years ago said she was paying something like 30-40% interest
 
surely you're taking more than 2 courses in your career, you'll have other things to be quialified for sometime.

McDonald's is better than nothing, but Wendy's is better than McDonald's.
 
Can you get a deferrment on the interest? I did that with my $15,000 USD I owed after getting my Masters. Because architecture required me to serve an internship before I was eligible to get my license, I was able to get a 2-year deferrment on my interest accrual. There may be something like that available to you.

As others have said, keep your chin up and chip away at it. Almost anyplace would rather have you paying a little against your loan than none at all, so they will often make it as easy as they can to do so.

See whatever you can do to get some money coming in and pay some of it back. It took me 10 years to pay mine off, but they're gone now. You'll get there.
 
Originally posted by Viper_Maniac
A loan? Ouch. My mom and dad did a loan back when they went to college. They're still paying it, sort of ;). I decided against a loan cuz I got accepted to get financial aid.
Click to expand...

Loans are financial aid.
 
Originally posted by milefile
Loans are financial aid.
Click to expand...

True, however in common speak a 'loan' is generally not from the government where 'financial aid' would be a ... government loan. Hrm. Yes.
 
Originally posted by Mustang-man
The IRD sent me a summary of my Student loan activity and i am now $17,460.59 ($10,071.63 USD) in debt.
Click to expand...
Wow thats like a new car... well a crapy new car. Or 8 bikes, at the price of wich i paid for mine. 1,150.00 Hey man like what everyone else said keep your head up and well enjoy life. Paying off a debt like that is like getting out of a long term relationship. Dont let it keep you down. And stay busy doing things. :)
 
What DTV and Cobraboy said, get a job at your local NZ McDonalds or Burger King. It may not be exactly glamorus, but at least you're getting $$$$.;)


*Don't eat too much and become fat like 50% of Americans.:p :lol: *
 
Well the nearest McDonalds is... well not near. (the town i live in only has about 10,000 people and lots of empty shops.)
 

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