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Re: Credit card & Student Loan Debt - How much is yours?
Posted by LoveyQ
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My friend though - she's a doctor and her DH is a laywer. They owe about 250K on student loans together, plus lots on CCs too. Just ONE of their student loan payments is more than my rent! 
Yep, a lot of my classmates are in this boat but granted - doctors (depending on speciality) earn a very high income and if her attorney husband works for a large firm - their combined income equals or exceeds their combined debt...so it evens out. The REAL tragedy is grad students coming out with 200K in loans and only qualify for jobs that pay 35K. Thats where it becomes a real travesty and hardship.
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Posted 2/11/11 1:18 PM  |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: Credit card & Student Loan Debt - How much is yours?
No CC debt, but I have about $25k in student loans from law school. Doesn't bother me too much because my interest rate is ridiculously low and the interest is a tax write-off.
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| Posted 2/11/11 1:20 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
Name:
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Re: Credit card & Student Loan Debt - How much is yours?
Posted by Bxgell2
No CC debt, but I have about $25k in student loans from law school. Doesn't bother me too much because my interest rate is ridiculously low and the interest is a tax write-off.
How? We haven't been able to deduct our student loan interest rate for the past 2 years! 
Edited becauase I forgot to add my response: I have about 80K in law school loans, DH has about 50K from his MBA. Honestly, it does not bother me too much - the interest rate is so low and it because of our degrees we have been afforded so many things that I view it as a trade off.
Message edited 2/11/2011 1:51:46 PM.
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| Posted 2/11/11 1:49 PM |
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jerrysgirl
I love my hot dog!!
Member since 6/06 5357 total posts
Name:
E & J
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Re: Credit card & Student Loan Debt - How much is yours?
currently 0 in credit card debt- pay it off every month and some in student loan debt. hoping to qualify for more student loan debt so i don't have to go to work and school at the same time.
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| Posted 2/11/11 2:09 PM |
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Superkat
More a stranger than a friend
Member since 5/06 9730 total posts
Name:
K
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Re: Credit card & Student Loan Debt - How much is yours?
0 credit card debt. 0 student loans. My car is paid in full. It took some major adjustments to get here but I am so happy now that I don't have debt hanging over my head.
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| Posted 2/11/11 2:19 PM |
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Re: Credit card & Student Loan Debt - How much is yours?
Posted by stickydust
Posted by Bxgell2
No CC debt, but I have about $25k in student loans from law school. Doesn't bother me too much because my interest rate is ridiculously low and the interest is a tax write-off.
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How? We haven't been able to deduct our student loan interest rate for the past 2 years!
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I haven't been able to deduct my interest rate for the past 3 years either because my income is too high. If your income exceeds a certain amount (either 65 or 75K) then the student loan interest deduction gets phased out..
Hence why I want to pay off my remaining law school debt of 40K as quickly as possible even though my interest rate is low (3%). I don't get to deduct any of it because my income is too high.
Message edited 2/11/2011 2:25:35 PM.
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| Posted 2/11/11 2:23 PM |
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Kathy042806
LIF Adult
Member since 5/06 1416 total posts
Name:
Kathy
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Re: Credit card & Student Loan Debt - How much is yours?
10k in cc debt...dh 7k in cc debt..we had zero, but just bought a new house, and we own another that we rent out, but have no tenants at the moment, and between both houses, and ds daycare (which we never had since we lived with my parents), we are drowing. The good thing is we have stable jobs
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| Posted 2/11/11 2:25 PM |
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OStewarts
LIF Adult
Member since 11/07 1096 total posts
Name:
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Re: Credit card & Student Loan Debt - How much is yours?
I dont have any CC debt but I still have some of my law school loans. I think its around $40k.
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| Posted 2/11/11 2:28 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
Name:
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Re: Credit card & Student Loan Debt - How much is yours?
Posted by BatGirl9910
Posted by stickydust
Posted by Bxgell2
No CC debt, but I have about $25k in student loans from law school. Doesn't bother me too much because my interest rate is ridiculously low and the interest is a tax write-off.
~~~~~~~
How? We haven't been able to deduct our student loan interest rate for the past 2 years!
****************************
I haven't been able to deduct my interest rate for the past 3 years either because my income is too high. If your income exceeds a certain amount (either 65 or 75K) then the student loan interest deduction gets phased out..
Hence why I want to pay off my remaining law school debt of 40K as quickly as possible even though my interest rate is low (3%). I don't get to deduct any of it because my income is too high.
Thanks! I looked it up right after - and I am assuming it is AGI because I have always worked for either a large firm or company - so I am surprised I was ever able to deduct it. I lose track of time so maybe it wasn't 2 years that I haven't been able to deduct it considering I have been out of law school for ten years 
This is why I don't do my own taxes
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| Posted 2/11/11 2:35 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Credit card & Student Loan Debt - How much is yours?
Thanks to law school for both DH & I we are well over 250K in student loans
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| Posted 2/11/11 2:44 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: Credit card & Student Loan Debt - How much is yours?
Mortgage
1 Car
About 12K left on student loans
I try to pay c/c in full monthly.
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| Posted 2/11/11 3:11 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: Credit card & Student Loan Debt - How much is yours?
we never carry CC debt. DH had student loans as high as $50K (undergrad & grad school) but we finally paid those off a few years ago.
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| Posted 2/11/11 3:13 PM |
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mrsyoungmommy
can't wait to meet Sophia!
Member since 6/10 1441 total posts
Name:
Danielle
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Re: Credit card & Student Loan Debt - How much is yours?
We have no mortgage, I have about 5,000 left on my car loan, and we have no credit card debt.
We have paid off about $20,000 in 2 years all while paying for a wedding and our apartment to be built.
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| Posted 2/11/11 3:45 PM |
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alisha
LIF Adult
Member since 3/07 1199 total posts
Name:
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Re: Credit card & Student Loan Debt - How much is yours?
Just student loans. We pay our credit cards in full each month.
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| Posted 2/11/11 4:15 PM |
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MrsPorkChop
Twinning!!
Member since 5/05 9941 total posts
Name:
Missy
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Re: Credit card & Student Loan Debt - How much is yours?
$0 for me
my husband has some law school loans
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| Posted 2/11/11 4:16 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: Credit card & Student Loan Debt - How much is yours?
None.
My schooling undergrad and masters were paid in full by my wonderful parents. So was DH's (along w/scholarships).
We pay our CC every month in full.
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| Posted 2/11/11 4:17 PM |
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MichLiz213
Life is Good!
Member since 7/07 7979 total posts
Name:
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Re: Credit card & Student Loan Debt - How much is yours?
We were doing great on the CC debt but due to medical issues I had last year, it's up to $6500. It was about 10K more when we got married and we made HUGE adjustments.
My student loan is $35K for an M.S. in teaching that I can't use at the moment.
We're getting there, but slowly. Our spending habits have changed DRAMATICALLY. We are so much more conscious of every penny we spend now, and we weren't when we were younger. I would use that credit card to no end.
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| Posted 2/11/11 4:24 PM |
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Melmel821
Love being a mom!
Member since 5/08 2776 total posts
Name:
Melanie
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Re: Credit card & Student Loan Debt - How much is yours?
$0
My job paid for me to go to nursing school in full and is paying for me to get my bachelor's degree. No student loans.
And I pay off CC every month.
Paid off my car in 1.5 years but may be looking to trade it in. I hate the idea of making monthly payments on a car.
Message edited 2/11/2011 4:26:44 PM.
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| Posted 2/11/11 4:24 PM |
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8ternity
<3
Member since 11/08 10586 total posts
Name:
Formally NYPD-Wife
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Re: Credit card & Student Loan Debt - How much is yours?
No Student loans.
$0 on CC...we pay off the full balance whenever we make a purchase.
Debt Free! 
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| Posted 2/11/11 4:24 PM |
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miamimerger
Loving my bundle of pure JOY!
Member since 4/10 2429 total posts
Name:
Laura
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Re: Credit card & Student Loan Debt - How much is yours?
maybe it's just me, but i think CC debt and student loan debt are like apples and oranges. DH and I have $0 CC debt, but we have a ridiculous amount of student loans...but we have Masters and a PhD out of it.
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| Posted 2/11/11 5:20 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: Credit card & Student Loan Debt - How much is yours?
$0 
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| Posted 2/11/11 5:22 PM |
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browneyedgirl
family is all that matters
Member since 6/06 6513 total posts
Name:
browneyes
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Re: Credit card & Student Loan Debt - How much is yours?
$0. never had a credit card balance and i paid my student loans off in about 3 years
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| Posted 2/11/11 7:42 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Credit card & Student Loan Debt - How much is yours?
None. Thank goodness.
We paid off my student loans last year, my husband never had any. And we had a bunch of credit card debt, but we also paid that off last year, and pay the balance in full each month now. And only use one credit card.
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| Posted 2/11/11 7:53 PM |
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itsbabytime
LIF Adult
Member since 11/05 9644 total posts
Name:
Me
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Re: Credit card & Student Loan Debt - How much is yours?
We have no debt at all. This is something that is VERY important to us. CC debt we have never had but, the student loans have all been paid in full now as well. That said, student loan debt IMO is very different b/c the interest rates are so low you are often (maybe not these days though) earning more in the bank on the money.
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| Posted 2/11/11 7:57 PM |
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ChrisDee
My Girls
Member since 11/06 9543 total posts
Name:
Christine
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Re: Credit card & Student Loan Debt - How much is yours?
ZERO and boy does it feel awesome.
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| Posted 2/11/11 9:20 PM |
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