How much was/is YOUR student loan

In summary, the conversation revolves around the topic of student loans and the concerns and experiences of individuals in different countries. Some mention the amount of debt they have or will have, while others share their experience with government grants and scholarships. There is also a discussion about the rising costs of education and the impact on students. Overall, there is a mix of opinions on whether the debt is worth it, with some expressing concern about the amount and others feeling fortunate to have minimal debt.
  • #36
inception7 said:
I thought graduate schools pay you and not the other way around. I mostly read around these forums that for grad schools it's an investment they make in you.

Research Assistantship is usually a professor or department paying you to do research. My current PI (Undergraduate) pays Masters and PhD students as a research assistantship and does not require teaching unless he has a really busy semester. (One semester out of his 20 years of being a professor at my uni.)
 
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  • #37
crazyisraelie said:
Research Assistantship is usually a professor or department paying you to do research. My current PI (Undergraduate) pays Masters and PhD students as a research assistantship and does not require teaching unless he has a really busy semester. (One semester out of his 20 years of being a professor at my uni.)

I was a TA for Physics I lab when I was an undergrad. Just lucky I guess. Later (senior year) I worked "special problems" at the Universities particle accelerator which was a great honor and being a TA got my foot in the door.
 
  • #38
dlgoff said:
I was a TA for Physics I lab when I was an undergrad. Just lucky I guess. Later (senior year) I worked "special problems" at the Universities particle accelerator which was a great honor and being a TA got my foot in the door.

This is one of those situations that depend greatly on the department. My department (Nuclear Engineering) is strongly rooted in payed Undergraduate Research Positions for a huge number of students. Also, most students in graduate school for the department are payed as Research Assistants or in the case they can't get a professor to pick them up for it (Very terminal Masters/MBA program) they get an teaching assistantship for a lab course.
 
  • #39
inception7 said:
Well...how would you consider working part-time while doing your degree in Physics/Engineering/Math (I'm still undecided)?

I read that it's not recommended working while studying in university, because one misses out important opportunities such as researching (undergrad level) - which is so important for grad school application.

First of all, it IS possible but it depends on time management (something most students, including ones in physics, suck at) and the type of work.

I make $12/hour working in our engineerings and science library. I basically get paid to do homework and check out books, but most of the time I just study. I also work at the physics instruments machine shop and an electronics lab, both things that I can come in when I please AND have machining, CAD, fabrication, and electronics experience to put on my resume. I don't trust people who think that they have SO much work that they can't even be bothered to wash dishes, much less get a small on-campus job. Poor time management or way too much work.
 
  • #40
inception7 said:
Well...how would you consider working part-time while doing your degree in Physics/Engineering/Math (I'm still undecided)?

I read that it's not recommended working while studying in university, because one misses out important opportunities such as researching (undergrad level) - which is so important for grad school application.
At the time, I was in Engineering, heading for a Chemical Engineering degree with emphasis on Pulp and Paper processes. After a couple of years, I changed my major(s), but those first 2 years were pretty brutal. Still, the part-time nature of my self-employment left me enough time to get everything done. People would bring me guitars so that I could repair them or set them up properly, but they had to agree that I would complete the work on my schedule before I would take that kind of job. I could play for frat parties on Friday and Saturday nights and still have both of my weekend days and Sunday evening for studying, so it all worked out. I certainly wouldn't have taken a job with a schedule, like flipping burgers. Plus, I could make a lot more money buying, repairing, and selling amps and guitars. I loved it when I could pick up a nice old tube amp for chump-change just because it needed a cap-job or better tubes, and sounded crappy.
 
  • #41
inception7 said:
What an incredible amount of money! What is she graduating in?

She is working in graduate school for optometry.
 
<h2>1. How much was your student loan?</h2><p>The amount of my student loan varies depending on the type of loan and the specific terms I agreed to. However, on average, I borrowed around $30,000 for my undergraduate degree.</p><h2>2. How much do you owe on your student loan?</h2><p>I am currently in the process of paying off my student loan, so the amount I owe changes each month. However, I have paid off a significant portion of the original amount I borrowed and am making steady progress towards paying off the remaining balance.</p><h2>3. How did you decide how much to borrow for your student loan?</h2><p>When deciding how much to borrow for my student loan, I considered the cost of tuition, room and board, and other expenses related to attending college. I also factored in any scholarships or grants I received and tried to keep my borrowing to a minimum to avoid excessive debt.</p><h2>4. How do you plan to pay off your student loan?</h2><p>I have a budget and financial plan in place to pay off my student loan. I make regular monthly payments and also try to make extra payments whenever possible. I also make sure to stay on top of any changes in interest rates or repayment options that may affect my loan.</p><h2>5. How has your student loan affected your financial situation?</h2><p>My student loan has had a significant impact on my financial situation, as it is a large amount of debt that I am responsible for paying off. It has also affected my credit score and my ability to take on other types of debt, such as a mortgage. However, I am actively working towards paying off my student loan and am confident that it will not have a long-term negative impact on my finances.</p>

1. How much was your student loan?

The amount of my student loan varies depending on the type of loan and the specific terms I agreed to. However, on average, I borrowed around $30,000 for my undergraduate degree.

2. How much do you owe on your student loan?

I am currently in the process of paying off my student loan, so the amount I owe changes each month. However, I have paid off a significant portion of the original amount I borrowed and am making steady progress towards paying off the remaining balance.

3. How did you decide how much to borrow for your student loan?

When deciding how much to borrow for my student loan, I considered the cost of tuition, room and board, and other expenses related to attending college. I also factored in any scholarships or grants I received and tried to keep my borrowing to a minimum to avoid excessive debt.

4. How do you plan to pay off your student loan?

I have a budget and financial plan in place to pay off my student loan. I make regular monthly payments and also try to make extra payments whenever possible. I also make sure to stay on top of any changes in interest rates or repayment options that may affect my loan.

5. How has your student loan affected your financial situation?

My student loan has had a significant impact on my financial situation, as it is a large amount of debt that I am responsible for paying off. It has also affected my credit score and my ability to take on other types of debt, such as a mortgage. However, I am actively working towards paying off my student loan and am confident that it will not have a long-term negative impact on my finances.

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