M29MATT,
I thouht your post was interesting and wanted to make a general statement to those thinking about doing this:
“…Each and every one of them owes Sally Mae at LEAST $100k (some as high as $150k), with monthly loan payments around $1000+. Also, with Sally Mae’s interest rates (variable, ranging from 4-10%) you’ll end up paying them about $115,000 in interest after the estimated 20 years it would take to pay the loans in full. Grand total paid for school ~$200,000. You’ll have to decide for yourself whether or not it’s worth being in debt for a couple decades.”
I must say this blows my mind everytime I see stuff like this. $1,000 for twenty years. That means if someone goes right out of highschool they would be paying $1,000 /month until they are 40.
I fail to see the rush in getting out in 2 years so you can spend 20 years paying it back. Not to mention there is no garantee that you will even get work, outside of flipping burgers. How do you even come up with $1,000 each month flipping burgers? And Bankruptcy is no option- since student loan debt can’t be removed.
I just don’t get why so many take this chance, without even knowing if they like this kind of work. Why not take a few weeks, pick a 3D product and get some on-line training like Digital Tutors or similar and see what happens. If you can’t get results, get bored or frustrated, then realize jumping into an accelerated 24/7 program with no garanteed of success might not be the best choice for you, no matter what school you choose.
Respectfully,
Ohmanoggin