Student Loans

pilotmike327

Well-Known Member
Hey guys, almost done with the semester here. Still got 3 more before I graduate though. My question is: Did any of you have student loans before entering the dispatch field? If so how much and how did it affect your transition into work.
 
Yes and Nope. Was already working 2 jobs as I took DX classes. Currently, still working 2 jobs to pay the rest of them off. Only 78K more....:mad:(silly pilot school) Best advice is to live on a budget and pay all the extra cash at the loans. My Uncle turned me onto Dave Ramsey for that. http://www.daveramsey.com/home/
 
I'm currently paying off my loans on a Income Based Repayment program and working full time as a dispatcher at one of the regionals. It's not easy at times but it's very much doable. Picking up straight time and OT helps a lot.
 
I'm currently paying off my loans on a Income Based Repayment program and working full time as a dispatcher at one of the regionals. It's not easy at times but it's very much doable. Picking up straight time and OT helps a lot.


Yea I have passed this information on to a few others in the same boat.

"Your loan servicer, (who ever that might be), has contacted you or will be contacting you soon about your repayment options for your federal student loan. As you consider these options, the U.S. Department of Education wants to remind you that you may qualify for an income-driven plan, which calculates your monthly payment based on your income.

You will likely qualify for an income-driven repayment plan if your total federal student loan debt exceeds your annual income. Under an income-driven plan, your initial payment could be as low as $0 per month.

When you make payments based on your income, your loans are paid off over a longer period of time than the standard 10-year plan. While this reduces your monthly payment amount, it also increases the total amount you pay over time. But if you work in public service, you may qualify to have your remaining loan balance forgiven after 10 years of payments.

If you think this option is right for you, use the repayment estimator to estimate your monthly payments under these plans and see if you might qualify. Your loan servicer can also help you better understand your repayment options.

Thank you,

U.S. Department of Education."




I working on MS right now so I don't have to go this route until I'm done with it.
 
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