dcsimg The Get Rich Slowly Forums • View topic - Financial Aid for Life

  GRS Home  Forum Home
Bank Rates Center
   Savings Account Rates
   Money Market Rates
   Highest CD Rates
Insurance Rates Center
  Auto           Health
   Life              Home
Mortgage Rates Center
  Mortgage Rates
  Mortgage Quotes

Last visit was:
A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Thu Oct 02, 2014 3:28 am




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: Financial Aid for Life
PostPosted: Mon Oct 15, 2007 8:16 pm 

Joined: Mon Oct 15, 2007 7:52 pm
Posts: 26
My parents taught me to live frugally, but they never taught me about money. They were kind enough to help me finance a college education from a small, private liberal arts college, but I apparently didn't get the fact that I still had student loans that had to be paid back - with interest. I never understood what interest was, or investing, or how credit cards really worked. All this changed when I got a job in a college financial aid office, which I almost immediately despised. After a few months of talking with clueless students, I gradually began realizing that I was no better than them - I didn't know exactly how much in student loans I had (~$17,000), from who (Sallie Mae, AES, and my college), under what interest rate (ranging from 4-6%), and how long it would really take to pay them off (probably 20 years at that point). I used the magic internet - and a lot of J.D.'s advice - to educate myself on my finances and pull it all together, which included paying off $1500 of lingering credit card debt, consolidating my loans, opening a high-interest savings account, seriously tracking my expenses, and striving to save 20% of my measly income on a regular basis. The education I've gained from my exposure to personal finance via financial aid and the web is invaluable and I'm grateful every day for this unexpected loophole in my life. I only hope I can successfully educate others about personal finance and student loan debt as part of my future career.


Top
Offline Profile   
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ]  Moderators: kombat, bpgui, JerichoHill, Fiscal Fitness Moderator


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Theme created StylerBB.net & kodeki