Do people generally (in your experience or just opinion) use college loan $ for living expenses and

[lllll]

For real. 

Honestly I don't know if I think this should be allowed.  Taking out student loans to go on vacations or buy stuff?  

 

I have never heard of this.   Never did it.  

 

So everyone on here that did it, do you regret it?  

 

 

I regret having college loans.  Especially being a SAHM.   Wish I would have gone to community college.  I can't imagine having more loans for other expenses that at 18-22 i thought was a smart idea.

 

No regrets here.  That mobile home had dirt cheap lot rent and was in a beautiful location out in the country.  Dh's stipend paid for most of our expenses.  I worked part of the time, until 2nd ds was born.  We didn't get all our money back out of it when we sold it, but it was very old so that was expected.  Had we stayed in the apartments, I probably would have had to work the entire 5 1/2 years we were there just for us to get by and never would have finished my undergraduate degree.  But I was able to finish my undergrad degree while dh was getting his graduate degree because we were able to live so cheaply.  I loved that mobile home, and the woods we lived in.  :)

 

And we paid the loan off within a few years of dh's finishing and getting a job.  

[Guest]

I'm going to be taking out the max allowed for sub/unsub loans for the entire duration of my college "career".  I quit working in order to go back to school in order to get a job that would allow me to help with DS's college.  So the loans are paying for everything that my former income paid for: mortgage, remodeling, clothes, fun stuff like eating out and seeing the occasional movie.  I'm still at about 1/3 of my former income so I'm really not being extravagant.

The job that I intend to get has a starting salary that is the same as what my entire loan balance will be, so I'm hoping that I won't be too bad off.  I'm also trying to save some of the loan money; in case I can't get a job right away, I can use it to start paying back the loans.

As of yet, I don't regret it. But time will tell.

[Tree Frog]

In a way, this is what scares me about the medical profession. The kids right now are taking these massive, massive loans. They are counting on the high salaries to pay it off. What they don't realize is all of the huge expenses that come with being in medicine.( 50,000 a year or more in malpractice for example.) Reimbursements are getting smaller every year. With healthcare trying to cut costs and in some ways rightfully so, I'm afraid these young people are never going to be able to pay off all of their loans.

This is my concern with dd. Its hard to know what the med field will be in 8 years. I have so much trepidation about this process. Hearing from Alice and others eases my concern a little bit.