Mildly Infuriating

You can take the money you'd pay off and invest it instead, as a hedge.

Im not saying its ideal, but its a little better than nothing.

I've said it before and I'll say it again. Student lending is the most preditory lending in this country.

I'm assuming you're from the US considering you're being treated like a commodity.

It's predatory to allow teens to sign these things without fully explaining them and ensuring they understand.

It's not taught at all in grade school, no one tells them about interest rates, or amortization tables or how to pay extra toward the principal, or that their wages will be garnished if they don't pay, or if they get married, then their spouse's wages might be garnished without warning, and so on.. It's just, "sign here, and we'll give you the money."

If you have extra money that you aren't allowed to put against the principal, you could at least put that money into a GIC that matures once you graduate. Depending on the rates involved, you may even come out ahead doing that.

This thread makes me incredibly glad that at the last minute I decided to not go to college. My significant other still has loans out the ass with one hell of a scholarship to a not even considered expensive school. Just insanity since we're about 40. Glad I chose the trades. I know they're not for everyone but thank fuck.

Why arent you allowed tp start paying it off? Ive never heard of a student loan you couldnt at least make interest payments on while in school.

Unless something has changed in the past decade, you can still make payments to your loans, you just defer the requirement to do so until 6 months after graduation.

As someone else here said, if you would pay money to a loan while in college, it'd be better to put into a high yield account of some sort to hold onto until after college. From there I would get advice from a finance counselor on what to do with that money, whether save for longer or start it into payments.

I'm 46 and I still have student loans.

This sounds infuriating, not just mildly infuriating.

For all my problems, at least I can say I'm not in debt. Student loans always seemed scummy to me. The trade off is I don't receive a piece of paper letting potential employers know i'm worthy. Every thing is a fucking joke and life is meaningless. Fuck everything.

Your student loan:

Student loans are a grift. You’re getting grifted.

I just had one kid finish college and another start this week.

Your loan and interest and payments start on day one. Most people choose to defer payments until they finish school because they don't plan on having money until they finish school. That does not defer the interest.

When you finish school, you can ask the loan company to extend the deferment for another 6 months. Essentially, that's to give you some time to find a job.

You CAN make a payment on your loan. It probably won't cover any principal, but you can do it.

Is this the US? There are laws that protect penalty free prepayments on student loans, federal or private. Depending on the rates it may or may not be better to invest or have as a rainy day fund, depending on the overall state of finances. But you have a legal right to prepayment and it would have to be a pretty backwater lender not to be aware of this. That said, the system could be clunky.

What bank or federal payment processor?