Thursday, April 30, 2009

Student Loans 1

When I graduate in 15 days, I will have a bachelor's degree, and now a juris doctor.  My name will read Jonathan, B.A., J.D.  That is more than two letters after the name, which is more than a normal number of letters.  However I will also have a more than normal number of numbers after my name, also a dollar sign, and their will be parenthesis around the number.  Jonathan, ($140,000ish).  My total collegiate debt.

Sometimes I catch my brain searching itself or half consciously musing about the number as if the number WILL GO AWAY, but of course it will not.  According to crude math and the internet, my monthly payment on this amount will be at least $1,400.  This is NOT a good thing, my friends should be concerned, I am concerned, my mother should be concerned; but then I am going to get over it.

I have been woefully, pathetically, and complete dirt-like in my looming indifference towards these facts to an extent I fear my recent attempt there at heightening the alarm did not do it justice.  But I am more highly educated than over 90% of the population!  It goes to my head!

Such education allows me to with greater than advised haste lay out exactly what will happen:

I have $45,000ish in Graduate Plus Loans.  This loans are services by Access Group, a non-profit servicer of purely law school student loans.  I have another 95,000 - 100,000 in Stafford Subsidized or Unsubsidized loans either serviced by Nelnet, Creighton, or Mizzou.

The Plus loans have no grace period, the rest have either 6 or 9 month grace periods, which is December 2009 or March 2010.

I can possibly defer them under the economic hardship deferrment, or other deferments, and can also possibly forebear them.

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