Huge Debt and CCRAA - Who Cares??!?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Huge Debt and CCRAA - Who Cares??!?

Postby Horsefeathers » Sun Jul 03, 2011 10:22 pm

I'm a 0L planning to go the public interest/IBR/loan forgiveness route and headed to a T14 at sticker.
Obviously going to be accumulating significant six figure debt, which will likely continue to grow while I'm in
IBR repayment for those ten years.

Anybody else out there wondering about the effects of lugging around this so-called "good debt" for ten years?

I haven't been able to find much information on TLS about the implications of being so indebted for so long.
Is it, as Michael Wallerstein so eloquently put it, "kind of illusory" or am I apt to be financially hamstrung by this burden?

Anybody else nervous about lugging around this kind of debt?

*Edited for clarity, bump.

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Re: Huge Debt and CCRAA - Who Cares??!?

Postby smithc2011 » Thu Jul 07, 2011 7:30 pm

Well, given many loans are based on a debt/income ratio, I would expect some trouble with obtaining further loans (house loan, car loan, etc.). However, I don't know how receptive loan officers are to the unique circumstances of the debt, so it may not be much of an issue.

This probably doesn't help much.
Sincerely, Captain Obvious.

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