I still can’t figure out how I have put myself in such a predicament. The same two questions arise day after day for me and there still no answer. Was it worth getting a career that I enjoy to have to pay off for the rest of my life? And was it worth sending my daughter to get the career that she will enjoy to have to pay off for the rest of my life? When I say the rest of my life that is almost literal as I have 30 years to pay these loans off and I am in my forties and have other children entering the academic world soon enough. So yes, it will probably take me to death to pay these school loans off.
How I Obtained My School Loan Debt?
My first school loan came late in my life as I did not start my professional career until my late twenties and by then I was already married and with children. At that time I really did not have the advantage of knowing how to go about choosing a college or university and the financial obligations that it entailed in the future. I just knew that I wanted to become a Physician Assistant and that was all to it. I applied to one school only, and then went to an interview and I was accepted into the program. Overjoyed by starting the program and thinking that my career would support the payback of my loans I started my college education.
Out of school ten years now and originally making a $350.00 a month payment I learned to accept that and deducted the monies from my salary and just figured it was part of life, but as I put my daughter through school and realize that I need to take additional school loans to pay her education I see that I am now drowning. I find that I am going backwards in life. I now have a $625.00 a month payment and have to get rid of my new car and down grade. A tough pill to swallow but they are choices that I have made and this only means that sacrifices have to be made and a few more hours here and there.
Was My Loan Worth It?
Somewhere in my mind I have to say yes but somewhere in my pocket it says no. Ultimately I have a rewarding occupation and career that gives me gratification in my life and probably would not want any other profession, but doing it over now I may have waited until I found an institution that I was able to afford or may have even looked at other career paths that would have been more affordable.
As for my daughter’s loan as a parent we want our children to excel in their futures and in this aspect I must say yes the loan was definitely worth it. She obtained an impeccable education at a great institution and is doing what she loves and hopefully soon it will pay off for her.
Not really certain how I feel about having these school loans, but I am smarter and a bit wiser in checking all options out now. So when my other children go to college we will hopefully make better decisions financially and academically as well.
