The after effects of an education with a family
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,500.00 | Status: | Loan created |
| Grade: | C | DTI: | 25% |
| Lender Rate: | 14% | Borrower: | thelittleblueenginethatcould |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2006-06-06 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Aug 30, 2006 | Current |
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Here's the scoop. A few years ago, my husband returned to school
full-time for his MBA at a well respected private university- just
prior to the MBA job market taking a nose-dive. Additionally, the
company that was supposed to pay his tuition outsourced his
department. Although he worked 20 to 30 hours per week while
attending, graduated near the top of his class, and finished the
program ahead of schedule, the cost of living and tuition exceded our
income during these two years. Since graduating, he has worked two jobs - as an analyst for a Fortune 500 company, and as a partner in an engineering firm. We're trying to get ahead (and have never missed a payment on anything) but we are still held back by the debts accumulated while attending school. I have a BA, Master's degree, and own a small consulting company. We do not own a home because the average home price in our children's school district is over $1 million. (The area is well established and lucky for us had an older home we could afford to rent! We chose the schools because they are among the best in the nation and we don't have to pay for private school tuition.) We have owned and sold two homes, however. Another note of interest is that in our going on 13 years of marriage, we never applied for government handouts when we were eligible as students. A great deal of our debt could have been avoided had we not paid our own way. For example, we had our first child a few months before I graduated with a BA. The hospital bills even after insurance were enormous. Several of our children were born prematurely and either I or the baby required extra time in the hospital. The hearing aids, glasses, babies, braces, and paying for our own insurance most of married life have all contributed signifigantly to our debt. As undergraduates and during my graduate degree, our total amount borrowed averaged below $5000 per year including all living expenses, medical expenses, and tuition. We worked hard to earn every possible penny of it while in school! Our ethical standard is to take nothing we have not earned or do not intend to repay. We would really appreciate any lenders who are willing to help our family restructure our debt. Last week, I read about Prosper.com in the Wall Street Journal. I identified with other families who were being taken to the cleaners by lending institutions, and decided to come check it out. Thank you for your help. |
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