Borrower Profile #3
Danyelle
Age: 30
School attended: University of Toledo
Major: Marketing and management
Year Started: 1999
Year Graduated: 2005
Jobs Held Since Graduation:
My first job out of college was as an assistant manager/weight loss counselor at a weight loss center.
Then I took a job at a pharmaceutical company as a pharmacy support rep.
Currently I work as an insurance specialist at a non-profit home healthcare agency.
Describe your overall college experience:
I thought Toledo gave me a good education. I felt like the school’s educational standards got much more stringent throughout my time there. They prepared me well for the working world and gave me a lot of career support, like help with my resume and practice job interviews.
Describe your school:
Toledo is a big state school. It has been growing a lot recently and has increased its options to off-campus students. It has almost any undergrad major you can think of.
Describe your living situations throughout college:
My first two years I lived in the dorms. Then for the rest of college I moved off-campus. I would have lived at home but it was too far away.
Describe your course of study:
My major involved a LOT of projects and group work to simulate a real work environment.
What was your favorite class?
I loved my marketing specific classes. My professors were very engaging and required a lot of participation. That meant we learned a lot but had fun doing it. They also communicated with us like we were adults and listened to our ideas. Getting their honest criticism and feedback was a great way to grow.
What was your least favorite class?
Accounting. I found the material to be dry and the prof was hard to follow. He taught the class as if we had all known accounting our whole lives, when in reality we were just taking the class to satisfy the requirement for our majors.
Most challenging aspect of your major:
I’d say actually finding a job that has to do with my major has been very challenging. It’s such a broad field. It’s not specialized like some other majors.
Advice for students considering your major:
Devise a career plan while you’re still in school. Know exactly what type of industry you want to get into so you don’t feel lost once you graduate.
Advice for students considering your school:
Toledo is a big school set in a city with lots of distractions. If you don’t stay focused and study, all the clubs, bars, and parties will mess up your grades and get you off track. Remember why you came there: to get an education!
Did you work while in college, and if so, where?
I had two jobs while I was in college. I worked as a waitress at a restaurant and I also was an assistant manager at Finish Line.
What is the total amount of student loans that you borrowed?
$43,000
Federal: $37,700 serviced by Sallie Mae
Private: $5,300 serviced by Great Lakes
Did you have a cosigner on your private loan?
No
When did you take out your first student loan?
My parents paid for my first two years of school and after that I was on my own. I took out my first loan before my third year of school.
Describe the borrowing process:
From what I remember it was a smooth process.
How did you decide how much to borrow?
I met with the financial aid office at my school and they helped me figure out how much I needed to borrow each year. I only borrowed what I needed for tuition and nothing extra.
Did your school offer you any guidance throughout the student loan process?
They gave me some assistance in figuring out how much to borrow and they encouraged me to max out my available federal assistance loans before taking out private loans. They encouraged me to go with Huntington Bank for my private loans, which is the official bank of the university.
Where did you get most of your information when you were deciding which private lender to work with?
I got most of my information from the financial aid office at my school. I didn’t know anything about student loans at the time.
Describe your experience with Sallie Mae so far:
So far it’s been great. I haven’t had any problems with them and their customer service has been satisfactory. A few times I haven’t been able to make my payments on time, but I called them in advance and they were willing to work with me. At one point they lowered my payments to make them more manageable.
Describe your experience with Great Lakes so far:
Great Lakes has been good to work with as well. I like their web site and their service has been good. I feel like both of my loan companies have been understanding during this tough economy and they are trying to be patient and flexible.
Any advice for students considering borrowing money to pay for school?
Figure out exactly what you’re getting into and how much your total education will cost before you borrow one penny. If you don’t understand something, ask for help!
Any advice for borrowers who are entering repayment?
• Once you graduate, know what your plan is and what you’re monthly payments are going to be. If you’re going to have trouble making your payments then get on the phone with your lender ASAP and tell them what’s going on.
• Always stay in touch with your lender because they will work with you if you do. If you wait til the last minute or just don’t make your payments, then you’ll have major problems.
Thanks Danyelle!
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