Borrower Profile #4
Michael
Age: 27
School Attended for Undergrad: John Carroll University
Undergrad Major: Education
Year started: 2001
Year graduated: 2006
School Attended for Grad School: Undecided
Grad School Major: Educational Literacy
Year you plan to start: 2011
Graduation expected: We’ll see…
General thoughts on your undergrad experience:
I actually didn’t start at John Carroll (I also attempted Toledo and Florida State), but once I settled on JCU, I loved college there! It was a completely balanced academic and social experience for me. Best 4 years of my life.
Thoughts on your specific course of study:
Education has always been “it” for me. I’ve never dreamed of doing another profession. The John Carroll School of Education was top-notch, and I felt completely prepared to handle a classroom at graduation.
Describe your school:
John Carroll is a 4-year, liberal arts college in Cleveland. We follow Jesuit Catholic ideals, and it is primarily a residential campus, although there are some local Clevelanders who commute.
What other schools did you consider and why did you choose this one?
I applied to, and was accepted to: Toledo, Florida State, Heidelberg, Ohio Northern, John Carroll, and Ohio University. I ultimately ended up graduating from John Carroll because it was small, has a family feel, and just felt right for me.
What were some of your favorite things about undergrad?
Many of my closest friends are from JCU. I was in a fraternity, I was a leader of Catholic Retreats, and did many other things that helped me feel warm and welcome on campus. It was 4 years of my life I will never forget.
What were some of your least favorite things about undergrad?
I didn’t live on campus, and looking back, I truly wish I had. I also had (as I’m sure everyone has) a few professors that made learning very difficult, either by not teaching well or making their class incredibly too stressful to find success.
Favorite undergrad classes and why:
I LOVED my classes with Dr. Storz. He had a passion for working with children, and he just inspired you to want to teach even more. I also loved Latin American History; it was just an odd class I took to fulfill a requirement that I ended up truly enjoying.
Most hated undergrad classes and why:
Philosophy of Religion (SO HARD!) and a Literacy class I took with the most uncaring and vicious professor (ask my classmates, she made some of us cry!).
Living situation for each year of school (on campus, off campus, etc.):
On-campus during my “Freshman Year College Scramble”, but once I got to JCU I lived at home and commuted.
Did you have any jobs during undergrad?
If so, what were they? I was a Sales Associate at Old Navy and then a server at Texas Roadhouse.
Describe your feelings on graduation day:
I just remember feeling so relieved that the stressful parts of college were over, but I also remember it being a sad day because I knew the end of being around friends every day was coming.
Anything you would have done differently if you could re-do undergrad?
Live on campus, or at least get a house/apartment with friends near campus. LOVE my Mom and Dad, but I feel like I missed the “entire” college experience. And honestly, wish I had studied more.
Advice for people considering your course of study in undergrad?
You HAVE to want to teach. It’s not a profession you can just “do”. I hate the expression “Those who can’t do, teach.” It’s a tough job with lots of work and it’s not just fun and games; there is so much research and pedagogy behind what teachers do. Seeing a kid find confidence, success, etc. is worth every minute of work!!!
Approx. cost per semester of your undergrad school:
$21,000 for tuition my sophomore year; it increased at least $1,000 every year after.
When did you decide to attend grad school?
I have taken random classes to fulfill licensure requirements in Ohio; I need to get a Master’s before 2016 to maintain my teaching license, and I am feeling like this year is a good year to get started on it.
What schools are you considering?
I have applied to Ohio State, Capital, Cincinnati (online), and Otterbein. My only acceptance letter so far is from OSU.
Student Loans
What is your current occupation?
4th grade teacher. I also serve on the side.
Total amount borrowed (ballpark est.):
$50,000
TA borrowed for undergrad:
$39,000
TA borrowed post-grad:
$11,000--- $2,000 to maintain my license, and I also got a Math license which cost $9,000. This amount will obviously go up once I officially enroll in my Grad program.
Do you have federal loans, private loans, or both?
42k in federal, 9k in private.
Which lenders did you go through for your federal loans, and which for your private loans?
Federal: Wachovia; Private: Sallie Mae.
Describe your student loan situation:
I am paying off my private loan at $120/mo. I took a huge pay cut at my new teaching job, so I applied for forbearance over the summer for my federal loans. I am also in the process of consolidating them through Federal Direct Loans. I am also applying for Teacher Loan Forgiveness in 2012 (5 years of teaching in a poverty school), which can potentially forgive $17,000 worth of loans.
General thoughts on your student loans:
They helped fulfill my dreams to earn a Bachelor’s and teach. Other than that, they are a nightmare. They definitely take a wear and tear on your mental health. I remember being at a point where I was paying $600/mo. total in loans, and I just had a meltdown. It adds up so fast, and once graduation comes and in-school deferment ends, it’s just a flood of papers, bills, and notices that didn’t make sense at first.
On dealing with lenders – what was the initial borrowing experience like? What has your experience with them been like now that you’ve graduated undergrad and are in grad school? Has your opinion changed at all since you took out your first student loan?
JCU handled all of my loans, and they preferred Wachovia as their lender. I did entrance counseling and signed my paperwork, but other than that, I didn’t deal with Wachovia until after graduation. Sallie Mae has truly been a pain to work with, which is why I just pay that loan and don’t try and deal with deferments or anything of the nature.
Compared to most of your peers, is the amount you’ve borrowed higher, lower or the same?
I seem to be right in the middle. Lots of my friends at JCU had parental help/scholarships and owe very little, some had no assistance and owe over $125,000. My parents helped as much as they could, so my debt could have been higher.
Do you and your peers ever discuss student loans? If so, how would you describe your peers’ general sentiment toward their student loans?
Very rarely, but I don’t think I’ve found a friend that has enjoyed working with Sallie Mae. All of my friends are so stressed with loans.
Have you consolidated any of your loans?
I consolidated all of my undergrad loans once; now I am doing it again through Federal Direct.
Thanks Michael!
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