Staying in college to avoid repaying student loans...

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My job-search "prognosis" isn't looking good right now. (Instead of the medical term, what is a good alternate word to use, that gets the idea of "prognosis", but pertains more to job searching than the medical field?) Moreover, six months after I graduate college, I will have to start paying back the student loans. I don't want to look for a job for 6 months just to not find any, and go over the financial waterfall of having to pay debts that I can't pay.

Therefore, I plan to postpone graduation and keep attending college until I land a suitable job BEFORE I leave college. During any interview, I will have to tell them that I can start the job as soon as I graduate, which would be whenever that semester is over at that point. Hopefully, they would offer me the job, and I'll sign, shake hands, and tell them, "See you after I graduate! "

However, I anticipate that it's more likely that I'll take a long time to land a suitable job. Therefore, if I stay at college for longer than the 4 or 5 usual years, will I be able to keep the student loan payments away indefinitely or will I have to start paying them back at some point, despite still being enrolled in college?

(For a while now, I have hoped for Jesus to come back before the loans do, if I can't land a nice job anytime soon. Maybe a cataclysm of some sort will render these debts irrelevant, but I've been told not to bank on it.)

the job searching scares me also. i've got 2 years till i graduate and no idea what i'll do. like you i'm probably going to postpone the day, by going to graduate school. will probably give me a better chance of getting a job, having more specific education in my field.

This reminds me of the movie National Lampoon's Van Wilder, where the student (Ryan Reynolds' character) tries to prolong his education as mucha s he can.

Tim

Graduate school is more intense, and it requires a recommendation letter from an instructor. Therefore, if I can't enter Graduate school (or it proves to be too intense for me), I'll just start pursuing a 2nd degree.

What worries me about that idea is that it could end up being a catch 22. Ya, you avoid paying loans for a few more years, but you also ACCUMULATE more loan while doing so, which you will EVENTUALLY have to pay back one day. Difference between that scenario and graduate school is I can't see how it could lead to a better chance of a job. Except maybe doubling the things you are qualified for? hmmm

Now, no one appears to have answered my question: If I stay in college for more than the usual 4-5 years, will I keep the student loan repayments away indefinitely or will I still eventually have to pay them back even if I stay in college?

Sure, I know these loans will keep getting bigger but a suitable job I'm hoping for would pay them off timely and sufficiently, and still give me at least a reasonable living.

i know that with my loan it specifically says begin repaying 6 months AFTER GRADUATION, so i would assume that if you graduated in 4 years it'd be the same as 6 or 7 years as far as repayment goes. check with you financial aid office though.

I went back to school for my Bachelor's degree and I still had to start paying on loans I took from my Associate's. I don't think the whole idea to stay them off will work, but I don't presume to completely understand how every single student loan works.

Granted, I've heard of people who only pay like ten bucks a month.

Hi, I used to work in a college counselor's office, and one of the few things I actually learned is that every company/organization/loan-shark is allowed to have thier own rules to a large degree. Some loans, particularly those from government and organization (in 2003), will hold off until you are either no longer a full-time college student or after 6-8 years while others, usually bank, expire within 3 years for AA/AS or 5-6 years for BA/BS. Hope that helps! Just ask the origin if you wanted to "expand your qualifications", would there be a limit on how long they will postpone collection. They might even be able to expand your term. Good luck!

-Saven

I don't think going back to school is going to prolong your loan