I cry whenever I get done paying the two monthly payments for the student loans I have for that joke of a culinary school I went to. It feels like I am throwing money away each month. Monthly federal loans are $265.06 per month and the Sallie Mae loan is $305.24 each month. That totals $570.30 each month that I am throwing away.
For the loan I took out for my Bachelors at Cal State Long Beach, my monthly payment was only $50/month. At least for my Bachelors, I got a degree that is actually accredited and worth something. The AOS (Associates in Occupational Studies in Culinary Arts) is really good for nothing but wiping your ass with.
Whenever I think about what I can do with the extra $570.30 each month, I just want to go and protest to shut that school down. It might not seem like a lot of money, but it really adds up. As I have mentioned in a previous post, I went to culinary school to pursue a hobby. I don’t know how or why I ended up working in the industry, but yeah…at the time, I just wanted to learn to become a better home cook. And if the program was any decent, I would have felt like the $570.30 each month would have been worth every penny, but it was soooo NOT! I won’t get into the details again of why I think the school is garbage. That can be read (if you haven’t already read) in a previous post of what I think of Le Cordon Bleu in Pasadena, CA. I can’t speak for all the Le Cordon Bleu Schools of North America, but most of them seem to have a bad reputation for being a scam.
With the extra $570.30 each month, I can be driving a better car, buying nicer handbags, eating out more, going on more trips, or simply just saving a bit more each month. But instead, I am throwing it away each month. That is $6843.60 a year. I will continue to throwing my away for another several years more or so.
I recently received a letter in the mail about consolidating my loans. I called them to see what’s up. The guy on the phone briefly explained it to me and said he will be sending me a booklet in the mail to see if it’s something I’d be interested in applying for. This sounds all too familiar, starting with a booklet in the mail lol.