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If I have a Student Loan from an institute, does that mean I can't go back to college to actually get my degree?

Asked by LazyMe10 (515points) August 4th, 2018

Yes, another money related question. Sorry.
But I am curious, for with the Art Institute I went to I found out I actually did take out a Student Loan. An I owe around $36,000 (plus adding on interest each day) towards that. I already still owe the Art Institute & I owe the bank some money and now this hell.

I don’t mean to curse but to me education is important and I want a degree. An this is very frustrating. No on is pressuring me to get back I to college (My family does want me back in school and they know I owe money and want to hell. So there patient.) But after I recalled this and spoke with the people on the phone I was very depressed. An I really did just want to give up on it all, on life, and found what was the point of living if we’re all just going to be in debt and suffer for the rest of our lives paying it off.

(I did have to call the suicide hotline, it was my first ever doing tha. An hopefully my last.)

But I just want to know do I have to pay all this off before I can even try to go back to a legit University? Or just pay off what I owe the Art Institute & just not take out another loan when going to a new college?

Cause at this point if I have to suffer….then what’s the point of trying…I mean I’m trying to think positive an pay one thing off at a time. But I do feel impatient. An I’m scared I won’t reach any of my goals until I’m in a wheelchair and have fake teeth and be super old. Yes depressing but all advice is welcome… :(

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