nicely said. this whole "living off credit" thing has become way too acceptable for many families which is beginning to seep down to those children who lack financial contraints.

I see this all the time. I know a guy who is in his mid 30s who still takes classes to defer his payments because he has taken out soo much more than he'd ever need. He would be a perpetual student for the rest of his life if need be. My roomate takes out more than she would ever need. I remind her all the time that it's going to catch up with her, but she doesn't seem to care. Maybe I'm just bitter because I worked my tush off in school (45+ hrs a week plus a full load of classes)so I wouldn't have to borrow much, and that coupled with the scholarships I got has left me "student debt" free. I realize this doesn't work for everyone, but be responsible! A new tv is not proper use of your financial aid...no matter how much you try to justify it. Waaay too many students look at their loans as the "Free Parking" spot in Monopoly. Little do they know, after a few times around the board they are going to land on Boardwalk with 2 hotels on it!!! (pardon my cheesy reference)

@Jason--Thanks for your comments. I'm glad I'm not the only one who feels this way!
@pandiux--Sounds to me like you're in a Catch-22 situation and are certainly not alone in that. I know it's tough, and although I'm not insensitive to your experience, I would like to prevent it from happening to others. Perhaps because you're sharing your own experiences here, present and future students will approach borrowing with more caution.
Couple of questions for you: How are you making your loan payments right now? If you went back to school and deferred your payments, could you continue to pay at least your interest? Does your employer offer any kind of tuition assistance program?

Deferred? They are in collections, and yes, my employer does have tuition reimbursement. However, the school will not let me register till they are paid.

@pandiux, my apologies for the delayed response.
Deferring your student loan payments is generally something that's allowed by the lender while you are still in school (or if you have been in repayment and decide to go back to school). Interest continues to accrue, but you aren't required to make payments. However, I recommend that you pay at least the interest if you can--that will save you some money in the long run.
You indicated that your loans are in collections right now. A collections status is different than a repayment status, so let me make sure that I am understanding your situation correctly:
Do you mean that you are past due on your payments?
Are you able to make any payments at all right now?
If you were able to bring your loans current (meaning that you still have your student loan debt but are up-to-date on making your minimum loan payments), would your school allow you to register for classes?
I'm asking all of these questions because a good friend of mine was in a similar situation for many years, and I plan to write a post about his experiences later this month.

i guess im gonna have to get off my butt and go talk to my counselor. Thank you so very much. I will be looking forward to your friends blog.

@pandiux--It might be kinda hard but it is what we are here to do, so no worries! :)
Keep us posted on what your counselor says and how your situation is going. We can learn from each other!

Im new to using Student loans for school. In fact this is my first time Ive needed to take one out for school.
Is it common for schools to hold a student loan for over a month before disbursing to the students?
When inquiring about this because I really need my books and supplies for classes, I was told that this is the first year for a new policy, and disbursement is taking longer, but they would be glad to sign a new book loan with me so I can get them now.
So I am to take a loan out , to cover my books, because the school is holding the loan money for an extended period of time. Even the instructors are in awe of this.
This may have something to do with a new student ID /Debit card company they partnered with this year called Higher One? They charge huge fees for everything from transactions or even charging you is you dont use your account. They also give the school a portion of the fees they charge, so its potential for huge profits for both the card and the school. But Ive read can be very deadly for he students financial health. An overdraft for a $1.25 cent candy bar in the student store in Minnesota a student over $85 with fees and charges!
The good part is that you are not required to activate the card, and can use it just as a student ID.
The bad part is that my University that is putting long holds on student loan checks, has been telling students that IF they activate the Higher One cards, the loans would be disbursed immediately through the cards.
Something just doesnt smell right here, but what can anyone do about it?

Purgatory U, my apologies for the delayed response! I know each school has its own policies for releasing student loan funds, and I've been trying to find some information on the disbursement hold situation you described, but I haven't had any luck yet. I'll keep digging.
In the meantime, I can tell you that Wells Fargo offers a card program similar to the one that Higher One does. In my opinion, the point of a school having a combined student ID/banking card is to make things easier and more convenient for its students. In your case, it doesn't sound like it's easier or more convenient! :(
So, given that, have you spoken with your financial aid office or the student services office? Or are other students as frustrated as you are? Could you get a group together and take your concerns to your school's dean or president? Let me know if those sound like some viable options.

You may be stuck with Higher One. I went to a school on the West Coast that went with them. I would have been more outraged, but it was my senior year and I just trying to get out alive, and besides there was plenty of the vitriol around my campus concerning Higher One to go around. Needless to say, everyone there has a Higher One card.
Two postsripts to my riveting tale: 1) I recently found out that my school owed me money from 2 years ago and they offered to transer it to my Higher One account. I politley declined and took my chances with the U.S. Mail. 2) I'm pretty sure I still have $1.82 in that account.