Purchasing a Horn with a Student Loan Bookmark and Share

The bulk of the musical talk
Forum rules
Reminder: "Go fund me" requests are not allowed and should be reported. All requests will be deleted.

Re: Purchasing a Horn with a Student Loan

Postby hup_d_dup » Sun Sep 03, 2017 7:08 am

bloke wrote:This site has changed over the years.
Long ago, when I warned against student loans here (mostly for buying instruments...but also just "in general"), I was vilified by most.
Has academia evacuated, or is it something else?


How about this:
Attachments
debt.jpg
debt.jpg (52.23 KiB) Viewed 681 times
hup_d_dup
4 valves
4 valves
 
Posts: 588
Joined: Wed Dec 14, 2011 10:10 am
Location: Tewksbury, NJ

Re: Purchasing a Horn with a Student Loan

Postby pauvog1 » Sun Sep 03, 2017 7:45 am

bort wrote:Cheaper to use a student loan than to use a credit card!

If the Cerveny is not limiting your opportunity and it is a matter of personal preference, I would say to wait until next summer. Stick it out this year, sell your piggy here in the summer, and work a few jobs between now and then. I'm sure you will easily make more than $6k by next August, and will have a healthy budget and a lot of options to choose from.


This!
Kalison DS
B&S PT-18p
pauvog1
4 valves
4 valves
 
Posts: 824
Joined: Sun Aug 02, 2009 11:13 am

Re: Purchasing a Horn with a Student Loan

Postby MaryAnn » Sun Sep 03, 2017 1:18 pm

I used a student loan to buy a piano. (just got the loan, bought a piano with it, never said what I was going to use it for.) BUT mine was an engineering degree and paying back all my student loans was in a whole different category, salary-wise, than someone coming out with a music degree. Loans were cheaper then, too, 5%. If you don't really NEED it, don't do it.
User avatar
MaryAnn
Occasionally Visiting Pipsqueak
Occasionally Visiting Pipsqueak
 
Posts: 2740
Joined: Fri Mar 19, 2004 10:58 am

Re: Purchasing a Horn with a Student Loan

Postby Watchman » Mon Sep 04, 2017 7:24 pm

bloke wrote:This site has changed over the years.
Long ago, when I warned against student loans here (mostly for buying instruments...but also just "in general"), I was vilified by most.
Has academia evacuated, or is it something else?

I'm going to say a lot of unpopular things.

"Those people" have largely been driven away. Back in the day when I was a wannabe tuba player hanging out with other wannabe tuba players, one thing we could all agree on was the "uncoolness" of TubeNet. NOBODY ever came here to read and contribute we would say. Most of the posters were dumb idiots, and if you ever were caught posting, you were the topic of ridicule. The only forum anyone would own up to reading was "Auditions", because that was where the jobs were, and why are you wasting time on TubeNet when you could be banging out Meistersinger a 131,988th time. Heck, that's why I've never posted with my real name. Wouldn't want my best buddies making fun of me now, would I?

John DiCesare wrote:I don't regret taking a small loan to upgrade my instrument for one second.

Hey look! Lost in this thread is a comment from a top professional who took out a loan to upgrade his instrument, got the job, and doesn't regret it at all! So, if you want to get the loan to buy your York, just be REALLY REALLY REALLY REALLLLY sure you aren't going to be flipping burgers after grad school. If you are, well.....hopefully you have rich parents, or a trust fund, or something, cause the loan company doesn't give a crap, they just want their money.

One final point about said loan companies...as person with a modest student loan debt compared to some, I have had mostly positive experiences dealing with my company as far a repayment. Unlike other forms of debt that are more insidious in my opinion, like Credit Cards, student loan companies can be rather forgiving. They mostly just care that you make regular payments and can be rather flexible. There's also a lot of ways to get portions of them written off. I'm about three years from having a big chunk go away. Just whatever you do, DO NOT GO INTO DEFAULT! Call, and explain what is going on in your life. Surprisingly, they understand most of the time. Try and do that with the bank. You will be ok. It's all just money anyway.

That said, I personally would never take out a loan to buy a horn, but that's just me.
User avatar
Watchman
bugler
bugler
 
Posts: 121
Joined: Mon Mar 02, 2009 10:32 pm

Re: Purchasing a Horn with a Student Loan

Postby swillafew » Mon Sep 04, 2017 8:30 pm

I bought a Yamaha YBB-641 in 1980 with maximum loan amount, which was 300 short of a new Miraphone 186 with a hard case. In other words, my budget included one instrument, the Yamaha. It was my first horn in the spring of my sophomore year of a music ed. major. It left me with 700 to play around with and my first tuba.

If I had owned a Cerveny tuba of any kind, I would have played that.

If money is dear, keep that Piggy close.
MORE AIR
User avatar
swillafew
4 valves
4 valves
 
Posts: 947
Joined: Sun Nov 22, 2009 7:20 pm
Location: Aurora, IL

Re: Purchasing a Horn with a Student Loan

Postby Travis99079 » Tue Sep 05, 2017 12:53 pm

The $2K I paid for my Mack Brass was pretty negligible compared to what I'd amassed through college. Being a graduating senior, I wanted my own horn and talked myself into it. Even during one 18 hour semester, I worked overnight shifts as a flow team member at Target and was not able to save up for a tuba. Now that I have monthly expenses and loans to pay back, I'm glad I at least have a tuba to play. Saving is still not much of an option yet. My situation may not be everyone's though. If you already own a horn, especially a versatile one, I would avoid spending loan money on a shiny new horn. Play what you have, earn the upgrade later.
Travis99079
bugler
bugler
 
Posts: 34
Joined: Sun Dec 15, 2013 1:18 am

Re: Purchasing a Horn with a Student Loan

Postby bort » Tue Sep 05, 2017 1:06 pm

Move to a state with $15/hour minimum wage. :?
Willson 3050-RZ
Thein RCC
User avatar
bort
6 valves
6 valves
 
Posts: 9104
Joined: Wed Sep 22, 2004 11:08 pm
Location: Minneapolis, Minnesota

Previous

Return to TubeNet

Who is online

Users browsing this forum: Exabot [Bot], gionvil, Google [Bot], Lee Stofer, ronr, TheTuba, Three Valves and 18 guests