I owe $60,000 but my colleges closed twice and started me back off as a sophomore when I transferred. IF I cram I have anywhere between a year and two and a half years of classes left to complete after transferring AGAIN (this time for the 3rd time). I’m currently not making enough money to be asked to pay back my loans at the moment and that leaves me with a couple options 1. I could just not go back and work in a grocery store for the rest of my life and never pay it back because I’m not making enough to be asked to, 2. I can go to a very cheap crappy online school( in comparison to the really old respected school I went to) and graduate in 1 year but leave without any valuable connections, 3. Go back to another respectable school and take 2.5 years to graduate with another $50k added to my debt, 4. How the heck do I sue these people?! they took a decade of my life and left me empty handed no fault of my own I kept a 3.6gpa the school just got too political and lost a lot of donors
The passion is kind-of gone though and I feel like in this day and age the only degree that actually changes things is a law degree and I’m just an art major… I don’t even have the bachelor’s degree yet…. I wanted to be a medical illustrator but I don’t think that dream is going to manifest considering everything is digital imaging now…
Does it make sense to finish this this far in when I originally thought it was only going to take 4 years?
I have $60,000 of college debt but I didn’t graduate is it worth it?
byu/Harleyaudrey inStudentLoans
Posted by Harleyaudrey
7 Comments
I unfortunately am not an expert, but there are many in here – I believe there *may* be some form of forgiveness/discharge available to you if these are federal loans and the schools the loans were for closed before you finished. I am sure someone with more knowledge than I will see this post, but commenting to boost.
I think you would fall under closed school discharge – [https://studentaid.gov/manage-loans/forgiveness-cancellation/closed-school](https://studentaid.gov/manage-loans/forgiveness-cancellation/closed-school)
u/Betsy514 perhaps you have some better insight for OP?
I don’t think it’s worth it without a clear plan. It sounds like even going to a reputable school will just add to your debt with a not so great degree. I’d look into how your completed credits can get you a more versatile degree at a cheaper school. But I wouldn’t complete it as is if it’s an art degree
Maybe take some time and think about it. Like you said, if you aren’t making much, an IDR plan would be 0 dollars.
Look into CLEPS and compare to what credits you have to where you want to transfer. A lot of colleges will let you test out on CLEPS and there’s no age restriction.
Op..I would complete th degree. Maybe do a bunch of the remaining credits via the free option and just the final year at the “respectable _ school to reduce additional debt.
How much of this are private loans?
What degree do you want? Look into Tesu, umpi, and wgu.