I don’t know what to do. I’m terrified. I live with my parents still, I have a car payment, monthly bills to pay, gas is through the roof, and now SAVE is going away. This is going to ruin my credit. I make my entire debt amount in about one year. That is my yearly income. I’m lost, I don’t want to consolidate my loans, I don’t even work in what I went into my degree for. I wish I had never done it. I wish I never got a higher education. And that’s just sad to say. It’s like this country doesn’t care about its people.
I’m terrified and I don’t even know what the best next step is.
byu/nikolacode inStudentLoans
Posted by nikolacode
14 Comments
I graduated owing 70k and making 36k, so if you make your debt amount you are ahead.
You might need to downscale your life a bit but paying them off is doable. I paid mine all off in 10 years
There needs to be much more emphasis on understanding the real costs of these loans. You must have had an idea on how you were going to pay them off before you went to school right?
I live paycheck to paycheck and will have to start living in my car as I won’t be able to afford rent. This is a total nightmare for millions of us.
It’s kind of hard to plan for significant changes in cost of living, like what we experienced after COVID, so ignore any disparaging comments.
I totally regret going to school too, and that’s with an engineering degree. I didn’t expect to have to live in some random persons basement and live off rice and beans after college. I would rather live this lifestyle without student loans hanging over my head for the rest of my life.
You knew how much you were taking out but did it anyway. There’s no one to blame but yourself.
Don’t have kids right now
I’d recommend looking into RAP – if your entire debt is equivalent to one year salary, it may be the best option to pay on until you make enough to knock out the entire degree.
Many people are underwater to the tune of multiple times their salary, so a 1:1 ratio doesn’t seem totally insurmountable.
Unfortunately, what’s done is done. Short of fleeing the country and not coming back, there’s not a whole lot that you can do once the loans have been taken out. Hopefully things get better for you.
i would make my debt in 5 years and that’s not including the 50k of interest that will likely accrue during that time. many have it worse and im sick of all these people complaining with super low numbers lol. figure it out like the rest of us and be grateful that it’s not worse.
I joined the Army at age 34. then got a Federal Civilian Government job, both would pay for my student loans, If you give a little time, they’ll pay those off. Just my 2 cents.
Same
I’ve come to the same conclusion. This country would rather have poor kids be the victims of sex traffickers or pedos, than to have them aspire for more or to be educated.
I’m in tech and science, yet the irony is we import people from countries who DO have free education.
Edit: Meant to also say poor kids and not only women/girls since the Epstein network trafficked boys too.
If you still live at home and make in a year what you owe, you’re in a much better place than most people. If I was you, I’d honestly plan to continue living at home for the next two years and aggressively pay it down, or get a second job/gig work and pay it down even faster.
My apartment lease is ending soon. I’m just going to live out my truck again. I already did it from after graduation to last September, but obviously I need to live on the streets a while longer. From age 28 to now I’m 33, still living this way.
Older generations lived out of ther vehicles for years after college, to make ends meet right? *Right*?
Stop letting this stress you out. How the hell do they expect me to go from paying $50 to $180. I don’t f n think so!! Trumps policies are bs and I am not going to stress about it. He has created a world crises for no reason and the world hates him right now. Student loans are the least of my worries.