I know we’re all (or a lot of us) are in crippling debt that makes it difficult to live comfortably and safely with monthly payment expectations etc. I was just wondering, if anyone in my situation (recent graduated, starting to make payments, no dependents or spouse, 50k in private and 130k federal) can actually afford their payments? I start repayment in November and I’m very afraid. My budget is there but I’m currently in a temporary job position ending in December and I’m working to prepare for this but I just would love to know if there’s any hope.
Posted by pickle-munch
1 Comment
I’d honestly put money on most people being able to afford their payments, either because their balances are relatively low and reasonable, or they make a lot of money, or some combo of both. This sub will have a disproportionate number of people who are struggling because typically those who can afford it don’t find a place to seek support or rant about it.
If you’d like one data point, I started out with $47.5k federal and $12.5k private. Private is paid off. Federal is $6k down. I comfortably afford my standard payment and overpay each month. I also bought a house, got married, left the country, and plan to put my child in private school. All of which I can do and afford my loans.