Not to be dramatic and catastrophic: but I am 1.5 years post grad, and I have been paying the minimum on my $185K federal unsubsidized student loans for about 9 months now – and it is like a giant monster I fret about every day. Hours on end.
For context: I started as an early career scientist for a government organization in December 2025. I live alone, pay a little under $2K for monthly rent, and have been reducing any and all bills I can, living frugally, while still trying to somewhat enjoy life. I have a tiny savings I am trying to build for any emergencies: I foolishly got a dog and a cat during school, thinking that getting a PhD in STEM would have a bigger payoff then it actually has in this blasted economy. I’m also financing a damn car (it is nothing remarkable or luxurious). I do not have financial support from anyone else but myself. I’m in my early 30s so that should be expected, I guess, but I can’t rely on emergency loans or financial help from family.
The point of this post is: reassurance and advice-seeking. And maybe neither can be provided, and I understand. But I seriously feel so scared for my future and like I was conned into higher education. Don’t get me wrong, I am passionate about the work I did, I am proud of what I accomplished as a PhD, and grateful for the knowledge I have gained. However, I used student loans for undergrad, my Master’s and my PhD. Not much familial financial support as they did not want to fund college for me.
I know my experience is not unique. Just hoping for any advice, any reassurance that my life isn’t doomed to perpetual struggle and survival, and maybe to commiserate with anyone else under similar circumstances. I guess I “did it to myself” by pursuing education without my own stacks of money saved up from the age of 0 to 18.
How to survive with $185K federal student loans? Is life even livable?
byu/sterfnterf inStudentLoans
Posted by sterfnterf
5 Comments
I mean for advice-seeking, it sounds like you need to seek financial advising. Without knowing your income/expenditures it’s a bit hard to give advice. If you can stay in government/PSLF-eligible employer for 10 years, get on an income-based repayment plan if you aren’t and seek PSLF. There might be some options in that car payment to trade it for a different one and have the note paid off too, things like that, you just need someone who can look at your financial picture to give you that path forward.
Your best bet may be to go into academia as a professor and have the university pay off your loans, or eventually get forgiveness for them.
There is also probably a few high paying PhD jobs out there for STEM majors but they are few far between. Though it really depends on your field of STEM too. I am in Engineering (BS not a PhD) and the job market still seems to be okay for us, and the pay is good. But I suspect fields like Biology or sciences like that are struggling hard now.
If you’d like tailored advice, we need to know more specific info.
Income? AGI? Budget breakdown? Which repayment plan? Financial goals/priorities?
Most importantly, do you work for a PSLF-qualifying employer? If not, could you?
You need to get a job that qualifies you for PSLF. I didn’t pay a dime for my school! Or join the Military, I did that also!
Have you applied for PSLF? Make sure you’re on an eligible repayment plan. Certify your employment to get your 120 payment/year counts started.
https://studentaid.gov/pslf/