Let me try to explain this.
I currently have 57,000 dollars in federal student debt. I'm at the debt limit due to changing majors and living on campus for longer than I should have.
I have an estimated 3 semesters of college left before I graduate. My degree would be a bachelors of science in Business Administration- Management information systems.
In order to get through it, I would need to take out private loans which would make the debt around 70-75k total by graduation, maybe closer to 80k. For an undergrad degree.
I made a lot of mistakes to get to this point and I know that. I should have never switched majors but I felt like I needed to get a degree in what I was passionate in, which is technology.
I’m stuck. If I drop out, I’m stuck with 57,000 dollars of federal debt and no degree to show for it. If I try to tough it out, I’m stuck with 75k+ at graduation and the fear that I may not be able to land a good position.
It’s beginning to feel like death is the only way out of this, and I will admit that right now I feel stressed out to the point of feeling suicidal. I don’t know what to do, and I don’t want to drag others into this colossal mess-up that I have done to myself. I’m so thankful that I live alone with no dependents, so my mistakes affect nobody but me. But I don’t see a viable way out of this.
Maxed out on undergrad federal loan debt. don’t see a way out.
byu/Jstingray2 inStudentLoans
Posted by Jstingray2
3 Comments
Other people are going to chime in on the financial bits, but OP, I want you to know you are a vibrant infinity valuable human being and this is not the totality of your existence. I don’t personally know you, but that doesn’t change the above from being a fundamental truth I feel in my bones. You can make it though and still have a fulfilling life. Talk to professional help: https://988lifeline.org/
Don’t let a corrupt system decide your fate, your value as a person has absolutely nothing to do with this
With budgeting and strategic repayment, this will be left in the past, you’ve got this
Your debt does not define you, your worth, or whether or not you’re a good person. Sorry you’re going through this. ❤️
Finish your degree. It’s way better to have student loan debt with a degree than student loan debt without a degree. Most professional jobs immediately screen out any candidates that don’t have a degree at this point.