I graduate in May 2027 with a Neuroscience degree. I was planning on applying to medical school but it seems really bad to let the interest accrue while i'm essentially unemployed for 4 years.
My dad encouraged me to apply ED to a private school and promised me he could pay out of pocket (he's a high earning physician). I was willing to go to a state school but I took his word. At the end of my first year I received an email from Sallie Mae that said my parents were applying for loans in my name and my dad tells me he can't pay tuition — I was really upset but went along with it thinking it was a temporary thing. At this point I should've transferred to a state school and found a way out but I didnt and that's my fault.
Numbers wise it is nasty:
12k balance at 12% variable interest rate
102k balance at 14% variable interest rate
87k balance at 15% fixed interest rate
I am interning as a research coordinator until December and will have a decent amount of professional experience by the time I graduate, but i'll probably only make like 60k in my gap years before trying for medical school or PA school which im leaning towards since it's 2 years. Or I could try to work up towards a higher paying administrative role in research or something adjacent instead of paying for another degree.
Is it literally over for me and will I be a slave for the rest of my life? I want to move in with my boyfriend after graduation but now I feel like i'll have to live at home and work with my head down forever.
I apologize for not even asking for concrete advice I just don't even know what approach to take to tackle this.
200k balance with Sallie Mae, feel like my life is over
byu/Other_Fisherman2454 inStudentLoans
Posted by Other_Fisherman2454
1 Comment
Those interest rates are criminal. 💀