How much left and when will you be free?
- Apple 🗣ur🧠Only if they got into undergrad back home. That’s super competitive now. It’s easier for them to just apply to any rando university here and take out student loans than compete with the rat race back home.
I think most of them have student loans. Just like Americans do. And they pay them off quickly.
And especially now that you need a masters degree to remain competitive, most have student loans.
- I think I’m still at 50 or 60k?
Who knows I convinced them to keep me on the lowest payments and have no intention of trying to pay it off faster.
I’d rather use extra income to enjoy life than payback for a degree (masters) that didn’t teach me anything new.
I was naive 20-something year old fresh from undergrad and the system made it easy to acquire 80k to go to school for another 2 years.
Yes, I’ll pay back less if I pay it off sooner. But it’s 25 years on current payment schedule or if I double payments it’s around 13 years. In the grand scheme of things I can wait 5 or 7 years when I’m making a legit base salary and lots more disposable income to throw at the student debt.
- 57k. 12% interest. 0 repaid until now. Expected duration 1.25 yrs. Gonna start repaying back soon. Fresh grad.
Flagged by the community.
- Here’s how I look at it.
My income keeps going up while my school debt payments stay the same. Eventually when I’m earning enough, doubling the payments or throwing wads of cash at it won’t feel like a burden — but until that point I’m going to continue to live a stress free life and use whatever disposable income I have to enrich myself — whether that’s traveling, enjoying great food, going out with friends, buying books or taking online classes to continue learning.
And being debt free isn’t realistic for me in a year or two so why put my self in a position where I have to be a hermit eating ramen and PB&Js everyday. Although I could go for some ramen and a PB&j sandwich right now.