Real talk: Getting student loans might be the biggest mistake of my life

[Bane]

33k isn't too bad.

 

[sanityovar8ted]

Income-Driven Plans

 

[unit321]

At the tender age of 26 my net worth is $-33,743.17. I don't seek an ounce of pity because I know millions of people have it far worse than I do. But just looking at that number this morning - on the day I received a paycheck from work no less, I realize that as of this moment there is no way I can realistically pay this off. It's just that no one prepared me for this. Not my parents. Not a teacher. Not a mentor. No one. I didn't have a say in going to school. I just thought that's what you were supposed to do. I don't know I'm just kind of numb today.

I'm to the point where I have to choose between rent, food, or loans. As pathetic as it sounds I had to be real with my girl and tell her that I'm not gonna be able to buy her tons of gifts or take her out all the time (fortunately, she understood). I had to break down and ask my parents for help which was also a bit emasculating. And I know a lot of yall don't have that option. I went as long as I could due to pride, but I broke down. They threw me a few bones but that was essentially swallowed by bills.
My pops told me "you should live at home for a year", but I'm not gonna be one of those nikkas that lives with his parents at 30 years old. Would it help? Sure. But I fight with my mom too much to deal with that stress. I'm not 18.
My whole life has become about the dollar. I have no other aspirations anymore aside from making money. I no longer have fun going out or being social (even though I pretend that it's all good). All I can think about is this hole that I've undoubtedly put myself in by doing the right thing and getting a college degree (BA in Journalism - huge L).
Just to note: I work for a fairly large mortgage company as a marketing and design coordinator so I'm not on minimum wage or anything like that. My point is simply that even with a decent paying job, I'm still broke.
As I previously said, I know tons of people, maybe even a few of you Coli millionaires, are going through the same sort of thing.
Time to get my thinking cap on for real. I'm tired of this shyt is taking over my life.
Good luck to anybody else on the grind.

Three things.
1. Your perspective on what is important in life is screwed up.
2. Your ego is too big.
3. You have character flaws. Fatal flaws, bruh.

1. 26 years old? You got a lot of time to pay that off. It's not an auto loan you need to pay off in 4 years.
2. Nothing is pathetic about telling your girl you can't buy her expensive gifts. If you have to give material goods to maintain your relationship because she might leave you otherwise, then you kind of have a gold digger on your hands. If she loves you for who you are, then that's good.
3. Your father gave you sage advice. And you threw it away. He said for a year, but you "reinterpreted it" as living there from 26 to 30. You take your rent + utilities and multiple that times 12. That is how much you would be able to save in a year. As for being 26 and living at home, I did that for two years trying to get back on my feet after being laid off. I was going to school to get another degree. Put your ego in check. You're not a LeBron James or a Steven Jobs.
You need to stop arguing with your mother. It's not easy, but if you stay at home for a year and are very prudent with your spending, then you will gain financial independence in the future. Or at the least, your college loan principal will be much less.
If you were you in 2021 and your future self looked back 5 years, you can say you were glad you moved in because now you are more financial independent, or you will regret that you didn't take that opportunity because you are still financially in the hole.
4. Money isn't important. It is important to pay bills, but your family, friends and your health are more important. And you already admitted that you are willing to work more, in lieu of spending time with friends. It's good to have a solid work ethic. That's not a bad trait. But you are losing sight of your friends, family, girlfriend and your health.
5. I had a college loan. Not as big as yours but I didn't have it paid off when I was 26. I wasn't earning enough to do that. But, I did when I was in my 30s. I got laid off and got a severance package. It was a good chunk of change. Instead of buying material goods or going on a fancy vacation, I paid off my college loan. After that point, everything about me was still the same. I drove the same car. I wore the same clothes. I worked out at the same gym. I had the same friends. I lived in the same apartment. But I no longer had a college loan to pay.

I'm not out to crush your soul. You're a hard working dude who is looking on the outside in. I've been there. I had people around me with multi-thousand dollar Rolexes while I had a Citizens watch. I had friends driving new Audi's while I was driving a $5K used Honda. People going on vacations to Europe, fancy ski resorts, Hawaii, etc. while I went on a "stay-cation". Man, that chit is two steps down from a European vacation. What's a stay-cation? You stay at home or nearby hotel while on vacation.
Keep your head up.

 

[cdc]

I agree with Unit321. Move back home, and take the money you were paying for rent and knock that loan out as fast as possible with the goal of being debt free. Swallow your pride, live extremely frugal, and get debt free. While it may seem not fun, the sacrifice now for a few years while alleviate any stress later on and allow you freedom and peace of mind. I know too many people who have that student debt payment hanging over them and it is just a stressor that is not needed. Get rid of debt while you still have a chance to move back home (you are lucky compared to most) and kick ass.

If you need a plan, or motivation, read or goggle Dave Ramsey's books and web info.

 

[Ol’Otis]

I'm in a loan rehabilitation program right now
Even tho I'm fukking mad
I've been thinking of ways to start a p2p lending platform for students I'm tired of hearing about students getting hustled by lending companies

 

[Rocket Scientist]

Do you have an actual point to make or are you just going to repeat what I've already said? I'm neither a doctor nor a lawyer, b.

Nikka I'm trying to help your Debbie Downer ass out.You the one sound like you need assurance on your life .Clown me all you want but you sounding soft.Ol emotional decision azz ninja

 

[Malcolmxxx_23]

In Ontario any family under 50k
Post education is free
I love Canada

 

[onthereal]

Nikka I'm trying to help your Debbie Downer ass out.You the one sound like you need assurance on your life .Clown me all you want but you sounding soft.Ol emotional decision azz ninja

I'll continue to clown you in that case. You sound fukking stupid and you've contributed nothing to this thread. Typical coli member making useless posts on the daily. Don't need advice from nikkas with GEDs. Good luck with that Arby's gig though.

 

[CrimsonTider]

Indeed. I've read many.



Elaborate.

Your networth doesn't afford you anything

And most people have negative networth due to loans and mortgages

 

[Rocket Scientist]

I'll continue to clown you in that case. You sound fukking stupid and you've contributed nothing to this thread. Typical coli member making useless posts on the daily. Don't need advice from nikkas with GEDs. Good luck with that Arby's gig though.

Corny azz nikka good luck with that debt hanging over your head, go ahead and ask ya parents to help you out.Your girl probably don't even respect you

 

[root_eruditorium_org]

You can pay that off in a couple of years by saving, living a minimalistic lifestyle, and hustling- side hustles like flipping cars n shyt. It can be done.

There is a plethora of articles out there of how people paid their loans off in under 5 years or so. It won't be easy, of course. But that's the price you have to pay to live debt free

he doesn't want to move back in with his parents, let go of his car, go out and be social ... etc and yet he's here whining about the loans. you have to make the proper sacrifices. you can't have your cake and eat it too.

 

[Maddmike]

I know you nikkaz gona shyt on this, but going in to the military for 4 years is probably one of the best things a young man can do.

 

[onthereal]

Three things.
1. Your perspective on what is important in life is screwed up.
2. Your ego is too big.
3. You have character flaws. Fatal flaws, bruh.

1. 26 years old? You got a lot of time to pay that off. It's not an auto loan you need to pay off in 4 years.
2. Nothing is pathetic about telling your girl you can't buy her expensive gifts. If you have to give material goods to maintain your relationship because she might leave you otherwise, then you kind of have a gold digger on your hands. If she loves you for who you are, then that's good.
3. Your father gave you sage advice. And you threw it away. He said for a year, but you "reinterpreted it" as living there from 26 to 30. You take your rent + utilities and multiple that times 12. That is how much you would be able to save in a year. As for being 26 and living at home, I did that for two years trying to get back on my feet after being laid off. I was going to school to get another degree. Put your ego in check. You're not a LeBron James or a Steven Jobs.
You need to stop arguing with your mother. It's not easy, but if you stay at home for a year and are very prudent with your spending, then you will gain financial independence in the future. Or at the least, your college loan principal will be much less.
If you were you in 2021 and your future self looked back 5 years, you can say you were glad you moved in because now you are more financial independent, or you will regret that you didn't take that opportunity because you are still financially in the hole.
4. Money isn't important. It is important to pay bills, but your family, friends and your health are more important. And you already admitted that you are willing to work more, in lieu of spending time with friends. It's good to have a solid work ethic. That's not a bad trait. But you are losing sight of your friends, family, girlfriend and your health.
5. I had a college loan. Not as big as yours but I didn't have it paid off when I was 26. I wasn't earning enough to do that. But, I did when I was in my 30s. I got laid off and got a severance package. It was a good chunk of change. Instead of buying material goods or going on a fancy vacation, I paid off my college loan. After that point, everything about me was still the same. I drove the same car. I wore the same clothes. I worked out at the same gym. I had the same friends. I lived in the same apartment. But I no longer had a college loan to pay.

I'm not out to crush your soul. You're a hard working dude who is looking on the outside in. I've been there. I had people around me with multi-thousand dollar Rolexes while I had a Citizens watch. I had friends driving new Audi's while I was driving a $5K used Honda. People going on vacations to Europe, fancy ski resorts, Hawaii, etc. while I went on a "stay-cation". Man, that chit is two steps down from a European vacation. What's a stay-cation? You stay at home or nearby hotel while on vacation.
Keep your head up.

1) I have the same perspective as many people my age do. Forgive me for wanting to tackle debt while I'm young.
2) You don't know anything about me therefore your assessment on my character is invalid and flat out wrong. Can't recall anything I said that would come across as having a "big ego".
3) Again, you don't know anything about me. If you want to judge my character based on a single post about student loans, feel free.
4) I wouldn't call living at home "sage advice". It was merely a suggestion. Don't get ahead of yourself. And FYI, never ruled it out. Would prefer to think of an alternative.
5) I'm not sure what you mean by "I'm not LBJ or Steve Jobs". I don't think I ever claimed to be either.
6) Money is important. People kill each other and themselves because of it. Take off the rose-shaded glasses, friend.
7) Severance packages are nice. I've never received one.

Head is definitely up. Not even close to suicidal, not really even depressed. This post was merely modern day frustration that you may or may not be able to relate to.

 

[onthereal]

he doesn't want to move back in with his parents, let go of his car, go out and be social ... etc and yet he's here whining about the loans. you have to make the proper sacrifices. you can't have your cake and eat it too.

1) Since when is it a requirement that you have to move back in with your parents?
2) I don't have a car payment. I pay for car insurance. In fact, I never once said that I purchased a car. Many of you have the attention span of a newborn. All of these things were stated.
3) I've never been one to party and I hardly drink. I don't see why this is a bad thing?
4) Saying that I'm frustrated by student loan debt is whining? I'm unhappy with the debt and I'm actively trying to get rid of it. Try a little harder next time, kiddo.

 

[Turk]

My loan payments are pretty manageable. Just a little more than i pay for my phone bill monthly