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College grads: How long were you paying off your loans?

Discussion in 'Mayberry Lounge' started by fortheo, Aug 16, 2015.

  1. fortheo Titanium Belt

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    I'm curious about how long other sherdoggers have been paying off their education. I'm about 40k in debt from student loans, and I still have about a year and a half left till I'm done with my degree. Naturally, I'm dreading the future. Any advice on how to make loan payments/living with student debt more doable?

    Obvious answer—get a good job—is obvious.
     
    Last edited: Aug 16, 2015
  2. Edwin Guest

    Came here to post about this.

    I have 4 student loans separately and it doesn't tally to as much as others, but it's still something I want to get rid of. Anyway, last week I managed to pay off one of them for $1,500 and it felt like a huge relief. I am now looking at paying another one next week for $750 and dropping some cash on one that's $2,500.

    My goal is to get out of student loan debt by Christmas time.

    Sorry for the bump.
     
  3. Smoke Detector Battery Titanium Belt

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    I had zero debt upon graduation and became a bum in a ski village.

    Would highly recommend.
     
  4. Jack Reacheround Never Go Black

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    Still doing it.
     
  5. TheLionTamer Brown Belt

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    I was about $65,000 in debt after graduation (went to USC). I was lucky enough to find a job overseas where I was making a very good salary and I had almost zero tax implications because of Foreign Earned Income Exclusion. I was able to pay it off completely in a little over 2 years. This is kind of an extreme example, but like I mentioned earlier, I got lucky.
     
  6. Orgasmo Silver Belt

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    Graduated with no debt, since I work full time during summer and part time in spring and winter. The downside was that I didn't save any money until I graduated.
     
  7. highkicknomore Red Belt

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    Makes me wonder how much you're going to owe at a university.
     
  8. TheLionTamer Brown Belt

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    also, you can join the Peace Corps
     
  9. fortheo Titanium Belt

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    That's pretty fucking impressive man. I have a lot of respect for people who manage that.
     
  10. Eyepokesftw Brown Belt

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    Die young so you don't have to spend your entire life trying to pay it off.
     
  11. The Clifford Blue Belt

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    Took me about thirteen months. Had racked up around 42k over like 11 years of college. I just did it. That was all I cared about. One year opens up a lot of doors, sets your career in motion, and gives you the launching point you need. Without that monkey on my back credit wise I was able to throw in some real estate investments and start really looking at my future.
     
  12. fortheo Titanium Belt

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    That's very interesting. I am actually trying to work abroad for a year or so after I finish school, so that may be relevant for me. I'll have to look more into that.
     
  13. TheLionTamer Brown Belt

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    You should def look into it...this year American Foreign Workers will not be taxed on the first $100,000 of their earnings. It goes up every year as well. There are a few stipulations that you must comply with. I always choose the Physical Presence Test, which pretty much means that I have to stay out of the U.S. for 330 days a year. If I go back to the States for more than 35 days, then I will have to pay taxes on all of my income. It works out because I just spend my vacations travelling around the world.
     
  14. VulcanNervPinch Gold Belt

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    undergrad: only about 3-4 years...but that was only because a well off relative with no children left me some

    grad: 10 yrs
     
  15. DaleBoca Gold Belt

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    Paid in cash, every quarter. Straight cash, homie.

    What school are you attending?
     
  16. Ladder Master Red Belt

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    I took about 8.5 years. I had only 14k in debt due to going to community college and working full time while in school the last several years.
     
  17. TheLionTamer Brown Belt

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    14k in debt from a Community College??? Were you an out of state student?
     
  18. Gus Fring Brown Belt

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    I'm only paying that Cal State university rate. Super cheap.
     
  19. DaleBoca Gold Belt

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    Csun?
     
  20. Orgasmo Silver Belt

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    Thanks. Going to the local university and living with my parents during those 5 years helped a lot.
     
  21. misterchipmunk White Belt

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    currently a junior majoring in chemical engineering with 3.87 GPA

    im gonna have about 20k in debt after college but I feel really confident in getting a job after college.
     
  22. HunterSdVa29 Respect, tho Platinum Member

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    Had about 18k in student loans (from 3 years, had a scholarship the first year but got denied after my stepdad got promoted my freshman year).

    paid for about four years before I joined the Army, getting the Student Loan Repayment Program in my enlistment contract. good to go now
     
  23. DyslexicDave Banned Banned

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    Well whoopty freakin do!!!!

    [​IMG]
     
  24. SuperiorHands Purple Belt

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    Didn't take time at all, I worked my ass off got a management job by the beginning of my second year and I graduated without debt.

    Than with the work experience I had upon graduation allowed me to advance extremely quickly.
     

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