I have Crushing Student Debt and Bunk-Ass Credit, What do I do?

Overtures said:
90k student debt
broke ass credit

1. How do I pay these off most effectively?

2. I need to make secondary income apart from my job, any ideas?

3. How do I improve my credit score quickly?
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How old are you? How much do you earn?

I had 21k student loans. I paid them off in full in 2 years.

Probably could have done it sooner if I had put my mind to it.
 
Sophia said:
Here in the UK we only have to pay back student loans once we get a decent job (as in doctor, lawyer etc), is it not the same in the US?
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UK student loans aren't that good, IMO.

You can't default on them, they stay with you forever, growing bigger and bigger.

True, if you have a low salary, they won't deduct any money from you, but god forbid that you come into any money or inheritance, I'm sure they will be there waiting to collect!

I felt a huge weight come off my shoulders after paying back my loan.
 
Fucking scary that the most frequently occurring advice is get a credit card.
Second most common is retrospective.





Don't get more credit.

See if you can roll your existing debts into a single debt with less interest/fees.

Always make at least the minimum payment on all debts with excess going to the most expensive debt. Late penalties can be massive in percentage terms (which is all that matters).

It's easier to cut spending than to lift income but both are best.

Credit repair agencies are a scam.


No easy fix, and you don't need a quick fix to your credit rating so you can buy a house when you have negative as a deposit.
Repay your debt as priority 1, 2 and 3, then think about your credit score.
 
Goonerview said:
UK student loans aren't that good, IMO.

You can't default on them, they stay with you forever, growing bigger and bigger.

True, if you have a low salary, they won't deduct any money from you, but god forbid that you come into any money or inheritance, I'm sure they will be there waiting to collect!

I felt a huge weight come off my shoulders after paying back my loan.
Click to expand...

What's the interest rate?
I earn more after tax on my savings account than I pay on my student debt (Australia).

I've got about 15 times as much in cash savings as my student loan debt, I'm repaying as slowly as possible.
 
Overtures said:
90k student debt
broke ass credit

1. How do I pay these off most effectively?

2. I need to make secondary income apart from my job, any ideas?

3. How do I improve my credit score quickly?
Click to expand...

Sell Drugs
 
I made 1500 week selling weed as a teenager. Spent 150 a day on eating out, entertainment, tricking out my car, and wtevr else I wanted. At 15.5-16 I just never had to ask my dad for money anymore. Went on to about 18.5. Wish I was still connected with all those people lol.


Just kidding none of that happened.
 
Overtures said:
90k student debt
broke ass credit

1. How do I pay these off most effectively?

2. I need to make secondary income apart from my job, any ideas?

3. How do I improve my credit score quickly?
Click to expand...

Quite honestly , you never will. You’ll be paying that debt for the next 10 years minimum. College is a fucking joke UNLESS you’re going to become something special that is in demand and pays well. Not easy to find and accomplish.
I was smart and got into a trade at 18. Been making 100grand plus since I was 23 with not one bit of debt.

I don’t know if BK will get rid of a student loan but that’s what I would do. 90gs is a lot to pay back.
 
Get a job and start paying off the loan. As far as the credit, start small and do something like secured loans for a while to build it up. Secured loans are awesome for this type of stuff.
 
Get Bernie elected isnt he supposed to forgive all student debt or something?
 
Get a job as Uber. Vote for Bernie. Your best options.
 
Cole train said:
Wasnt there a guy here who had like 300k-500k of student debt?

Now that is something
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Pretty much anyone without rich parents who attends a professional school (dental, medical, etc) will come out with huge debt in that range. I know tons of people with $500k and have a good friend who's starting a fellowship in July who's at over $600k. He'll be close to $750k in debt from student loans before he starts working and making any money. Thank goodness for PSLF I guess.
 
Join the military. With a degree you can become an officer most likely. Live on post, make decent cash compared to enlisted, use those military benefits to pay down that college debt.
May even get to travel to strange new lands, meet the natives, and kill them.
You could do worse. Sounds like ya are, honestly.
 
Overtures said:
90k student debt
broke ass credit

1. How do I pay these off most effectively?

2. I need to make secondary income apart from my job, any ideas?

3. How do I improve my credit score quickly?
Click to expand...


Start trafficking dtugs.

I'm only half joking
 
Change your name.
Change your address.
Have a plastic surgery.
If everything else fails, sell drugs.
 
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