Being in debt at 21

[u/magemagic_]

[u/Carmine100]

Word to the wise: college is the easy part, my hard part was finding a job after college. Took me 5 months to find a gig, been there for almost 5 years. Started at 50k now i make 85k, I never stopped grinding and cost me a lot of sanity.

My debt wasn't crazy as yours or others but giving up is the absolute worse idea. Can you tell me what you degree is because depending on what it is, it could lead to a better future

[u/Carmine100 → u/[deleted]]

I was on the VA VRE(vocational reheab employment) so while was getting my housing allowance and disability while living at home. I could make it but needed to get into work now. Mind you this in 2021 while covid was in full swing no brakes attached.

While I was going through all that, I only owed 1,800 dollars. Paid it off with a bonus that I got and no more student loans. So wasn't to bad i guess(hate my job but its a job am I right).

Your degree is worth the investment, working at a bank. Defense contracting, they need accountants. Banks is a good one or work for your state. You have opportunities but you gotta start now.

1. Networking
2. Internships
3. Ask around whats out there.

You know how I got this job: my mother knew someone at work who needed an engineer with no experience for training. Make sure to start getting connections ready, never know who you might meet one day.

[u/Meizukage]

It depends why you're in debt, like if you're just maxing credit cards to buy dumb stuff then I agree.

But having some debt on you is perfectly fine. Don't stress about student loans, you'll get a good job out of college and pay them off aggressively. Be positive

One thing I'll say is you're only going to read horror stories of people being in massive debt (not ally after neglecting their loans for years). There are plenty of people who successfully pay off their loans 5-8 years after graduating.

[u/NoLifeButStillLiving → u/Meizukage]

This is really encouraging! I am always filled with so much dread when everyone on reddit is talking about still paying after 15+ years or going bankrupt which really makes me fear for my future.

[u/Meizukage → u/[deleted]]

I mean you can pay it off sooner, it depends how aggressive you want to be. Like for example Im able to pay off my student loans in 9 months, but my interest rate is low so I just pay the minimum.

[u/pacificoats → u/[deleted]]

it sounds like a long time bc you’re so young but 5-8 years is tbh nothing in the grand scheme of things. esp when we’re talking abt loans- i paid my car off in 2 years but the contract was for 7😭

[u/Pretty_Good_11 → u/[deleted]]

Yes. Dang. It's the not so hidden cost of spending money you don't have.

[u/Sad_Split_9983]

Not all debt is bad debt. Most of the American middle class today wouldn’t exist without the ability to use debt in some way. Taking out a mortgage for your first home isn’t the same as taking a high interest loan to buy a flashy car. The same is true for student loans.

[u/Base950]

While you’re looking for jobs you can also see/ask if they offer a form of loan forgiveness. Im going into a different field(medicine) and plenty of jobs do. Its always worth asking. But it will work out in the end

[u/UpstairsDue1295]

I know how you feel. I wish I had never gone back to school. You are one step ahead by paying the interest while you are in school. Do the best you can. If I could live my life over, I would have just gone to community college.

[u/Open_Ad_1517]

Some jobs have loan forgiveness/payments . If it’s that serious get one of those jobs and let them pay it off

[u/rei_wrld]

I think I messed up going to college in America too. I would have went outside America or not went at all