Seriously, you went $189K into debt and you cant find a job with that degree in this market for more that $41K per year? What did you blow that money on? You are 45? What have you been doing for the last 20 years????
You want a support group?
Posted on 01/19/2022 7:26:30 AM PST by grundle
Question: “I will owe about $189,000 on my student loans when repayment starts. I’m so stressed. I got let go from my job and lost my apartment. I have so much debt and moved from New York to Texas in search of work. I started work in e-commerce with an oil pump company, but I will only be making $41,000 a year. I’m 45 years old and living out of my car until I move into a studio on the 15th of this month. Help.”
Answer: You’ve already made some huge steps in the right direction and have a number of reasons to be optimistic. “Relocating to take advantage of a lower cost of living just shifted half your budget. With no state income tax and a low unemployment in addition to the low cost of living, Texas is a good choice,” says Jen Grant, certified financial professional at Perryman Financial Advisory. In addition, getting your living situation settled will likely improve your state of mind — and help you realize paying down these loans is possible.
First up, the emergency student loan pause is now scheduled to end in May 2022, so you will want to think about how you’ll tackle payments then. One solid option to consider is to “try to get your loans on an income-driven repayment plan, which will cap your monthly payments at 10% to 20% of your discretionary income,” says Rebecca Safier, certified student loan counselor and education finance expert at Student Loan Hero. Since your payments will be adjusted in accordance with your income, they hopefully won’t be as burdensome as they would be on the standard plan.
(Excerpt) Read more at marketwatch.com ...
Sue your school
Vote Democrat to get relieved of the consequences of your bad choices. Just like abortion.
I don’t see a mention in the article of the degree earned. Also, what’s with starting work at age 45? If you spend $189k on your higher education and can only land a job earning $41k p.a., you done f***ed up...
Go back in time and tell yourself that you shouldn’t willingly walk into the Big Education trap.
get a 2nd job...................
Go expat and leave the country. To hell with them
Disappear, change your identity, and start all over.
Its like when someone says they are overweight; heres an idea, dont fat. So, dont go into 189k debt in school loans, that is unless you are going to be called “Dr” soon.
You should have read “Poor Richards Almanac” and heeded Ben Franklin’s warning about being a borrower. No better way to lose your autonomy and self respect by taking on non productive debt.
“Congratulations. You have become a freshly minted American slave. Plantation assignment yet to be determined.”
Love, Josef Stolen
First, identify the problem: you are a maroon. Admit it. It is necessary before you can move forward.
Second, one job? You need to get 2 more. There are help wanted signs out everywhere for every type of job.
You borrowed the money, you pay it back.
That degree in multicultural studies really came in handy I see.................
Seriously, what degree did this person get that was this worthless? 45 years old and still wondering what to do?
Hey ladies, look at this prime catch.
Really, the only reason to get a college degree is to open doors to a good job. If the degree won’t cut that, don’t get it.
Pay your bills -- that's what you should do. I paid all of my student loans. Every penny, and I've paid every penny of every bill since. But I was also smart enough NOT to pile up student loan debt to that ridiculous amount.
So, majoring in 14th Century French Art didn’t pan out to get that one job at The Louvre? So good luck.
Seriously, you went $189K into debt and you cant find a job with that degree in this market for more that $41K per year? What did you blow that money on? You are 45? What have you been doing for the last 20 years????
You want a support group?
Even as a doctor, what does this debt mean for medical costs?
Degree in what ...? Anything marketable, or Sociology, Women’s Studies, or Basketweaving?
I wish the guy well.
He made some mistakes (who hasn’t?) but it looks like he’s trying to get everything back together.
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