@Anonymous wrote:
Hi Annipoo. I understand your methodology, but there may be a better approach. Think long-term.
How are you paying them off now? If it's a full-time job that's related to your degree and you have future potential there, then I guess a short break to pay off your loans would be okay.
However, if it's a part-time job and you can't see yourself working there in the future... then why not just finish school ASAP, get a higher paying job with your degree (I know, easier said than done), and pay off your loans relatively faster?
Maybe there's a scholarship out there for you?
The sooner you start your career, the quicker you'll grow (intellectually and financially). Debt definitely is a burden that no one wants. I got my bachelors last year and I'm still paying off my student loans; ~$24k to go. I throw as much money as I can per month towards it - loans vary from 3.75% to 6.8%; paying more on the higher interest loans of course. I'll be relieved and happy when they're gone next year.
Throwing in an unpopular opinion as well: college isn't mandatory. I have family and friends that never went to college and make as much as I do. If you really don't want to be in debt and you have the mindset/drive/passion/connections for whatever it may be, I'd say: go for it. Life has many paths; take the one you want.
I am working full time as a paralegal in a small law firm. I don't see myself leaving the job anytime soon, as they are offering to fund my testing/licensing to be a non-attorney representative, so that I can represent clients on my own and carry the firm if/when they eventually retire. That being said, I don't think that getting my bachelor's in this specific field would help me advance in my current job. They already know my abilities and compensate me for such, so paying for another two years of school is not going to help me advance in this particular job. I was actually thinking of branching out. Perhaps something in the finance realm, but I have not quite figured out what that should be, yet.
I agree with you that college is not for everyone. I have one brother who never graduated high school who makes more money by working with his hands than his wife makes with her masters (she is in a PhD program currently). My other brother is also in a PhD program, but was making great money with just an associates working for the government. He is bringing home more than his wife who is an attorney. I think I truly have my eye on a bachelor's degree because I thought that I would never be able to afford it. Now I see that it might be doable. I thought that financial constraints would never allow me to get a good degree. Now that it is in sight, I want it., but only if it doesn't cause me to go into a lot of debt. I guess maybe a better option for me would be to save up and pay cash each semester.
