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OK, so I have this degree in ******** and am $100,000 in debt, now what? ⋆ Tell Granddad

OK, so I have this degree in ******** and am $100,000 in debt, now what?

Does this masthead sound familiar?  You are right to be concerned.  You get online, 4 jobs for mechanical engineers, 3 jobs for chemical engineers, 10 jobs for various degree holders in healthcare.  All starting at $80,000 per year.  Oh my!   Nothing for a BA in Communications?  Oh here are 8 positions at a taco shops and burger stands for $7.25 an hour.  Let’s see that’s $14,645 per year or $1220 a month subtract  $675 for my loan $950 for an apartment, payments,  and food $400 if I eat light. That would put me over $800 dollars a month in the red.  Holy shit, I will never get ahead.

These are strategies for dealing with your debt:.  During the coming weeks we will explain the strategy in more detail with each suggestion

  • Making more than the minimum payment
  • Consolidating or refinancing your student loans
  • Making a lump-sum payment when you come into extra cash
  • Taking a job that makes you eligible for loan forgiveness
  • Using any raises you earn to increase your student loan payments
  • Cutting your budget and increasing your loan payments
  • Working a side gig and using the extra income to repay your loans

 

 

 

 

 

 

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