Here's the deal. I'm two years into college and I'm not stopping now. I have three years left to go, and with any luck, I'll be making $60,000-$70,000 on my way out. But, I'm taking out private loans with my parents as cosigners because we agreed that I would be responsible for financing it. The smart thing to do would've been to first back up two years and start at a community college, and then back up another year and get myself into the right major at the right time. But it's too late for all that and I'm going to keep borrowing because it's what I have to do.
I didn't qualify for a work study or any federal loans after my scholarships had been taken into account my freshman year and I ended up taking $11,500 out in a private loan, and paid half of it back after I was betrothed a few grand. I took out $15,000 last year, and I have to take out about the same this year after grants are applied. I'm $41,000 in debt with two years left. I'm working my tail off this summer but this debt is something that I have to live with and the stupidest thing I could do right now would be to stop going to school because of this debt. The less stupid (but still stupid) thing I can do is charge forward and get my degrees and find a well-paying job.
I'm just kind of thinking theoretically over here because it's all a little stressful. I know I'm going to have to pay this off for a long time. My interest rate is some 3.7something % which I'm super-duper grateful for. But anyways, I'm not planning to marry or have kids right out of college, I just want to work, work and work some more. If I'm making $60,000-$70,000 a year, am I going to be able to get rid of a good chunk of my loans? If I live as minimal as I can for three or four years, will I be okay? It's going to be a lot and really stresses me out just how much a lot is, but I'm in too deep to go back. Reassurance is what I really need right now, and I know my parents will help me out if I ever needed them to, but I don't want to have to resort to that.
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