Quote:
Originally Posted by Sirref
As a college student I don't understand how you rack up 100+ grand in student loan debt.
I did my first year at a community college getting a gpa that allowed me to transfer to a 4 year university (I jumped the gun by a year which cost me some money but whatever) and I work full time while attending university, with my current situation I am paying ~2.5 grand per semester + another 500 for books so 6g/year. On top of that I commute from my parents home. Everything is paid for by my work hours with occasional help from my folks when I run into unexpected expenses. I'm even considering going into law school after I graduate and after graduating law school I still wouldn't be in severe student loan debt due to the fact that I work.
That said, 500k doesn't last that long in the grand scheme of things. It'll get you a nice house or help you start up a business, that's about it. I'd rather work my way up and end up with a garage filled with bikes and a few nice cars.
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It sounds like you understand completely how one could rack up 100k. But you did EVERYTHING possible not to. Im doing all 4yrs out of state and my family isnt in a position to help at all. Student loans for everything.
With 500k id put myself on a 40k a year budget/salary and survive for 12.5 years. Within that time ill figure out a better long term plan. (stocks, real estate, small business)