My student loan debt is killing me, Sup Forums.
These monthly payments are such a burden. $110 a month gone makes me feel like such a failure. I could be doing so much with that money. That's basically a small vacation I lose out on every three months.
How do you manage living with your payments?
>$110 a month
what the fuck do you do? That's chump change. If you didn't want the debt then you shouldn't have borrowed other peoples' money
yeah OP is a moron
"Full ride" means full ride as of freshman year's tuition. By the time senior year rolled around tuition had gone up enough that with two summer classes I had to borrow or literally live on rice and beans for nearly a year.
For what I do I'm a paramedic, only making $56k a year. Mortgage eats up $1100 a month.
this is sarcasm right?
if $110 a month is a burden to you then you have a shit job, what did you study? Gender Theory?
Just fucking pay it. I hate myself for acquiring so much but I'm almost finished paying it off. $110 is nothing. In fact, pay more if you can.
It just feels bad knowing that I'm missing out on an out-of-state trip every three months because of it. I don't have a car payment because my car is paid off but as soon as I do that will easily be $300 a month on top of my student loans.
Did you really need a BS or whatever to be a paramedic? Not being a dick, but a friend of mine was a paramedic in HS
You are telling us and complaining to us about an issue in your life, anonymous people, don't be surprised when we tear you to shit over it
I spend more than that on booze and I also smoke and still can afford to live and save. What the fuck do you do? I am a retail pleb
Paramedic is 2.5 years of school, not sure how your friend even became an EMT-B before age of 18. After the 2.5 years is the rest of the curriculum for BS in Emergency Medical Services.
Fucking millenial.
Reddit tier bait. You're a fucking faggot, and poor.
Fuck you faggot. 110 a month is perfectly manageable if youre not an utter retard.
Look faggot you are "educated" now so you have to pay.
You think you should get your status symbol for free?
Officially earning beneath the pay back amount and selling used German cars too Bulgarians. Will probably default on it in 5 years with about 5 million dollar hidden from the state, getting myself a new identity and say good bye to communist Poland and hello to Thailands lady boys
>making $56k a year
Assuming you lose about 25% of your income to taxes, you are working with around $39,200 a year. You then pay $13,200 dollars annually for your mortgage.
After the mortgage is paid, you have around $26,000 left. Assuming you max out your IRA contributions at $5,500 (varies depending on income bracket), you are left with $20,500 a year ($1,708.03) to pay all your other bills.
If you dont like making the monthly payments, then you should look at paying the loan off early. Also, if you are not writing off the interest from your student loan on your taxes, then you are being stupid and the college degree wasnt worth it
What is the problem again??
i re-did the numbers assuming a 30% tax rate since that is more realistic for his income bracket. Forgot to correct percentage in my original post.
Good. I hope you'll starve to death you millenial cocksucker.
t. 29 years old
So you have a BSEMS?
Hehe hehe good goy, take out those student loans instead of learning a real trade, be sure to get that white collar job, blue collar jobs are poor and stupid!
If you can't afford to pay of your debt, and you knew this going in. Why did you obtain debt in the first place?
Multiply that number by your age and my payment is probably higher
How many Fed notes do you owe user?
The fuck how do you pay 1,100 a month for a mortgage? Who the fuck buys a 230k plus house after getting out of school?
he never said it was an issue of not being able to afford it, he just said he constantly thinks about what he could be doing with that money if he wasnt paying the loan.
and you assume a 20 year mortgage. He likely got hooked for a 30 year since he is younger and "has the time"
LOL you picked the wrong profession you filthy Poor.
I have to pay $670 a month and I'm not even stressing it because I bring home ~$8300 a month after taxes. I usually end up paying at least $1.5k a month so I can bang it out faster. Get your life together bro.
>110/mo
What the fuck?!
I went to a state school and I owe $450 every month.
Didn't keep your grades up eh?
Bummer.
If you had you could have gone all the way and not paid a dime.
That's what I assumed. I can get a mortgage for 300k at 4.3% 30yr fixed for about 1,500/month. But fuck if I ever will have a mortgage I've bought my rental properties in cash.
He could get a different loan!
Maybe a hatchback with massagers in the seats and 12 cup holders!
This has to be bait.
>$110
>Less than a good family dinner out
>Less than a bar tab with your boys
Surely you can't be serious.
BS *in* Emergency Medical Services. It's not like a BSN where it has its own abbreviation.
House is $180k, barely more expensive than paying rent. 30 year mortgage is correct though I'm adding $200 a month for the "power payments".
lol
>paramedic
Your plan is to become a fireman right? You'll be set once that happens. Thats such a sweet job. My boy is a fireman in a major city and makes like $90k to do a couple hours of work per week.
The fuck did you think would happen when you borrowed money at an interest rate you fucking nigger?
I dont get all the people berating OP for becoming a paramedic. Emergency medical services and the benefits and care they provide often mean the difference between life and death for those who call on their services.
Personally, I'd like to see these people paid a little bit more so we can attract better talent to these positions.
Tfw I'm 20 working full time as an electrician with no college and I'm closer to owning my house than you. Kek
I was lucky and my parents paid for my college in full
My wife has heavy student loans but she gets paid well so it's not a big deal
Between the two of us we probably make ~200k a year and we're only about 30. feels good not to be a worthless conservacuck
>110 $ a month...
sigh.. I've paying mine for over 7 years now, more than that. Hardly move in the start, but that's how it works makes a dent now though
The car and house loans are worse, the student shit hardly make a dent
I do own a house though.
I'm a sworn firefighter but mostly do EMS, as most departments do. More than a couple hours a week. Average 56 hours a week but in doing so only work 9-10 days a month.
>average salary: 50k
kek. nothing wrong with pursuing trades but you should really get off your high horse if you're gonna talk shit, i was making twice your salary by the time i was 25
i defaulted years ago and i'm not ashamed in the least. it's not even on my credit report. this might not be the best option depending on your circumstances though.
OP seems legit. have some freaking compassion. not everyone can be an investment banker. who do you expect to rescue you when you choke on your latte and get 3rd degree burns? Thank you for your service OP.
really? am i this new?
Man thank God I have good a good relationship since they let me live here for free, i save about 70% of my income I bought my first rental property in cash 2 years ago.
Fuck man what sense does it make to buy a house straight out of school?
I was always scared to death of accumulating massive student debt and competing in a shit job market
Exactly the reason why I joined the National Guard after HS. Best decision of my life
Yes user, buy that house with a 30 year mortgage, surely there isn't another housing bubble
Surely your mortgage won't be underwater soon
#winning
Seriously OP, how much does life cost in the USA to find it hard to live With 20k$ after taxes, mortgage, IRA and student loans?
P. S. Your 110$ a month payment is fucking chump change
this so much. After expenses I save $4,500 a month. $110 is nothing.
About to graduate with my accounting degree but i have to avree with this guy. College is a huge meme. Today's job market is all about technical skills. Welding, plumbing, HVAC, etc. but most millennials feel to good for these jobs. I learned to weld but decided to go into accounting to become a cpa and using my connectiona, get a nice cushy desk job. Then use my mechanical skills on the side to earn extra cash.
>How do you manage living with your payments?
by not borrowing money for anything but land
I'm 26 and just graduated. I can graduated late because I have no debt and live in an upper middle class bubble. Sucks to be you guys.
but anyway guise, what will you do when it happenings? your FRNs won't save you when there's zimbabwe style hyperinflation. let's be a bit more pragmatic ITT.
I know that feel dude it's happening soon where I live it's fucking stupid. I picked up a foreclosure at 63k and it's worth 138k now. It's fucking silly pretty soon if it keeps going up it's no longer going to be worth renting out.
If you owe money on something you don't own it. Simple as that.
ur a faggot
Damn lads, that's horrible. I bought twice the house and thrice the land for basically the same price.
My wife and I lived with her mom for half a year and that was enough. If I wasn't married fuck yeah I would live at home.
Unless you have a house full of kids you are just a fucking loser with no money skills. You should be paying at least $500 a month on those minimum with no problems
I paid my $30k off in 3 years only making 40-50k and still had money to fuck off with
there's lots of talk lately about a real estate bubble. can't say how soon it'll pop, but you'd do well to sell before too much longer. don't take my word for it though. i'm just a lowly rent slave.
>have $295k paid into $300k principal on a house
"lol u don't own it fagget!!!1"
jej, renter detected
$110 per month is really cheap. When u hear people talk about how their student debt is killing them, they aren't talking about vacation money. They are talking about food money. $110 per month is perfectly reasonable for your level of income.
Forgot to add this:
Taking an out of state vacation every few months is NOT reasonable at your income. Even if your loan payments were $0
Where the fuck are you going for $300? My last flight from Chicago to LA and back was $950 itself. Any decent hotel room is going to be $150-$200 a night...
But to answer your question I havent had problems with my student loans. I work in the field I got a degree in and had things planned out properly.
Also LOL at $110 a month in student loans. Add a zero on the end and you are getting close to what mine are a month
i'm in debt a little but i got out of the shit commie state i'm from and i'm really close to getting a qt that wants to have kids to move to my new based state. are you still calling me a loser? btw i have more than enough job skills to raise a family. my money skills are shit tier, but i've gotten a lot better over the last year or so.
Yeah my guess is OP was in a position to take far less debt than average, or is stupidly baying the absolute bare minimum and racking up interest.
110/mo is like $1300 a year, I don't know any schools with tuition less than 10k per year
Its actually a bad idea to repay student loan debts ahead of schedule. For most people on this board their student loans are going to be in the 2.5-3.5% range which can easily be beaten by even a conservative mutual fund
You still don't own it. If the only person you pay money to is the county then it's pretty much yours. You still owe a chunk of your house to the bank.
Just saying cash is King friend.
>These monthly payments are such a burden. $110 a month gone makes me feel like such a failure.
That's literally less than a 1/3 days worth of work in terms of take home pay.
Why aren't you making more money? You have the education.
>falling for the airline Jew
Not a chance. $60 in gas between here and upstate New York. $60 in gas round trip between here and the mountains. If you think you need to fly to enjoy traveling that's SAD!
>$100
Mine is over $500 wtf?
try 155 a month bro
>Pay more to the Jew, goyim
>don't just wait for the student loan bubble to pop
Fucking retards
Dunno mate, it's cheaper for me to fly since abusing chase credit cards gives me the equivalent of three round trip flights to Hawaii a year in miles. Shit flying is cheaper than driving for me most of the time.
>Mortgage
you bought a house while in debt?
I need more information on this.
They'll start pulling from your paycheck if you default.
My monthly payments are $700
I'm unemployed and live with my parents (CS degree)
how does it feel to know that government doesn't care about your health care nor education?
$1100 a month does not even come close to the mortgage of a 230k house... maybe if you signed with zero points, have an insanely good rate, and do not factor in property taxes (which in some places like northern Illinois can be another 10,000-15,000 a year) or home insurance, you can get semi close to that.
The general rule of thumb if you arent in a high tax area is that it is 1k per month per 100k leased. If you live in a high tax area its not hard to double that
why not just default on it. the irs takes it out of your tax refund. it's like a loan from the government. they can only take a percent out of your income.
>$110
Kek. Start a crowdfund for your avocado toast fag
>debt to income ratio after mortgage is 25%
Shit man, would you not buy a house if you owed for a pack of bubblegum on your credit card?
>when you're born in 1997 so according to most definitions of millennial you are one but you use the few definitions which make you gen z which is the least white, most liberal generation in history
>but you think you're better than people who came of age during a recession because baby boomers hate the youth
You're not a bright one
so why are you complaining about student loans?
how the fuck did you manage that?
oh wait, you're fucking LYING.
>1100 a month does not even come close to the mortgage of a 230k house...
Hold up, why the fuck are you buying a 230k house? Unless you have a family? Even then, 1100 should just about cover the mortgage...
i defaulted on my student loan like 10 yrs ago. they threatened wage garnishment once...called my work. that was over 5 yrs ago now. i paid them about a grand. haven't heard from them since. i still owe about 7k. fuck the irs. fuck the dept. of education. fuck the fed!
>$4500
Noice. Is your expenses high whats your ratio from income/expenses like?
Also what you do for a living?
My wife pays about $450 month. Maybe you should get a better job.
I keep my credit utilization rate under 15% of my income. And about the same when it comes to my limits on my credit cards.
>Having a paycheck
Retard
>couldn't pay 7k in 5 years
Sounds like you pissed away the money on a useless degree
The left claims to be against corporate greed yet they're strangely silent about the skyrocketing and unwarranted cost of college.
kek, i absolutely could have, but fuck the IRS. also, i never graduated. my self education and work experience are far more valuable. and when it happenings, i'll be at an even greater advantage compared to most.
Good lord. You either make a shit ton, or live on peanut butter alone
$60 in gas gets me.... barely out of the neighboring county. My trip according to Gas Buddy would have cost $598 in gas, and would have taken 6 days of driving... Driving is only viable if you are going a few hours away, own a new and fuel efficient car, and you dont put any kind of value on your own personal time
user makes a shit ton
>I could be doing so much with that money. That's basically a small vacation I lose out on every three months.
>could be doing so much
>sad about not being able to waste it frivolously
They're right to take it from you, you retard
$100 isn't Jack shit faggot wait till you gotta pay rent /car insurance / house insurance many other bills
230k doesnt even get you an 800 sqft 1 bedroom condo in a part of chicago that wont get you killed. 230k is pretty much nothing in any kind of major city
is OP afk?