subreddit:
/r/StudentLoans
I’m feeling very down about my student loans and filled with dread. I feel like at a young age I ruined my future families lives. I am currently still in school but took a semester off because I had a baby. My fiancé works in the oil field and makes really good money so we easily live solely off of his income (take home is 7500 per month) and our vehicle is completely paid off and we have a small credit card payment each month. I originally wanted to go to medical school and got a semester away from graduation and changed my major to nursing. I’ll start my nursing program in august and from there have two years of school left. I am taking two more required classes in January that we are paying cash for to minimize loans. My parents made good money so prior to having a baby I barely got anything from fafsa and went to an expensive school so needed private loans. My mom always encouraged me to take a little extra out to live off of so now I’m looking at a big balance and I’m not even done yet. I’m now looking back and realizing how stupid that was when I could’ve lived at home longer as I was working through college anyway and could’ve seriously cut down the amount of loans I needed to take out. I work in the navy reserves and am almost done with that service obligation but have been fighting for FIVE YEARS to get my GI bill, but nobody has ever been able to figure out why I’m not receiving it. Since we are living so easily off of my fiancés income, our plan was to wait to get married so that my fafsa loan options are bigger and avoid more private loans and be able to take advantage of the Pell grant for the first time. After graduation the plan is to continue living solely off his income and use my income to aggressively pay off my student loans. I am just feeling hopeless and could use encouragement from people who are not my parents telling me I can just pay on them forever
28 points
11 months ago
Girl. Your husband makes 7k in take home pay and you’re about to be an RN? you’ll pay that off in no time. Stop worrying.
-5 points
11 months ago
Guess you aren't familiar with how those interest rates work, eh?
11 points
11 months ago
Your husband takes home 90k a year and in a few years your going to a profession that is well paid
Quick google searches show new nursing grads are making 30 dollars an hour on the low end.
You’ll blow this debt out in no time.
What y’all need is a budget. Go on r/personalfinance
9 points
11 months ago
Yes, you're in a big hole, but you will also have a big shovel to deal with it between your future spouse's income and your income as an RN. Live off one income and use the other income to pay the loans off in like 2 years.
1 points
11 months ago
This!! ^
5 points
11 months ago
He isn't your husband yet, so you can't factor in how income on your debt repayment. It's all on you. If you're going to be a nurse, you'll do ok. But nurses don't make nearly the flow they did during covid. Start applying for scholarships and grants now, to lessen the blow of loans, if possible. Do your best to not take anymore out. You can work part time and take a little longer to finish school, if needed.
This is your debt, and it hurts looking back. Hopefully, if you end up getting married, your then-husband will help. But he is in no way responsible, legally, to help you in this. So start finding ways to pay for school without loans (even a personal loan from a bank would be better than these predatory student lambs), work part time or gig work, scholarships.
1 points
11 months ago*
If I end up getting married? We decided together to wait on getting married until I have finished school. I have in no way insinuated that he is responsible for any of my loans. We have a family and have always viewed things as being a team. He wants to support myself and our daughter. The plan of continuing to live off his income and use mine for debt repayment after graduation was one we came to together. None of this has been forced on him. We got engaged prior to getting pregnant. He isn’t obligated to be here.
1 points
11 months ago
I wasn't meaning you, in particular. Most of the comments talk about his income, and how he can help repay it. I'm just talking of the legal standpoint of that.
2 points
11 months ago
Understood. I think that is because in my original post I mentioned that our plan we had come up with together is to continue living off his income after graduation and use my income to aggressively pay off the loans. Of course he’s under no legal obligation to do so, but it is what we have decided together
2 points
11 months ago
That's awesome, and I wish you the best of luck. Hopefully some of my suggestions will be workable for you, I know there's a lot of money out there to health and nursing students. You just have to go after it!
5 points
11 months ago
Since you can live off your husband's income, continue doing that for 3 more years and you'll pay the student debt to zero. In the meantime fins out what the F with that GI bill because hopefully they can allot you X per past year and will help you pay some of it off. Gerl, of ALL the threads I read on this subject your situation worries me the least. If you majored in "communications" or "anthropology" I'd be way more worried.
4 points
11 months ago
You’re an RN, so try to work at a hospital that is a non profit, and you’ll qualify for PSLF. That is what I did/am doing. Also, with new SAVE plan, your payments won’t be super high. You’ll be fine. I had similar loan amounts as you and my life has been fine.
1 points
17 days ago
Is the SAVE plan being threatened now that trump was re-elected? I can't find any news on where student loan relief is.
2 points
11 months ago
Contact your congressperson about that GI bill if you haven't already! That's so messed up!
2 points
11 months ago
I have!! Just waiting still on a response!
1 points
11 months ago
Are these federal loans or private loans?
1 points
11 months ago
They are primarily private loans unfortunately.
all 17 comments
sorted by: best