I'm $75k deep in student loan debt. My largest loan is $19.5k at 10% interest.
I have enough money ($23k) to pay that loan off in full and lower my monthly minimum payment by over $200. Should I do this? Or should I refinance and just pay it off over like 40 years? 23y/o engineer btw
thanks lads im retarded with money despite making a lot of it
Open à new credit card to transfer the balance. Rinse and repeat as needed. Declare bankruptcy if u need
that's the most retarded thing ive ever heard
>$200 minimum payment for a $19.5k loan at 10% APR
If you don't pay those loans off ASAP you are going to be stuck in a really deep hole. They want you stuck making payments just on the interest
>Student loan
>10% interest
You're american aren't you? my fucking god you guys are getting jewed out of existence.
If you make a lot why do you need to refinance over 20 years?
I’d pay off anything higher than 7-8%, then put extra cashflow in ETFs, 401k.
You can refinance at a lower interest rate too.
>I'm $75k deep in student loan debt.
Ha Ha Ha Ha
Stopped reading there
Yes, which is why I am asking if I should pay it off ASAP or refinance.
Yes, I was a good little goy and took out private loans for my engineering degree.
Depends on the refinance rate you get offered. Seriously though start paying way more than the minimum payment right now until you figure out what you're going to do
Pay off that one loan and then refinance the rest. That crazy interest rate needs to be wiped out.
I've got another one 16k @ 10% :^)
im gonna kms myself
based
I've got 4k in my 401k, doing an 8% contribution.
I'm just spooked about not having an efund after paying off a big loan. Layoffs are common at my job and I just took a 2 week vacation in the middle of crunch time cause I was getting burned out. Being an American truly is suffering.
>took out private loans for my engineering degree
Couldn't you get a degree without paying? They allow you to do it if you're smart and did study well in school. It looks like you're trying to bite off more than you canю.
is this real life for ameritards? my university was completely free, except for 180 bucks tuition fees per semester. took out a student loan over 6 grand to go party for an exchange semester. the interest rate is at like 1% so almost free. how can you get cucked that badly by your own goberment?
*pays 50% in taxes for a somalian refugees luxury apartment*
based european cuck not understanding the difference between free and subsidized
Mommy milkies. Gib me nao. Gib me pls mommy
actually I paid no taxes at all because I was a poor university student with very low income. now with my free degree Im about to immigrate to the United States and steal your jobs lmao.
did I mention that jewish immigration lawyer is helping me get my visa? hahaha you burgers are so fucked. thanks for paying those high wages though!
I dont think your degree in basketweaving and Arabic studies is very employable here Sven
lul its actually sociology
but doesnt even matter the US is letting anybody in at this point. didnt you hear that from your president? lmao
You're going to have a real hard time with that meme degree fren.
Hey I'm in same depth of shit.
Have any tips for coping ?
already got a job lined up with a company that takes care of all the visa stuff. kek.
why do you faggots not just study in europe for free and then go back home?
This.
Pay your fucking debt as quickly as you possibly can and NEVER go into debt again unless it's for a mortgage
Listen to Dave Ramsey 7 baby steps RIGHT FUCKING NOW
Dave "Boomer Money" Ramsey is a jackass.
He's just a smug face with absolutely basic financial skills.
dont listen to Jow Forums
pay off that 19k right now and thank user later
buy LINK. 1k EOY. thank you sir
How'd you get 75k in the hole for college? It was only around 40k for me in 4 years total.
every single milionaire that this board has spawned would be a fucking poorfag if they listened to that boomer
fuck he'd be a fucking poorfag that could never afford a home had he been born in this generation
fuck dave ramsey
fuck nocoiners
fuck niggers
ramsey is good if you are absolute brainlet tier when it comes to personal finance
when it comes to investing however, ignore him
20k/year in state living on campus with a one-time 5k scholarship
>lul its actually sociology
OH NONONONONO
yes this is real life for millions of cucked millennials. our parents signed us up for 6 figures worth of debt when we were children, completely unaware of the burden they were putting on us
if bernie doesnt win in 2020 im just moving to canada and never coming back
and yet I got a comfy job and am debt-free while some stemfag in the US is six figures in the hole and has to wage at starcucks kek
that is pretty fucked up mang
Anons what should I do?
100k student loan debt (law school) 5.5% interest
27 years old
70k assets (1 month treasury bonds that I keep reinvesting, tiny bit in crypto)
Thinking of just moving to France with my fiancé (she is French citizen) and just ignoring my loans
Use a credit card to pay off your student loans then leave the credit card debt unpaid then wait 7 year for it to fall off your credit score.
to be fair i wouldve never got interested in saving for my future if i didnt come across his talk show. Dude inspired me to be smart with my money. That being said, i think credit and financing can be a good thing in some cases. Getting a morgage with 750 credit (good) buying a new car/getting a student loan with 10 percent interest (bad).
Fuck op though, he deserves to be poor for making dumbfuck decisons
op here, my credit score is literally 790. i got these interest rates due to my boomer parents cosigning and literally dropping our combined credit against the loans. also, i make a fuckload of money at 23 due to my degree, so I dont think I fucked up too bad
>our parents
Bullshit. Thats you making a bad investment in yourself you fucking zoomer. If you go straight to a university after high school you deserve to be fucking poor. Community college is very affordable and if you dont realize after two years of community college that university is a scam you are a dumb fuck. I was a senior in highschool, a dumb one, and even i knew going into debt 80k was a terrible idea.
I sat on the other side of the hiring table at my first engineering job. We (and every other company I know) literally throw away people who do the 2+2 community college + state school meme shit. CC is garbage. Neck yourself blue collar wagecuck.
>t. couldn't get into university
what you need to do is live with your parents rent free, live off a couple hundred bucks a week and drop everything else into those loans. I hope you dont have an expensive car payment
Khazar milkers
didnt try, i didnt go to college cause i had no interest in it at the time. I actually plan on going to community college next year because i wanna learna couple cool skills. literally anyone can get into a university
based & fuck the banking cartels pilled.
yes, university is "free" for euros. who do you think pays your teachers dipshit? its all tax dollars. what is your income tax and sales taxes? what is your mandatory north african refugee support fund contribution?
really easy to say from your moms basement
Research how to become legally disabled. Go to a ton of doctors appointments establishing your case, then in 3 years you will get declared disabled. Apply for loan discharge and then wait another 3 years and your debt will be cleared and you can move on with your life.
Sucks but, that's the only way a meet can get out of it.