50k from grad school. Set allocation. Usually 50% of my earnings post-rent/utilities.

Currently: future neurologist, current psychotherapist Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)
 

Paid the minimum amount for the first few months and gauged where I was financially, then bumped it up by a couple hundred. I try to pay as much as I possibly can while still having a few hundred per month cushion and some retirement $$$. I graduated with around 15k in debt and will hopefully pay it by the time I'm 26-ish... then start all over again for b-school. Hooray :)

 
Best Response

if having debt doesn't keep you up at night and your interest rate isn't exorbitant, put the money towards a better performing asset (assume you have a rainy day fund/parents to bail you out while you get established on your own). I had loans, but they were at 4%, and I was making double digits on my 401k, so it made sense to put more towards that and just pay the minimum on loans. if this was the 70s and the loans were 10 and the market was making 12, it might make sense to pay down the debt.

 

I havent graduated yet but I have worked out in the last 4 years I have had spent $125000 on my education (2 years at sixth form college which my parents paid but I intend to pay every penny back) and 2 years at uni. Still have another year of uni and postgraduate. When I hopefully finish my postgraduate and education in 2 years I estimate to have spent and be in debt of around $166000. cant wait lol.

 
BigPicture:

$140k after business school.

I paid nothing in loans, and kept my savings invested rather than using them to pay loans.

I paid off the $140k in ~2 years

HOW? Got any tips/advice?
 
the_stig:
BigPicture:

$140k after business school.

I paid nothing in loans, and kept my savings invested rather than using them to pay loans.

I paid off the $140k in ~2 years

HOW? Got any tips/advice?

Get an IB job.

[quote=Matrick][in reply to Tony Snark"]Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand. [/quote] [quote=BatMasterson][in reply to Tony Snark's dating tip] Sensible advice.[/quote]
 

I went to a non-target public university, and I got so much in scholarships that they wrote me a check.

[quote=Matrick][in reply to Tony Snark"]Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand. [/quote] [quote=BatMasterson][in reply to Tony Snark's dating tip] Sensible advice.[/quote]
 
Tony Snark:

I went to a non-target public university, and I got so much in scholarships that they wrote me a check.

Same. Made about 3-5k per year going to undergrad. MBA I was a TA, so they waived my tuition and my school paid me a very decent stipend on top of that. All in all, I didn't get to go to a target school, and my alma mater isn't anything to boast about, but being paid to go to school is a blast!

 
schuoh:
Tony Snark:

I went to a non-target public university, and I got so much in scholarships that they wrote me a check.

Same. Made about 3-5k per year going to undergrad. MBA I was a TA, so they waived my tuition and my school paid me a very decent stipend on top of that. All in all, I didn't get to go to a target school, and my alma mater isn't anything to boast about, but being paid to go to school is a blast!

Nice, @"schuoh". A word to the wise, if you have good scholarships and college is fun for you, don't leave college too early. I did that, and I now wish I stayed longer (no pun intended).

[quote=Matrick][in reply to Tony Snark"]Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand. [/quote] [quote=BatMasterson][in reply to Tony Snark's dating tip] Sensible advice.[/quote]
 
Bloyd:

what loan? lol, i guess my 8 figure trust fund helped a bit, i guess hbs next

"Your grammar made me wish I'd been aborted." -happypantsmcgee

Your grammar makes me very skeptical.

[quote=Matrick][in reply to Tony Snark"]Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand. [/quote] [quote=BatMasterson][in reply to Tony Snark's dating tip] Sensible advice.[/quote]
 

I could have sworn I'd seen that somewhere else, then I looked at my signature.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

I travel M-Th or M-F with expenses paid.
I use hotel/airline points/miles for vacation. The firm puts in 12% to my 401(k), and I save a bit on top of this, but most of my excess cash went to loans. I'm married and pretty cheap on the weekends.
Rent is low, drive a 10+ year old car. Housing and car are the big ones -- if you keep those expenses low it helps a bunch.

 
  1. Didn't realize how lucky I was until I talked to some of my friends about their monthly payments. The biggest problem I see, and it probably doesn't apply to a lot of people on WSO, is that people are taking these large loan amounts and pursuing degrees / careers where the payback makes no sense at all. In the next 20 years, I think we're going to see a huge shift towards ROI or ROD (return on degree) metrics.
 

An old friend of mine walked out of an art school with over 220k in debt for a degree in designing furniture. The field can be exceptionally lucrative in the right circumstances, but you would do well to use the 220k toward funding your business not school.

In any event, her first job was making pre-tax $15hr. Just so you guy's don't have to do the calculations, she needed an after tax income of $18.75/hr to amortize her loan.

Destroyed.

 

None from school. I took out a 30k loan at .5% and invested it in stocks. I only make the minimum payment on the loan. Life's good until business school.

 
Freshbess:

None from school. I took out a 30k loan at .5% and invested it in stocks. I only make the minimum payment on the loan. Life's good until business school.

Did you read @"bankerella" article?

[quote=Matrick][in reply to Tony Snark"]Why aren't you blogging for WSO and become the date doctor for WSO? There seems to be demand. [/quote] [quote=BatMasterson][in reply to Tony Snark's dating tip] Sensible advice.[/quote]
 

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