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50k from grad school. Set allocation. Usually 50% of my earnings post-rent/utilities.
0 undergrad, 35k grad school
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 :)
Just graduated. About 10k in debt.
Just graduated last month with zero college debt and about 50k left in my college fund. I'm saving it for a possible graduate degree (most likely wont need it though).
~$80k from undergrad. Should have enough to pay it off post 2nd year bonus. Likely won't though as it's at ~3% interest rate.
What kind of debt are we talking about here?
This. Although if you don't plan on entering forbearance or deferment, it's not as relevant.
The kind that makes your balls shrivel up every time you swipe your Amex.
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.
Agree with @kpx5ar4SSW, unless you have savings about the size of your debt (which almost no one coming out of college does), you can't really try and arbitrage the interest rate
~75K from b-school in Canada. I was really stupid with my money. Down to 47K now. What a grind
$35k government loans. Also have $15k sitting in a checking account.
65k from undergrad. Blasted it down asap with that 08 trading money
$0. Thanks Mom and Dad.
I had $25k and was able to pay it already even earning that ops salary...
short answer for me: too much..
suck it up when you're young and pay em off..
0, specifically chose schools based on this reason
removed
55k. Graduated in 09 and decided that I was comfortable carrying the debt since it was only ~3% interest rate and put my earnings into equities. In hindsight turned out to be an awesome decision. Might decide to pay it off though when rates inevitably rise.
10k in loans. Thanks for reminding me that I definitely need to figure out where it's all due.
Hopefully none, but it might be able 15k or so which shouldn't be hard to pay down.
70-80k grad school and undergrad. Do not graduate until the December, so I have a few more months to figure it out.
About 30k
0 thanks to scholarships and working a shitty FT big4 audit job while studying.
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.
$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
Get an IB job.
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).
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.
I could have sworn I'd seen that somewhere else, then I looked at my signature.
k 2 b jelly
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.
Graduated undergrad with 15k in debt.
$0.00 Made a deal with my rich Uncle Sam. Now he's gonna pay for most of my MBA.
Isn't he a great guy? I love my Uncle Sam too, he was always so generous with my allowance each month hahaha
10k from ugrad. would like to point out hat i only got ~7k in cash. it was a government fix rate at ~6%. never underestimate the power of compounding.
paid off as soon as it hit ~half year after graduation
27k from undergrad, but just walked in may and already 3k in interest. about to take another 20 for grad. Counting on putting a big chunk towards it every month + probably some bonuses when full time.
43k and climbing....it's honestly a bit scary to me that I can approach this with a straight face with no concern. Probably because it's just inevitable.
13k, undergrad--did the double major and scenic route through college however.
Quickly looking at all these posts the most mind-boggling thing is, people actually get into 100's of thousands of dollars of debt, pursuing a crappy degree from a bumble-fuck school. Which of course, has terrible job prospects that pay 40 grand a year...
America is going to shit
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.
$5k undergrad. $0k for grad school (employer paid). Married into $30k two years ago. $0 remaining.
15k from undergrad (just graduated!) because neither my parents nor I paid anything during my 4 years. I'll be paying 10% of my monthly income for quite a while
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?
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