This post is going to be a little rambly but try to follow anyway.
I’m pretty deep in student loan debt. This blog is linked to one of my new entrepreneurship ventures so I won’t put the full amount out there but know, it’s a lot of debt. I mean you give 18-year-old loans, what does she do? Take them all. I took out loans each year of college, even when it wasn’t necessary. I take full responsibility now. I know a lot of people say well they shouldn’t just hand out loans to kids. Well, the parents should be teaching us about the downsides of too much debt. Student loans can be good debt if you complete college with under 15k to pay off. Anything over that becomes a burden, especially if you majored in Pottery. When I think about it, people manage to pay 25k-30k for a car over 5-7 years, people can pay off student loans. Well maybe, it feels like car interest works differently than student loan interest.
I digress, more education is necessary and this blog isn’t the place for that yet.
So I’m over my head in student loan debt. I mean my monthly payment is crazy. It’s mainly because of the private loan. My goal is to eliminate the smaller private loan within 3 months of my raise (if I get one) and then use the rest of the raise to tackle the larger private loan. If I play my cards right, I can have the private loans finished in about 1.5 years. This releases that burden and I can begin to save some for my 3-6 month emergency fund, then the credit cards, then a house down payment. Honestly typing that order of operations out just depressed me a little bit. If you need me, I’ll be dreaming of a glass of wine.