Is 5 Years To Pay Off 100K Realistic? 👀

#studentdebt #debt #studentloans #viral #asu #asucollege #college #collegestudent #loans

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[Viralbutnotyet]

wait until she finds out its not fixed and it is variable.

[jamesscott]

Two things. One, she chose a degree that is needed in this world. A USEFUL degree. Second, she already has a plan, a goal. That puts this student MILES ahead of her peers.

[NYC]

Most kids are majoring in time and space that's what they're taking up.

[bobmcbobson]

Engineering management is more of a degree you get after you serve as an engineer for several years.

The 4 year one with engineering…. Not so much

[ShadelessGhost]

5 years is most certainly doable if following Dave Ramsey’s plan.

[joncarbone]

Paying 20K/yr isn't too hard if you're making 150K+. The problem with making 100K/yr is the government will take close to 30K of that. Leaving you with 50K to pay for rent, car, bills etc. Almost impossible in states where these jobs are.

[JSICycles]

It’s not the $100K in student loan debt that’s a problem in itself. Buying an older low cost car, not eating out or getting delivery and keeping housing costs as low as possible would make paying it off in five years very manageable. It’s always the over the top expenses that causes the problems

[bryangriffin]

My mother is in her 70s still paying on student loans, but that was her dream to be an English teacher. She’s at a university. She’s a professor pretty amazing. She always wanted me to go to school, but I didn’t want the debt. I’m 52 I have a house. I only have a few thousand in debt mostly I live to my means know, I didn’t want that stress of owing. I don’t know something inside me. I have to pay my own way and I don’t wanna pay that much. It’s not worth my stress.

[davidmark]

You should have to interview with people who work in the field. You want to understand their salary and their lifestyle and their expenses before you acquired debt to get that career

[ZaneGeeting]

At current rates on a simple interest loan, $100k in 5 years would be roughly $2200 per month. Taking an entry-level position right out of college is not going to afford you the luxury of doing that unless you live with your family and own nothing.

[icepicjoey]

A good degree that will land her a good job and a plan with a self set deadline to pay it off.

I wish her luck, Bravo.

[scottjones]

I make a 100k a year and i didnt even make it through high school

[garyowen]

I’m not sure what an “Engineering Management” degree is, or what they do. I would assume from the title, they would manage engineers, or manage projects. I’m a retired engineer, and all of our project managers were also engineers. Some of the bosses, were engineers who also had an MBA.
Even our marketing director was an engineer, he wasn’t a PE, but he could walk the walk during a sales pitch.

[CardboardKeene]

I was lucky enough to get my first job through my career service advisor. I think that is what did me the most good through my college, getting the connections. My bachelors classes were a complete waste, and my advisor said as much as well. “Doing it for the fancy paper”. College can work wonders for certain jobs, but I personally would have been better off I had just paid for an apprenticeship or something if I didn’t go to college.

[Papahof]

The only qay she pays that off in 5 years is to live qith parents and ride the buss to work or join the army and use their srudent loan repayment program... both options suck right now

[robertmagill]

Interest rates for student loans should be based on your major. If you're aiming for a worthless degree then it should be higher. It should also increase if you change your major during college, especially if it's to a worthless degree.

[jnm.]

She's going to make a lot of money. She can do it if she prioritizes. Don't buy a luxury car apartment or luxurious vacations for the first few years of work. She'll be better for it. She's a champ!!

[pistol]

I got an electrical engineering degree and had 50k in debt when I graduated. I paid it off easily. Matter of fact, I delayed paying the cheapest loans off as a means to generate credit history since interest rates were 2%.

[thegiggler]

All young people should be building up a huge portfolio as fast as they can in a tax advantaged retirement account. That means that not paying your student loan back quickly would a much better financial decision

[PatrickNovotny]

Does this interviewer know anything about student loans? Fixed or Variable? Can you refinance that? Wtf?