How bad is student debt for your financial future?

How bad is student debt for your financial future?

>t. highschool senior (18)

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It cannot be paid off

Do you have student loan debt?

Only consider taking on debt if you are actually smart and getting a stem degree

lol this guy looks like my chinese food delivery man

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if you are actually smart, you will graduate with zero student debt and get by on scholarships and grants

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is that the main character from squid game

Avg debt you get graduating college is around 30k

Avg pay for your first time out of college gig is like 40k

You’re not going to break even for a couple years like 2-3, 4 or 6 if you’re a nigger consoomer so round that up to 5, on average youll lose about 5 years because of (((student loans))).

Really bad. You'll be in the negatives for years.

99% of the debt is going to be you mishandling the funds.

It’s good for you

I took out only fed student loans for 4 years of college and paid it all off (~26k) in full within 1 year of graduating, throwing full paychecks at it and living at home until it was gone. it's a fair trade for a stem career and you should try to get more and more scholarships each year of college. if you go for stem and get decent grades you should get some eventually

that said this doesn't include the upfront costs that classes require like logins, homework access, lab access/materials and cost, etc. it's a grind but you've gotta play the game to get the cheddar

The time spent in school is pretty bad, you spend 2 to 4 years not earning or investing, that's the worst part.

dont go to college bro

lemme guess, get a trade?

unless you have something lined up right after high school, your opportunity cost of going to college from an earning perspective is basically negligible.

Just don't, unless you have a specific career in mind that you need a degree for.

Yea if you make good money when you get out it's probably not that big of a deal user.
Lots of people say college is fun too.

i graduated with 81k in student debt. thankfully i had a very high paying job and was able to live at home for about a year. i devoted nearly 100% of my income to that debt and eliminated it in about 1.5 years. that was over a decade ago. my sister had a similar amount of debt, but her employment prospects are poorer. she will likely be in debt throughout her 30s and perhaps even her 40s.

Holy shit. This vid is Terminator proof of concept

Is there a reason to aggresively pay down student debt instead of paying in small bits and investing most of the money instead? The average yearly return of the S&P is higher than the interest rate of the avg student debt.

ive been paying mine for 11 years. it's ruined my life.

if you're going to ruin yours. do not get a cosigner.

depends on your situation. i'm planning to pay the littlest amount i can and invest the rest until i make it

believe me, after having the loans for 4 years while you're in school you'll be sick of knowing they exist and accrue interest while you can't pay them off. getting rid of it as fast as possible lets you keep more of your paycheck sooner than later, allowing you to build up savings that much faster. I know a guy who came out with 80k+ in debt who goes on vacations to japan and around the country, and bought a house - he still is paying off his student loans. he also has 2 btc. it's all about how you want to live and how long you want to keep those debts with you. personally I'm debt free and would rather be

>do not get a cosigner.
redpill me on this