10 year student loan repayment plan and live poor or 15 years and live slightly less poor but with a higher rate?

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5year and live very poor. That way you can become rich

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This is the dilemma that made me swallow my pride and move home. Going to have it paid off in three years instead of ten

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Locking yourself into that repayment schedule sounds a bit risky. I recommend taking the longer-term, accepting the higher interest rate, and doubling down on the loan repayments as recommended by M1. This will allow you the flexibility to pay down more quickly when you are able, and to stretch it out a bit if you must.

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I'm federal too with immigrant parents who paid negative dollars towards my education (meaning I was supporting them through undergrad and grad school). God bless man, you have a hellish toad ahead. My advice would be to put up to 50% of post tax income towards your loans and sacrifice all else until you repay it. That allowed me to repay 50K in 3 years. The freedom of being debt free makes it all worth it in hindsight. Good luck!

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Yea I'm 27 and also moved back. Fuark what society says

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I took the longer payment and doubled down my monthly payments. I always wanted the flexibility, especially since I needed more cash when I was fresh out of school and had nothing than I do now.

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Dad saved no money for college. My student debt is $120k. Just started. Also im federal we arent payed as much either

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It will be less daunting if you did a spreadsheet with your salary after tax and deductions and different scenarios for loan and life. Don't sacrifice so much that you don't have any fun.

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This is the type of delima that keeps me from wanting to go to grad school.

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You do you

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Depends on the rate. If you're not international student debt is usually at a pretty low rate so going for a 15year is probably not a bad idea. Then, like that other person said above, you can pay additional principal whenever possible to reduce your principal balance and therefore interest owed in total.

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Holy crap how much do you have in debt that your minimum repayment timeline on a consulting salary is 10 years?

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You've got this, OP. Take the longer term, for the flexibility. Also, depending on your career interest and aspirations, consider making a move to a more lucrative practice at EY in order to get out from under the debt.

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Thanks, i'm gonna need it

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It would probably be a few years before I could switch to commercial P1. Still need to find out exactly what I wanna do in this field

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Understood, OP.

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Good plan.

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I have this dilemna too

Had to move away from everyone i know because of the job out of college--so no parents. Low balled for salary too 💔 Yearly payments for my loans for 10 year would be a 1/3 of my salary (after tax)... i have a lot of debt

Road* not toad

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