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Move into the poor house and put everything towards the loans
Combined my wife and I had about $60k in student loan debt. Paid it off in about 4 years. That last payment was such a great feeling.
@op are your interest rates really high? I graduated with around $120k and am down to my last 5k after 7.5 years. I made slightly more than the minimum payment each month, and put all bonuses directly on the loans. I refinanced a couple years ago from 8.5% down to 3.5%. I live in NYC so my cost of living is also very high... so I feel like if I could do it, anyone can.
@op so I guess my point is, I wouldn't switch to industry just to pay off loans, as I think you can do it without doing that
Maybe consider leaving NYC and moving to a place with better COL.
Switch to industry? Also, I would be paying 20% of my annual income to loans. Or would you stay in public and pay minimum payments for the next 30+ years?
I'm only paying min payment, but my interest rate is 2.8%
I live in NYC too and my interest rates are between 8-10%. I need to get better credit before they will let me refinance. I just feel like I need to get my salary up quick if I have a shot of tackling this debt and keeping my sanity.
@op you may get a big jump in salary if you leave but then typically after that you would be getting much smaller raises. Not sure how close to manager you are but personally I felt like it was worth the wait, as my salary has grown a lot in the past couple years.