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Sorry again, I know I should probably "take action" and "stop depending on the internet to help me solve my problems," but here is where I am. I'm a 20-something woman who is STILL in college; I've been going to college for about seven years and am not currently pursuing a doctorate. In fact, I might not have even chosen a major that suits my skill set. I've paid for most of my education and living expenses with student loans. Living at home is not an option for me, so rent is an expense I have to deal with. I work as a substitute teacher during the year to supplement my income, but the kids are so mean to me that I dread going to work. I feel like every bad day I have with the kids is a poor reflection on me, but I can't do much more to improve.
I've accumulated several thousand dollars in student loan debt, and I'm still finding that I need to keep going to school to take out loans so that I can make ends meet. It's really not so much about paying for college; this has become a way of life. I don't make enough to even start paying the loans back, so I keep borrowing to go to school so that I can defer them.
I also have little confidence that I can get a job of any kind around here. I've interviewed for teaching positions for which I was qualified and have been turned down. How could I possibly get a job doing anything if I can't get a job for what I went to school for? I'm running low on confidence and getting deeper in debt. I know a lot about going to school but very little about finding a job. All of my work experience has seemingly ended in failure. I haven't held a job for more than a few months anywhere, ever, except subbing, and I wonder why they tolerate me.
I would really want nothing more than to learn the ropes, get a job, start a good tutoring business on par with everyone else (I haven't gotten a chance to check out the competition, but too many professionals who have been in the business for years offer tutoring around here.), and start actually saving money and paying my debts. I don't know how, though, and I feel like I will likely fail if I try something I don't know how to do.
Could someone, again, offer suggestions?
All of your posts are the same... except you ask them in different ways.
Not sure why you are expecting someone to have a magic bullet for you.
All of your posts are the same... except you ask them in different ways.
Not sure why you are expecting someone to have a magic bullet for you.
I'm just looking for new ideas. I have gotten some helpful advice from this thread. I'm also looking for people to share stories of similar experiences, if they've had any. I almost never venture outside my comfort zone in the real world. I want a preview.
I almost never venture outside my comfort zone in the real world. .
Maybe you should start there... in the real world.
No one can give you a preview... it all looks different for different people.
If you have insurance, maybe you can seek counseling. Seriously... it could help in your situation. As I read your multiple posts basically saying the same thing, I'm concerned that you need real help and not a forum.
I agree in general with what the other posters suggested, using student loans to keep going to school, to prevent having to pay your loans (because they're deferred while you are in school) is not productive.
That said - 1 semester away from a Master's degree...?? Even if you hate the subject matter, its a Masters and proof of your ability to do graduate level work.
I would finish your Masters (1 semester left is no time to walk away with nothing to show for it), but also use that time to formulate your "post college" plan.
I am assuming your loans are all federal (not private)?
A couple of things - loans come due approx. 6 months from graduation. So know the date and be prepared. 2nd thing - IBR (income based repayment) - it requires a good bit of paperwork, however once enrolled in the program your student loan payments are capped at 15% of your disposable income (your income above the poverty level for your family size).
If you can show that you have no income, you will owe $0 - but it will still count towards paying off your loans. After 25 years of payment, your remaining loan balance is forgiven (which may then be taxed as income to you).
IBR is a great program for someone who is nervous about their ability to pay, because it is directly proportional to how much you are (or aren't) earning.
Talk to you schoo's finanical aid center, or look up at government student aid website.
Lastly - I agree that perhaps some counseling might help you. See if your college doesn't have a counseling service - they may be able to help you determine what you want to do (career-wise, relocation wise) and help you to increase your confidence in your own decisions.
Go work in the oil fields. You'll make like $20+ an hour to start and work 80 hour weeks. A couple months of that and you'll have yourself an emergency fund and maybe life will look better from there. Maybe you can finish your degree without more loans.
I realize it's kind of horrible sounding, but it IS an option and it WOULD really work.
I knew a guy who was contracted to teach in different locations around the world. He and his friends did this for a living. Know a woman who is currently teaching in Saudi Arabia. She pulls in 6 figures and is under a 2 year contract. Her housing is free. This is enabling her to get caught up on her bills here in the US. There are agencies that provide these types of jobs.
I knew a guy who was contracted to teach in different locations around the world. He and his friends did this for a living. Know a woman who is currently teaching in Saudi Arabia. She pulls in 6 figures and is under a 2 year contract. Her housing is free. This is enabling her to get caught up on her bills here in the US. There are agencies that provide these types of jobs.
Yes, I've heard of them. It looks like all roads lead to leaving the state or country. That's not easy to do if you don't know anyone. It's easy for me to adjust to new surroundings quickly, but I would be much more comfortable if I had a friend, preferably one who speaks the language and also teaches, to go with me.
Yes, I've heard of them. It looks like all roads lead to leaving the state or country. That's not easy to do if you don't know anyone. It's easy for me to adjust to new surroundings quickly, but I would be much more comfortable if I had a friend, preferably one who speaks the language and also teaches, to go with me.
OP -
No all roads don't lead to leaving the state/country, but all roads do lead to you having to put together a concrete plan of what you plan to do - and then start executing those items.
Whether its income-based-repayment to lower your monthly obligation, or teaching English abroad -- either of those things will come to you, you have to pursue them. It may be that getting started (the dreaded "first step") is your biggest obstacle.
I agree in general with what the other posters suggested, using student loans to keep going to school, to prevent having to pay your loans (because they're deferred while you are in school) is not productive.
That said - 1 semester away from a Master's degree...?? Even if you hate the subject matter, its a Masters and proof of your ability to do graduate level work.
I would finish your Masters (1 semester left is no time to walk away with nothing to show for it), but also use that time to formulate your "post college" plan.
I am assuming your loans are all federal (not private)?
A couple of things - loans come due approx. 6 months from graduation. So know the date and be prepared. 2nd thing - IBR (income based repayment) - it requires a good bit of paperwork, however once enrolled in the program your student loan payments are capped at 15% of your disposable income (your income above the poverty level for your family size).
If you can show that you have no income, you will owe $0 - but it will still count towards paying off your loans. After 25 years of payment, your remaining loan balance is forgiven (which may then be taxed as income to you).
IBR is a great program for someone who is nervous about their ability to pay, because it is directly proportional to how much you are (or aren't) earning.
Talk to you schoo's finanical aid center, or look up at government student aid website.
Lastly - I agree that perhaps some counseling might help you. See if your college doesn't have a counseling service - they may be able to help you determine what you want to do (career-wise, relocation wise) and help you to increase your confidence in your own decisions.
best of luck!
actually IBR repayment can be 0.00 per month even if you had a few hundred bucks income each month. so they are pretty lenient in how they figure the repayment. it's 15% of ADJUSTED income, they don't count some of it so it's really easy repayment. AND i think it goes away altogether after you pay on it faithfully for 20 years (IBR). Then there is also unemployment deferment, low income deferment, forbearance, etc - all one year in length each- tons of choices to not pay anything for a few years if you can't afford it. Refinancing/ consolidating also allows you to start over with deferments, basically doubling the time you don't have to pay. Buys you time when needed. but read up on it online to find out all the facts.
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