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80k in college debt is a bit high. The aspect I look at is decision making capabilities. I realize some people 'learn' in some tight knit small college settings, so paying a lot to go there may be best for that individual. But if you are going to a small private college, I would guess you had to plan on getting a degree in some field that one hoped to be employed in. How could you justify adding 20k in debt (and interest) each year, if you would only make 30k per year when you got done? The plan only works when she gets married and someone else has the main breadwinner role, and her money can be used to service her debt...or lottery. So unless you have a good job I would avoid this situation. Sounds like her decisions have been made so that she is looking for someone to take care of her.
Me...I put my self through school at a large land grant University. Was considering some specialized colleges or the Ivy League, but I knew I couldn't pay for it easily.
I dated this girl for a while but have since broken up. One thing that scared me away from her was the amount of debt she had. She had $80,000 in private school loans to pay off.
Would you keep dating somebody knowing they had this kind of debt?
I don't see how this would affect dating. Just be careful with any promises or commitment. Now days, this could come back to bite you.
You are right to be concerned. Not every story is the same but this is usually a red flag, especially for a man. He usually has far more to lose.
I dont know why people date if they dont want to be serious about it. What are we teenagers? I date w/the intent of marrying somebody. So it seems to make sense to look at all the variables.
The way I look at it... she's got $80k in debt. Even with zero interest that is probably going to be a solid 10 years of hardcore debt paying. Especially on a social worker salary. And then what if we have a few kids and she stays home with them. Nothing wront with that, but that is another serious chunk of payments that I get to pay for. Just trying to be practical about it.
Making $30,000 out of undergraduate school for a social worker is pretty normal. Give her a few years to get some experience. Good, high paying social work jobs only come with experience, not just the degree.
Licensed social workers can make decent money. And I would know cause I'm one of them. If I wasn't paying of my student loans and credit card debt, and a single mother of 2, I would consider myself well off. I have more debt than she does, but I have a Masters Degree. And once I get my independent license I am going to get a job working in a community that doesn't have a lot of LISW social workers and get $25,000 paid toward my student loan debt. So I will be debt free by the time my kids get ready for college, and then I can do it all over again!
As far as dating someone with debt, yes I would. But not if the person is currently making poor financial decisions. Like running up more credit card debt, not paying bills on time, bouncing checks, credit collectors calling.
Good debt like school loans for a professional degree - yes I would still date. At 20 I probably would not have even thought of it bad or good. Now, no way bad debt - no way! LOL!
I dated this girl for a while but have since broken up. One thing that scared me away from her was the amount of debt she had. She had $80,000 in private school loans to pay off.
Would you keep dating somebody knowing they had this kind of debt?
your instincts are great. if you marry her debt will attach to your income.
I dated this girl for a while but have since broken up. One thing that scared me away from her was the amount of debt she had. She had $80,000 in private school loans to pay off.
Would you keep dating somebody knowing they had this kind of debt?
Student loan debt is debt for a good cause. However, if she was not able to pay her bills then this might be a red flag. If she is paying her bills on time, I don't see the problem.
When it comes to dating, I would break up with a guy if he had 80,000 dollars in credit card debt. A guy with 12 credit cards who doesn't seem to care about paying any of them off would be a big red flag for me. Even worse, I would not even consider dating a man who makes huge cash advances on a regular basis or even worse has a huge gambling debt.
I agree with the consensus - college loans are okay. But only if that person actually finished their degree. But that also may depend on what he/she is doing, i.e., their ability to pay. That should be left to your personal quirks.
Law school and medical school can leave a person with more than $150,000 in debt. But an attorney/doctor should easily be able to pay that off in less than 10 years (assuming they dont work in the public sector. but even then so).
I wouldnt mind a girl with high student loans even if she only made something like $40,000 a year.
On the other hand, a person neck deep in other types of debts are mostly signs that the person is financially unstable and doesn't know how to handle money. I'd stay away from those people.
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Would you date somebody in serious debt?
