Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
agreed here that $45 grand is too little to accept --long term. I recently had one new0hire with your credentials land a $70+ grand for a flunky position here in CA. Just getting his foot in the door, after six months he ended up landing a great PM job with the state government. Good luck to you. I can totally relate to your story. As our president said upon inauguration, the time for thinking small is over. Think big my friends. Keep us posted on your progress, okay? Nice thread!
Exactly. Here is someone who understands the value of not settling and the opportunity cost associated with it. You fold, they win, you lose.
You need several important things to pay of that debt:
1. A decent paying job and dual income from your spouse
2. To decrease all expenses by moving back home into your parents house, or finding a roommate, or renting out a room
3. To get a 2nd or 3rd job
What does your wife think about this? How are you 43?
The key here is a decent job, without a decent job you are stuck between a rock and a hard place. Personally, I would start searching google for every forum/message board I could find on people who were also in massive student loan debt to see what they did.
There was no promise. There are no promises in education and no promises in business. The only promise made in what you have related here is that you promised to pay back $120,000 - but rather than do so, you'd prefer to start building a retirement nest egg without having to go through the tragedy of actually working.
You refuse to take a job that, beginning on day one, will pay your expenses and leave you something more to spend or save. How much less are you making now sitting at home and whining to the internet world that you can't make enough money and don't want to fulfill your financial obligations that you entered into willfully as an adult apparently intelligent enough to get two masters degrees in whatever fields?
Perhaps you should have asked for advice before embarking on an educational spending spree without having a business plan in mind and now trying to convince yourself that you are simply too old to get a job. Why should anyone here assist you in weaseling out of debt that we have been paying for in our taxes?
Drive a cab, stock shelves, mow lawns or dig ditches if that's all you can get at the moment - it will help you get hired the next time another "insulting" opportunity comes along; nobody wants to hire an idler and they can smell that all over you, unmasked by your degrees.
Don't dismiss tutoring. A good friend of mine is charging $80/hr and has to turn away students. He has a PhD in Biology and found his niche: he tutors students about to take the DAT (Dental Aptitude Test, like a SAT to enter dental schools). All of his tutorees got very high scores on the DAT and were able to get into their first-choice schools. While it took him about 4 years to develop his niche and slowly hike up his rate, it can be done. He tells me that tutors in math/physics/chemistry are also very much in demand. And he does 95% of his tutoring over Skype. He started with Wyzant.
You have a MBA, as I do. You can do a SWOT analysis of tutoring in your local area, identify a niche and carve out an approach to exploit it.
I got my MBA in 1999, from a school ranked in the top 15 at the time (I think it was #11). The degree didn't help me much in my career, but the knowledge it gave me for managing my personal investments has been invaluable. I don't regret getting the degree at all.
Are student loans deferred when taking one community college class? My understanding was that you had to be enrolled full-time for loan deferment.
Also, may want to cross the "Get four $30K unsecured loans and declare bankruptcy" off the list of options. Hard to imagine anyone who has been out of work for years getting even one unsecured $30K loan, let alone four.
Most continue to work full-time and take night classes (after a certain age).
This is perhaps why that mountain of $120K debt is there.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
