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Like others have said, don't get more student loan debt than you can pay off in a few years (maybe 7 tops). You don't want to be paying on it for decades.
I've heard of people getting into $100k+ in debt for jobs that pay $30k. That's not smart. But if you get six figure debt abd will make six figures then why not?
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Is this something that comes up during the first few dates? I'm trying to figure out when/how you would ask this kind of question.
I would not be thrilled about it, but it happens. It depends on how much debt and whether they have a plan.
I wonder about the first part as well.
I'm not in the dating market now. If I was though, I'd be more concerned about how the person handled their overall financial situation in the present.
I worked my ass off to graduate debt free and when I meet someone that is financially careless, it's a turnoff. The creepy guy who showed up at my house recently told me (while drunk) over dinner about all his financial woes and how he had to get an advance from a client to avoid bankruptcy. And yet, here you are, spending money on booze. Classy.
Debt itself is not a problem depending on their assets, income, ability to pay it off, int rate, etc, but since you said they can't pay it off anytime soon, forget about it. Huge problem.
a useless degree from a no-name school would be a turn off by itself. a ton of debt with that definitely wouldn't help. that being said i don't have dealbreakers. if the dude is just awesome overall (and perhaps has improved in his choices since he was 18), i'm sure i'd consider him
Is having too much student loan debt a deal breaker if that person will not be able to pay it off anytime soon? They got a worthless degree from an out of state school
It is if the one with the debt doesn't have a viable plan on how "they" will pay off the debt. Using OPM (other people's money) is not a viable plan - in other words, if they think getting a MRS degree is their way out of the jam they created, no thank you! You created the mess, now you fix it.
One of the biggest ways to sink yourself is to attach the ball and chain of debt around your waist or worse, your neck. Majoring in a degree that does not earn enough to carry the debt is a "non-starter". Sorry, but that goes for degrees like Women's studies, sociology, anthropology, archeology, history, journalism, etc. If the job pays $25K annually before taxes, just how in hades do you think you can pay off a $200K after-tax loan?
I worked my ass off to graduate debt free and when I meet someone that is financially careless, it's a turnoff. The creepy guy who showed up at my house recently told me (while drunk) over dinner about all his financial woes and how he had to get an advance from a client to avoid bankruptcy. And yet, here you are, spending money on booze. Classy.
Congrats on graduating "debt free".
It's like dating a smoker - you know it causes cancer, so a)why expose me to it and b) if you want to eff yourself off, do it someplace else.
How much is too much? Are they still a student? Are they getting more loans? There are way too many variables to make a well informed decision without having all the details.
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