Should I pay off my current student loan debt before going to grad school?
on atPosted In: Student Loan Debt
Corporate Bully asked:
I’m 24 married with a child. Should I continue working and create a plan to aggressively pay off my current student loan and then pursue a higher degree? Or should I go to grad school…accrue more debt…get a higher paying job and then pay off the higher debt? I really don’t want to increase my debt, but I want and pretty much need a graduate degree to continue climbing the corporate ladder at a fast pace.
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I’m 24 married with a child. Should I continue working and create a plan to aggressively pay off my current student loan and then pursue a higher degree? Or should I go to grad school…accrue more debt…get a higher paying job and then pay off the higher debt? I really don’t want to increase my debt, but I want and pretty much need a graduate degree to continue climbing the corporate ladder at a fast pace.
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Don’t consider it debt. You’ll be paying lets say 100$ a month. You won’t even notice. Go to school and get that education!
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debt is slavery even for ‘grad’ degree.
get a job in ur field , experience what u want to be. pay off the loans, save money .
surprise u may not like the field of endeavor.
when and if u go to ‘grad’ school u’ll be sure that is where u want to go.
visit daveramsey.com to learn about ur money / debt.
30% of ‘grads’ file bankruptcy in 5yrs – will u ?
smart business will put more creed to an experienced undebted candidate than to other.
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if you go to grad school while your previous loans are in repayment, you can let your lenders know that you are back in school and you can get a deferment or forbearance. that means that you wouldn’t have to pay off those loans until you graduated from grad school. then you could consolidate your undergrad and grad school loans together. certain federal loans though will continue to accrue interest, even if they aren’t in repayment so that may be something to consider. however, with a graduate degree, you will make more money, and be able to pay them off. go for it!