Graduated? Great! Dream job that pays enough to lower your student loan debt? Even better! You’re extremely rare and I’ll be the first to say, I’m a hater of your happiness. But, but, but I swear, there is a reason for it…
Consider the following: You grab your mail after a long day of work at a job you give two fucks about and go into the house. Even though you hate your job, you’re grateful for it and recognize it’s better to have one than to not. All in all, it’s been a pretty good day! As you go through the mail, you see a white envelope from Sallie Mae, Navient or the Fed Loan. You rip into that letter thinking there’s no way my forbearance/deferment is up yet?! Can’t be?! IMPOSSIBLE! Oh, but it is and it’s time for you to come up off that paper or your credit history will be as bumpy as Freedom Drive. You think to yourself, okay sure, I can afford $150 a month; no way can it be more than that. Oh but when you read the eloquently written letter, you learn they need $350 and not a penny less. The fuck?
The problem with this scenario? Glad you asked! College no longer promises you the career you want. It no longer guarantees that you will end up practicing the skill you spent the past 4-6 years honing. However, that’s the dream they sell. You know what’s sobering? Working alongside individuals that only have a high school diploma on their resume. They don’t have 1-800 and unsolicited numbers calling them for that student loan payment but they are earning the same amount of money as you. How in the hell did you avoid $60,000-$150,000 worth of debt but still ended up in the same position as me? Oh, the envy is real!
That student loan sits on your credit like a bird perched on a limb and if you’re paying it, it feels as futile as building a house in a tornado. The best way to avoid the college debt trap is to go to a highly, highly accredited university, that will only run you $60,000 a semester. The chances of you waltzing into your dream job that pays what it should, drastically increases when you graduate from a… let’s say, Wake Forest. Surely, if you can afford that a semester, debt isn’t really your concern. The educational system has become like most other things, in that it caters to the rich.
Take the money that you’re going to give to school and invest it in something else, become an entrepreneur. It’s a better way to invest in yourself!