I need some advice on my student loans

[ShaneEnochs]

If I understood how debt really worked two years ago I would have never went to college, but alas, I was ignorant. For the past two years I've been racking up student loan debt, using the excesses to supplement my income.

At this point, I feel like I'm at a precipice. I don't want to go into further debt, and I also believe that getting a degree is not going to help me in the job market in the slightest, so I want to drop out to avoid piling on the debt even more.

Here's my question: with me making barely enough to get by, I really can't start repaying the government loans yet. However, I do see a promotion in my near future. Should I drop out now and try to get a deferment, or should I wait it out and go deeper into debt?

 

[thoughtomator]

kicking the can is not a strategy with a great track record for the long term... choice is yours of course

 

[Kluge]

Get a deferment. I can't recall exactly what you were/are majoring in, but I think you were questioning it. Take some time and really investigate what you want to do and when you figure it out, you may need some training or education, or you may be able to work with someone at a reduced wage in order to learn the skill. I'm thinking along the lines of plumbing/electrical, etc. Solid professions like that.

 

[Aden]

What is your major.

 

[newbitech]

student loan debt is going to catch up to you eventually. It's not designed to make money for you. Keep that in mind. A degree is not going to help you in a currency collapse. What will help you is having enough sense to know when to get out of a bad situation before it literally kills you.

The government cannot collect it's debt if you cannot prove your income. That is all you need to know.

 

[KCIndy]

Shane, my understanding is that the student loans are deferred until you complete your degree or drop out of school. It is only when you are no longer a full time student that the loans go active, correct?

 

[XNavyNuke]

I suggest you cut down to one class per semester/quarter. Choose something thats vo-tech and try, and take it one day a week in the evening. Then work like hell the rest of the week to bail yourself out and build up a grubstake.

XNN

 

[Exam Papers]

Don't quite, I think you should keep this continue....

 

[Inkblots]

Get a deferment. I can't recall exactly what you were/are majoring in, but I think you were questioning it. Take some time and really investigate what you want to do and when you figure it out, you may need some training or education, or you may be able to work with someone at a reduced wage in order to learn the skill. I'm thinking along the lines of plumbing/electrical, etc. Solid professions like that.

It's a nice thought, but with housing still in the toilet, you have to be careful which vocation you pursue. I have an uncle who's a union master carpenter and a cousin who's a union electrician, and they've both had trouble getting work for years now. So if you go the vocational route, you should consider one that isn't so reliant on construction. Perhaps a stationary engineer, or a mechanic.

 

[KCIndy]

It's a nice thought, but with housing still in the toilet, you have to be careful which vocation you pursue. I have an uncle who's a union master carpenter and a cousin who's a union electrician, and they've both had trouble getting work for years now. So if you go the vocational route, you should consider one that isn't so reliant on construction. Perhaps a stationary engineer, or a mechanic.

Plumber.

Recession-proof work. Remodeling can be postponed, as can the rewiring of that pesky electrical box that keeps throwing circuit breakers. But when ya gotta go, ya gotta GO! People will always find the money to make sure the toilet works.

 

[tttppp]

It all depends on your major, the job you have now, and what you want to do with your life. Some majors really are not worth much, and if you have one of those, I could consider dropping out. If you have a good major, it really doesn't make sense dropping out and wasting all that money.

 

[Aden]

He said he's been in school for two years. If he has a crappy major like poli sci, history, French or art, then he should consider switching majors to engineering or something useful. Heck, even hospitality would be better than the social sciences because you could get a gig as an assistant manager at a Marriott or Hilton property, and in a few years land a GM position.

What major are you OP? What college?

 

[ShaneEnochs]

Major - Applied Behavioral Science

School - Ashford University

As far as what my major is all about, I assume it has something to do with psychology. I honestly have no idea. My adviser literally stuck me in it when I said I wanted a "science" major.

 

[driller80545]

Oilfield's hiring roughnecks!

 

[tttppp]

Major - Applied Behavioral Science

School - Ashford University

As far as what my major is all about, I assume it has something to do with psychology. I honestly have no idea. My adviser literally stuck me in it when I said I wanted a "science" major.

That whole field is worthless in my opinion. I would switch to something that definitely has jobs available for graduates, and something that might make a difference in the world.

I would tell your adviser you want a major that has jobs.

Also, my guess is that many of the science majors requires more than a 4 year degree to be worth anything. So you should ask how much education is necessary for your major.

 

[Simple]

Just switch majors. Your gen eds and science courses should allow you to switch to a major that actually teaches something that might earn you a paycheck, like chemistry or computer science. Find a part time job so you don't have to borrow so much. I know, it's not perfect but its like in MacBeth where they told him that he's so far stepped in blood that it is no easier going back than it is going through with it.

 

[ShaneEnochs]

Problem is there ARE no science majors at Ashford. My adviser, I believe, is more of a telemarketer.

 

[pcgame]

..

 

[tttppp]

Ashford doesn't really have a good reputation. I would either accept that I wasted my time, drop out, and go back later OR

Many colleges that do not have science majors, do have science classes. Check and see if these science classes will transfer to another superior university that does have a science major. If you can get biology, chemistry, math, english, organic chem, so on. You can get the first couple years of a degree done.

But before you do anything, make sure you figure out what you want to do with your life. Don't transfer to a science school then change your mind and want to do business or something. Figure out what you want to do first.

 

[Sam I am]

If I understood how debt really worked two years ago I would have never went to college, but alas, I was ignorant. For the past two years I've been racking up student loan debt, using the excesses to supplement my income.

At this point, I feel like I'm at a precipice. I don't want to go into further debt, and I also believe that getting a degree is not going to help me in the job market in the slightest, so I want to drop out to avoid piling on the debt even more.

Here's my question: with me making barely enough to get by, I really can't start repaying the government loans yet. However, I do see a promotion in my near future. Should I drop out now and try to get a deferment, or should I wait it out and go deeper into debt?

What's your major?