Hello everyone,
I'm coming up to a point where I have to start planning my strategy for paying back my student loans. I currently have about $30k in loans and by the time I graduate (1 year hopefully) it should be up to $45k max depending on how many more grants I can get for my senior year. I've been paying some if it from time to time when I have money so that's why it is down to $30k now instead of the mid $30k range. I've already consolidated my subsidized loans so I can lock in a good rate before the interest rate increase. About 1/3 are subsidized loans and the rest are variable rate private loans.
I'm curious as to how long everyone paid off their loans, how much they had owed after graduation, and how they did it. What kind of lifestyle did you have during the payoff period? I plan on living at home after I graduate for about 2 years so I can put a nice dent on the bills before thinking about getting a house. But I'd also like to be able to spend money on toys and hobbies (you're only young once
) I currently have several grand in stocks and market funds and I've already started my 401K. I live at home and work part time which gives me enough money to pay my own way through my daily life. Is it possible for me to start saving for a house, pay down a good portion of my loans and still be able to have a comfortable spending limit once I graduate? I know it sounds like a fantasy, but maybe there's some tactic I overlooked.
Thanks,
Robert