Reply to If you took out six figure student loans for a professional degree, what was your strategy

Forum Index » Money and Finances

Reply to "If you took out six figure student loans for a professional degree, what was your strategy "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I graduated with about $90k in loans from my MBA program and had a 10 yr payment plan. I paid it off in about 7 years right after having my first kid. In those 7 years I made regular payments, lived at home and did long distance and made double payments. My husband graduated with about $180k of debt from an MBA program right before we had our first. Since my loans were paid off I could use my income to pay rent and the nanny while he aggressively paid off his loans. We lived in nice rentals until most of his loans were paid off and we had saved the down payment in cash (without selling any equity from our jobs). Alot of people thought we were crazy for renting and not buying and that we were throwing our money away but the money we would have spent on maintaining the house and big projects went towards loans. We didn't want to sell off equity for a down payment because that equity grew more then a house would appreciate (FAANG company). We also didn't know where we were going to settle down. Once my husband found his dream job, we moved and bought a house with less than 3% interest rate. It's a house we can live in forever. So our strategy was to really focus on paying off loans before we committed to a house and that ended up being the right strategy for us. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics