Reply to Do I consider my SL debt?

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[quote=Anonymous][quote=Anonymous]warning about student debt:  I had 90k student debt when I graduated with an MBA 10 years ago.  My salary went frm 40k to 85k, so I felt "rich".  I was single and no house, etc., so it seemed like a fortune, but my MINIMUM payment for a 30 yr payoff was $800/month.  I had to double it to $1700/month to get out from under the private portion of the debt in 5 years.  I now "only" have 30k left but at a low interest rate (2%), so the payment is only $200.  If I had a house payment, daycare, etc. I would have been in worse shape.

In short, your salary will go up, but have you calculated how much your monthly payment of debt is likely to be?  This is essential.  Definitely include it, and if you're thinking of having kids, a daycare payment of $1000k minimum per kid is a good one to factor in that they don't include as a requirement when calculating what you can afford for a mortgage.[/quote]

Yes, the other thing people often don't consider is the taxes go up too with your income.  And the compounding interest.[/quote]

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