25k debt for a top 10 LAC isn't a bad situation at all. I would not worry about the debt, it may seem like a lot to you but you need to look forward to the future and your career.

I work at a F200 in a senior management role and 80%+ of my peers are state school grads. And I went to an elite private college. Just the way it is, I don't care, they don't care. Learn to network, watch the people at your company and understand how the workplace operates, use the internship to get your first real job and never look back. IT's what you do in the next five years that will dictate your long term future far more than any college you went to or whether you have a 25k debt load (though agree with others that keep being frugal and living like a student for a few years and pay it off, then start saving for your down!). Keep the 20s super frugal and it'll pay off in your 30s.

Anonymous wrote:I had a similar amount of debt from attending a top school 25 years ago. Entry level pay was $30k. Paid off all the debt within 7 years, and it was worth every penny.

Back in the 70s, people could work a summer job and save enough to pay for tuition. Just sayin'.

It’s definitely manageable

Anonymous wrote:Thank you all. I think if I budget well like others have said I can pay this off in 10-15 years. I’m not as worried anymore. And although I’m paying a “premium” on my college education I do think it’s worth it. Thanks again. - OP

It should not take you 10-15 years to pay off $25,000. If that's your time frame, welcome to the hell that is compound interest.

$25,000 is not an unreasonable amount of debt coming out of college. Kill it early, avoid the compound interest nightmare, and move on with your life free and clear of debt. Even it means waiting tables or whatever for a few months and living at home while you pursue other opportunities.

Anonymous wrote:If you can work on weekends at a second job (tutoring, bartending etc) and payoff some of the loans when you are still young, it is even better. Many people go on vacations and spend $5k. Investing in education especially one you have enjoyed for 4 years is worth it.

Yup! Assuming 10 year and 6.5%, it will be ~$285/month for 10 years. I'd get a 2nd job like PP suggests, live on a budget and focus on paying it off in 5 years or less. It shouldnt' be difficult to do.

Anonymous wrote:Debt is to be avoided but in this case you are choosing an environment/experience that you need to succeed/maximize your learning. That is worth borrowing for.

The amount is equal to a car loan. Or the price of two older used cars. But this degree determines your life path. So I think it's worth it.

If the academic experience is meeting your needs, it's worth it. Keep your grades high and look for scholarships. Also do plan to economize when you get out of school. When you are in your early 20s, that is the easiest time to share housing and live modestly.

Especially since $25K is not that bad. It's about the maximum reasonable amount people should take (hence why it's also ~the federal student loan limit for 4 years). It's personal choice. IMO, I likely would have taken the state U free ride because I recognize that is still a large debt payment for 10 years and if you are "hoping you can make $60K when you graduate" you are not in a high paying field initially. But it's definately manageable if you budget and make a plan to pay it off in less than 10 years.

I had a similar amount of debt from attending a top school 25 years ago. Entry level pay was $30k. Paid off all the debt within 7 years, and it was worth every penny.

A good guideline is: total student loans should not exceed the likely 1st year annual salary of the profession.

Thank you all. I think if I budget well like others have said I can pay this off in 10-15 years. I’m not as worried anymore. And although I’m paying a “premium” on my college education I do think it’s worth it. Thanks again. - OP

Anonymous wrote:You need to get more education if you want a job good enough to pay off your debt. You need a masters or doctorate.

+1

There are long threads about humanities degrees requiring graduate degrees to get a good paying job.

However, I'm guessing that will mean even more debt.

Tough situation.

Anonymous wrote:If you can work on weekends at a second job (tutoring, bartending etc) and payoff some of the loans when you are still young, it is even better. Many people go on vacations and spend $5k. Investing in education especially one you have enjoyed for 4 years is worth it.

Agreed. This debt is the good debt. But pay it off as soon as you can. And you can pay it off very quickly. I would not be surprised that you can pay it off in a year or two.

Also, invest heavily in your health. Eat nutritious foods, hyderate with water, cook from scratch, don't eat processed foods, exercise, walk everywhere, meditate, live a minimalist lifestyle. Don't drink, smoke, vape, do drugs, gamble etc.

Also, once you are working - understand the benefits that the company offers and avail it fully.

Make youtube videos on how you are paying off your debt. You will have another income stream.
Clean homes on the weekend. Walk the dogs on the weekend using Rover.com. Do laundry for others on the weekend. Start cooking for others on Shef.com. You need to live frugally and you need to also have other gigs.

Heck, you could pick up free stuff from Trash Nothing and sell on Facebook marketplace. But - be done with the debt asap.

If you can work on weekends at a second job (tutoring, bartending etc) and payoff some of the loans when you are still young, it is even better. Many people go on vacations and spend $5k. Investing in education especially one you have enjoyed for 4 years is worth it.

Live like a poor person for one year, eating rice and beans - and pay off the damn debt.

Stay for free with your parents, or share accomodations with others, learn to cook from scratch, absolutely slash off all expenditures that you can and pay off debt.

Don’t be hard on yourself, OP. That amount of debt isn’t that bad. If it makes you feel better, I graduated many years ago with comparable debt in today’s dollars. I had a low-paying entry level job and lived with roommates for a few years. The monthly payments weren’t outrageous and I learned to budget around them until they were paid off completely.

The reasons you cite for choosing your school are understandable. If you had made the opposite choice and not had a good experience, you might be thinking that some debt was preferable to spending four years being disappointed and thinking “what if?”

Good luck. I think you’ll be fine. (And it will help build your credit rating when you pay on time.”