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What would you do? Advice!!!?

I'm old. Im 23 and still in school. I have a huge amount of student loans (we're talking like $20,000)

and I'm most likely only going to make around $35,000 per year after I have my degree.

Since I'm 23 and I had to move out because of my age, I'm financially independent and I'm working 40 hours a week at a photo studio (a job I love) and going to school and just got a bartending job ontop of everything. I make $16–$18 per hour bartending. That's more than I made being an intern (I made $14.50 being just an intern.)

All of my friends are buying houses and fixing them up and have regualar steady jobs. With bartending and the photo studio I only make about $30,000 per year :(

Is finishing school really worth it? I desperately want to get a small house. I've even been talking with a realtor and have a portal that he can send me listings on that are appropriate for my income. I don't make a ton of money, but I'm pretty content besides having to deal with school. Is it time to kick school to the curb and just work the jobs I have?

I have experience from school and also have a few clients that I freelance design for and get paid. I just made $1,000 for a logo design.

What should I do?

I need to get my life going!

4 Answers

  • Anonymous
    10 years ago
    Favorite Answer

    I would finish your schooling and the reason why is that people only regret not finishing school. It is difficult to go back school later on. I know because I just finished my Master's Degree and I'm in my 40ties.

    I would also get pre-qualified for a multi-family home and follow that avenue. Your tenants will be paying most of the mortgage. Then you can begin saving for a small home. There is not going to be a better time for you to make a real estate investment than now. Best of Luck to You!!!!

  • Anonymous
    10 years ago

    First of all: STOP agonising about paying back the Student Loans. Beleieve it or not, THAt should be the LASt thing on your mind! At 23 a debt of $20,000 sound soooo daunting, but it is really NOTHING as you age and the years roll by and you get extensions and work out payment plans and you hardly even NOTICE paying off a debt that size.

    SECOND of all: STOP anticipating such a limited earning potential! You ahve NO idea what the future will actually bring when you are 23. It could be MUCH better, and you could wind up being some fabulous top flight person in some field, or it could be FAr worse and the country could be in a full scale Great depression. So STOP anticipating the future...the exact opposite of EVERYTHING you have been told since your seventh grade guidance counselling, right?

    You need to BELIEVE in yourself and trust your instincts...which is what education has primarily intimidated you out of by now (obviously).

    The question you need to ask yourself about continuing your education is NOT How are you going to pay back loans...but Is college something YOU believe is really preparing you for a career? Are YOU really LEARNING something that you truly believe you are getting better at;actually acquiring skils that YOU foresee your utilising? If the answer to that is Yes, then do not worry about paying back the loans. If the answer, on the other hand, is No, that, you are emrely "doing time" at school, like being babysat...then it is obviously too expensive just to be sitting on your thumbs for thousands of dollars.

    If your instinct is to buy property, then consider that as a possible career move. Some people make a living owning property. There are many things involved in that to be considered. Are you going to simply live in it, or fix it up and roll it over, or rent it out? There are responsibilities involved with that.

  • ?
    Lv 5
    10 years ago

    I won't graduate college until I'm 24 because I switched my major about halfway through. That's not old by any means. You still have your whole life ahead of you. I also will have a lot in student loans when I graduate and, for the job I want, my starting salary will be even less than $30,000. Luckily, I live with my fiance and he makes about $800/week, so we don't struggle while I attend school and work two part time jobs (I only make about $10,000 a year right now). And the reason I told you all that is this: Dropping out of school now would be incredibly stupid.

    I TOTALLY understand that you're ready to get your life going, start your career, buy a home, get married, etc. and school sort of sucks anyways. But do you really want to work two jobs making $30K a year and doing freelance work on the side for the rest of your life? Think back to why you went to school in the first place. Your starting salary might be $35K, but it WILL go up. The fact of the matter is that, in this current job market, a degree is almost a necessity in having a stable career with a good salary. There are exceptions, but not in most cases.

    Think about it this way: You have to pay that $20K in loans back whether you drop out or graduate. Do you really want to leave school and owe that much money with NOTHING to show for it? Paying student loans when you don't have a degree would absolutely suck. Plus, you're stuck in two (or three) dead end jobs and you'll probably need all of that just to scrape by and survive on your own. Throw in loan payments and you're screwed. It'll take you FOREVER to pay it off.

    Don't make a stupid idea. Bartending is a job, it's NOT a career. You've already gotten this far. Just finish your degree, get your one good, full time job, and then you can think about buying a home and all of that. So what if your friends are doing it first? So are mine. But do you really want to be a college drop out? If you do that, you'll almost definitely regret it later. And going back to school after dropping out sucks worse than just sticking with it.

  • 10 years ago

    Im 28 years old and im still trying to figure our what to do with my life... ive noticed that no matter how bad ive got it, there is always someone who has it worse.. atleast you have a job and good health...keep your head up, thats what everyone tells me... so i do it.. hopefully it works out for everyone... good luck

    Source(s): me,myself,and life
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