Student loans? Should I pay them back now or later? ?
So I just graduated from college one year ago and have, well a lot, in student debt. My parents did help me out, but I still have more than I feel like I’ll ever pay back. Now I’m working and have a fairly decent paying job abroad. I’ll probably kick around here for one more year before going to law school, financed, unfortunately totally by me.
Option one- I start paying those loans back and scrimp and save sacraficing travel and fun to the god of evil loan institutions
Option 2- Forget them (paying the min.) and live it up right now. Go travelling and make lots of memories while I’m young. 
Just add them to the mt of debt I will accumulate after law school.
Up until now, I was going with option two, but tonight I was fiddling around with them and now I am ready to cry. I know I don’t have as many as other people, but that is SOOO much money. Maybe I should just try to pay the damn things off. Honestly how can school cost so much?????
Oh wow…You are like me about 8 years ago. I just racked up a huge school debt. I chose Option 2. Made lots of memories and haven’t ever regretted it more than I do now.
I am 31 now, in the process of buying a home and I’m juggling paying for the student loans and my mortgage. If I had been smart, I would have chosen Option 1. I could be doing many more things to my house with the money I’m losing now.
Those loans are also on my credit. They don’t do nice things to a credit report if you “forget them.” Also, if you only pay the minimum, you won’t put any sort of dent in them. I’m still paying on the interest at this stage. I really screwed myself over in picking Option 2.
