As I’ve mentioned in my first article I amassed around $35,000 of student debt to pay for my college education. Fortunately, I was able to start an engineering job with a $71,000 salary two months after I left the university in the same city, which has a lower-than-average cost of living. And within the first month of being employed Kubo Queen and I received a windfall of $10,000 (before taxes), which we put all to use towards my student debt. From there, I elected to pay my student loans, whenever possible, $3,000 per month.
I hope you had a great Thanksgiving, and I hope my previous article about it inspired you in being more aware of how you spend your time with family and friends. Today we return to my Kubo King’s Thoughts On College Education series with part 3 (see part 1 and part 2). This will be the second to last article in the series, meaning there will be one last part posted next. Anyway, this article focuses on main strategies for cutting the cost of college education down. So read on!
Two years ago, the year 2016, the percentage of high school graduates who headed off to college was around 70% [1]. Some of them may have had clear goals, plans, and expectations from higher education, and had thought out good strategies for tackling the financial burden it would place on them after graduation. However, I suspect that a large number of them did not have such things, and were only there because they were instructed to be there — to be successful in life. They get to universities with no real plans and no real goals, only armed with the hope that their lives will be better if they study some kind of field and receive some kind of degree. The fortunate ones, like me, end up figuring it out on their own, while the unfortunate ones do not. But, that is why this article exists. I want to help people like you who are unsure about college and do not have parental subsidies to fund a, sometimes hedonistic, college lifestyle.
In July, I owed $35,122.50 in student loans. It is now the 12th of October and my debt is down to $21,122.50; I paid a total of $14,000 in about three-ish months. This means I was putting away, roughly, $4,600 per month to date. How did I do this?
