In the ChooseFI podcast, the two hosts usually ask their guests what they would tell their younger self. There’s a lot of things I would tell my younger self, but one of them would definitely be to not get student loans. I could have made it work, but I was already living beyond my means as a student. I was already married, and I didn’t understand the concept of living beyond my means.
Each time that I got a better paying internship, I would spend more. And I made some really good money as an intern.
I would have looked more into scholarships and grants, and applied for them diligently.
I truly believe that having student loan debt put me behind in life because so much of my pay was going towards that. I am pleased to say that I am down to $16k in student loans. It is still a lot of money, but being on this FI journey, I feel like for the first time in my life, I am facing the music and owning up to what I’m doing, and trying to take efforts to pay things off faster than this way of living where I was just paying the minimum.
I’m prioritizing my credit card debt ahead of my student loan debt for now, but it is constantly on my mind of what I can do to lower it. I’ve considered refinancing it, but it is already at pretty low rates so I may wait a couple more weeks before trying SoFi. I keep getting their pamphlets in the mail, and have been on their sites a couple of times but never finishing the process. The rates they bring up never seems to be that much better either.