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(Yahoo)   17 tips for quickly paying down student loan debt. Not listed is step 1: Get a $80,000/year job with bonuses and relocation right after you finish your master's degree. It's that simple people   (finance.yahoo.com) divider line 187
    More: Obvious, student housing, student loans, school of business  
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6353 clicks; posted to Main » on 31 May 2014 at 6:54 PM (50 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



187 Comments   (+0 »)
   
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2014-05-31 06:23:57 PM  
It is if you have an engineering degree
 
2014-05-31 06:57:50 PM  
I'm doing it wrong  :  (
 
2014-05-31 06:58:00 PM  
If only I'd known...
 
2014-05-31 06:58:11 PM  

EvilEgg: It is if you have an engineering degree


Even engineers can't always get jobs.

Some engineering disciplines have a very finite industry use.
 
2014-05-31 06:59:00 PM  
That whole article could be summed up as "pay down your debt instead of buying stuff"
 
2014-05-31 06:59:29 PM  
For a high school teacher, not so easy...even though they probably do more work in a week than Mr. Human Resources Manager does in an entire month.

/oh, and fark you, buddy...EABOD
 
2014-05-31 06:59:36 PM  
$80K for a human resources type at a paper mill? No wonder paper is so expensive...
 
2014-05-31 07:00:32 PM  

llortcM_yllort: That whole article could be summed up as "pay down your debt instead of buying stuff"


Or more likely "have Daddy help you get a job that pays you twice what you're worth"
 
2014-05-31 07:02:39 PM  

EvilEgg: It is if you have an engineering degree


Celebrating your graduation with Private Elementary School Steak and a glass of Feminist Journalism Theory blood isn't normal. But on Eng it is.
 
2014-05-31 07:02:50 PM  

AndreMA: llortcM_yllort: That whole article could be summed up as "pay down your debt instead of buying stuff"

Or more likely "have Daddy help you get a job that pays you twice what you're worth"


Well, that too.
 
2014-05-31 07:02:51 PM  

AndreMA: Or more likely "have Daddy help you get a job that pays you twice what you're worth"


snl.jt.org
"It's as simple as that!"
 
2014-05-31 07:03:31 PM  

Fark like a Barsoomian: Private Elementary School Teacher Steak

 
2014-05-31 07:03:42 PM  
Wait, you can MAJOR in being a useless HR tool? And you start at $80K plus? Now you tell me.
 
2014-05-31 07:03:49 PM  
Headline reminds me of the people that biatch on facebook about their neighbors on welfare.  Why don't you get a better job and move to a better neighborhood, it's easy!  Oh it's easy for everyone but you. Ah.
 
2014-05-31 07:05:57 PM  
Well step 1 was actually going into college for a degree that would enable you to do that.

But it's a solid step 2.
 
2014-05-31 07:06:18 PM  

Ambivalence: EvilEgg: It is if you have an engineering degree

Even engineers can't always get jobs.

Some engineering disciplines have a very finite industry use.


But the Fark Engineers told me that the two steps to world peace and nirvana involve getting an engineering degree and reading 'Dilbert'
 
2014-05-31 07:06:33 PM  
So he lives on $40 weekly outside of monthly bills, gas, food., etc., meaning $5.71 a day in walking-around money ? OK then.
 
2014-05-31 07:06:35 PM  
Wait, wut?

<I> "Right out of grad school, I got a job as a human resources manager at a paper mill with a starting salary of about $80,000, plus a sign on bonus and relocation.

8. Live well below your means. "When I got out of grad school, I basically doubled my salary. I'd never had that kind of income before, but I put the extra towards my loans," he says. "Debt is stress, and when you don't have it, it's one less thing you have to worry about." </I>

He made $40K in grad school? Da fuq?
 
2014-05-31 07:07:17 PM  
Get your NP or PA.

There. I just saved you from a lifetime of debt, Mr. Ancient Greek Philosophical Interpretative Dance Masters Degree holder.
 
2014-05-31 07:08:06 PM  
step 1: Get a $80,000/year job with bonuses and relocation to a country without extradition right after you finish your master's degree.
 
2014-05-31 07:08:38 PM  

zerkalo: Wait, wut?

<I> "Right out of grad school, I got a job as a human resources manager at a paper mill with a starting salary of about $80,000, plus a sign on bonus and relocation.

8. Live well below your means. "When I got out of grad school, I basically doubled my salary. I'd never had that kind of income before, but I put the extra towards my loans," he says. "Debt is stress, and when you don't have it, it's one less thing you have to worry about." </I>

He made $40K in grad school? Da fuq?


Well when Mommy and Daddy pay tuition for him then he can just pocket that grant and scholarship money!
 
2014-05-31 07:10:32 PM  
80k?  Meh - that's kind of a joke...just pay it off.  But what happens when you really can't?  Like, let's say you wanted to be a vet and you can't get into your in-state school (possibly because they cut the number of in-state seats while increasing the number of out-of-state seats).   $300k in debt and a 45k median starting salary.

At that point, you literally can't afford to make the payments and live.  Worse, you won't qualify for any benefits like food stamps because of your income.

You can elect to do the income-based repayment; and then sure, you pay $300-$500 per month or whatever and life isn't horrible.  Until you reach the end of the 20 or 25 year window and they forgive what is now 800k in student loans and they TAX YOU on that 800k gift.  Now instead of owing Sallie Mae 300k, you've paid for 20 years and you owe the IRS 250k.

Not a lot of options for these people.
 
2014-05-31 07:11:37 PM  
Yeah, I know, not everybody gets an 80k job right out of college. But it is good advice to live below your means and make extra payments that are as large as possible. Live like a student for a few more years and you'll save thousands. There are too many people who don't realize how much they pay in interest and how much they can save by making more than the minimum payment. A lot of people think of money only in terms of monthly expenses and just pay the minimum amount.
 
2014-05-31 07:11:38 PM  
How to be come a millionaire:

First:  Get a million dollars.
 
2014-05-31 07:12:38 PM  

llortcM_yllort: That whole article could be summed up as "pay down your debt instead of buying stuff"


Yeah, nobody needs food.  Lousy deadbeats, wanting to eat.  OK sure they can cut down on that but then they'll just die and now who's going to pay the debt?
 
2014-05-31 07:13:55 PM  

dryknife: How to be come a millionaire:

First:  Get a million dollars.


Be born on third and claim you hit a home run
 
2014-05-31 07:13:57 PM  
I thought #1 is to pray the Democrats have enough votes to push through a $15/hr minimum wage.
 
2014-05-31 07:14:36 PM  
What's the point of going to college if you end up in so much debt you have to live like a minimum wage cashier monkey anyways.
 
2014-05-31 07:14:57 PM  

Fark_Guy_Rob: 80k?  Meh - that's kind of a joke...just pay it off.  But what happens when you really can't?  Like, let's say you wanted to be a vet and you can't get into your in-state school (possibly because they cut the number of in-state seats while increasing the number of out-of-state seats).   $300k in debt and a 45k median starting salary.

At that point, you literally can't afford to make the payments and live.  Worse, you won't qualify for any benefits like food stamps because of your income.

You can elect to do the income-based repayment; and then sure, you pay $300-$500 per month or whatever and life isn't horrible.  Until you reach the end of the 20 or 25 year window and they forgive what is now 800k in student loans and they TAX YOU on that 800k gift.  Now instead of owing Sallie Mae 300k, you've paid for 20 years and you owe the IRS 250k.

Not a lot of options for these people.




Moving out of the US is the best option.
 
2014-05-31 07:15:22 PM  

zerkalo: Wait, you can MAJOR in being a useless HR tool? And you start at $80K plus? Now you tell me.


Note: requires being the nephew of the CEO.
 
2014-05-31 07:17:57 PM  

dryknife: How to be come a millionaire:

First:  Get a million dollars.


You gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the woman...
 
m00
2014-05-31 07:18:55 PM  
80k? That's such a low salary. You should be ashamed if you can't get a job for 80k/yr -- you're either lazy or stupid. Consider the following average incomes:
 
2014-05-31 07:19:47 PM  

fusillade762: Then when you get the power, then you get the woman...


a.abcnews.com

Girls don't want good guys. They want assholes. So now I got a gun. We'll see who's the alpha now, biatches.
 
2014-05-31 07:20:09 PM  
If I owned a company, I damn well wouldn't pay an immediate HR grad 80k right off the bat.  You're in HR and straight out of college?  40k.  Don't like it?  Too bad.  Gain experience and show me you're worth it.
 
m00
2014-05-31 07:21:08 PM  

m00: 80k? That's such a low salary. You should be ashamed if you can't get a job for 80k/yr -- you're either lazy or stupid. Consider the following average incomes:


www.slate.com
 
2014-05-31 07:22:04 PM  
18) Don't accrue student loan debt in the first place?
 
2014-05-31 07:22:56 PM  

m00: m00: 80k? That's such a low salary. You should be ashamed if you can't get a job for 80k/yr -- you're either lazy or stupid. Consider the following average incomes:

[www.slate.com image 850x560]


Have you noticed that the person who drew that is an art thief? Those are boondocks characters.
 
2014-05-31 07:24:02 PM  

EvilEgg: It is if you have an engineering degree



Perhaps that was true for your generation, but it's not the case for many recent engineering (and physics and math) grads.
 
2014-05-31 07:24:36 PM  

hardinparamedic: m00: m00: 80k? That's such a low salary. You should be ashamed if you can't get a job for 80k/yr -- you're either lazy or stupid. Consider the following average incomes:

[www.slate.com image 850x560]

Have you noticed that the person who drew that is an art thief? Those are boondocks characters.


Top left looks like the Great Depression picture chick
 
2014-05-31 07:26:05 PM  

bhcompy: hardinparamedic: m00: m00: 80k? That's such a low salary. You should be ashamed if you can't get a job for 80k/yr -- you're either lazy or stupid. Consider the following average incomes:

[www.slate.com image 850x560]

Have you noticed that the person who drew that is an art thief? Those are boondocks characters.

Top left looks like the Great Depression picture chick


Wouldn't you be depressed if you were in her shoes?
 
2014-05-31 07:26:42 PM  
zerkalo:

He made $40K in grad school? Da fuq?

I got $32,000/year from my fellowship, and other monies were available if I TA'ed during the summer, picked up some extra grading, or tutored.
 
2014-05-31 07:27:47 PM  

m00: m00: 80k? That's such a low salary. You should be ashamed if you can't get a job for 80k/yr -- you're either lazy or stupid. Consider the following average incomes:
[www.slate.com image 850x560]


Dammit. I already had the picture all ready, and I was going to finish your post.
 
2014-05-31 07:28:29 PM  

zerkalo: Wait, you can MAJOR in being a useless HR tool? And you start at $80K plus? Now you tell me.


My ex did that, think more like 30-35K
 
2014-05-31 07:29:08 PM  

bhcompy: Top left looks like the Great Depression picture chick


Top left is Sarah Dubois, Tom's wife.

img2.wikia.nocookie.net

The right looks strangely like Grandpa.
 
2014-05-31 07:29:13 PM  

llortcM_yllort: That whole article could be summed up as "pay down your debt instead of buying stuff"


Shhhh!  This is how college graduates earn the big bucks. Taking something simple and turning it into a 1000 word article.
 
2014-05-31 07:31:25 PM  
If you're a Canadian with some education you can always move north to one of the three territories and within a few years you'll be making at least $80k. I did.
 
2014-05-31 07:33:30 PM  
Why not just borrow $80k from your parents and pay them off interest free? You'll save a ton of money.
 
m00
2014-05-31 07:34:11 PM  

cryinoutloud: m00: m00: 80k? That's such a low salary. You should be ashamed if you can't get a job for 80k/yr -- you're either lazy or stupid. Consider the following average incomes:
[www.slate.com image 850x560]

Dammit. I already had the picture all ready, and I was going to finish your post.


Fark didn't like my first link of it :/

But we live in a world where rich people think "poor single mothers" have incomes of 260k/yr. They actually think that's the minimum wage. No wonder they don't want to raise.
 
2014-05-31 07:36:52 PM  

Fark_Guy_Rob: 80k?  Meh - that's kind of a joke...just pay it off.  But what happens when you really can't?  Like, let's say you wanted to be a vet and you can't get into your in-state school (possibly because they cut the number of in-state seats while increasing the number of out-of-state seats).   $300k in debt and a 45k median starting salary.

At that point, you literally can't afford to make the payments and live.  Worse, you won't qualify for any benefits like food stamps because of your income.

You can elect to do the income-based repayment; and then sure, you pay $300-$500 per month or whatever and life isn't horrible.  Until you reach the end of the 20 or 25 year window and they forgive what is now 800k in student loans and they TAX YOU on that 800k gift.  Now instead of owing Sallie Mae 300k, you've paid for 20 years and you owe the IRS 250k.

Not a lot of options for these people.


that is one hugely depressing scenario
 
2014-05-31 07:37:41 PM  
Graduate with a masters in engineering specializing in something like rocket engine design or hypersonic aerodynamics now qualifies you for an entry-level position at places like Boeing or SpaceX.

The best and smartest kids in the classes are now the only ones getting picked for any kind of employment after college whatsoever.

We just don't need that many people working anymore.
 
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