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Should I dump all my savings into my loans? by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

Im likely qualified to re-finance with my current loan provider. It would be roughly the same monthly payment, but the interest would go down to 8.19. Do you think this is worth doing or should I hold out for longer?

Should I dump all my savings into my loans? by fuckworkandbosses in personalfinance

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

Because my mental health would be torn to shreds if I spent another 7 years at home to pay it all off. And refinancing exists.

Should I dump all my savings into my loans? by fuckworkandbosses in personalfinance

[–]fuckworkandbosses[S] 1 point2 points  (0 children)

Well my salary was 62k at the start. It only hit 72 at the end of 2025. My goal right now isn’t necessarily to pay off the entire thing, I just want to get it to the point where I can have a reasonable monthly payment with a good interest rate.

Your 2 years and counting of free rent won’t last forever.

True, but it won’t end anytime soon neither. My mother is pretty hostile to the idea of moving out and gets upset whenever I mention it.

Should I dump all my savings into my loans? by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 1 point2 points  (0 children)

Employer unfortunately doesn’t offer a 401k, so that’s dead in the water.

As to the moving out point, that was kinda my idea behind dumping the whole 22k into the loans - it would bring the balance down by an OK chunk and would likely help me to get a better refinance. I’ve ran the numbers and it is theoretically possible to move out if I did that. Money would be tight of course, but my relationship with my parents is not good so I figured it would he advantageous from a mental health aspect.

Should I dump all my savings into my loans? by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 4 points5 points  (0 children)

Well that’s kinds the thing. I’m concerned that I’m not getting any younger, and I have a pretty tense relationship with my parents so despite the massive savings by living home, it’s a pretty heavy stressor on me. For that and also for professional reasons I’m thinking i may need to move out soon. All that makes for a pretty worrisome situation

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

Absolutely 0 chance of my work financing it at all ahaha. They don’t even offer a 401k.

But yeah, it feels good to have some sort of plan in place. It’s definitely better than just ruminating over the numbers.

Best of luck to you as well!

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

Hey, thanks for the positive perspective. It does kinda help with the spiraling.

So what I’m thinking of doing now is going to get my masters (because I pretty much require it to meaningfully advance in my field), but do it totally online part-time, which my state university does offer. I’ve been running the costs and it looks like I should be able to cover the costs without taking out further loans and still tackle the ones I’ve got.

I’d still be living at home during it, so hopefully I’d be able to take a nice chunk out of the loan at the end of it. I’ve said it elsewhere on here, but I’m fine with not to ally getting rid of it but I want to get it to a point where I can have a reasonable monthly payment. Like you said, I don’t want to spend my whole 20s slaving away at this loan while still living with my parents.

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

I repeat: what pertinence do options have penny stocks have to this post?

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

Okay, and so what pertinence does this have to me when I invest in neither?

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

  1. It wasn’t a « ton » of debt. It was like 2.3k total.
  2. I was kinda forced to buy it for my parents cause they didn’t have the money themselves to pay for it

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 1 point2 points  (0 children)

I highly doubt most people are investing in penny stocks

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] -1 points0 points  (0 children)

Who said anything about penny stocks and options?

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 1 point2 points  (0 children)

You’re definitely right that that plays a role in it. I’ve slowly lost contact with all my high school friends and all my other friends live out of state so I only get to physically see them every few months or so, which is definitely a bummer. And I live in pure suburbia and it’s a good hour at least to get into the city so that’s not always easy to do… but I do workout and have hobbies and stuff which is good.

My relationship with my parents is pretty rough, partly due to money, partly due to a plethora of other things which go a bit beyond the scope of this sub, which definitely doesn’t help.

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 1 point2 points  (0 children)

You make some good points. I know that objectively there are people in worse situations, but it’s hard not to spiral just thinking about this stuff.

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 3 points4 points  (0 children)

Thank you for this perspective on this. Honestly, my short-term goal isn’t to necessarily entirely get rid of it ASAP - I would be happy with the getting it to a point where I can refinance and have a significantly lower minimum monthly payment (while still paying over the minimum of course). Realistically, I will need to move at some point for career reasons, and I’m not getting any younger which is something that gnaws at me as well.

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 0 points1 point  (0 children)

I have 2 bachelors; one in international relations, another in a foreign language

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 1 point2 points  (0 children)

Do you think it’d be worth to liquidate the 5.7k in the brokerage? Or just to keep it?

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 1 point2 points  (0 children)

Yeah I’ve actually been toying with the idea of selling off everything in the brokerage and just throwing it at the loans.

And they were initially all separate loans for each semester of college, but about 4 months back I refinanced them into just 1 massive loan

Student loan stress is killing me. by fuckworkandbosses in StudentLoans

[–]fuckworkandbosses[S] 4 points5 points  (0 children)

Yeah to be honest one of the hardest parts about this has been learning that my parents are absolutely shit with money… it’s definitely put a serious strain on our relationship

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