200k in student loans

ldiot · Mar 23, 2018

So I'll be 27 when I graduate. Currently single. My parents would be happy if I moved in with them and would pay for food/gas.

Should I just live at home with no social life and try to work 60 hours a week? I would pretty much be able to put 100% of my after tax pay towards student loans.

I just feel like I will be miserable. I went home for summer break and couldn't stand it.

PharmDBro2017 · Mar 23, 2018

Yes do it for 2-3 years and pay it all off, you’ll thank yourself later.

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radio frequency · Mar 23, 2018

Depends on your personal goals, but I absolutely think you should do that.

Dr Wario · Mar 23, 2018

Prettymuch what I did, though I didn't have loans to pay off, just wanted to jumpstart my savings and I get along well with my parents.

awval999 · Mar 23, 2018

It will be miserable. But it's only 3 years.

Having $200,000 in student loans is also miserable.

ldiot · Mar 23, 2018

I agree with you guys and it's probably what I'll end up doing. Worst case scenario I can just stay at home for a year and at least take a nice bite out of it before leaving.

gwarm01 · Mar 23, 2018

Just follow 2/3 of the advice from the 300k loan thread.

mydogatemysuboxone27 · Mar 23, 2018

Hell yeah you should. If you don't need to leave and find your own place it'll help you take chunks off that student loan debt. Stay home as long as you can

Modest_anteater · Mar 23, 2018

It depends on what your goals are.

Do you want to be financially responsible and have a chance to pay off your loans?
then move back home and aggressively pay off loans.

Do you want to maximize your chance of meeting someone and possibly have children and a family?
I would get your own place in the city center. It gets a lot harder to meet possible romantic interests the older you get. Also time goes by VERY fast. You are 27 now but it will seem like only a few months and you were be 37 growing on 40. The sun is getting high. Time is finite and no means of measure can define how much love there is. Make decisions you can live with.

Modest_anteater · Mar 23, 2018

lord999 · Mar 23, 2018

Works for Europeans (especially Germans). If you do, set aside $5k or so that you would have spent on rent on getaways so that home is a place to sleep and that you have some independence somewhere.

a student · Mar 23, 2018

I had 214k in loans around the time i got licensed in 2016. I pay for my own rent, food and gas (in CA). I am about half way there and on track to paying it all off by end of 2019. I do cheap activities like hiking and streaming movies at home.

PharmtoCS · Mar 23, 2018

If you work crazy hours then you probably won’t see your parents that much anyway.

You might be miserable for now but you’ll be much happier when you’re debt-free.

johnpharm01 · Mar 23, 2018

I was 29 when i graduated and lived at home when I was in pharmacy school. I didn't have student loans because I had served in the military. I was also the last of four children to live at home so i got spend more time with my parents. Now I am 46 and am glad that I never had that debt because it gave me freedom of choice. My parents are gone now too and it makes that time IRREPLACEABLE. I wish I would have lived closer to them after graduation but I put my career first. Food for thought.

Nguyen · Mar 23, 2018

I have the exact same stats as you except only ~80K in loans. I plan to work multiple jobs and paying it off and probably going to pour 80% of my earnings into loans.

EDIT: already got 1 FT position, just looking for other PRN areas atm...

PharmDBro2017 · Mar 23, 2018

Agreed. I wish I could go back in time and spend more of it with family. Appreciate your parents while you have them... life is really short and changes in an instant. Live with your parents for a few years and try your best to enjoy it and grow closer to them OP (while going HAM on loans).

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PharmacistFl12 · Mar 23, 2018

I graduated with $190k in student loans. You can easily pay off in 3-4 years with Pharmacist salary. I know you're still young and not mature to understand. But appreciate every moment you have with your parents. Once they are gone, you will regret not spending enough time with them and you hate yourself for it. Always remember this, no one will love you as much as your parents. You still have a lot to learn about life.

Apotheker2015 · Mar 28, 2018

Count your blessings. It sounds like you have parents who are well aware of the amount of debt that you're in. I'd say swallow your pride. If you can't stand them, well, don't make them miserable either. They're after all helping you tackle this debt. Treat them to a nice dinner every now and then. Their obligation to you ended when you turned 18.
Truth is you won't even be home when they're home. You won't have a 9 to 5 job. Try to get evenings or work nights. 7 on 7 off and then pick up shifts while you're off.

Swishers · Apr 1, 2018

I tried it when I graduated at age 26 and didn't last more than 6 months. My parents were constantly asking me about my day at work (gets annoying after the 20th time), questioning where I was going late at night, and didn't like me inviting people over to hang out. Moving out was worth the $1000 per month pay cut.

GypsyHummus · Apr 1, 2018

Yeah, I would deff knock out those student loans ASAP. What happens if you get into an accident and cant work full time in 5 years? What happens if you get fired from your job in 5 years?

Also, find an activity that you like to do that is cheap and lowers your stress. 60hrs/week is no cakewalk, but you will be so happy that you did it.

How do you even have time for friends? Last year I was working 60 hrs/week and barley had time to eat and sleep (not pharmacy). I cant imagine how exhausted you would be as a PharmD working 60 hours/week.

Momus · Apr 1, 2018

It's funny to think these grads can just do 20 OTs/week anytime they like.

You'll be lucky to get a part time position to start LOL...

mentos · Apr 2, 2018

Do it for as long as you can stand it. I paid off about 100k in 2 years and sleep much better at night. I now work as few hours as possible to maintain full time benefits.

ldiot · Apr 10, 2018

I talk to floaters every week who are pulling 55-60 hour weeks. And they also happen to be the worst of the worst, just terrible The place is a disaster after they leave

Momus · Apr 11, 2018

Every week? I stop reading right there...

BidingMyTime · Apr 12, 2018

It really depends on how normal and sane or psycho and abusive your parents are. In some families, it would be better to be living in a van, than to live with ones parents. Some living situations are not worth any amount of money. But certainly if your parents are normal and sane, it would make sense to live with them and pay off your debt.

Dr. Galazkiewicz · Apr 12, 2018

Retail graveyards will be a thing of the past soon and even if you could get the 7 on 7 off shift, you'll simply be convalescing on the couch for the 7 days off. Working nights baseline is like swimming upstream a raging river, then add on the ridiculous workload. Believe me, you'll be too exhausted to pick up my shifts.

Doing 7 on 7 off and picking up OT was my original plan out of school. I recall my first week off going out to the courts to shoot some hoops. O brother, were my legs dead. First shot nowhere near the hoop. No snap in the arm nor rotation on the ball. Felt whoozy and nauseous. That's when the reality of working nights first hit me. Few years later I combating incipient heart failure. Graveyard shift will kill ya.

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