Getting real nervous about my student loan balance : personalfinance


So here’s the situation:

I graduate my undergrad next year. I made a bit of a blunder and chose attending a name brand school in a big city, even though I was going to have to support myself.

Normal cost of attendance is about $70k a year-despite financial aid and working all 4 years I’ll still graduate with about $100k in debt, $70k private and $30k federal. I’m a finance major-pre-corona graduates at my school were making around $65K a year so I’m hoping go be at the same assuming things get back to normal next spring.

I’ve also managed to save around $20K-hopefully to go towards buying a small apartment building when I graduate. This will allow me to not have to pay rent, which I can use towards paying down my student loans considerably.

I have a couple questions:
1. How likely is it that I can refinance when I graduate, assuming I make $60k on graduation? My interest rate on my private loans is HUGE-up to 9.5% in some cases-because both of my parents have poor credit
2. Should I use the $20k to pay down some of my debt? I feel pretty confident I can get a higher return if I buy a place next year that allows me to eliminate a $1200+ rent payment, but just my total balance is freaking me out?
3. Am I screwed?

Edit:
Just to clarify, my plan is to buy a small apartment building, 3 or 4 units, with the $20k as a downpayment. I’ve run the numbers, and renting out the other apartments would allow me to live without a housing payment, including taxes and insurance.



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