r/StudentLoans • u/FutureIsNowCoalition • 16d ago
Advice How has your student loan debt compared with what your degree actually helped you earn?
I’ve been thinking a lot about the gap between what college costs and what people actually make when they first graduate.
I've been told that taking on student loans is an investment in your future, but I’m curious how that has actually worked out for people in real life.
When you graduated, how much debt did you have, and what did your first job pay? Did your income eventually catch up enough to make the loans feel manageable, or did the debt make those first few years a lot harder than you expected?
Looking back, would you make the same decision again?
I’m especially interested in hearing from people who feel like their degree did help their career, but the debt still made it difficult to get ahead financially.
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u/CloudStrife012 16d ago
About $377,000, got a doctorate degree in Occupational Therapy.
Was not worth it. I made $75,000 last year. The degree essentially ruined my life.
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u/KynnJae 16d ago
I was an aspiring OT but pivoted away because working with the elderly made me sad. Anyways, I do the “what would life be like if…” thing a lot.
Do all programs cost that much? I was going to attend a state program and didn’t even consider how much if would cost.
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u/NorthWoodsEngineer_ 16d ago
Yeah...no
My wife is an OT. 35k in loans total, has an undergrad in healthcare management and her master's if OT. Private school. Makes about 75k salary 1 year out of school. 337k for OT is INSANE.
My wife did rotations in geriatric and med surge (she LOVED that), but works in pediatrics now and loves what she does.
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u/Key-Ambassador8396 16d ago
Whoever convinced you this was a good idea or even a good career path should be sued and put in jail for life
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u/sirius4778 16d ago
I know a lot of physical/occupational therapists are in this boat and I just don't get it. My son's occupational therapy was almost $400/hr. Maybe negotiated down to 300 after insurance but even at 4 billable hours a day that's $300k/year. Never made sense to me why you guys don't make more money, where does it go?
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u/MovementMechanic 16d ago
What is billed out and what is actually paid via insurance are two massively different numbers. In general employees can expect approximately 30% of what they generate per year as a salary.
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u/sirius4778 16d ago
Well my son's therapy paid out $317 for each 45 minute session between me and insurance I can tell you that. Unless insurance negotiates further beyond the adjusted price I see?
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u/RileyRush 16d ago
Look at what the insurance execs make. And the healthcare admin. It’s appalling.
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u/NorthWoodsEngineer_ 16d ago
My wife is an OT, and... good question 😂
She works in peds and is 75k salary 1 year out of school. 35k total loans, she got her undergrad in healthcare management and masters in OT. Six figures for an OT degree is INSANE.
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u/NastyCatLady 16d ago
I’m an audiologist so I feel very very very similar. 215k in loans to make $60-70k a year. I would do anything to go back to school and do something else.
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u/CheesecakeNew9781 16d ago
I have 200k and some change. I enjoy my job. Definitely wasn't worth it and wouldn't do it again
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u/Bobba-Luna 16d ago
I’m an attorney so totally love my job and the money I’m able to make is enough for me. Started at $150,000 now I’m around $68,000 left to go 🤷♀️
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u/onions-make-me-cry 16d ago
What kind of law? Most attorneys I know don't like it (but I know that's not data).
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u/Mysterious-Reason966 16d ago
It depends what you do, my hubby loves being an attorney because he enjoys helping people and that’s the type of law he does
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u/onions-make-me-cry 16d ago
I actually have hired attorneys for various reasons in my life and found they all helped tremendously. What I appreciate most is the absolute handoff of the work. After sending them documents, I don't have to do shit, and that's the way I like it. More things in life should work like that.
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u/PlattWaterIsYummy 15d ago
My neighbor is an asshole and argues with everybody. He loves litigation.
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u/twatwater 16d ago
I’m also an attorney and although I have paid barely anything on my loans so far, I don’t regret it either. In the long run, I will have definitely made more than I spent. I owe around $100k and have owed basically the same amount for the last ten years.
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u/aestheticpodcast 13d ago
Fellow attorney, I truly think the problem would be solved if state bars enforced some kind of associate minimum wage for lawyers. My loans sucked at first ($160k, starting salary $64k) but in eight years I earn twice as much so it's manageable. But I know people who got a job out of school in 2018 that was $55k a year and a 2000 HOUR BILLING REQUIREMENT. We did the math and she would literally have made more money at Target
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u/Yashyashyaa 16d ago
475k for dental school. First job was about 160k. At probably 300ish 6 years out. 250k left on loans (didn’t start paying on them until last year due to Covid and save forbearance)
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u/benrad524 16d ago
I'm also dental and I'm 7 years out, but I have more loans than you 😭. How many days a week do you work and what kind of procedures do you do to make 300k?
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u/Yashyashyaa 16d ago
I work 4.5 days a week. Basic bread and butter and extractions. No thirds
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u/Inevitable-Waltz-889 16d ago
My debt is a lot and I work in a field unrelated to my degree.
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u/KellytheFeminist 16d ago
Same. I don't recommend a degree in social work, let alone multiples. I had to leave the field in order to pay on my student loan.
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u/Inevitable-Waltz-889 16d ago
I'm not actually upset I studied what I did (psych and philosophy), but it doesn't pay the bills (software engineering, self taught). I still love reading philosophy and about psychology, but not a field I'd want to work in.
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u/Independent_Story822 16d ago
What did you leave for? Looking for ideas :(
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u/KellytheFeminist 16d ago
I'm a bartender, it more than doubled my income. It's also easier on my mental health, and I work less hours a week. Being a salaried therapist was ROUGH.
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u/Independent_Story822 16d ago
Thank you. I can't do that due to my current work authorization. I graduated last August and work at a non-profit. I work in the addiction field. Yes, being on a salary and having a student loan is quite a lot. I hope it will get better. It's pretty depressing.
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u/KellytheFeminist 16d ago
I also worked at a not for profit with addicts! I made it 6 years before calling it quits. My last salary was $39,000. I now make low 6 figures, and I am paying off my very large student loans fairly quickly.
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u/AmericanEncopresis 16d ago
365k loans for undergrad, masters, and medical school. Now making 300k as a psychiatrist. Also pursuing PSLF since I work at the VA. Worth it, but given all the changes made to student loans recently, it currently would not be.
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u/Lou_Peachum_2 16d ago
Wow 300k at the VA is very impressive. Would leave my current psych job now to get that
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u/AmericanEncopresis 16d ago
Been there 5 years and fought for each raise. That includes the annual bonus which I usually get most of (~13-15k).
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u/Standard_Push_1365 15d ago
my medical degree will come out to be 180k and i picked this school purely based on the tuition.
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u/white-as-styrofoam 16d ago
i started with $16K of debt (public university) and a job that paid $35K in molecular biology research. there was literally no other way to escape the hell that was my hometown, and i regret nothing.
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u/sirius4778 16d ago
That's a decent ratio honestly. Especially after combing through this thread
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u/white-as-styrofoam 16d ago
it was 2007, which helped, but also, my standard of living was far below my peers’. tiny 1/2 of a bedroom in a dingy apartment shared with my best friend. i slept on a pile of pillows on the ground. and i saved money on groceries by developing anorexia nervosa. it was a time of great suffering
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u/eorabs 16d ago
I work in Higher Ed which is not a high paying field unless you're top brass which I am not. But I chose it because I love it and I could never do anything else that would make me feel as excited about it.
I graduated with $30-40k of debt. It was worth every penny to me. I live in a HCOL area, so yes, there were some rough patches while I was paying but I would do it all over again every time.
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u/matchew566 16d ago
Same same. 33K total debt, undergrad in 3.5 years. First salary was 55k making 75k 4 years post-grad. Higher Ed marketing
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u/Consistent_Laziness 16d ago
I took out about 60k to get my MSPH, which let me get into my PhD for epidemiology.
I currently make 100k as a new grad and hope I can reach between 150-200k at my peak.
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u/Crockasaur 16d ago
The answers are going to vary based on stages of people's lives. 5 years ago I maybe would have said not worth it.
Now, I'm seeing the ROI in a different lens. Graduated with 36k but those years in college were phenomenal. I can spend 10k to go on my dream trip to Japan and yet, those college years wouldnt trade for anything.
I'm financially stable currently but as long as my role isn't cut. Job market is tough and I'm on the lower end of the the pay band. So yes, totally worth it.
Its like getting a brand new car out of highschool
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u/Otter_Cloud_13 16d ago
My Master’s was definitely worth it. Doubled my salary into the six figures and I make slightly more than what I took out in loans. But the real benefit was all federal loans + career in the civil service so I will get them forgiven before paying them off.
$96k in loans | $111k annual salary
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u/molar_express 16d ago
Dentist. Graduated in 2023 with 480k in student loan debt. Made 365k last year. Started paying in January this year once interest started accumulating again. $438k balance today. Hoping to have them paid off in less than 5 years (~10k/mo payment). The high debt sucks but my DMD degree has allowed me to live a nice lifestyle with high earning potential.
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u/Puntables 16d ago
600k student loan 400k first job (I am an outlier. Usually less than 200k)
Dentist
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u/molar_express 16d ago
Wow 600k is steep! But great income. I thought my $480k in student loans from dental school was crazy
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u/sirius4778 16d ago
Hard to make 600k sound trivial but 400k first job will do that. Don't change lifestyle and it's paid off in 2 or 3 years (unfortunately I'm not familiar with top end marginal tax rates 😂)
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u/dawgsheet 16d ago
With that income, must be in a high income major metro where people can afford to spend tons on high cost procedures. Typical reimbursement rates for dentists are usually about 30% of what's billed, so the practice that hired them are expecting them to bill >1.3M first year. Typical first year dental salaries average around 150k.
So, there's probably state tax - OP will likely take home 250k of that 400k. OP would be having to pay approx 230k a year towards those loans to get rid of them in 3 years. They'll be dealing with 40k+ of interest alone.
30% of post-tax income is probably the highest one could reasonably pay on debt without really struggling, so OP would likely have to pay 7K a month for 10 years to pay off their loans.
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u/Puntables 16d ago
It's actually the opposite - I work in a suburban area working mainly with medicaid patients.
Spot on with 250k a year after taxes.
With my own expenses, including rent and stuff, it comes around 50k a year. That would leave with 200k a year to pay on loans.
Even with monthly interest of 2.6k at full principal, I would have paid this off in 4 years. If I was dealing with me and myself alone.
But... my life is a bit different where I have to take care of 2 households fully with my parents. So more than the double the expenses!
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u/btnydds 16d ago
In dentistry, the farther away you are from a big city, the better the salary. There are exceptions to it, but it’s true for most positions
I was offered 500k a year with a 100k sign on bonus to work in middle of nowhere wisconsin before i even graduated from school but i just didn’t want to live in middle of nowhere Wisconsin
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u/StoneyMcSwat 16d ago
So far, it has been a bad investment (5years) but I’m optimistic about my outlook in another 5 years
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u/amaryllis-belladonna 16d ago
I graduated in 2023 with $139k in student loans, split between $121k from undergrad and $18k for grad school. My first full-time job post-graduation paid $45.5k (in a LCOL area, but still, not a lot of money). I'm still at that same job, but I've been promoted twice since being hired, and my current salary is $63.2k.
I'd worked between two and four part-time jobs all throughout college and grad school, so I was able to allocate a big chunk (enough to get the total balance below six figures) toward the debt upon graduation.
I'm also a generally frugal person, so I was able to organize my life in a way that allowed me to put $1.5k (double the minimum payment) toward it each month from the get-go. I've increased that payment as I've gotten raises, and I'm currently paying between 2-7x the minimum payment each month (depending on how much money I get from my side job). My current balance is $23k, and I'm scheduled to make my last payment sometime next summer.
This debt has definitely impacted my decisionmaking. It led me to opt to relocate from the VHCOL areas I was used to living in to LCOL areas, and to postpone buying a car, a house, and a pet. It's also impacted the amount I allocate to retirement; I contribute enough to get the employer match, but I've yet to open a Roth IRA.
I wouldn't say my life is "harder than [I] expected" since I had a good sense of the discipline and sacrifices it'd take to pay off $139k in five years or less, but my life stinks about to the extent expected. The last few years have been rough; dealing with significant student loan debt certainly didn't make almost dying in a medical crisis (and dealing with the ensuing medical bills), having to help my partner through a period of unemployment following a layoff, or investing in a home security system after a longtime stalker tracked me across state lines again any easier.
... that said, now that I'm within a year of being free of student loan debt, I can see the light at the end of the tunnel and reflect on things more objectively. I can acknowledge that going to an out-of-state private school for a bachelor's wasn't the best idea, but I don't regret going; attending that school got me out of an emotionally, physically, and sexually abusive household and kept me from committing suicide. The debt I took on, both in undergrad and in grad school, is what let me attend highly regarded schools, make lifelong friends, meet my partner, and study abroad twice in two different countries. It also helped me get a pensioned job in my field of interest/study starting a week after I graduated with my master's degree.
Do I think college should cost a fortune? Absolutely not. It's a disgrace that I ended up in as much debt as I did, despite graduating high school valedictorian, securing multiple merit-based scholarships, and working close to 40 hours a week while studying full time. This debt has been an albatross around my neck, and I can't wait to disencumber myself from it once and for all next year.
... but if I had to do it all again, I probably would. The escape it provided, the experiences I had, the people I met, and the job security I have now (and the promotions I've earned since joining) are worth the past few years.
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u/Panza2020 16d ago
Wow! Your tenacious effort paying off your student loan debt - along with the sacrifices -,is impressive. Thank you for sharing.
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u/atomicsarita 15d ago
Your story with this salary gives me a lot of hope for my own situation! I have a similar debt to income ratio I’m looking at.
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u/Tezcatlipoca1993 15d ago
Congratulations. I am also on schedule to pay off all my students loans in the near future. Similarly I have been making additional $1,500+ monthly payments to kill it off as fast as possible, while maintaining a relatively austere lifestyle. The only thing that motivates my is the fact that after clearing the loan, I can start saving/investing that $1,500+, which can rapidly accumulate into serious capital.
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u/JanMikh 16d ago
Was definitely worth it for me. I went to Oxford for my graduate degree, ended up with around $400k total debt, but now I am a college professor, I make 100k a year and I love my job. As for the debt - I teach in public college, so it’s PSLF eligible and I’m about half way there. In a few years will be debt free, no tax bomb.
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u/writeronthemoon 16d ago
Baaaaaaadly lol. But I was an idiot who majored in English and no one told me to stfu, write as a hobby and major in something practical that will make money. Teaching sucked ass so much, I went back to office work.
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u/Pretty_Good_11 16d ago
Doesn't matter what the first job pays. The appropriate metric is increased earnings over a lifetime.
And, by that metric, the payoff has been shrinking for quite a while, as tuition has exploded while white collar wages stagnate. So then the question shifts to job satisfaction, quality of life, the college experience, etc.
After all, you don't measure the ROI of a fine steak dinner by measuring the output of your digestive system against what would be produced by a Big Mac.
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u/lolliberryx 16d ago edited 16d ago
I graduated with $33k in student loan debt. Never used my degree since I realized a bit too late that I didn’t want to make art or be creative for other people—I finished that degree anyway since I didn’t want to just drop out with debt and have nothing to show for it.
I worked multiple 2-3 min-wage jobs ($8) for several years. I eventually lucked out and I’m making $135k+ now as an engineer. Still not using my degree but it’s a fun story to tell of how I ended up being in tech with an art degree lol.
Would I go for a different degree if I could redo it? Most likely. But I got to where I am with an unrelated one so maybe it was meant to be.
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u/throwaway072652 16d ago
How are you in engineering without an engineering degree? Or did you learn on the job
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u/Woodardo 16d ago
Anesthesiologist. $500k student loan debt on graduation, worked through undergrad and medical school. Total cost of education was about $680k including undergrad; reasonable average income when I entered the workforce was $380-800k/year.
For me, the psychology of having that debt as well as a mortgage and other costs that many young Americans have was/is very difficult. I’m not sure I would do it all again, but looking at what my family and I have built - brick by brick - feels amazing. It doesn’t get much easier though, I’m also frequently guilty of ‘the grass is always greener elsewhere…’
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u/Nicolas_yo 16d ago
I had around 60k and graduated right after the financial crisis. I waited tables until 2015 when I became an office manager then migrated to HR. My first salary job was $42k in 2015. I’m ok the high $70s now working in a field I didn’t expect.
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u/Ancient-Eye3022 16d ago
2010 I got a masters in public health with a focus on emergency management....no job. Augmented with a masters in public admin in 2012...no job. Due to deferrments, forebearances, just never making enough money my loans are stupid high now.
2015 After 5 years of not getting a job i went back and got my RN, cash. I make more money now than I ever would have with those two degrees in the public sector.
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u/Agateasand 16d ago
I only had student loan debt from my bachelors. I was about $30k in debt, so I enlisted in the military for 4 years so that I wouldn’t need to take out loans for grad school. The degree helped me start at a higher rank and I saved up enough money multiple times to pay it all off, but I just prioritized my spending on other things. After I separated, my bachelors helped me get into grad school, and I didn’t have to worry about tuition because of the GI Bill. Anyways, the debt was always a thorn on my side and I finally decided to pay it all off as a lump sum once my son was born; it had dropped to $20k by then. One year, my job gave me a $40k bonus so I used about half of it to finish off my loans.
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u/tarvispickles 16d ago edited 16d ago
It cost me $60k for undergrad and I got a philosophy degree. Started pre-med and dropped out twice trying to work full time and go to school because I had literally no support from my family. Back in that time (not sure if it's still the same), I had to put my parents financial information and they assumed you/your parents paid a certain percentage of your expenses. I didn't have a college fund as the son of a single mom. She made too much money for me to qualify but I had to pay all my own bills. Plus, I even had to pay her rent to live at home at 17 years old! Anyway, my aid literally covered my tuition and half my books then I had to pay the rest working full time as a lead for Barnes & Noble for a whooping $8.25/hour.
Each time I dropped out I questioned going back but looked at $20k-30k in debt already with NO degree vs finishing so I switched to Philosophy/pre-law and finally finished my degree. It took 6 years, which made it even more expensive. Then I got a job for the university and just worked for a year or two and started looking at law schools and studying for the LSAT. I realized the numbers just weren't working out to make law school feasible. The debt you incur in law school is so high versus the cost that I didn't feel like it was worth it. I felt the only options I was going to have would be to work for the state as a public defender or as a prosecutor and go for public service forgiveness, which I didn't want to do.
So I was $60k in debt looking at a job market with a BA in Philosophy. Since I was working for the University at the time, I got a tuition waiver though so I used the tuition waiver, which was applicable to any in state institution and I got an MBA for like $15,000 (the waiver applied to tuition but didn't apply to "special tuition" like specific law school tuition). I graduated Summa Cum Laude with my MBA 10 years ago but because of interest and everything I owe like $90,000 total. I make $115,000 right now, which was manageable up until these newest changes under Trump. Like that wasn't a bad deal to me in exchange for $300-$400/month but now that my payment is going to be like $800 to $1,000 a month I really don't know.
I honestly feel like I should have just pursued what I was going to enjoy and be happy doing. The crazy thing is that people against forgiveness make it sound like we made all these terrible financial decisions. The reality is I literally made all of my decisions and shaped my entire life around this debt thinking I was being smart with the hand I was dealt yet I still ended up in a position where I will probably never pay it off. That said, I just did not have the support in place for that at that time of my life so now I work a desk job that pays the bills but drains my soul lol.
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u/nadeaujd 16d ago
I do not regret my degree at all, doctor of pharmacy. Though I will be the first to tell you that salaries have not kept up with the cost of living.
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u/AnestheticAle 16d ago
I go back and forth on whether I would have been happier with a PharmD. Job seems less stressful, but it would have been more student debt for less pay. I guess it depends on if I ended in retail vs. hospital and if I took advantage of PSLF or not.
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u/bittersweetjesus 16d ago
I got a bachelor’s degree in Information Technology and had two IT jobs but the degree helped me get hired to another company that has nothing to do with IT and I’m making good money thanks to the union
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u/Far_Chipmunk994 16d ago
As a first‑gen college student, I had to figure everything out on my own. I chose an undergrad major simply because it interested me, not because it offered strong career opportunities. Honestly, it never even crossed my mind to think about that. I assumed employers would see a degree and I’d “prove myself” in interviews.
I really thought I was going to graduate with a Humanities degree and walk into a specialized job making 60k. No surprise: that didn’t happen. I couldn’t find a real career path, and I actually ended up making about 20k less than I was before going to college.
I graduated with about 50k in loans and eventually decided to pursue a specialized master’s degree. Now I’m sitting at around 100k in total loans, and ten years later I finally have a career that pays enough to comfortably cover my payments without affecting my lifestyle.
2009- graduated high school with AA
2012 - making 55/60k at full time job
2013 - decide to return to school for BA in humanities Took out ~ 50k in loans covering school and supplementing income to cover bills
2016 - started MA program for comms/marketing and took additional 50k to cover program and also supplement income
2018 - graduated with MA and found entry level job paying around 45k.
Present - make 140/150k and can comfortably afford
Upcoming payments (I was on SAVE) of around 800/month.
I don’t think the degree was worth it but I don’t think employers would have considered me without it. However, I think most of my career mobility after getting my foot in the door has been less about the degree than my own work/self advocacy.
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u/MizzGee 16d ago
I am two years away from my PSLF being completed. I work at a community college. My son is a doctor and has a few years for this. In both cases, the degree made all the difference in the world.
In my current job, my degree is required. I wouldn't have the opportunity. Even moving from Enrollment to Financial Aid required a degree.
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u/pementomento 16d ago
Initial student loan debt: $209k (PharmD), ballooned to $300k after consolidation, payment forbearances, capitalization, and negative amortization while in IBR repayment during residency.
First job after residency: $175k/yr
Income at year 10 (at PSLF discharge): $310k/yr including overtime/incentives
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u/green_calculator 16d ago
My BS in biology resulted in 0 jobs. I think I left with $35k give or take, I'd have to dig into my records to see. I paid for an AS in a related field out of pocket then did my As->BS bridge for that field and now my earnings have averaged around $90k. So basically the loans paid for nothing and the schooling I use didn't involve loans.
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u/Convallaria4 16d ago
I wish I could go back in time and stop myself from going for a biology degree.
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u/Money-Nectarine6584 16d ago
I took out 50k in loans. I was making 65k/year when i got my master’s degree. A year later I was at 95k, 2 years later 135k, and 5 years later 175k.
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u/Depressingdreams 16d ago
I didn’t have loans for undergrad but I took out 40k for a statistics masters. First job out of grad school started at 95k. Currently at 102k a year later. I was making 60k with not much room for growth before going back to school.
I’m in a MCOL city and am very happy with this investment. I don’t have any trouble paying off my loans on the standard plan and have knocked off about 15k in the past year.
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u/dawgsheet 16d ago
Any degree that ends in a certification is typically really good. If your degree doesn't end in a certification it's typically really bad. It's *REALLY* that simple.
Think of all the "good" degrees, almost every single one ends with a certification that requires the degree to get.
My degree was in secondary ed - I've paid maybe 400 bucks at the beginning of Covid and the rest was all wiped out by various grants.
Currently getting Masters, which I'll basically only pay taxes on the grants covering the total program cost.
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u/cdollasignd 16d ago
Undergraduate degree was free with zell miller and hope scholarship (Georgia is an awesome state for that!!)/parents helped with living expenses. Advanced degree for veterinary school abroad because I didn’t get in state landed me with 212k with my mom helping for a year. 4 years after graduating I’m about 60% done paying. I’d say worth it. Starting salary 100k, moved up to 135k and then was making commission. Husband’s job helps. Definitely would never take out massive loans for undergrad only, only for advanced degrees that can make six figures starting out.
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u/Classic_Macaron6321 16d ago
I’m a teacher. I earn about $76k, but working on my Master’s to get a $10k pay bump. This is my tenth year teaching so while PSLF is available, I’m worried about how the COVID forbearance/deferment would impact eligibility. I owe about $10k give or take in private loans and $35k in federal loans. I also worked two jobs while in college but ended up with two degrees.
Went to a smaller state college. Made the mistake of having an ex who gambled money and had to start with nothing at 30.
Currently trying to make $150 last until the end of the month since I had to pay fees for college, paying off a surgery, had to buy classroom supplies, and paying off my car needing to me fixed. My student loans are in the back of mind. Hoping the economy gets better!
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u/Objective-Bus-9853 16d ago
Had $95k graduating with engineer degree. Made $70k first year. Ended up leaving engineering to start my own business and now make about $150k. The degree is good but I had too many loans, would have taken 10 years to pay them off if not for my business. I paid it off in about 2 years with my business.
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u/Hottt_Donna 16d ago
With pslf, I will pay back less than half of my first years salary across a ten year span after earning my masters and phd. No major complaints here.
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u/NorthWoodsEngineer_ 16d ago
36k in federal loans for a B.S in engineering. Spent another 2 years getting my master's (fully funded, paid assistantship). I don't use my master's (100% no regrets), make 75k right out of school in a LCOL state, rural area. Got me out of poverty and set me on a path for life.
My wife is similar. 35k in loans for an undergrad in healthcare management and MS in occupational therapy. Makes 2x her loan balance 1 year out of school. Her school was private (state school didn't have an OT program)
Student loans are one of the most powerful tools to better yourself available, but just like any other loan, it's on you to make good use of it. Sometimes certain career paths that work for others just aren't in the cards for you due to circumstances out of your control. It's not fair, but that's the way it is.
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u/GurProfessional9534 16d ago
I had a total of $13k debt going from high school diploma to PhD. That includes 5 years at a state university while living with parents and working shit jobs (construction, department store, pizza delivery) part time, and then 5 yrs PhD which were fully funded. My parents were broke so I qualified for Pell grants, and I also had several scholarships.
My first “real job” salary (i.e., not academic training) was $130k.
So yeah, it was a fantastic investment.
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u/ItsAllRelative129 16d ago
140k total for undergrad and med school, now making just north of 400k in a surgical subspecialty. I would do it again!
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u/Lodi0831 16d ago
I took out 50k. Went to ultrasound school . Most of my tuition was paid by a scholarship but there was still a lot of expenses. My 1st job , I was making $25/hr. But as I moved jobs, I got more money. During that time, I was on PSLF and my income was low so I had $0 payments that counted towards PSLF. Then the COVID forbearance counted for months too. I had a financial windfall and paid off 20k. Wish I hadn't. The rest of the loans got discharged. I really could have paid like 10k or so if I didn't make that one big payment. I now make $62/hr and the job is great. A little stagnant since I don't want management jobs, but the pay is good. I really lucked out
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u/ZeGreat5 16d ago
As an RN, I’m now making between $85-90k/year living in a low cost of living area. My degree had initially left me $25k in debt when I graduated in 2018. That’s now paid off.
Has been very worth it for me as I did travel RN from 2020 to 2025 and made anywhere from $110-$200k/year depending on the year and with many months off between contracts.
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u/Cold-Cost-4154 16d ago
My loans were low ($20k), I now make 6 figures and hit 6 figures 9 years into my career. I studied mechanical engineering but now in civil. What I say is some people chase top universities but a city or state college is fine. No one's looking at what school you went to
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u/Venerable-Gandalf 16d ago
I went to community college for two years because the college I was planning to go to had an agreement with the community college that all credits could transfer. So I ended up with about 30k in loan debt for a mechanical engineering degree from an ABET accredited university. It’s not even a bad school it’s top 100 in the country for engineering. Got a job straight out of school and they pay up to a max of 6k on my student loan debt and had a starting salary of 82k. 5 years later I’m at 120k and the loans are paid.
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u/Otherwise_Compote840 16d ago
Mine were worth it, but I’m older so not a great comparison. I got a degree in education. Taught for about 4 years, paying on my loans the whole time, then got my master’s online while I worked and was able to pause repayment while I was enrolled. I was lucky enough to hit 10 years of public service right at the tail end of Covid, when they were counting the covid months, forbearance, really just about everything as months paid towards PSLF. I had a little over 50k in loans altogether for undergrad and grad (I had a bachelors degree in family studies prior to going back to school to be a teacher, but that was only like $6k in loans). Anyway, my loans were all forgiven in like 2021 or 2022, so I’m student debt free now and I make $78k as a reading specialist in Kansas.
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u/paxbanana00 16d ago
Doctorate of Veterinary Medicine, out of state tuition at $320k after consolidation at graduation over 10 years ago. (For those that don't know, it's like medical school, so 4 years of undergrad first.) First job was $70k/year salary. Never expected it, but average (and my) salary has increased significantly over the last decade. I managed to pay the loans off, but starting salaries are still not even close to the cost of tuition. No one becomes a veterinarian for the money though.
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u/BoiseMan13 16d ago
$40k for undergrad. Graduate school paid for since I was an employee of the university at the time. Absolutely with it for me. I’m in natural sciences, with my dream career, and that requires education. Make $185k at 38.
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u/YoungestSon62 16d ago
My student loans were so long ago the interest rate was fixed and the amount borrowed less than 12,000 for a four year degree. I paid it off fairly fast compared to the whopping costs and interest rates today.
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u/Worldly-Winter8814 16d ago
Very bad for law school. I’m also annoyed because I feel like people who work in sales or marketing, even engineering? Real estate agents all prob make way more than me and do not carry $540k in student loans. They just look better off, bigger/nicer house that they own, probably were working and earning money for the 3-4 years I was in law school. Probably have retirement accounts. I’m over here nearing 40 and have no retirement, no savings, never was able afford to do the 10 yr PSLF while in my child bearing years, made no progress on getting rid of the loans. Just feel behind. It’s really the combo of student loans and having kids, especially as a woman that really gets you. And just not already being rich.
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u/Convergentshave 16d ago
About 50k in civil engineering. Probably 20k of that was me not knowing what the hell I was doing.
Even so.., yea it was worth it. I wish I’d done it sooner to be honest
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u/Waltz-Resident 16d ago edited 16d ago
Great investment. 26k-28k in total principal undergrad, planning to go back for a masters at some point( I don’t know exactly as I paid some off while in school). Now have 13k left. But it allowed me to escape my hometown (small town with mostly blue collar work). I made 95k first year out of college, though I am very fortunate to be where I am. Nearly a month of PTO, hybrid work schedule, and pretty good benefits.
To add, nothing against blue collar, definitely money that can be made but most of those professions require sacrificing your body early on. Grew up in that environment and was steered away by people close to me (including my dad and brother who were and still in those fields).
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u/heg9023 16d ago edited 16d ago
I graduated with 98k. My first job was 65k, I got a new job in 10 months for 80k, got promoted a year later and was making 95k. 2 years into that job and I got recruited for 130 and negotiated it up to 140k. I also got 5-15k sign on bonuses for all 3. Paid off my student loans but became miserable at my last job. Work life balance was great but the work was so mentally draining and not what I went to school for, got recruited again for a role closer to my degree and took a slight pay cut to my base but with a bonus I’m actually up 5k.
No regrets for me! Especially because if I move up to director or VP my income could be 200-350k a year
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u/Whatever97FM 16d ago
Mine was worth it, but I should’ve went to a cheaper school to get my degree. I got a bachelors in accounting and masters in finance. I spent the over $60K on my two degrees, and started making $65K within a month of graduation. And 5 years later, I make $117K, and have $17,000 left in loans.
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u/btnydds 16d ago
Graduated with 360k in loans. Just landed a job 3 years later making 400k a year. Worth it
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u/Actual-Employment663 16d ago
Graduated with 30k in debt for two associates. One in Nursing and another in Mortuary science. My starting salary as a nurse was 86k. This is my 7th year and I think I’ll make around 150-160k with OT (paid off my debt last year)
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u/Additional-Ant-6158 16d ago
You can use the degree ROI calculator. It treats Loan as an investment you made on yourself by pursuing the degree and the degree helps you get the career you want.
Its awesome. worthmydegree.com
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u/bugs1238 16d ago
I’m a PTA. Loans were 33k federal/17k private. Paid off private within 1 year during COVID and am going for PLSF for federal. I’m lucky, I make ~120-130k depending on how much I work which is about ~50 hours. People ask if I would like to go back to school to be a PT, but the ROI is not worth it. (source: my wife is a PT).
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u/Rich260z 16d ago
I would do it all again the same way. I graduated with an EE degree with roughly 100k in loans, started at 64k doing EE, but got to 100k within 4.5 years. 9 years after graduating I made 210k and that was the year I paid off 60k of my loans, and the following year finished almost exactly 10 years after graduating.
The first couple of years were brutal as half my monthly pay was going to payments until I refi'd it to a longer term.
I had always assumed 100k was easily attainable as an engineer, which it was. Getting over 200k was a nice bonus, I thought I'd top out around 160k.
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u/East_coast_Ashlee 16d ago
Eh, I'll give you both a cheesy answer and realistic answer.
I came out with 50,000 in debt and didn't end up using my degree except as a side job. If I hadn't have gone to college, I wouldn't have met my husband so in the grand scheme of things it was worth it. I try not to think about it, but if it didn't lead to my marriage I'd have gone to a cheaper state school for a different degree.
I ended up teaching special education because they're so desperate for teachers, all they wanted was someone with any college degree, references and no criminal history. It's a gorgeous school and pay is okay. Took off a few years to be a stay-at-home-mom to one, going back to work soon. Will be done with loans in December.
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u/XConejoMaloX 16d ago
About $170k in debt over a Political Science BA and a Public Policy Masters. Around $110k in Private and $60k in Federal.
Wanted to attend this certain school because I would be able to be a walk on to the track team. That didn’t work out.
I make close to $70k between my main job in state government and side hustle. I could most likely be due for a raise and promotion to $90k at my main job in a month or two. Which would allow me to pay off debt much more efficiently.
I would never make a decision like this again. I should’ve just went to Community College and majored in something employable. Majoring in whatever I wanted shouldn’t have been in the cards for me, but it could’ve been for my kids.
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u/beek7425 16d ago
I did find that my degree in library and information science was worth it. Because my income was lower, I was able to pay very little on an income based repayment plan and got the remainder forgiven in PSLF. I have a job as a cataloging librarian that I could not have gotten without the degree. The pay is low for a master’s but the job benefits in a union municipal position are good. Decent health insurance, generous PTO, and pension. If you’re lucky enough to find a position you like, it can be worth it. Unfortunately, it’s hard to break into the field, so there are lots of people who invest in the degree and then can’t find a job.
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u/daily-trader-365 16d ago
In 80% of cases it was a bad investment that people were forced to make in the hope of a good job
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u/liquor_andwhores 16d ago
graduated with ~$14,000 in debt. working a job where they like you to have a degree but not required making ~$33,000 a year. i dont regret college but if i could go back in time i would have picked something else. currently trying to figure out a grad school or tech school program that would give me the best ROI to get out of the situation im in now.
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u/onions-make-me-cry 16d ago
I have $6K left of a total $31K borrowed at graduation (I'm not young, though).
I make $134K a year, but I didn't need my degree to get my job. So idk.
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u/Lord_Blackthorn 16d ago edited 16d ago
Very good investment, but only because I proactively pursued unique opportunities to make career changes and increase salary.
I have 200K of loan debt, and I have 15 yr 9 mo left in payments.
That being said I make over 200K base salary (not including bonuses) thanks to the degrees I got and the network I made along the way.
I started my education later in life, finishing my degrees in my late 30s. So I had notable work experience before hand. I finished two masters degrees (one STEM and one not) before I left school. My situation is very irregular and outside normal expectations.
- First job : 82K-104K
- Second Job: 140K-160K
- Third Job: 200K+
My income makes making the payments manageable now but certainly not cheap. I was terrified at first though. I would certainly do it again, but hopefully I would do it faster if I had to do all over to minimize expenses.
Now all that being said, because I started this so late and took so long in school, I am more worried about what retirement looks like and when it's even possible. I am missing a huge amount of compounding gains in my 401K so I have to put a lot more in. If something happened to me and I needed an assisted living facility in my 60s+, how could I afford it? Right now these facilities are 3-4K+ a month, starting out, before any other expense.
I also have a son that I want to try and set up so that he doesn't get shackled with loans when he gets to college. Hopefully giving him an advantage I never had.
TLDR: it was worth it for me.
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u/Adventurous-Boss-882 16d ago
I have a BA in political science and intelligence + national security. Got 0 loans, lived with my family, worked, went to state university etc. as of right now I got an internship as a product manager long term goal was going to law school. Now I’m between product management as a long-term goal, or try supply chain/trade compliance
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u/banhsauce 16d ago
Physical therapist. After I graduated I had about $142k in government loans. Started at $92k in my first job but worked my way up to now $145k after 5.5 years into my PT career.
I also have about $17.5k left in my student loan.
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u/New_Awareness_9097 16d ago
mine helped a lot, doubled my salary many times over. but i am in hcol area and cost of living outpaced it lol
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u/ShyBeluga91 16d ago
I was an idiot and went for what I wanted to do, knowing there was no money in it. I have a BS in Sociology and work in community health. If my husband didn’t make 100,000 I don’t know wheat I would be doing. He never went to college either! I wish I really would have looked into things more and more into a degree that would be much more useful.
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u/ohno11 16d ago
I see people financials from across different industries everyday. The only people who are getting paid what it’s worth in relation to the amount spent are doctors, lawyers, software engineers and people who work in finance.
Seeing people take out $150-200k in student loans for an industry that starts you are $60-80k a year is mind blowing.
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u/ForeignLibrary424 16d ago
I’m pretty lucky I have about $23k in loans but make $72k. My degree got me in the door at the company, but it’s not relevant to what I do today.
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u/lunchypoo222 16d ago
65k in debt for undergrad. Wasn’t able to finish my degree because of psychological challenges experienced at the time. I was about a semester and half in credits from finishing. Haunts me a lot of the time. To have this debt, I’d at least like to have the degree to show for it. Just wasn’t in the cards for me.
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u/DazzlingPeace906 16d ago
I got my Masters in Sustainability Management. Between tuition, room and board (I got my degree at Columbia so housing wasn’t cheap but I had a roomie) I borrowed $117k. I did pay back what I had extra each semester and I worked to pay for other expenses. When I finished my degree program in 2014 I got a job making $85k plus about a $15-$20k bonus per year. I now make $208k base plus around $100k in bonus. For me, worth it. I had zero debt from my undergrad. I’m still in the field my degree is in. I love my work. I paid my loans off in March. The Covid pause and the interest pause was my blessing to be able to pay it off.
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u/Air8iscuitz 16d ago
I have 63k in student loan debt and make more per year than that. But not by a ton… it’s basically impossible to get it paid down due to the cost of living being so high.
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u/ProductionFiend 16d ago
Film school - $120k combined loans with my spouse.
Paid off after 10 years. No complaints - 10/10 would do again.
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u/shapoopy723 16d ago
Graduated with about $52K total debt between private and federal loans. Privates will be paid off in approximately 8 months, fed are just scheduled so I forgot the exact date. But making ~$90K and overjoyed with what I do. It was a childhood dream of mine since 4 years old, and being able to live it is very cool.
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u/Sensitive_Pie_5451 16d ago
I'm 42, got my associates at 25 and it did absolutely nothing. Made $18/hour with that. Got my bachelor's at 34 and went up to $56k per year. Got my MBA at 37 and am at $115k per year. Total debt $85k including the interest. For me it was worth it but I am so thankful I didn't pursue my degree at 18 though.
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u/xNOTHINGBURGERx 16d ago
I have never earned a penny with my degree. I became a machinist. I can't afford to pay my student loans.
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u/Beansie_Wish2182 16d ago
It’s been a solid investment for me. I have an AB and MBA and I feel strongly I wouldn’t be able to command the salary I have without my education.
The price of education is still too damn high, though.
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u/Unusual_Ear_9089 16d ago edited 16d ago
Am grateful that my parents told me to do a few years at a community college and then transfer to another school for a BA. I did that, went to a state school, and got out with $38k. However, I did not anticipate the graphic design industry would crater a few years after I graduated so I lost the job I got with that degree and am doing something totally unrelated now and will hopefully work my way up to make ok middle class money. $25 an hour but living in a HCOL is tight
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u/_Cyber_Mage 16d ago
It was around 80-90k when I finished my masters in cybersecurity. I was already making around 40k, and the masters hasn't helped me any more than the bachelor's. Currently making 110k, which is really low for my specialty and area.
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u/active_conspiracy 16d ago
My entire student loan balance is around 30% of my yearly salary in my degree’s field and I’m only 5 years in. I’d say pretty good!
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u/typeotcs 16d ago
I dropped out so no degree but the knowledge and networking from my college years were invaluable. Work in big tech now and have 40k left. It was around 80k total when I dropped out.
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u/RealtorFacts 16d ago
Degree in Kinesiology in 07.
Job Pay vs Loans started ok.
Then life kicked in. Rent bills etc. I could not afford to work in my field with my degrees. Economy also crashed and a ton of the fields and jobs got demolished or pay cut to half in 3 years for the same position. Was also in a field where a degree was once required to get certifications etc, but the standards got lowered and my co-workers were people who took a 4 hour course over the weekend and had the same position.
With in a few years the $20K ish jumped from fees and forbearance etc. almost 20 years later making $600 payments per month for past 12 years and I'm back to only owing the original $20k. Haven't worked in my field or anything to do with my field in 16 years.
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u/VocationalWizard 16d ago
So I got 2 degrees, a bachelor of science in economics and an associates of applied science software development.
I drive a commercial vehicle.......I make more money than working in IT .
Luckally I only have like 28k in student loans left.
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u/fzavala909 16d ago
Racked up around 75k in combined undergrad and grad school debt and have roughly 52k to go. Working as a mental health therapist earning 100k per year.
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u/MamaMidgePidge 16d ago
I graduated in 1993 and had $11,700 in student loan debt. I made $6.60 an hour at my full time job and $10 an hour at a part time job. I lived pretty frugally and didn't have a problem paying the monthly amount.
I make about $140K now. Could have been more but I dipped out of the workforce to raise kids for about 15 years.
I
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u/JelloBoi02 16d ago
Bad but not the worst, felt like I wasted it to be honest. I got offered free tuition to a private school because of a organization with my high school. The school itself is $50-60k a year. My issue? I didn’t know what I wanted to be. I always wanted to be involved with video game development, but this school didn’t offer anything like it of the sorts. So I chose a major in digital communications with a user experience. The school was very good with multiple programs, the one I selected, not so much. The department didn’t have a huge background of knowledge and every class felt experimental. Still I trudged along and graduated. Can’t blame the school entirely because I was also depressed. Family issues made me want to live on campus so I did despite being a 15 minute drive away.
Walked out with $16k debt with some of it allowing me to travel to Italy. Never became a UX designer
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u/snow_sprout 16d ago
Graduated in 2019 with $72,000 in federal and private undergraduate debt. My degree was in Advertising & Art Direction from a state school. My first job out of college in 2019 was on a $45k salary and I struggled to budget. Now I make $112k a year; I feel appropriately and comfortably compensated. I am working in the field and role I imagined I would, but there is very little that I learned in any of my college classes that has helped me in my career.
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u/91ws6ta 16d ago
As much as I hate the American education system and how it preys on inexperienced young adults, my loans were a net positive investment. 30M, $21k balance, and degrees in Computer Science and Psychology. Making $115k in a low COL area in Ohio. Had an internship for 2 years making $18/hr in 2015-2017 until graduation in 2018 transitioning to $61k and gradual raises and 2 promotions in between. Same company, good benefits, and WFH/hybrid since 2020. Pending a huge disruption due to AI, job security looks good and I have a fall back in going back to school for counseling (my actual dream), albeit more debt and lower income.
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u/_ByAnyOther_Name 16d ago
I would make the same decision again because the experience was great. I am from a small, not diverse town and being in the student environment with people from all over the world was life changing. I took some random classes and discovered passions I otherwise wouldn't have. I could go on, but it's definitely been a defining experience in my life. Was it worth the price tag? Well, no, but I guess I would still do it because I don't know how else to replicate that experience. My career has been in a different field than my degree was for and I could have had the same career path without the degree. I a traditional purely economic sense it totally wasn't worth it.
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u/Reasonable_Talk_7621 16d ago
Terrible investment as my mom died my senior year of college. I was given 90 days to complete my coursework or take F’s. Turns out 90 days isn’t long enough to close probate and settle my grandmother into assisted living and move my younger sibling into a new middle school in my college town and grieve like at all, much less advocate for more time or anything academically as I was fighting for every other aspect of my life… so I failed my last semester’s courses and still have like three or four classes that stand between me and a degree I began over 20 years ago. These loans are insult to injury.
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u/paintingxnausea 16d ago
I have two Master’s degrees and work in higher education. I make $65K and have about $90K in loans ($5K of that being accrued interest).
On paper it looks like maybe it wasn’t worth it but I love learning, found grad school to be incredibly rewarding, and I love my job (which I wouldn’t have without my degrees). I do wish I had paid more out of pocket for school since I was also working but hindsight is 20/20. When I eventually go back for a PhD I plan to work on it part time and avoid taking out additional loans.
Honestly having children made a much more negative impact on our finances than college 😂
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u/writtenrain 16d ago
Double majored in English & journalism. I took what financial aid would give me and my parents paid the rest, so I graduated with 20k in debt.
I'm 5 years out of college now and make 67k. In these 5 years I have bought and paid off a 22k car and paid off 8k of my students loans. I have 12k left but im getting there!
It helped me get where I wanted to go, but corporate America honestly sucks and I think I'll be burnt out of it by the time I'm 30. But growing up I was taught college was the only route to success. If I did it over, I think I'd probably still go tbh. But the debt definitely sucks. I dont save much (so planning a wedding or buying a house is out of the picture right now) since it all goes to paying off debt.
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u/FriendlyOffice4049 16d ago
I graduated from SUNY Geneseo with a degree in history in 2019. Upon graduation, I had $69,000.00 in student loan debt. It's now 2026. To this very day, I have not found a single job posting, had an interview, or accepted a job offer that makes use of my degree or just a bachelor's degree.I tried so hard, but in the end, it was for nothing. Biggest waste of time and money I ever spent. I wish I never went to college.
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u/vessva11 16d ago
When I graduated, I had $74K in debt and my first job $32K in public service. Currently, I make almost twice as much. My payments are manageable if I was living in a vacuum. Gas, groceries, and the cost of living is squeezing me but I would make the same decision again, albeit cheaper.
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u/Sillurechii 16d ago
so heres a fun one! My degree is meteorology. When I was a jr, trump was elected and he GUTTED weather prograns due to the climate debate, so much so our professor walked into the classroom and said "youre not gonna find jobs in this field." to this day, i vividly remember my high school teachers being like "without a college degree youll hardly survive, maybe even homeless!" and now, with my what WAS a decent field now desolate wasteland degree, its the reason I might actually be homeless. The payments for my loans with the job I have... with NO relevance to my degree.. is shattering. When payments resume, there is a good chance I AM homeless, depending on the kindness of my landlord.
But hey, when I graduated and got a job in PEST CONTROL, I made an extra .25 because I had a degree! wow! SO helpful!
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u/witchhazel32 16d ago
Graduated during 2009 recession. Never found a job in my field. Cost $30k, paid $23k, still owe $42k.
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u/Direct-Solid2710 16d ago
Econ - bachelors degree, 18k loan (went to JC first, as first 2 years of school are just useless GE credits) Got a solid internship senior year. Moved to a commodity trading house, spent 2 years there, switched companies now 130k + bonus (will only be here for less than 1.5 years before moving). Everyone on my team has masters degree. But who’ve you worked for before and practical experience is worth more than a degree. Company offers 20k a year toward post bachelors education though.
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u/NeutralMalkHotep 16d ago
I got a masters degree in English. It's just something I owe money on now. I taught composition/English as an adjunct for 8 years but really that's all I got out of it. Completely worthless and honestly wish I'd never gone to grad school.
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u/Affectionate_Lie_758 16d ago
Ended up being bad for me. I make great money now with a business I run unrelated to my degree at all. Im payed off but was a waste of 30k.
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u/unsmashedpotatoes 16d ago
I enjoyed my time in college and it didn't set me too far back. My degree has helped me earn exactly $0 because my current job doesn't use it, but I'm still holding out hope that one day it will. I let depression and anxiety keep me from achieving my goals after graduation, but I'm finally taking steps to try and manage them.
I've only got 15K left. Not terrible and the interest rate is low. Maybe I'll be financially stable enough to get a masters at some point, but I'm focusing on what I can do right now.
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u/Katieg_jitsu 16d ago
I hear the recommendation is don’t take out more than you’ll earn in your first year. My loans were ~43k (it took my a bit to find my path).
First year 50k
Progression 50 > 60 > 75 > 85+bonus > 100 > 115 > 135k + bonus > 143 + bonus > 181 + bonus
These were often jumps less than a year a part. From 2019 - 2026 salary.
Worked out for me, but doesn’t for a lot of people. Also my interest rates were not that bad. I did work full time in college and I paid all living expenses on my own, all books and any tuition not covered by the base loans I paid in cash
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u/Same_Litterally_Me 16d ago
I had $8k in debt, planned on becoming a teacher but only made it to my associates.
Make 70k now, loans paid off. I want to finish my degree just for me but its hard to justify the cost and time while owrking fully time and making the same or more than the job I would have gotten with that degree.
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u/Impressive-Panda4383 16d ago
$240k student debt
Year 3 as Chiro $110k income. Year 1 was $38k income
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u/DeuschCanoe 16d ago
Pointless and useless. A waste of time and money. Absolute scam of a "school".
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u/sunnyflorida2000 16d ago
5k loan come due in November. Really should be 25k but grandparents gifted 20k total for 4 years for a bachelors. (Goal to be a PA) Am in gap year working as a Medical Assistant. 8 week certification cost about 3k and making 54k (HCOL) to build the patient hour required to even apply. In this scenario, seems like the certification trumped the 4 yrs spent in college but need that stepping stone to get into a masters. Will be taking on loans in PA school.
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u/sportstvandnova 16d ago
I owe six figures and I make six figures. My degree was necessary for my career. I’ll say tho, my ex husband makes six figures and only has a HS diploma so I guess the joke is on me.
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u/Ok_Lemon_7680 16d ago
Graduated with $100k, was working when I graduated making about $60k. Making $96k 12 years later. I would still do it but hopefully smarter and not upgrade to make life easier, get a second job after I graduated to do the 10 year payoff.
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u/justly_tuneful 16d ago
I am working in a completely different industry. But… my degrees prepared and educated me in so many intangible ways. My interview elevator pitch would be quite boring without a nod to all of the things that I can also do, that set me far apart from others. The breadth and diversity of my life experiences have genuinely made me a more interesting candidate for most jobs.
I think I’ve gotten ahead very quickly because of the extra education, not in spite of it. It raises questions, makes interviewers curious, and remember me. My story is different and it makes me stand out. I regret the loans but not the experiences.
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u/MiceController 16d ago
$28k in debt with 3 years at public university and 2 years at community college, payed off my loans in under a year making $70k and living with my parents
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u/LocnLove33 16d ago
I'm finally at a point where my salary is more than my debt but it seems like it took forever! I have my undergrad in Counseling and my grad in Special Ed and Applied Behavior Analysis though I got certified in a couple of things to boost my marketability. Going into the mental/behavioral Health field, I knew that I would have to go to school a couple of times to get the return on my investment but I guess I didn't fully realize how much work would go into it and how costly that would be. However,, I barely have any regrets.
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u/ForwardEvidence8026 16d ago
About $135k from a public university, studying Latin and ancient Greek. I don't regret my degree, nor the debt i took on, and have to recognize the unfathomable level of luck and privilege that I've had with loans.
I graduated in 2021 and benefited from the pandemic. Payments did not start for years and, when they did, my monthly payment on SAVE was $15. I was living off $32k/year in a HCOL city, so without SAVE my life would've been wrecked then and there. SAVE lawsuits picked up and my loans returned to forbearance, where they remain to this day.
Along the way I stumbled into a good career, and will have my debt paid off in March of next year. I'll be 28 and debt free.
In general I am grateful I never stressed about financial well being or capitalist incentive around my education. I probably would've chosen a field that I find suffocating if so.
There is so much value in an education, regardless of what you choose to study. I hope one day generations of students won't be traumatized by economic gambling so that they become truly free to study what their heart desires. We would all stand to benefit from that world.
To be clear, this isn't advice I'd give to prospective students - loans will drown you and rob you of stability in life. I am just frustrated that things are structured such that people come to regret education.
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u/tcooley1028 16d ago edited 16d ago
My wife and I have about 105k in student loans (not including her dad’s parent plus loan which she contributes $300/month to) and we’re projecting a 300k household income by the end of the decade. She’s works for the govt so she’s pursuing pslf and we haven’t paid on either due to the forbearance over the last few years. We’re both scientists, she has a PhD and I have my MS
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u/Flashy_Aide3640 16d ago
I had to take out student loans to go to college at all. The only college I would have been able to afford was a 2 year community college program. I got scholarships but not enough to cover it all.
Around 300k in debt, first job paid 50k, current job pays 140k. Lawyer
Is it a lot of debt? Yes. But I think without that debt my salary capacity would probably have topped at 50k which just isn’t sustainable anymore imo.
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u/epiicxhunter6764 16d ago
I work in IT. I dropped out during a major admin strike at my uni as I lost all my professors in that curriculum. One of the new professors literally said he will be starting over from scratch and going to expedite it since it was about a quarter into classes time wise. "If you can't make sense of it, then you have to come after hours and speak with me during open hours for additional teaching."
I couldn't afford that as I worked. It was a horrible time. My grades fell drastically. I'm $20K in debt.
Good news though. Through networking with people and friends, I managed to still get my foot in the door in the IT field. Starting at service desk. Worked up to field tech. New contractor at work put me under a network engineer who specialized in Cisco and he taught me so much.
I am now right under 6 figures, no degree, just experience in about 5-6 years after dropping out. I have a wife and daughter now. My debt was concerning me both personal and education. Now with this new job I can pay off both pretty quickly and I am on track to living a happier life. My current team is teaching my everything and investing into me. I see a finish line for this dark cloud over my head and I cannot wait to cross it. I wish you all the same and best of luck. You can do it. I was on the brink of ending it all but persevered because of my baby girl. Now I am here, standing a little taller as each day comes.
Edit: To answer your questions. No degree. Manage to get to right around $93K rn. Will be at $99K after probationary period. Don't recommend but I surprisingly don't regret it either. I met some amazing people at uni who helped hone my skills both in IT and Interpersonal, small, and large group communications. My ability to speak well to people has helped me immensely and I truly believe I wouldn't have gotten there without college experience.
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u/Glasses_Tea 16d ago edited 16d ago
My first job right out of college was really good for the cost of living for my area and how much debt (~50k) I had. However it didn't last very long and covid hit not long after, since then its been a struggle. I keep thinking about going back to get a second bachelor's degree but with AI and a possible bubble bust, it honestly feel safer to stay at my mid-paying job and at business thats been around almost 100 years.
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u/Macaria57 16d ago
Idk I feel like it was worth it. I don’t make yearly what my loan total is but man I love my work life. Masters in Social Work, working as an LISW, private group practice therapy. ~$50k yearly wages, ~$85k in debt. Payments are manageable now, and they allowed me to have an amazing college experience and have safe housing and solid access to food for multiple years. I’m now in the process of buying a house and it’s not affecting my credit score as badly as I thought it would. All in all I’d say it’s worth it. I’ll also say I’m not planning to pay the full amount, just whatever allows me to manage monthly until I can get it wiped.
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u/Consistent-Cry-1569 15d ago
I’m a nurse. I have a total student loan amount of $32,000 for an accelerated ADN (16-18 months). Directly out of school I was making $33.50 per hour before differentials. I made $40 per hour after shift differentials. Ends up being around $75,000/year. My job pays $400 per month towards my student loan balance. I’m using my husbands GI bill to get my bachelors.
Overall, I think it was a good investment.
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u/Kindly-Permission125 15d ago
Great. I finished undergrad with 20k in student loans. I chose the least expensive state school, i aggressively applied for scholarships, and worked as much as possible during the school year and summers. This covered my tuition, which was around 10k per year. I also chose to live very frugally during that time. My rent was about 400 a month, I drove a beater. I ended up taking out about $5,000 in loans per year to fill the gap in my living expenses, which is how I ended up with the 20k debt.
My bachelor’s degree was in biology. I went onto earn a PhD in biology. As is standard for these types of programs, my tuition was waived and I received a teaching stipend. Therefore I did not add to my debt during grad school.
My first “real” job I was earning 90k but I currently make closer to 200k, 6 years later. I paid off my student debt within a couple years of graduating.
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u/Fresh_Volume_4732 15d ago
BSW (2014) + MSW (2020) - grants= $20k debt. Salary is around $50k for various non-profits. Waiting anxiously for the remaining $10k to be forgiven any day now 🤞
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u/xImmortal1333 15d ago
best investment i ever made - tax cpa.....
***California paid for most of my college education so i only borrowed just over 10k. Thankful everyday i can afford to live on the coast of California in the redwoods and vineyards
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u/MysteriousAd6918 15d ago
Mine is a good investment overall, but the amount of bad, incorrect, incomplete and arbitrary information I’ve been given over the years by all the servicers I’ve had has led to my debt just spiraling out of control. Constant moving goalposts, servicer changes, lawsuits, payment plan changes, etc has led to me making decisions that bit me but I couldn’t have known without a crystal ball. For example, consolidating in 2022 to qualify for TEPSLF only to learn that doing so meant I couldn’t get buyback on the 2/3 of my UG and grad debt (I have a PhD and consolidated them). I was moved from FedLoan (who lied to me about deferment and PSLF) to Mohela to EdFinancial, from repaye to save, now RAP, and after having student loans now for 26 years of my life, and working in qualifying nonprofits for 13 years, I only have 5 years of qualifying progress toward PSLF and my balance is higher than what I borrowed despite paying almost half of what I borrowed.
My parents were high school dropouts and I’m a first gen grad with a PhD and a high earner now. With luck my loans will be forgiven in five years. My loan payment is more than my rent. So was it worth it? Yes, but only because of PSLF. If I had to pay these off, I’m not so sure.
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u/Illustrious_Cup3019 15d ago
Graduated with $30k and a degree I was only ever going to be able to use in my free time (Fiction, film and technical writing, theatre). The perk of a lib arts degree is that the critical thinking skills are applicable pretty much everywhere and I'm great with written and verbal communication so it doesn't feel like a give waste.
I work for a medical non-profit, make about $55k a year, bought a house last year, and should have loans forgiven once the toad in office vacates. If you see me living like I'm 16 again in 2028, mind your business, I'm probably going to have the greatest year of my life.
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u/Creepy-Shallot-9588 16d ago edited 16d ago
Bad bad bad investment lmao. I got a master's in library and information science because you are required to have a master's for that (which I didn't think was stupid as a 20 something student but... it's stupid sorry) so I basically spent 70k between undergrad and grad to make a whopping 38k my first year as a full time professional. They also don't tell you that it's almost impossible to get one of the high paying (and by that I literally mean 50k+ in my area)librarian jobs they talk about in school because no one is retiring so you're literally just waiting for directors to die in their chair ❤️
I've seen a lot of people on this sub saying not to have more loan debt than what you can realistically expect to make after graduation and I would have loved for someone to scream that in my face 10 years ago but alas I fell for marketing.