Paying off your loan as a designer

I just want to hear from different people.
Did you easily pay it off/how long did it take/ are you still in dept? and if you feel comfortable you can even say how much you owed.

That’s a pretty tough question since everyone’s financial decisions are different both during and after school.

As general thoughts:
-Some people hate debt, and as soon as they graduate will up their payments on their loans as much as possible to pay them off as quick as they can. Others are OK living with the payment and will make the minimum payment for as many years necessary.
-Debt sucks either way - consider that when choosing a school. I went to Virginia Tech not because it was the best ID school (especially not back in 2001) but because it was an affordable program. With VT cranking out top notch grads these days, value for your money is just another plus. Especially considering 4 vs 5 year programs.

I was able to get my college loans paid off almost immediately. But that was thanks in part to an affordable school, a job straight out of the gate, and good financial planning by my parents and grand parents to help me out. My wife is still paying off her loans (and has more because she also has her masters degree) but only pays the minimum each month, so it will still be several years before she is debt free.

Sadly, I have come to the conclusion that I will be paying (jointly) student loans until they are forgiven. My wife went to law school, so she has massive amounts. We try to pay as much as possible, but unless we win the lottery they will be forgiven in 25 years. At this point we are just trying to pay the minimum and put away a little more to cover the massive taxable income we will get hit with when it is forgiven (we assume over 100k).

My personal loans for design school arent bad. I usually pay as much as I comfortably can, which is more than the minimum. I make sure that I put in a good chunk to my retirement, then focus on the loan. My loan has a very low interest rate so it isnt really killing me to keep it around. Although, I really hate being in debt, so I try to pay it off as fast as I can. This is the reason I cant post in the ‘thinking of getting a new ride…carbon edition’ thread… :frowning: