[apieceofpi]

Step 0: no debt. You could attribute that to luck or smart early decision making, but that's definitely a large step ahead of everyone else.

Personally, I have measured it will take me approximately three years of post-college work experience to get out of debt (with my current income, budget, amount of debt, etc.). I haven't heard of any startup founders that go into a startup with debt already in their wallet so I feel that the amount of student loan debt universally shrinks the space of potential new entrepreneurs.

[jacoblyles]

I had a very large negative net worth when I finished grad school and started working on startups 12 months ago. It was risky, but you have to have a taste for risk to be an entrepreneur.

[apieceofpi]

That's inspiring to hear. Student loan debt is not the worse debt to have; however, it doesn't go away even if you declare personal bankruptcy (although, there are bills going through the legislative process currently to amend this currently).

Perhaps I am not as risk-taking as you are, but having to worry about paying student loan debt versus startup concerns seems like a mental battle I am not prepared to fight. I'd rather do the debt repayment independent of the startup so I can focus on each individually with undivided financial attention. On the other hand, the argument can be made that having debt repayment while you're running a startup makes you hungrier. Although, I predict that would make me rather short-sighted to live hand to mouth.

[jacoblyles]

Don't forget that if you have a sufficiently low income, you can suspend payment on your student loans for a year at a time up to three years with no penalty. I think it is called "forebearance".

Unfortunately, now I am making a salary and next year I will have to start paying my loans again :\

[melvinram]

You might want to read this: http://www.allianceofceos.com/documents/forum/2010-01-Malcol...