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by amalcon
4776 days ago
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My student loans weren't quite $100k, but I was single-minded about paying them off. I got a (decent, but not spectacular pay) software job right out of school, and managed to get back to zero debt in about five years. I'd say it worked out well for me, but my situation is very different from that of the woman in the article. First of all, I graduated in 2005. Interest rates were much lower, and dollars worth a little less, than in 1994. I also didn't have children, or any intention of having them in the near future -- children are very expensive. Finally, I did have to live frugally for that period. For example, I carried groceries about 3/4 mile so that I wouldn't need a car. It wasn't poverty by any means, but I skipped many things my peers considered "essential". For that reason I'd say, while it worked out for me, it is certainly not for everyone. |
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