I’m a college student with about $9,000 in debt. I’ve been trying to pay it off, but whenever someone has offered to help me get out of debt, I end up using the money just to get by instead of paying it off. It wasn’t always this bad I originally had only $3,500 in debt.
I’m about to return to school, and my parents told me I’ll be responsible for paying everything on my own. It’s understandable since I’ve failed this class before, and they’re adding pressure so I won’t fail again. But I can’t afford to take on more debt. Neither my parents nor my boyfriend know about my current debt situation. I feel lost and don’t know what to do. I’m 23, and it feels like I’ve already messed up my life.
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Your life is not damaged by you. However, you don’t really seem to be serious about organizing your funds either. If I were in your position, I wouldn’t return this semester to focus on organizing your funds. Receiving emotional support from others around you and being open about what’s going on are also important.
This. It is possible to eliminate that 9k in less than a year. After that, start over in school.
Debt of $9,000 is nothing. Some people manage to pay off their $100,000 debt. It’s not a difficult scenario for you. Take on two part-time jobs and utilize all of your earnings to settle the debt. Store your credit cards in a secure location away from your direct access. What happens if your bank account is devoid of cash? You’re not making a purchase.
You won’t perceive the need to break old patterns if you have never been made to answer for your past deeds. Don’t waste your education; instead, concentrate and perform better. If you have a job, you can pay off your debt gradually. I hope the best for you; never give up on yourself.
I was in a similar situation over 10 years ago. I owed $10,000 in past rent fees to my university and was on the verge of being evicted from my apartment. Here’s how I turned things around: I took a year off from school, moved out of my apartment, and rented a bedroom in a woman’s house. I then got a full-time job as a nanny and worked tirelessly to pay off my debt. After that year, I returned to school while continuing to work full-time. A couple of years later, I graduated and found a job in my field. Today, my life is completely different, and my finances are in excellent shape. You haven’t ruined your life just stay focused on your goal, and you can definitely pull yourself out of this situation. Wishing you the best of luck.
Not everyone is suited for college. I said it there. I’m not sure what your goals are, how long you’ve been going, or how much of your own money you’ve spent, but before you go too far this semester, you might want to give it a serious thought and determine if this is the proper course for you.
It is not impossible to pay off your debt. I owed $26,000 as a result of my education and poor choices. My mother gave me a loan of money. I considered the loan payment to my mother to be a fixed cost. You may wish to hold a weekend side meeting if you do not want your family to know that you are in debt. Are you able to walk dogs? skip school and take minimal wage work to pay off the loan.