My DebtJournal out of 100K of Undergrad Loans

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DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Sun Jul 01, 2012 6:51 pm

I paid off a debt today. It was a personal loan from an old friend. It was the one thing that I felt the most obligated to pay off. Next month I pay off my discover card, and begin tackling the student loans! It feels surprisingly amazing to pay off a debt. It feels really good. My safety fund also just hit 1000, which feels... safer!

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Eagle
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby Eagle » Mon Jul 02, 2012 4:08 am

Congrats on paying off the loan! And having 1000 in your Safety Fund. You are on your way to getting debt free! Cheers. ;)
~ Eagle
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DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Tue Jul 03, 2012 11:43 am

Thanks Eagle. Next month will be great when I get paid. I will pay off another debt, and will put my first chunk of cash towards an actual student loan! Win!

I'm doing my best to keep my head above water, but I'm still depressed in graduate school right now. I really don't think this is me and I'm trying to switch to a career. I have a friend who is attempting to get me a better paying job in sales. I hope I get a call, an interview, and a job. That would increase my income nearly 10K, and give me peace of mind when the clock strikes 5pm every day.

DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Sat Jul 07, 2012 3:34 pm

I just paid off my Discover card with a refund check that I got from my university for conference travels last month! Awesome win! I now have nothing but student loans to pay at the end of this month, when my paycheck comes in. I do have 2 more credit cards that are both maxed at around 2000k each, but those are 0% until july of 2013. It's all student loans until about march or april of 2013!

I've also been continuously applying for jobs in various fields. All the jobs are potentially higher paying than my PhD stipend. I am no longer as depressed, I'm simply more frustrated now that I feel trapped in this PhD program (and I am honestly totally unmotivated to do work). I feel like I have no guidance from my mentor, and when I ask questions he is just unrelentingly positive... "sounds great!" is all I get.

Is it a pipedream to think that if I got a 9-5 job I could wake up early, gym every day, work really hard at my job, leave at 5, tutor for a few hours after work and on weekends, and greatly increase my income? I don't doubt my ability to find tutoring clients. I'm in a good size city, with many private schools and lots of money that parents are willing to spend. I'm trained in math and sciences and definitely feel confident that I can market myself well. I also know that tutors in my city make $50 an hour pretty easily. I would also LOVE IT because I would actually feel like I'm helping people.

DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Mon Jul 09, 2012 8:32 am

I've advanced a bit towards one of the jobs that I have applied to! I'm really hoping I get this position. It would pay very well, and would be interesting and meaningful work in healthcare.

I am trying to be honest with myself that leaving a PhD program is an OK thing to do... There is guilt associated with it, but if I am fortunate enough to get a job and I feel I would be happier, then I must accept that I'm not "quitting" I'm just making a life change.

DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Mon Jul 09, 2012 12:33 pm

OK... Advice is appreciated!

I received 2 phone interviews today. One is for a sales job. It's local. I wouldn't have to move, but I would be taking a cut in pay. The "average" salary with commissions is about 10K more than I make now... but the question is, do I want to work in Sales and where can I go from there?... also it is pretty risky to make this switch when the commissions are not guaranteed? I asked how they calculate the average, and they told me it's calculated yearly.

Second job is at a health company that pays very, very well. There is room for growth as a consultant in this field. I could pay off my debt in 3 years or so, and eventually be making close to double (120-130K). It's a "work hard play hard" company says a friend who is currently employed there. I would have to relocate, but that's paid for.

And then there is good ol' grad school. Making 34K, stressed, and knowing I don't want to be a professor. Also know that I don't want to pay debt for 6+ years with a risk of being ABD for a long time, and post doc after that...

Ultimately it's up to me... but advice helps!

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Re: My DebtJournal out of 100K of Undergrad Loans

Postby CecilyC » Mon Jul 09, 2012 1:47 pm

I'd go for option two. Relocating isn't a picnic, and "work hard, play hard" isn't for everyone, but the long-term prospects sound somewhat better. And the higher salary would ease your mind and greatly speed your debt payoff plan! If you really love where you live, however, and "work hard, play hard" isn't your thing, then the sales job would be the way to go.

Does "play hard" mean "spend a lot of money on recreation"? I wonder.

Do NOT feel guilty about deciding not to become a professor. You tried it, it wasn't a good fit. End of story. Besides, your departure could be freeing up a spot in a graduate program for someone who really, really, wants that life!

DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Mon Jul 09, 2012 3:37 pm

Thanks Prof C!

It's such a hard, hard decision to make... but after reading tons of "get out of grad school blogs" and after realizing my potential salary, and after the depression, the zoloft, the utter lack of motivation to do research, the realization that I don't want to be a professor or read/write for my life, I'm really thinking I should try for option 2. The relocation is reimbursed, and the job would be a problem solving / engineering type role which really fits who I am as a person.

My friend who told me about "work hard play hard" never goes out on weeknights. He'll party on the weekend, but that can be done inexpensively if one doesn't drink much (and I don't).

The company provides extensive training, so as long as I work hard and stay motivated with this new task, I really think I could succeed! It's exciting to think about, while my research is not... better to leave now I think. Fingers crossed that I get the job in the next few week.

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Re: My DebtJournal out of 100K of Undergrad Loans

Postby fiddlefaddle » Mon Jul 09, 2012 6:33 pm

I agree with Cecily that the 2nd job sounds best. Unless you are a natural at sales, I wouldn't even consider the sales job. Chances are good that you could make less than you do now in school!

Is Job #2 somewhat in line with your background and interests? Is it an area you think you'd be happy having a career in? Does the job truly interest you, or are you just focused on the salary? Not trying to be hard on you, but I think you'll find paying off your debt much easier if you're doing work you enjoy. :)

I went from education to healthcare IT via a long and winding path. I enjoy both fields very much, but achieving financial security would have been much harder had I stayed in education, so I'm happy with my choices.
Fiddlefaddle's experiments in time management:
<a href=http://www.productivityguineapig.com/>Productivity Guinea Pig</a>

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Eagle
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby Eagle » Mon Jul 09, 2012 6:59 pm

Just got caught up.

DebtGrad64 wrote:It's such a hard, hard decision to make... but after reading tons of "get out of grad school blogs" and after realizing my potential salary, and after the depression, the zoloft, the utter lack of motivation to do research, the realization that I don't want to be a professor or read/write for my life, I'm really thinking I should try for option 2. The relocation is reimbursed, and the job would be a problem solving / engineering type role which really fits who I am as a person.


Option #2 sounds good and you say it could really be a good fit. Sales takes a lot of energy and a certain personality type. I did it for about 7 years. By the time I got out I could barely stand the general public. But it was a means to an end - finishing my MBA and paying the bills. Based on what you've said I don't think sales is for you.

fiddlefaddle wrote:Is Job #2 somewhat in line with your background and interests? Is it an area you think you'd be happy having a career in? Does the job truly interest you, or are you just focused on the salary? Not trying to be hard on you, but I think you'll find paying off your debt much easier if you're doing work you enjoy.


I agree option #2. I originally started out as a psycohology/counseling major in college. Then I realized I would have to get a masters and most likely a doctorate. Thankfully I made the switch early in college. There is no time like the present! Hope it all works out! ;)
~ Eagle
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DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Mon Jul 09, 2012 8:35 pm

Thanks all. Job 2 sounds and feels right to me based on what I know so far. It's really hard to have my brain go so "back and forth" about leaving grad school, but I think I know deep down it's not for me. The healthcare IT job is supposed to be pretty demanding time-wise, and I don't think it will last forever, but it's a good stepping stone to help pay debt off faster. One of my degrees is in a healthcare related field, so this is a fit. AND the job is all about trouble shooting and software implementation. I'm a tech nerd, so this is hopefully cake for me.

Time will tell! In the meantime, I'm trying to work as hard as I can in school to please my adviser, because I might have to break the news to him soon if I get the job.

DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Wed Jul 11, 2012 5:22 pm

I had my phone interview today for the big health IT company. I think it went really well. it would be a great job to get, fingers crossed.

DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Sun Jul 22, 2012 1:27 am

So I successfully passed the phone interview, and a follow up interview after that. I have one final in person interview in a week. If I get this job, I am going to be very happy! I would then have to relocate, however I investigated rent prices in my new city, and I would be saving close to 200 a month on rent in this cheaper location. So that's a plus as well.

I also finally talked to my advisor and we have agreed a PhD is not for me. He is being extremely helpful and wants to work with me to at least try to get a masters while still getting some funding.

Things are looking up! I'll keep posting! :)

DebtGrad64
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Re: My DebtJournal out of 100K of Undergrad Loans

Postby DebtGrad64 » Sat Aug 04, 2012 11:10 pm

So I had the interview, and didn't get the job. I've asked for feedback, politely. No point in getting my head down! I've already applied for 3 other jobs, two of which my good friend knows people at. he is putting my resume in directly for me.

I am bummed about the job, but it really is pointless to dwell. FORWARD!

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Re: My DebtJournal out of 100K of Undergrad Loans

Postby Eagle » Sun Aug 05, 2012 6:25 am

DebtGrad64 wrote:So I had the interview, and didn't get the job. I've asked for feedback, politely. No point in getting my head down! I've already applied for 3 other jobs, two of which my good friend knows people at. he is putting my resume in directly for me.

I am bummed about the job, but it really is pointless to dwell. FORWARD!


Well don't worry about it. It takes some time to get good at interviews again. Plus it seems like you have other opportunities lined up. Keep moving forward! 8)
~ Eagle
www.eaglesoaringhigher.com


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