I have just finished my second year of my bachelor's degree in computer science. Unfortunately, I go to one of the most expensive public universities in the country and I am going to have soooo much debt when I graduate. My parents make too much for me to qualify for any grants but they make too little to help with the tuition. So I am 100% on my own in this endeavor. By the time I graduate, I will most likely have about $120K in debt based on my estimations.
My question is: what can I do to prepare for this loan repayment when I graduate in two years? Obviously, getting a good job would be the best option. The average pay for graduates of my major from my school is about $77K, but I'm hoping to make more than that. I have an internship this summer and I'm hoping to get an even better one for next summer on top of doing research potentially. So I am starting to build a decent resume to put myself in that situation.
Most of my loans are private loans through Sallie Mae and I got HORRIBLE interest rates despite my dad cosigning (his credit score is high 700s) and my own credit score of low-to-mid 700s. Most of my rates are just below 10% so obviously I need to refinance ASAP. Any tips for that?
I'm also starting to think about where I would live after I graduate and as much as I would love to go after a Silicon Valley job, I've pretty much eliminated that as an option. I'm looking into Seattle potentially just because the pay for CS jobs is high but without the crazy Bay Area cost of living. I'm also interested in Colorado and Texas which have quite low cost of living as well. Of course, I could stay in my home state of PA or the East coast in general, but I'm looking to move west if possible. If anyone knows of any other booming tech areas that are cheap to live in let me know please.
Finally, what lifestyle choices can I make to prepare for my loan repayment? I would say I live somewhat frugally currently, but any advice is appreciated.
TL;DR: I'll be graduating with 120K in debt, what can I do to make it not suck?
Submitted May 10, 2018 at 11:04AM by zk2997 https://ift.tt/2KbpplQ
