<prompt> Human: Hi, PF! I hope you can give me some guidance. Throwaway because people know my actual reddit name and this situation is humiliating. : I just graduated from a private 4-year institution in May 2015 and realized that the financial choice to attend that university was extremely poor, but I didnt understand the effect loans would have in the long-run, and unfortunately my parents didnt either. My loans are currently being deferred because I am still considered a full-time student. I got a degree that is not marketable with just a BA, psychology, so I am currently at a junior college to finish pre-reqs for nursing school. My first quarter is paid off for the junior college, but I will have 4 quarters to pay for each at about 1,500 after this fall quarter to finish my pre-reqs. I want to go to an accelerated nursing school in California once I finish my pre-reqs. Im working as an on-call CNA while I continue going to school, so I have a very small income that varies month to month depending on how much I work. The pay is 11hr. My parents were unable to help me pay for college, so I took out private loans. Hindsight is 2020, but here is where I currently stand. Private Loan 1: 70,399.09 Interest Rate: 5.49 Private Loan 2: 36,399 Interest Rate: 5.00 Federal Perkins Loan: 8,000 Interest Rate: 5.00 Direct Stafford Unsub. Loan 1: 2,000 Interest Rate: 4.66 Loan 2: 2,000 Interest Rate: 3.86 Loan 3: 2,000 Interest Rate: 6.80 Loan 4: 2,000 Interest Rate: 6.80 Direct Stafford Sub. Loan 1: 5,500 Interest Rate: 4.66 Loan 2: 5,500 Interest Rate: 3.86 Loan 3: 4,500 Interest Rate: 3.40 Loan 4: 3,500 Interest Rate: 3.40 Total Debt: 141,798.09 I do not have any other debt, and I live with my parents. I do not own a car; my sister is allowing my to carpool with her to work. I will eventually have to obtain a car so that I can continue my schooling, but I dont know how Ill ever afford that. : My only other expenditure is my cell phone bill, which is 50month. My plan is to use the avalanche method to pay down my debt with my eventual RN salary. Ill be an RN in 3 years if my schooling goes as planned. Somehow Ill have to also pay for nursing school, however. Obviously I intend to find the most affordable option there. How can I afford to eventually get a car and pay for nursing school while I have this undergraduate debt hanging over my head? My 5-year goal is to move to California to live with my boyfriend, he is looking into buying a house and is much more financially stable than I am. We are planning our future together and he has agreed to housefeed me for 2 years while I get through nursing school so my primary expenditure will be my student loans during that time. Once I graduate I will be better able to pay off my loans with my nursing salary. I know I made a huge mistake in taking out these loans, but Im trying to move forward responsibly from this point. Any advice on how to get this under control, or am I making a mistake by moving away, or thinking of getting a car? What do I need to prioritize and what do I absolutely have to wait on? Im open to any advice.Thank you in advance!!Edit: FormattingAssistant: If it makes you feel any better, youre not alone. A lot of people are in the boat youre in, especially post-2008, and Im one of them.My debt private university included comes out to over 100K. I have dreams of grad school, but this is where you and I differ. Ive chosen to work - at any job I can get - and pay down my debt before continuing my education. For me, being responsible translates into a strict monthly budget, disciplinesacrifice, and paying the 700 bucks a month I owe.There is light at the end of the tunnel and you will be a nurse someday. It just might take a little longer than you hoped. If you want to be responsible, IMO put school on hold for a while, work, get yourself on firm ground, and then revisit the idea of finishing up.Best of luck to you.Human: Thank you so much. Ive considered holding off on school, but my thought was that if I continue trying to pay off my loans with my 11hr salary, it will end up taking me significantly longer than if I bite the bullet, finish nursing school and make like 60,000year. If I keep going to school, in three years Ill have way more money to throw at my loans, and I wont accumulate as much interest in the long-run. Thoughts?Assistant: Theres no guarantee that youll make 60K when you graduate, either. The job market isnt as golden as it was before the crash. Try researching entry-level jobs for psychology degrees. I ran a cursory search and found several career paths that pay way more than 11 an hour.If I were in your position, I wouldnt work only one job. I work from 6 in the morning until about 10 at night, often seven days a week, to earn enough to support my current lifestyle and still make my student loan payments. I walk everywhere or take the bus. My groceries come in at 40 a week or less I live in San Francisco. I live alone so I pay my own rent well, I rent a room in someones house. A college degree isnt a promise that a person can finally take things easy and not have to work as hard as a person who lacks one.It really comes down to your mindset. The responsible and adult thing to do would be delay the gratification of school, own the debt you owe, and pay it off or get to a point where youre financially comfortable enough to start taking classes again. Student loans arent fixed, theyre amortized, which means your payments will decrease over time and free up disposable income for you to invest in furthering your education or even quitting the extra job.Human: After I have 6 months of experience as a CNA, I will be eligible to work at the hospital, which pays 16hr to start. Thats my goal for the short-term. And working as a CNA gives me experience for nursing school, which is beneficial in that regard.I can definitely work more hours, but wouldnt it make sense to get schooling out of the way so that Ill have a larger income to throw at my loans? There are lots of nursing jobs available, Ive already looked into that aspect of things. I dont think Ill have a problem finding a nursing job, but I could be wrong I suppose.Assistant: From a fiscal responsibility perspective, no, it doesnt make sense. I hear every day from former schoolmates that it makes more sense to finish because itll net more income after Im done and what it really boils down to in my mind is deferment of their responsibilities. Regardless of how you approach your position, many people will only hear that youre trying to push things back a little.Im a bit older than the average college student and was raised in a rather no-nonsense-pull-yourself-up-by-your-bootstraps-and-work-your-butt-off area of the Midwest, so this affects my mental framework. Having studied psychology, youll probably understand when I say that some of the responders on this thread might think youre seeking validation for your position.My position stands. Put school off. This is what a financially responsible adult would do. At present, youre not even financially independent, most of your costs of living are shouldered by other people. You might be able to get more in government loans but those are limited. Eventually youll need more? private loans and your credit may not stand up to securing them. The more loans you have, the lower your rating. What happens then? Cosigner. Your parents then shoulder the burden of loans that you may struggle to pay back at even 16 an hour. What happens if you default? The bank goes after your parents, their assets, their credit.Work. Put school off for a year or two. In the meantime, talk to your lenders and see if they offer income sensitive repayment programs, or adjusted gross income repayment terms. If youre approved, thatll help lower your monthly payments so that you have more room to breathe.I really dont know how else to respond to your situation.Human: Im definitely open to putting off school if that truly is the most financially responsible decision, but I dont understand how putting 11hr toward my loans will make a huge difference? I just need some math breakdown so I can understand it better.My parents are willing to support me while I work to pay off my loans. I obviously cant afford to live on my own yet, so it is mutually beneficial for all of us to live at home and put all my money toward loans. They already cosigned on all of my private loans, they are not savings-minded people at all. They essentially live paycheck to paycheck, so were all just trying to get by and make it work.  <response>: I work in nursing.Youll make way more nursing than you ever would with a psychology degree. Just make sure your ABSN is from a cheap school. 