At the end of last year, I stated that I wanted to pay down ~$34,000 in consumer debt (outside of my mortgage). I am writing today to report on both a level of success and a switch in strategy. How am I faring? In short: decently. I am not currently on track to hit my […]
Remember a few weeks back when we did a bit of research on whether Photography School was worth it? Turns out that if you want to be a photographer, it’s best to take a non-fully paid undergraduate photography degree route. That doesn’t mean that some very good questions weren’t raised – so here we are […]
In light of a weak job market, massive student loans debts, increasing loan defaults, more 20-somethings living at home, and, on top of it all, spiraling college costs… it’s far past time to ask: Should you care about potential earnings when you choose a major? This site is no stranger to wandering into controversial topics […]
I wanted to take the time to write down all of the personal finance basics as I see them, to create a great resource and easily linked article so you – and your friends – can learn everything without having to search. This post came after years of studying the field, and writing for this […]
You know we here at DQYDJ love to try to raise your hackles every once and a while, and there’s no surer way to offend a lot of people than talking about college. The last time we visited the land of student loans, we asked you if Arts and Psychology Majors should pay higher rates […]
Sorry to pick on the Art Majors, but all of this discussion about President Obama’s Executive Order on student loans has pointed the country down an interesting path. Perform this thought experiment with me… The vast majority of student loans in the United States are federally backed. There are also $1,000,000,000,000 in student loans outstanding. This means that, in the event student loans aren’t paid, the debt will be borne by the general fund of the United States (read: taxpayers paying private and public colleges). Should taxpayers demand lower paying majors pay higher student loan rates?
Tying to an article earlier that my colleague PKamp3 wrote, personal finance seems to have taken a dive in popularity in more recent years. As a writer for a confessedly self-aware personal finance crowd, this assertion may seem irrelevant, surprising, or, at worst, alarming. As a young college graduate, many of my fellow coworkers (as well as I) have student loans as one of their more significant financial obligations on top of car loans and (soon) mortgages. Some plan on paying down their student loans as fast as possible to deleverage themselves and then start saving for a home. I am of a different and not necessarily correct opinion: to hold onto the student loans for as long as possible due to their incredibly low interest rate and tax-deductibility for incomes up to $60,000 (partial deductions up to $75,000).