Student Loans > Own Apartment

At 23 years and 2 months old I finally realized the definition of high interest rates. Instead of being $40,000 in debt, I am $70,000. Thank you nearly 8% interest rates. I was naive about the burden of student loans throughout my undergraduate journey. Refusing to give more than $25 a month towards these loans. I did recognize student loans would come back to haunt me. However, I didn’t realize how hard it would emotionally hit me. I just began renting my own apartment 2 months ago. Living on my own has been so peaceful and relaxing. I am tossing up the idea of breaking my lease to move back in with my parents so I can throw all my money towards student loans instead of rent. I am so torn on whether or not it is a good idea.

I was speaking to one of my professors yesterday whom said “I could technically pay off my student loans now and be debt free. However, I am buying a house so I will have a mortgage to pay. Which means I will be debt free for about 6 weeks”. Today one of my students brought up a good point “You can’t take debt to your grave. Let it be, pay what you can and when you can”.

My biggest issue is that I do not want to give more money to the banks than what I have to. I am already forced to give $6,000 more than my original balances. The idea of paying back student loans for the rest of my life kills me, but the thought of living with my parents again kills me even more. I am in a sticky situation and would absolutely love everyone and anyone’s opinion on what to do 🙂