Hello from Maine!

**elohimrules** · 08-30-2007, 03:12 PM

Hello, I am glad to have found your forum. I believe in frugal living but I sometimes wonder if I have made the wrong decision to go to college. I am a single gal in her 30's. I just went back to college and frugally was able to get a 7 year master's degree in just 4 years! But, now I am 50k in debt. My main goal was to use this degree to better support my "true" calling to be an artist. I figured I would be making more per hour (which I will, possibly even up to $30), and be able to work less hours and have more time for my art (25 hrs for my work week). But, now I worry that the school debt bill each month will keep me working a 40 hr work week and my day job will overshadow my dream.

I did feel I had to do something as everything has become so expensive that my 22k per year job was not providing enough for my living expenses. Any ideas how I can live my dream of persuing my art with 50k in college loan expenses? At least I studied something that is easy to find a job in and pays well. I just hope it doesnt squash out my dreams! Any advice is welcome. I have very little credit card debt (3k). No car debt and I rent an affordable apartment.

**~Elvira~** · 08-30-2007, 03:55 PM

First of all congratulations on completing your degree! That is a major accomplishment and you should be very proud of yourself. Second, I don't think that furthering your education could EVER be a wrong decision. In this case, you did it with a goal in mind and that is never a mistake. And, you already have the degree and the debt, so there's no point in wishing for a do-over.

What kind of interest rate do you have on the loans? Are you able to consolidate? Does your lender offer interest rate reductions for being set up on auto-withdrawal and things of that nature? I would check and see what your options are. Student loan debt is considered a "good" debt when compared with credit cards and car loans. It's more like a mortgage...an investment in your future.

You said that you will be earning more $ and that is great. I don't think you're in danger of squashing your dream. You may have less time for your art in the beginning if you need to work more in order to pay bills or if you choose to pay down your student loans, but the extra income should as you said, over time, allow you to work less and free up more time for your art. I think you did a great thing. Unfortunately, nothing comes easy!!

Good luck to you.

**elohimrules** · 08-30-2007, 05:10 PM

I am fortunate in that I was able to consolodate 35k of my loans at 4.2% fixed. The rest I can not consolidate until after I am all finished with clinicals etc. because of the new laws. The rest are at 6% fixed. I feel fortunate that I was able to get the first chunk in at 4.2%. I am not good at figuring out how much my final monthly school payment will be. I am guessing around 6 or 700 per month. I also feel I did the right thing, it is just always nerve racking as I have never had debt before and I dont feel comfortable with debt, even education debt. But, I do think I have made some smart moves! Wish me luck

**claimsgirl66** · 08-30-2007, 08:12 PM

Welcome to another Mainer!

**sdrjeolsen** · 08-30-2007, 09:00 PM

Hi and welcome!

**Mom23boys** · 08-30-2007, 09:59 PM

Hello and welcome to the Village.

**autumnlynn** · 08-31-2007, 03:54 AM

Hi and welcome to the Village!!

**pqb57** · 08-31-2007, 05:40 AM

Hi, welcome to the village.

**DixieJ** · 08-31-2007, 07:30 AM

Hello and welcome to the Village!

Dixie Jean

**pip** · 08-31-2007, 09:36 AM

I'm just curious as to what you studied and what kind of job you can get with your degree....does it relate to your passion for art or does it pay the bills so you can do your art? My dd loves art, but not sure of what she'll do to make a living with it.

**elohimrules** · 08-31-2007, 11:24 AM

Hi Sandy- My job will be in healthcare. I have always done these jobs to support my art but this is just a higher level which will pay a lot more. So, I can use my creativity in this field but it is not directly related to art. My undergrad is in art though. I am thinking lately that my ideal would be to work only 25 hrs a week and be very frugal so I can support that and do my art the rest of the week!