How can I increase income to pay student loan debt?
December 22, 2013 7:26 PM Subscribe
I have $85k in student loan debt, and need to increase my income so I can pay it off. I need a bigger spoon to eat this elephant. Fishing for ideas.
posted by mannermode to Work & Money (13 answers total) 6 users marked this as a favorite
My degree is in Audio Engineering (I know, I know), but I've pretty much given up on that dream because I wasn't making much money. I have drastically reduced my expenses and moved back in with my parents. I'm throwing everything I have at the debt, and really need to increase my income.
I have $85k in student loan debt:
* $55,000 to private lender
* $21,000 in Federal Stafford loans
* $8,500 to a no-interest loan from family
Currently working in transportation/logistics for $15/hour, but they let me work all the overtime I can handle plus they cover my medical insurance. I hate the place but am trying to grin and bear it, for lack of any clear options. The company is floundering and have already cut pay for contractors/independent employees. I fear they will close my branch and I will be left without any skills that could command a better salary. I'm trying to learn as much as I can there, but they aren't exactly providing good examples of success.
* Audio Post Production (B.A., internships, indie film production, assistant engineering)
* Transportation (freight forwarding, truck dispatch, warehouse)
* Customer Service (hospitality, call centers, retail)
* Cross-cultural communication (Taught English in Japan on JET, JLPT N3)
Career books always bring me back to the same place - I already chased my dream and that's what got me in this mess! I would love to do something interesting and fulfilling, but my top priority is getting rid of this debt. I don't want to go take on more debt to go back to school, but am not opposed to getting some sort of certification online or at community college.
* Supply Chain Management certification?
* I.T. / programming?
* Learn a trade?
tl;dr How can I increase my income so I can pay down my huge student loan debt?