Should I move out?

Question

I’m 23 and have been with my boyfriend for 2 years. My only issue is student loans, I have to pay like 900 a month. Plus I still have to go to grad school in the future kind of soon. Me and my boyfriend have been long distance for a year since college ended and it has been hard on our relationship and I’m not sure how much longer we can be long distance before we feel too distant since we can only see each other once a month rn. 
My parents don’t think it’s a good idea but I really don’t feel happy living at home anymore. We have been trying to move out for the past year but I always get worried everytime it comes to doing it bc of money. My boyfriend has a full time job, he’s 26 but I would need to help too. Do you think I should just go for it? I feel like I can try to make enough money to support myself I have a lot of money saved up but it’s just going to be hard paying 900 a month plus rent.

Answer

$900 a month is a LOT for student loans, especially if it’s just an undergrad degree. I would focus on paying that off ASAP. When you rent, it’s not just rent to pay. It’s water, electric, your own groceries, rental insurance, etc. If your parents are offering for you to stay at home so you can focus on paying off debt, even if you don’t want to, it sounds like a great idea. I get wanting to be close to your boyfriend and missing someone when you’re in a LDR, but you also don’t want $900 in student loans plus other monthly expenses hanging over your head each month, even if you and him are paying for it all together. 
I think this also depends on where he lives. How much is rent? How much does he usually spend on water and electric (both of which will go up if two people are living there instead of one)? Where would you work, and how much is a reasonable salary to expect? Could you live on that salary by yourself and still be ok?  These are important questions to consider.

Answer

Call whoever you have a student loan through and have them adjust your payments. I did and I went from $50/month to $4/month. So, even if you could knock a couple hundred off of that. It would help tremendously. Good luck!

Answer

You could get put on an income based plan. 900 is a lot to spend on loans.

Answer

I would first go to your loan provider and see if you can adjust the payments, that is crazy high! Also, when you’re in school (so when you’re off to graduate school) you can get a delay on having to pay those loans. You just have to have proof of enrollment and follow-up periodically. So I’d really look into these options before deciding

Answer

I'd be refinancing those loans for starters. Look into Sofi. That's a ridiculous amount for someone who is still in school. Wait to see if you can get them refinanced before making any decisions on moving out.

Should I move out?

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