It took me 15yrs to pay off 135k in college loan DEBT! NEVER AGAIN

Are you currently making a ridiculous college loan payment every month? $400, $500, $700. I hear you. For the past 15yrs I’ve been paying nearly $700 a month in college loan debt and finally with the sale of my mom’s home in Maine we were able to make the last payment this month on a $135,000, it’s been crippling.

Look, I go back and forth about this post. Part of me is EXTREMELY grateful for the education I received at Mount Holyoke College. Being in an all women environment was empowering, motivating, and eye opening. I’ve landed good six figure jobs on multiple occasions, so in that regard the college degree probably helped in a MAJOR way. Who knows where I would be today without Mt. Holyoke. Mount Holyoke exposed me to so much. I lived abroad for a year in Galway, Ireland with 4 Irish girls, my first roommate at MHC was African American (In my high school there was only one African American student so this was HUGE for me), and I was exposed to women from all socio-economic and cultural backgrounds. These gifts have helped make me who I am today.

The bad news!? I’ve never once been asked to show my resume 🙁 That’s right, 135k in college debt and I’ve never landed a job by my resume, don’t tell my mom or Mount Holyoke. I have to say I’m not sure I would do it again. Currently, I’m working to become an entrepreneur and now I think about what that $700 could have done for me every month? Where would I be if I invested that, took risks with that? The problem is so many of us want to live in cities where cost of living is insane. So on top of a monster college loan payment we have rent, car, kids, living life. It feels like we’re drowning.

Clearly, if you want to be a doctor you need a college degree but the more I go along in life it just kills me how much college loan debt holds us back. If it wasn’t for my mom’s help at the end I don’t know where I’d be with this. What I can say is, as much as I love Mount Holyoke, I’m not sure I could justify spending 45k a year college again unless my parents were rich or I won the lottery. I’ve known since I was 8 I wanted to be a talk show host…the Univ. of Hollywood Blvd. would have been fine.

I feel your pain. Do you think large college loan debt is worth it? Leave me a comment below.

Xoxo, Frase


Response (6)
  1. Enrique

    Hey Frase! Just wanted to say that. College loans are a hassle and crippling when budgeting other life matters. In regards to your question, it really depends on your degree and intended career path. I was fortunate to leave undergrad without any loans or debt and this is simply because California had generous grants and being under the poverty line allowed me to receive Pell Grants. However, earning my MA last year did put me in debt with students loans. They are not fun, but in the end for me, the degree is worth it,. Unlike you, my resume with the credentials allowed me to earn a job with a much higher pay than I was previously making a year. I will hopefully be able to pay my loans off within 5 years or less. However, students should realize that if at all possible, do gradate assistantships to help cover your tuition in graduate school. Undergrads should look for scholarships and others types of institutional, federal, and state aid to help bring down the price. It would be great if we could have a free or cost friendly system like France or follow UPenn’s example of aid if admitted.

  2. jimmie

    I hate the fact that I am paying for a huge student debt loan. My degree has done nothing for me as far as getting a job. If I had to do it all over again I would have went to a trade school or just get IT certifications. The worst part is that my college went out of business and I still have to pay my student debt.

  3. Jessica Wooten

    Yes!!!! College debt is ridiculous. I went to college and paid out of pocket because my parents were sweet like that. Then i realized college wasnt for me and i left community college and went to trade school. I took out a loan for my education there and it was ridiculos. Again my parents paid it off because at the time they both were working and could afford it. In hindsight i feel like i could have saved my parents a ton of money and they could be living it up in a down sized home on the eastern shore. Instead they are living off retirement and unable to move because of the sacrifices they made for my brother and I to get a “degree”. Ironically, niether of us have one lol. Over the course of my 31 years on earth, i feel college is a scare tatic placed on socieities young people as well as elders. Its a way to make money or shall say “steal” from the innocent to fuel the rich prestegious college steak holders. Yes. In some cases a degree is needed. But as for me, I am an entrepenuer still trying to find my niche. The best education I have ever recieved… was from life and self study. I have a certification, working on another, and numerous amounts of talents and gifts in the arts and technology. One does not need a degree to be sucessful. All you need is great networking skills, the ability to get experience anywhere you can: ie. Volunteering or helping family. Also, a basic resume in some cases, great reasearh, a class or training, and get out there and market yourself everywhere! I currently am a scientist for the feds without a degree! Thats insane right? So in retrospect college debt can eat rocks and drink a can of sand. Because i dont need it! And neither do my parents! Just believe in yourself and invest in you! And then there will be freedom, liberty, and dreams unheard of. Dont limit yourself to a system that will prevent your place in the hall of fame. We are all stars. The sky is not the limit. There is no such thing. “Perception can perpell or hold you capitive. The choice is always ours”-Jessica W.

  4. Jessica Wooten

    2 saddlebrook ct


    Great points. I also think far too many parents/kids get so caught up in the college admissions “game” that they never consider attending community college for the first two years of college. We have some excellent community colleges in the metro area that routinely transfer kids to excellent 4-year universities (a good friend of mine transferred last year after earning his associate’s degree at MC Rockville to an Ivy League school – Columbia). You don’t need to join the racket of stressing your kids to apply to multiple schools, pad up on unnecessary and often very expensive extracurriculars (ecotourism to Borneo!), hassling everyone for letters of recommendation, making ridiculous video portfolios of how great you are, taking (and retaking) the SAT, just so you can show on social media the college acceptance letter you got. It’s entirely not worth it.

  6. Mike

    What would have happened if you didn’t end up on TV or radio? Your resume would have helped in that respect, since nearly every job out there requires one. I don’t think you attending college was a waste, as it gave you time to grow and gain independence. I am glad you paid off you debt, regardless how long it took.

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