How to handle massive debt while still in school
Massive accumulated debt combined with unexpected expenses and a low, fluctuating income leaves students stranded without knowing whether to save or pay down balances. This financial overwhelm leads to paralyzing confusion and shame, stopping them from seeing a clear path forward or asking for help.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
- 1Cutting expenses to the bare minimumDid this help you?
- 2Working extra shifts or overtime when schedule permitsDid this help you?
- 3Focusing on saving and covering minimums rather than aggressive repayment while in schoolDid this help you?
- 4selling personal itemsDid this help you?
- 5limiting food expenses to the minimumDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“I have made many terrible financial decisions in the past 8 years. I’m in debt 40k soon to be more from school. Consisting of collections, a repo and charged off credit cards.”source ↗
“Should I just save? Or should I start trying to pay something off?”source ↗
Where this came up
People with this problem also raised
- 3How to handle sudden unexpected debt and a drained emergency fund
- 6Should I use my savings to pay off my partner's student loans?
- 2How to handle $73k in student and credit card debt at 21
- 11How to pay urgent bills and debt when unemployed
- 6How to pay off massive business EIDL and credit card debt
- 4How to plan for retirement when you're living in the red and have debt