Just curious.

[smartguy941]

<p>Hey everyone. Lately, I've just started to get a little anxious about my debt. However, after reading horror stories and success stories online, I think I am in good shape. </p>

<p>I just graduated with a Bachelor's in IT in May 2013. Now, I am in a Master's program for Digital Forensics. To date, I have $26,000 in debt...by the time I complete my graduate degree, I will have around $36,000 in debt. </p>

<p>Looking at the fields that I will have my degrees in, is this a considerable amount of debt? Also, isn't there some type of rule that rids student loan debt if you work for the government??</p>

<p>Any info is greatly appreciate,</p>

<p>Smart Guy</p>

[4kidsdad]

<p>If you confident that your starting salary will be more than $36,000, you should be ok with that much of student debt. See [How</a> to Minimize Student Loan Debt - Fastweb](<a href=“http://www.fastweb.com/financial-aid/articles/3092-how-to-minimize-student-loan-debt]How”>http://www.fastweb.com/financial-aid/articles/3092-how-to-minimize-student-loan-debt)

A good rule of thumb is that your total education debt for your entire college education should be less than your expected starting salary after you graduate. Ideally your student loan debt should be less than half your expected starting salary. Other signs of over-borrowing include borrowing more than $10,000 for each year in school or needing to borrow private student loans.

See [Income-Based</a> Plan | Federal Student Aid](<a href=“http://studentaid.ed.gov/repay-loans/understand/plans/income-based]Income-Based”>http://studentaid.ed.gov/repay-loans/understand/plans/income-based)

10-year public service loan forgiveness—If, while you are employed full-time for a public service organization, you make 120 on-time, full monthly payments under IBR (or certain other repayment plans) you may be eligible to receive forgiveness of the remaining balance of your Direct Loans through the Public Service Loan Forgiveness Program.

</p>

[OperaDad]

<p>$26,000 of debt is a sunk cost. Sunk costs are irrelevant. You owe that regardless of what you do.</p>

<p>So, the question is: Will $10k in loans get you a job that pays $10k/yr more (assumes that you should not borrow more than 1st year salary). I have no idea of the demand for Digital Forensics vs other IT fields open to you.</p>

[smartguy941]

<p>Ok, that sounds reasonable. I’ve been looking up salaries for people with my degree and the average salaries are more the reasonable. Many entry level jobs related for IT and/or forensics have $50,000+ salaries. So, if I play my card right while in school, I should be in good shape to afford my repayments with no issues. Thanks for the info.</p>

[smartguy941]

<p>Sunk costs??..I never thought about it like that.</p>

[Erin_s_Dad]

<p>Make sure you take advantage of any job placement services your college offers. Do your best to network so people/companies will think of YOU when a job comes open.</p>

[smartguy941]

<p>Yes! That is something that I definitely plan on doing. I definitely would like to get more involved this year. Good info, thanks guys.</p>