Can Apply For A Student Loan Of $1 200

I make $60k/yr (Dallas) but have $1200/mo student loan payments. Is it a bad idea to move out of my parent's house?

Personally, I'd put every penny I could into paying off that loan until it's paid. Then I'd move out. But that's me.  That said, here's my advice: put money aside for a moment and ask yourself: What are you missing out on by living at home? If the answer is "not much," stay put and get yourself on a fast track to eliminate that debt. If you truly believe you're not growing as a person and growing toward independence because you still live at home, I'd look at options for addressing that.  Those might include: a low cost housing situation, like with roommates, or perhaps a renting from a family friend who has a garage apartment. Or maybe you could have a conversation with your parents about how to increase your independence but still stay in their house.  Say they track your comings and goings more than you'd like; ask them to ease off and in return, you offer to pay a bit of rent or start preparing your own meals.  Anything that makes you feel less like a "kid" living at home and more like an adult living on equal terms with your parents.   Don't move out just for some vague notion that you "shouldn't" live at home. Remember that there are many cultures where people live at home with their parents until they marry, even if that's well into their early 30s.  There's no shame in that.  BUT -- staying at home, enjoying all the advantages and never pitching in with chores or expenses, and letting mommy do your laundry and daddy do all the lawn work without your help -- that's a recipe for delaying maturity and responsibility.

Is it worth it to study abroad with a debt loan of 200K?

You are asking whether it is worth it to study abroad with a debt loan of 200k?I can see that there are three parts to your question:To studyTo go abroad200kIt is great to continue studying. All of us should be lifelong learners.To go abroad is a great opportunity to broaden your world view, see more things, meet more people, and sharpen your street smartness.To spend 200k on studies must be viewed in the context of your family’s net worth. If your family’s net worth is 200k and you want to spend 200k on your studies, this is a 100% risk. But if your family’s net worth is $1 million, this is a 10% risk, If your family’s net worth is $1 billion, 200k is a drop in the bucket.Even though I may discuss the answer in the foregoing way, I personally would view it from the point of view of inculcating a habit that will serve you in all areas of life. This habit is to be street smart no better how rich or poor your family is.In other words, even if you come from a rich family, you would not allow yourself to be careless on spending any sum of money. One way is to lay a few scenarios on the table and see which one yields the highest rate of return on investment of your effort, time and money.Usually a work-study kills several birds with one stone. You get to study abroad and most of your fees are paid for by you working alongside your studies.If you come from a wealthy family, you’ll show your family leader that you are street smart enough to be a worthy successor. If I were you, my conversation with, say, my dad would go something like this:Dad, did you previously say that you do have an education fund for me to study abroad?Yes. What is in your devious mind?I want to be as street smart as possible. Would you allow me to do what I want with this 200k so long as I come back with a degree and a MBA within five years?Now what do you have in mind?Dad, what about killing several birds with one stone?Please explain.I will try not to touch this amount at the beginning because I’m searching for the best work-study program abroad. And then I will consult you on how best to use the 200k. What do you think, Dad?Seems that you want to be smart and responsible. Sounds good, for the time being.

Mark Cuban says only morons start a business off of a loan. Does this same principle apply to people going to school off of a loan?

I met a kid with $200k in student loan debt once. He was an economics major. I told him he should ask for a refund...Like anything else, you have to do the math and determine if the end justifies the means. The reality is that for most degrees, the answer is no.There's been a shift in the value of college in recent years - one which I've been reluctant to acknowledge, especially as a father of three, but the reality is that (1) Recent college graduates are currently experiencing the highest unemployment rates of any group, and (2) The ones who do manage to find employment aren't making much more than their colleagues who have lesser (or no) degrees.Many years ago, attending college was somewhat exclusive - you either had to have excellent grades for acceptance, or you had to have significant cash available to buy your way in. Today that's no longer the case... clever financing and loan deferments have made absorbing the cost of getting a college education easier to swallow, and as a result, more people are graduating than ever.Like all things, the more there is of something, the less valuable it is, and we're starting to see that with degrees. Simply having one used to open doors, guarantee a good paying job, and was a good indicator you're versed in the material you need to know for the job. Today, outside of a handful of sectors, it no longer does any of those things.Let's take a classic marketing degree, for example. Who do you think brings more value to an employer today? A person with a marketing degree they earned ten years ago (or ten months ago), or a 22 year old who's a self-taught expert at driving traffic, engaging consumers, managing marketing campaigns, building sales funnels, and knows how to read and understand the specific analytical tools your company uses?Showing me what you've done is more valuable than showing me what a piece of paper says you understand. So you have to ask yourself, does the benefit of the degree you want outweigh the cost of getting it? Many still do - but many more do not. And while you're sitting in class, the kid that's out there doing it will be light years ahead of you in experience by the time you hit the pavement looking for work.

Is it possible to live off $1200 a month in St. Louis MO (that is after taxes so take home)?

Based on what I pay now for a 2 bedroom apartment in the central west end area of STL and with my utilities, car loan, bills, recreation activity etc…..I would find it very hard to live off of $1200 a month if not near impossible. Now my situation is not everyone’s nor yours so looking at a more general and minimalist cost of living I would paint this picture for you.Rent for small 1 bed/bath apartment/flat in low cost neighborhood = $550/monthUtilities = $40/monthGas/Electric/Trash/Sewer = $70/monthFood/Grocery (no eating out) couponing, discount store shopping: $160 monthTransit via your own car: $30–40 week gas (I do not know metro transit costs myself)No cable, netflix. Just in home wifi and cell phone bill: $100–150/monthAssuming no student loans or car loans.Assuming minimal cost for recreational activity or no cost activityI get $1010 of base expenses you need to pay per month minimum. That leaves you at best $190 for other things which is not much at all. Retirement, savings, FSA, medical costs out of pocket, flat tire, car repair etc….A full month is a long time to go on just $190 of buffer in my opinion.