I am supposed to be studying for finals but seriously thinking about dropping out of college and wondering if this is all worth it. I am posting on this forum before I bring this up to my friends or parents because I respect people's opinions on here and the entrepreneur mindset everyone has. Any advice would be great
So here's my situation... I am 22 years old and I am losing motivation in school. I have always wanted to run my own business and even before reading TMF I did not want to be stuck in the corporate rut. But somehow I find myself being school for 5 years and I am on pace to graduate in spring 2016. In the process, I have accumulated about 25k in student loans :/ By the time I graduate I will be $30,000 in debt. I was 17/18 and parents always had the typical "go to college, graduate, then get a good job" mindset. When you're young and not thinking about your future financial situation, you tend to do irrational things like taking out loans. I thought I was too good for community college and went straight to a 4 year.
I have just skated by college most of the time. In my first semester, I got dean's list but my current GPA is at 2.85, mainly due to a lack of interest in the college system. In the accounting world, there's no hope to be looked at by the Big 4 unless you have a 3.0 GPA or higher. I could graduate, work my a$$ off, get an internship and work for a regional firm making 35K-40K but after that there is limited growth in the salary. I could live frugally and pay off the 30,000 in about 18-24 months living at home. I honestly do not even like accounting, it is dry but people always talked about the job growth and the great starting salary so I went with it.
Currently my only source of income is a part time job working retail, making about 900 a month. I have barely been getting by with this living with roommates. I am planning on moving back with my parents at the end of the month to save money. I have sales skills and know how to talk to people but I have not owned a business before.
My problem is that I do not have a business that is making income or any business ideas. I Want to run a business, I know I have the drive but now I am realizing it might be too late to drop out with all of my loans. If I drop out I will be in debt with nothing to show for it, no degree, nothing.
So should I finish college, graduate with mediocre GPA, find a 30K-40K job and pay off loans within 18-24 months? or dropout with limited income and no income coming from a business?
At this point, I don't care what people think.. if my parents approve of me dropping out or not. I just want to do whatever it takes to get rich, get out of debt, and live a lifestyle I want to live.
cliff notes: accounting major with lack of interest in the field
doesnt want to be stuck in a 9-5 job
$25,000 in student loans
1 year left
So here's my situation... I am 22 years old and I am losing motivation in school. I have always wanted to run my own business and even before reading TMF I did not want to be stuck in the corporate rut. But somehow I find myself being school for 5 years and I am on pace to graduate in spring 2016. In the process, I have accumulated about 25k in student loans :/ By the time I graduate I will be $30,000 in debt. I was 17/18 and parents always had the typical "go to college, graduate, then get a good job" mindset. When you're young and not thinking about your future financial situation, you tend to do irrational things like taking out loans. I thought I was too good for community college and went straight to a 4 year.
I have just skated by college most of the time. In my first semester, I got dean's list but my current GPA is at 2.85, mainly due to a lack of interest in the college system. In the accounting world, there's no hope to be looked at by the Big 4 unless you have a 3.0 GPA or higher. I could graduate, work my a$$ off, get an internship and work for a regional firm making 35K-40K but after that there is limited growth in the salary. I could live frugally and pay off the 30,000 in about 18-24 months living at home. I honestly do not even like accounting, it is dry but people always talked about the job growth and the great starting salary so I went with it.
Currently my only source of income is a part time job working retail, making about 900 a month. I have barely been getting by with this living with roommates. I am planning on moving back with my parents at the end of the month to save money. I have sales skills and know how to talk to people but I have not owned a business before.
My problem is that I do not have a business that is making income or any business ideas. I Want to run a business, I know I have the drive but now I am realizing it might be too late to drop out with all of my loans. If I drop out I will be in debt with nothing to show for it, no degree, nothing.
So should I finish college, graduate with mediocre GPA, find a 30K-40K job and pay off loans within 18-24 months? or dropout with limited income and no income coming from a business?
At this point, I don't care what people think.. if my parents approve of me dropping out or not. I just want to do whatever it takes to get rich, get out of debt, and live a lifestyle I want to live.
cliff notes: accounting major with lack of interest in the field
doesnt want to be stuck in a 9-5 job
$25,000 in student loans
1 year left
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