Can you defer student loans to start a company?

#1

Post by rcs » Mon, Oct 29, 2007, 2:13 AM UTC

I'm $150,000 in student load debt and desperately want to leave my soul crushing 9-6 coding job. Can you defer student loans to start a company?

Re: Can you defer student loans to start a company?

#2

Post by chaostheory » Mon, Oct 29, 2007, 2:55 AM UTC

what's your interest rate? if you can get a good interest rate and have it locked, then why not?

right now my 30k loan is locked at 2.86% - it's lower than inflation (I think)

Re: Can you defer student loans to start a company?

#3

Post by trekker7 » Mon, Oct 29, 2007, 2:59 AM UTC

I guess if you do, be careful, because if the startup doesn't work out you'll be even more in debt.

Re: Can you defer student loans to start a company?

#4

Post by mattmaroon » Mon, Oct 29, 2007, 3:03 AM UTC

Yes, you can.

Re: Can you defer student loans to start a company?

#5

Post by mrtron » Mon, Oct 29, 2007, 3:24 AM UTC

chaostheory wrote: post #2

what's your interest rate? if you can get a good interest rate and have it locked, then why not? right now my 30k loan is locked at 2.86% - it's lower than inflation (I think)

Plus the interest on student loans is usually tax deductible.

Re: Can you defer student loans to start a company?

#6

Post by inklesspen » Mon, Oct 29, 2007, 3:30 AM UTC

chaostheory wrote: post #2

what's your interest rate? if you can get a good interest rate and have it locked, then why not? right now my 30k loan is locked at 2.86% - it's lower than inflation (I think)

How the heck did you get it locked at such a low rate?

Re: Can you defer student loans to start a company?

#7

Post by rms » Mon, Oct 29, 2007, 3:30 AM UTC

chaostheory wrote: post #2

what's your interest rate? if you can get a good interest rate and have it locked, then why not? right now my 30k loan is locked at 2.86% - it's lower than inflation (I think)

The back of the Economist says yearly inflation is 12% and it's 40% for food.

Re: Can you defer student loans to start a company?

#8

Post by inklesspen » Mon, Oct 29, 2007, 3:30 AM UTC

Wow, how did you get that far in debt? Law or medical school?

Re: Can you defer student loans to start a company?

#9

Post by PStamatiou » Mon, Oct 29, 2007, 3:44 AM UTC

inklesspen wrote: post #8

Wow, how did you get that far in debt? Law or medical school?

sounds about right for a decent university..$40k * 4-5 years

Re: Can you defer student loans to start a company?

#10

Post by chaostheory » Mon, Oct 29, 2007, 3:53 AM UTC

inklesspen wrote: post #6

chaostheory wrote: post #2

what's your interest rate? if you can get a good interest rate and have it locked, then why not? right now my 30k loan is locked at 2.86% - it's lower than inflation (I think)

How the heck did you get it locked at such a low rate?

lets just say the dotbomb helped a lot... so if we do have another bubble - there will be always be a bright side