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I'm so sorry you fell into this debt trap. At this point you can't afford to play around with a startup. Most likely the startup will flop while the 10% intere

• smeej 3y ago
  Second "yesterday." How is OP so casual about this? $300k at 10% interest is crippling for a new grad, especially a slightly older one. Just the interest is $30k a year. Every year! Just to tread water! This is a debt emergency of staggering proportions. If you're a junior, you should already have marketable skills. You need to start earning something ASAP, even if it's applying to every scholarship under the sun. I don't know why/how you're taking for granted that you'll even be hirable in a big tech company right out of school, especially making enough to cover an extra $30k+ in loan payments every year.
  • brettv2 3y ago
    The interest depends on the loan terms, right? 300k over 30 years is ~21k in interest per year. Over 10 years its ~17.5k a year. But yeah, that's a lot. I'm curious how one racks up $300k at a state school. I just checked a few state schools in New York and their out of state tuition is ~7k a year? $300k is enough to have gotten a degree from the most expensive private school in the US (Harvey Mudd). But to answer the OP: absolutely do not start a company. Get a job and pay your loans off.