How to relax post-uni without feeling the impending doom of my student loan.

[443098/]

Midway next year I am set to finish study, conjoint LLB/BA. I studied away from home (I could not live there a second longer) and got some scholarships but I've paid for most of my uni via my student loan.

I used to be smart (I think) but when I was at the end of 2021 I had a traumatic experience that lead me to develop PTSD. I think this is relevant cause I did shite at uni (IMO, shite for law. My BA papers were fine) for the last two years because I was unwell.



Now I am better but I am feeling like I've already ruined everything. I have a casual legal writing consultancy job but so far just focusing on studies- though I should get a job (if I could get one). I also do volunteering and extracurriculars but I worry that my past grades will mean most employers will just write me off.



As I was saying, next year I finish uni and I want to leave NZ for a bit. I was thinking of Melbourne because my boyfriend would like to go too and I have family there to support me (although I don't think I'd live with them). I wouldn't stay long, but we were thinking maybe Canada after because he is a citizen.



I am really worried about the money situation especially considering after 6 months my interest on student loan will begin to build. I'm also worried about getting a job because of my previous grades, because in law there is always someone better than you (and there is always someone who's getting in via nepotism). I can't stay here any longer, living in my city is making me more depressed.



Not sure if this is the right subreddit, but I'm not sure what to do.

 

[davekind77]

@443098/ So I've done a couple of degrees, diplomas etc (changed careers in my late 20s), and at no point has a hiring manager asked me for a transcript of my uni papers.
Once you get your degree(s) that piece of thick paper is all you need. There may be post grads or the odd specialist job that asks for a transcript to prove you've done some pre-req paper but otherwise no one cares!!
Please have some confidence and faith in yourself and your abilities.
As for student loans - they are a burden, and they do seem to take a long time to pay. If you're looking to go overseas, and the interest will apply then try to pay some off before you go if you're able. Or at least ensure you pay as much as you can in the 6 months prior to the interest kicking in.

 

[daveo]

@davekind77 In law, you absolutely get asked for an academic transcript. But there are lots of not directly legal job options that won’t ask for it.

 

[rinkevichjm]

@443098/ Just paid mine off, I’m still just as stressed about money. Don’t worry be happy.

 

[vette]

@443098/ Your grades really don’t matter as much as uni tries to make you think. Yes some law firms may be more strict on wanting a certain gpa, but a lot of them just want smart but well rounded candidates. So your volunteer work and extracurriculars are great! Plus your work experience makes you a great candidate. Do the best you can over the next year, but also know that employers look for someone who is a good fit for them. That comes down to a lot more things than grades. I’m in the process of applying to graduate roles as someone with a pretty mid gpa, I’ve had about 4 job interviews all moving into the next round and not one interviewer has asked me about my gpa. In fact, two of them have asked “is there anything in your university journey that’s been hard for you to overcome?” Employers love a story that shows resilience and determination, which you clearly have. So if your grades were ever to come up in an interview you can definitely explain that you went through something that prohibited you from doing as well as you can but from that situation you gained perseverance and didn’t give up.

As far as your student loan goes, don’t stress. A lot of people have student loans and a lot of people pay them off. You chose a good degree that has great potential earnings. You will be making a lot of money in the future. If a place makes you depressed, leave it. No amount of saving money should keep you somewhere where you’re not content. A lot of people leave nz with a student loan because of job opportunities, better pay, and better living conditions. I want to do the same thing. Don’t let your student loan hold you back if you’re unhappy

 

[childoflight555]

@443098/ If you get a job as a lawyer, no matter the firm or town, within 1-2 years as long as you’ve done a good job your grades won’t matter and references will. You forget that you will also have people in your class who haven’t done as well as you have.
Once you’re overseas and have a job you start paying back your loan at whatever their minimum is adding more as can. You will pay it off eventually

 

[mia28]

@443098/ Other people have already addressed your worries about grades, but thought I'd just pipe up because I just had a chat with my uni about leaving the country for an extended period with student loans. So I hear it, as long as you stay in contact with your student loan provider and show you are willing and able to continue paying off your student loan, they are more than happy to make a plan that allows you to do so with minimal interest. Make some calls dude, be a nuisance until you get a plan sorted that you like and you'll be in the clear

 

[theeddyswimmer]

@443098/ I’ve hired a decent number of people, and never once did I ask to see grades.

 

[thewonderer]

@443098/ If you have already lost, then you have already lost. You won't get everything you want in life, I don't, I have had a lot of trauma, however but I live a good life. So can you.

 

[waynemorss]

@443098/ Excuse my ignorance, I thought student loans were interest free in NZ?

 

[443098/]

@waynemorss sorry I should’ve clarified- if you’ve left the country for more than 6 months they add interest

 

[waynemorss]

@443098/ I see,

I just checked and supposedly the interest is 2.9% per annum. On a $100K loan that’s only $2.9K per year.

Unless you’re currently living with your parents in NZ I’d honestly assume your living expenses and pay in Melbourne would make up for more than the interest compared to a job in NZ. Food for thought!

Sounds like after a long slog at uni you could use a change of pace/scenery. Law is a hard degree and the culture of the students is often “all work, no play”. Maybe an experience in a new place could be reenergising for you. All the best!

 

[443098/]

@waynemorss That’s really helpful, thanks! Really puts it into perspective, I’ve never been too good at understanding money/finance stuff

 

[waynemorss]

@443098/ No worries, all the best

 

[jeremiahk]

@443098/ Grades don't matter in the long run. Find a way to translate your challenges you've overcome into corporate speak. Your volunteering shows you value working towards goals with others, your PTSD shows you have the ability to manage your own diary to account of unexpected interruptions...... It's how you explain your skills that matters. All of these things you have mentioned, they're transferrable skills.

 

[liberatedbyhim]

@443098/ Stay in NZ, pay the student loan off as slowly as possible and let inflation take care of the loan. In 20 years, your 100k student loan will seem very small when the average salary in nz in 1M.

 

[essentiallyme]

@443098/ Just read up on stories of what student debt is like for Americans and then you'll feel all of your problems are manageable. You're at 0% interest until you leave, then it's only 2.9%, which honestly, is lower than inflation. Don't worry about it. Americans have on average 10x more debt and it's at 5% to 10%, and they get no get out of jail free card in 0% if they stay local. It might feel like you're burdened, but you've got it better than anybody in any other english speaking country. Canadian and Australians who stayed locally have much higher debt at much higher interest rates than kiwis...

If the debt stresses you out, then get a job and live as cheaply as possible and focus on paying them off. But also know nobody who you ever mention your debt to overseas will have sympathy for your, in comparison, almost non-existent student debt.

 

[faith_023]

@443098/ It's interest free at least.

 

[mark1]

@faith_023 Until they leave NZ, then it starts accruing interest.

 

[beachcire]

@443098/ Law just is stupid (I don’t want to say hard, because I wouldn’t call the people who got those A+s in law geniuses, it’s just a very elite/exclusive way of reading/writing/intepreting literally designed for the average layperson to require a lawyer for very basic legal rights). I wouldn’t link those grades with your intellectual abilities at all , especially since you’re fine in your other papers.

Saying this as someone who was in your position. I didn’t end up in law, never really planned to once my other degree turned out to be fun and a money maker. I would actually drop the law if you’ve decided the same, my student loan would probs be so close to being paid off now within 3 years without the LLB degree I’ll never use. Just my own two cents based off my own regrets