Student Loans - Can you live the van life with them?

[sammyjphotography]

Hey everyone! 

This is my first post on this site. I want to join the van life. I live at home with my parents and don't travel as much as I'd like to. My whole life I've dreamed of having a van and travelling the country with it. My concern is that I went to college, and am now a debt slave. I pay at least $380 a month to pay off my loans in ten years. I can lower the payment, but then it will take me longer to pay them off. Does anyone live the van life and have student loan debt? If so, any advice?

Thanks  :shy:

 

[John61CT]

Use the van to travel to a very "hot" urban area and then live there making lots of money, maybe even using the skills you borrowed for.

Not having to pay $3000+ per month rent, you should be able to pay your loans off much more quickly than your co-workers.

Focus on that more than having fun, eating out etc for a few years and soon you'll have more freedom.

Don't have kids anytime soon.

 

[sammyjphotography]

Thank you John! This is super helpful. And considering I wasn't planning on having kids I think I'll be alright

Thanks again!

 

[John61CT]

Most (like 90% imo) kids are actually unplanned, somehow they just happen. Unless you take full responibility yourself for making 100% *sure*

I was on my third crop before getting my tubes tied. . .

 

[mpruet]

It's hard to do much of anything as long as you are a slave to debt.  I'd focus on getting rid of all of my debt before I made any other plans.  While living in a can be fairly inexpensive, it can also cost a bit to set up.  And if you are not living in a location where you can easily park your van for free, it can cost a bit just to park it. 

You didn't say how much your debt was, how much you were earning, or what your skill set was.  But in any case I'd focus on paying down the debt first.  If you need a car to get to work, then I'd get a beater car.  If you could continue to live at home untill your debt is paid off, I'd do that.  There are some jobs which are truly nomadic, but most of those require technical skills and a reputation which you may or may not have.

 

[John61CT]

Unless the 'rents live in one of the 15-20 top employment hotspots, getting your vandwelling act together and starting to earn there will pay off big time.

Heck just setting up a hustling one-man cleaning service will gross $30-40 an hour, but not out in the sticks, not to mention high-income density is key to getting the dance cards all lined up in the same neighborhoods.

Anyplace people are paying $3000 a month for a small rental apt, earnings will be much higher than where people can get by on that as gross income.

By cutting out 80-90% of housing costs and putting those savings straight into paying down the loan, it'll be as quick as possible, maybe even just 2-3 years.

Stay comfy with Mom & Dad, lucky if it's gone in ten.

 

[frater secessus]

Student loan debt isn't special in vandwelling scenarios. Treat it like any other.

Hobo Ahle on YT has talked about paying her loans while on the road. Can't remember any others.

I agree with others that van living can reduce your expenses so much you can accelerate those payments if appropriate.

 

[sammyjphotography]

It's hard to do much of anything as long as you are a slave to debt.  I'd focus on getting rid of all of my debt before I made any other plans.  While living in a can be fairly inexpensive, it can also cost a bit to set up.  And if you are not living in a location where you can easily park your van for free, it can cost a bit just to park it. 

You didn't say how much your debt was, how much you were earning, or what your skill set was.  But in any case I'd focus on paying down the debt first.  If you need a car to get to work, then I'd get a beater car.  If you could continue to live at home untill your debt is paid off, I'd do that.  There are some jobs which are truly nomadic, but most of those require technical skills and a reputation which you may or may not have.

I live in New Jersey, but wasn't planning to stay here with the van. I went to school for Psychology, but I have many skill sets outside of that. I am a good physical worker as well. At my current job I only make a little over $15 an hour. I want to do both. I don't want to put my dream on hold because of this debt. But I think I'd be able to find some kind of work anywhere, but of course there is never any certainty in anything.

 

[sammyjphotography]

Student loan debt isn't special in vandwelling scenarios.  Treat it like any other.  

Hobo Ahle on YT has talked about paying her loans while on the road. Can't remember any others.

I agree with others that van living can reduce your expenses so much you can accelerate those payments if appropriate.

That's what I was thinking, it's just like anything else I would have to factor in. Who is Hobo Ahle? And what is YT? I'd like to check out her story.

 

[John61CT]

YouTube, just google her. Very cute, but take the life story aspect with a grain of salt.

 

[frater secessus]

That's what I was thinking, it's just like anything else I would have to factor in. Who is Hobo Ahle? And what is YT? I'd like to check out her story.

Hobo Ahle has a youtube (yt) channel.  She has previously lived in her car and now at least part-times in a van.  Some folks crap on her channel because she is young and "adorkable", but she really has lived in vehicles, is bright, and uses language well.  Kinda like a female version of Will Prowse.  

Here's a decent intro to her stuff.  I don't think she talks about the loans in it, but you'll be able to see if you can get any value from her vids.

 

[mpruet]

I live in New Jersey, but wasn't planning to stay here with the van. I went to school for Psychology, but I have many skill sets outside of that. I am a good physical worker as well. At my current job I only make a little over $15 an hour. I want to do both. I don't want to put my dream on hold because of this debt. But I think I'd be able to find some kind of work anywhere, but of course there is never any certainty in anything.

Sometimes you have to think more long term than other times.  If you are making about $15 an hour, then you are bringing in about $32K a year.  That's not much.  Normally moving into a van will lower your expenses, but you said that you were still living with your parents.  I don't know if they are charging you room and board or not.  But if they are not, then your expenses will increase if you move into a van.  I'd really suggest that you focus on getting rid of the debt ASAP.  Maybe you could get an extra job to help attack the debt.  You'll find that you have much more freedom by not having debt payments.

 

[John61CT]

Make bank with access to Manhattan.

NJ has some very wealthy areas too.

Where The Highest Earners In America Live, Mapped - http://digg.com/2018/highest-earners-map

 

[Mizzi]

Stay with your parents, find a good paying job and concentrate on paying off your debt.

 

[jester]

Stay with your parents, get a second job, pay off your debt in three years or less and start your new life without carrying around a huge financial burden.

 

[eDJ_]

I live about 20 miles above a large University District.  In the past few years there has been some newspaper articles detailing the number of students who are living around the campus in their Vans.  In this climate they can handle it in the fall semester but not the "spring".  It doesn't really get cold until the Christmas season here and that last into April most of the time.   But the fall semester is out just before mid December.  So the trend is going to school in both summer terms and the fall semester.  (when you "can" live out of a Van)

Kids often visit the Gym to shower and shave and make friends with those kids in the Dorms where if someone is spending the night at his/her "other" they can use the spare bed if the weather is really fowl.  (or find a "friend" who is in an apartment to stay with)   Some say that there is a fascination with spending the night in a Van for those who have never had the experience. 

I recall one kid stating that he scheduled fall semester classes for three days of the week where Tuesdays, Thursdays, and weekends were spent away from campus in free camping areas.   If Campus LEO's notice the
Van is around occasionally they will figure it belongs to a student who may live at home some distance from Campus.  Thus not hassle them.   In the larger University district the City Police generally let the Campus LEO's deal with students.    I'm sure anyone could say that they have an 8 am exam and they are going to spend the night studying in the Van and be left alone.

Otherwise there are plenty of Grocery Stores that run 24/7,  Ice Vending Machines,  and city conveniences for those living out of a Van around the Universities.  But there are those students who are doing this now.  Many of them are in 2 year courses in Tech fields where they will find jobs almost immediately and have their rigs as transportation to go report to those jobs.  Even if they go on a job search, they have their rig to live out of
while on the road going to interviews.

 

[LoupGarou]

Nothing says you can stay with your parents, then park up the van and fitting it out in their driveway. What you need is your own space, a van, while unconventional will give you that.

 

[sammyjphotography]

Sometimes you have to think more long term than other times.  If you are making about $15 an hour, then you are bringing in about $32K a year.  That's not much.  Normally moving into a van will lower your expenses, but you said that you were still living with your parents.  I don't know if they are charging you room and board or not.  But if they are not, then your expenses will increase if you move into a van.  I'd really suggest that you focus on getting rid of the debt ASAP.  Maybe you could get an extra job to help attack the debt.  You'll find that you have much more freedom by not having debt payments

I think you're right. I'm currently trying to sell my art as another source of income and hopefully will be able to pay off my debt while saving up for the van life. I appreciate your advice

 

[sammyjphotography]

Nothing says you can stay with your parents, then park up the van and fitting it out in their driveway. What you need is your own space, a van, while unconventional will give you that.

I totally agree with this. They would let me and it would also give me the freedom to go out whenever I want.

 

[Handsome]

google "Walden on wheels". its a good e-book that goes into beating student loans while in a van

good luck