Korean Job Discussion Forums

[tlord1986]

I know that South Korea is probably the best country to teach in if you have student loan debt to repay, but I am interested in other countries too. Are there other countries in which an EFL teacher can earn enough money to live on and repay student loan debt.

[mole]

[D.D.]

Student loans are a goverment conspiracy to enslave the educated masses into kissing the systems ass.

Now let's sit back and watch all the people enslaved to the system react to this comment.

It still amazes me how many people still believe that their countries care about them. They give you loans so you can get the education to work for them and now they don't even want to give you a decent amount of pay.

Wake up people , wake up......hahhahhaaa.

I should also mention that Americans will have a hard time sending enough home now. Canadians will find it tough. Australians will find it easy as their exchange rate is still good and their government actually has a fair student loan system that doesn't try to put people 100000 in debt.

[Robot_Teacher]

While you don't take this gig to get rich or secure a professional income, ESL teaching pay anywhere in Asia is generally not a professional level of income, only modest, it's a way to travel and get an experience more unique than staying home for a McJob in the service sector which pays even fewer peanuts. Of course, you can become a robot teacher at home for $10K to $20K more than what Korea pays in U$ value, but we want a more interesting adventureous experience than that. In my research of the big scheme of things, Korea still seems to offer the most remuneration in the world except in Saudi where they require a masters.

I'm on the income contingent repayment plan with my 40 G's of student loans the US Dept. of Education holds which allows me to pay a very small amount that doesn't break the bank or keep my savings too small. Good thing I refinanced 4 years ago with them as the contract also states that if it's not paid by 25 years after graduation, the loan is forgaven and I just pay tax as if it were income. I have 19 years to go, but I'd be proud and happy to pay it if I get to rolling along in my career with decent professional level earnings.

Save 1st as to keep an emergency fund, becuase you need money to repatriate or make a move on or change job. If going to the US, even for a few months, you'll need to buy or hire a car and rent a place if your relatives can't temporarily house you. You need your emergency fund or savings before reducing your debt.

If I were to pay full monthly payment on a standard 10 year repayment plan, I'd be sending 35% of my pay for student loan and then another 15% to 25% for other bills like utilties and transportation and another 25% for food. This would leave only a paltry 300,000 to 500,000 won a month to do whatever with such as save for traveling or repatriating. Todays economics just don't compute as being very advantageous for our good in developing a nest egg, real estate ownership, raising a family, and getting on with life. I could pay off this loan in only 5 to 7 years of continueous teaching in Korea if not saving a single man won, taking any trips, and buying extras like computers, clothing, gym membership, and miscelaneous, but that's irrational. Not worth the sacrifice of 5 to 7 boring years of all work/no play so I'll take my time in paying up.

And remember, we're not licensed finance professionals on Daves ESL; just people having a discussion.

[losing_touch]

This is why I just processed a deferment. The fall of the won has made making payments ridiculous. It is better to keep my cash in the bank and pay in a lump sum. Korea is no longer the best place to continue making such payments.......

[i_teach_esl]

should we be rushing to pay back our student loans? many students consolidate, and have 3% interest for the life of the loan. maybe only minimum should be paid?

http://www.beatthatquote.com/news/loans/Q_A_Should_I_repay_my_student_loan_early.html

[Draz]

[yingwenlaoshi]

Student loans. Ha ha. I know people well into their forties still paying those. Makes me laugh.

I got a loan one semester. Just because I could. Paid for a few drinks. I might've made one payment, but the rest came out of GST checks and maybe tax returns.

It was only four grand or something. Those loans were given out autmatically if you applied for one after 4 years out of high school. Got the full loan, but I only paid half price for university. Got the rest back. I went under the radar and neglected to tell them about my scholarship.

Suckers!!!!

I owe nothing except 45 bucks to crusher and 130 bucks to DWAEJIMORIGUKBAP (and some bar tabs in Taiwan).

[VanIslander]

[yingwenlaoshi]

[DWAEJIMORIGUKBAP]

[young_clinton]

I was never in line to recieve a good job with a good salary to pay back the student loans that i owe. I stopped paying back my loans a long time ago.

[young_clinton]

Let the people who know how to push all the right buttons, for instance sleeping with the right person, pay back thier loans. Not me

[blade]

[Moldy Rutabaga]