Korean Job Discussion Forums

Lparsons7641 · Joined: 17 Jun 2010

Hi everyone, just wanted to ask advice of people who have "been there and done that"

I thought about going to Korea 3 years ago after graduating college. I almost went, then backed out. I got cold feet. (Hagwon)

Looking back, I wasn't ready. I lived with my parents, and wasn't the most wordly guy. Since then I have moved to a different state, successfully gotten a few above minimum wage jobs, and oh ya, got a crap load of student loans (it will be roughly $60,000 all told, Undergrad+grad)

Now I am in grad school, about to finish (one more semester)

I am studying Library/Information Science. I love the field, but I am not sure I want to do it right away

I think this might be my last best chance to go abroad. I am 25 next week, and really need to get "started" The job market in my field is not good to say the least.

Would Korea be a good place to do something "out of the box?" Something adventurous? I wouldn't obviously doing what I trained for, but I quite enjoyed my education courses in undergrad (my major was history, I dropped the "ed" part because I didn't want to student teach, ya I was dumb then)

Would Korea be a good place to pay off at least SOME of my debt? I am afraid of the number honestly. But if I can nuke it for 2 years in Korea, it would seem much less daunting. I can live very cheaply. Would putting $1000 towards it a month be feasible? Heck, the minimum payment will be nearly $800............

I am looking at TEFL courses (for myself and the students sake) I'd prefer fully in person but don't have the time........would my Masters degree count for "level 2?" It is a weird degree, not a traditional MS or MA, closer to a MSW or the like (more "vocational")

And a out there question..........is there a market at all for someone to be an english speaking library professional in S. Korea? I am not going the school library route, though at times I wish I was.

Cheers! and thanks for any advice you can offer.

Ralph Winfield · Joined: 23 Apr 2013

Wow, where did you go to school and are you not a Native Speaker of English?

nicwr2002 · Joined: 17 Aug 2011

I can answer the student loan question. I have about $55,000 in student loan debt and one credit card. I send 600,000 won home per month and that gives me about 525-530 dollars in America. Student loan payments for me are $435/month. If you end up with a 2.2 million won job, the deductions will bring you to around 1.95 million won. So, yea you can do it, but if you want to save any money, you will really have to watch the eating out and the beer drinking. Both of which are tempting to do when you get here.

nicwr2002 · Joined: 17 Aug 2011

I can answer the student loan question. I have about $55,000 in student loan debt and one credit card. I send 600,000 won home per month and that gives me about 525-530 dollars in America. Student loan payments for me are $435/month. If you end up with a 2.2 million won job, the deductions will bring you to around 1.95 million won. So, yea you can do it, but if you want to save any money, you will really have to watch the eating out and the beer drinking. Both of which are tempting to do when you get here.

Cacille · Joined: 05 Oct 2011

I can also add some advice about student loans. I have 60k in student loans and another 8k in CC debt.
I'm at 2,200,000 and I send at least 1,300,000 back home every month, more if I can. It translates to be about $1100, and I use that to pay down my higher interest college loans and credit cards first. If I do everything right, I'll have paid off my college loans in 4 years or so. So I plan to stay in Korea a minimum of three years. Korea is a GREAT place to work off your debt, even better if you go rural where you won't have as much opportunity to spend money. If you live REALLY frugally, you can feasibly send as much home as 1,500,000 a month!
Korea is definitely a good place to do stuff out of the box and adventurous stuff in general. There's cool stuff in the cities to do as well, if you have a Korean friend who can help you or go with you to do things. You can even make a run to Japan for vacation and have some fun there!

You need a TEFL. Get one.
As far as your other questions go, I'd rather not answer them than give you false info, because I seriously don't even have a hint of an idea to give you without it being pretty much a lie.

Lparsons7641 · Joined: 17 Jun 2010

PRagic · Joined: 24 Feb 2006

Talk to your local recruiter. The military sometimes offers loan forgiveness as a bonus for time in service.

But the military isn't for everyone. You might be able to postpone payment of your student loans if you work overseas. That used to be the case. Ask at your bank. Interest would accrue, but you'd at least have some pressure off.

While you're here, you can plan on being able to send at least a grand a month back to the States if you play your cards right.

Lparsons7641 · Joined: 17 Jun 2010

Weigookin74 · Joined: 26 Oct 2009

Just out of curiousity, what do you Yanks pay for student loans nowadays? Interest rates and such. Us Canucks can choose a fixed rate when we finish our studies. It will be the prime rate on the date of agreement plus 5 %. But will stay the same for the entire loan. We can also choose a floating rate of prime plus 2.5 % Fortunately rates have been down the past 3 or 4 years meaning the floating rate has been more beneficial. Prime rate is 3% nowadays. So, my APR is currently 5.5%. I had 50 K in student loans, personal debts, credit cards, etc when I got here. Makes my minimum payment just on the loans as around 550 a month. It's based on a 10 or 11 year repayment plan. At the beginning of a loan the principal is high and interest payment is low. I've just passed the 5 year mark and am down to the upper to mid 20's K. If you can make more definately do so. I've had credit card debts to contend with and settling behind backed up bills when I first left the west behind. Sometimes, I wonder why I didn't just default like some waygooks. ha ha.

Lparsons7641 · Joined: 17 Jun 2010

young_clinton · Joined: 09 Sep 2009

I don't think teaching is for you unless you spend a year after your masters getting licensed to teach. Once your licensed all sorts of better overseas jobs will open up like crazy. You might even be able to use your Library Science Degree in a subject type position.

Weigookin74 · Joined: 26 Oct 2009

Young Clinton prob has a point. But that's even more debt. Maybe you want to get some down before taking on more ed. Interesting the higher ed piles on the debt and interest while in school. Kind of sucks. Plus side seems more grants state side, so it keeps the debt down. Anyways, will take a while. But, better than not paying and having it frozen. Cool that charity work working for the government gets some debt forgiven. WOuld have done that in Canada had there been an option. Sadly, they don't do that.

hacheondo · Joined: 05 Apr 2013

Paying off debt is good. My concern would be being gone for two years in Korea will not look all that good with respect to you becoming a librarian. It's a kind of black hole after grad school. My four years in Korea did NOTHING for me at all back in the US. Nobody cared -- even more, they seemed suspicious b/c, well, they can't verify anything I did.

If coming just for repayment, probably not worth it. If coming b/c you really want to and will gain some awesome and challenging life experiences before you settle into your career, then yes it may be worth it.

If you realy want this librarian career, then I think it makes sense not to come. The job market is so tough. They may wonder how committed you are to your field if after you get your degree, you bailed for another country.