The lasting burden of college debt

Avoid college debt like an STD

Her loans should DEFINITELY be 100% forgiven. 💔

I dropped out my freshmen year, when the grant I got wasn't enough to cover my first year. I was pressured soo much by admissions to "just take out a loan." I was raised by my dad to not build up debt in my name, so I dropped out and started working. I learned how to code on my own over 3 years, and ended up securing my career as a Software Engineer without any degree, now Im senior in my career. I tell all my young relatives "depending on your goals, you don't NEED a degree"!

I used to believe in the fact that everyone should go to college but now I no longer feel this way! College is just not for everyone

The US education system is irrevocably broken. The mere fact that college tuition has increased at a rate much higher than inflation, coupled with the near impossibility of discharging school loans via bankruptcy confirms higher education is little more than a pyramid scheme for banks and schools. Five years ago, our daughter was accepted to several of the "best" schools in the Northeast, but after comparing the financial aid on offer (i.e.95% loans), the tab was north of $300K for four years. So we looked into EU schools, whose countries realise having well-educated citizens is a boon and not cost to society. Her degree in International Business cost an average of $900 a year. She graduated debt-free, accepted a permanent position for a job in her field, and is happy.

Poor lady. She figuratively lit herself on fire to keep her family warm.

College did not do $h!t for me

This is the problem with the student loan system. Why is she paying SIX TIMES what she borrowed. What other loan causes this damage. A fair system would be placing a cap on the interest. It shouldn't be more than double what you borrowed. Case 1 should have maxed out at 11,000. Case 2 is wild, they should've let her back in with a payment plan and reinstate the credit completed.

SMDH these student loans are predatory! I graduated during the last REAL recession in 09 but could not find a job for nothing bc no one was hiring bc recession and my job even paused merit increases on my already low wages. I graduated with $55K making $11/hr. and now the loans are almost $100K. I wish I never went to college TBH.

How as a nurse was she not able to pay it off?

The average American doesn't seem to understand what interest is

The young lady with a 2.0 GPA wasn't college material to begin. That's the main problem. Ppl who are not interested in higher education, are going to college with no clear plan, nor goals to graduate. Just majoring in ridiculous studies, and failing courses due to lack of discipline and racking up massive fees.

She obviously didnot pay on her debt $5500 owed over 30 years ago. So many people feel if they ignore it it will go away.

When I first thought of going to college I noted the high cost. My father suggested serving in the military and have the GI bill to pay for my education after my discharge. That is exactly what I did and my bachelor degree and masters are paid for, no loan debt for me. Plus I had the honor of serving my country. Best decision of my life.

About 40 years, I took out a $1,500 student loan that grew to $2,500 because I deferred payments. A few years later, I took out a $2,000 parent loan to help my daughter, and the debt doubled because I deferred payments. During that same time, I took out about $15,000 in student loans to finish my bachelor degree. One day when I was in my early 40's, I realized that I had accumulated a $26,000 student loan debt. I started making minimum payments, then realized I was not making much progress. So I changed my lifestyle dramatically and focused on paying off the debt in two years instead of 20 - 30 years. After paying the parent loan off in four months, I increased my payments for my loans from $200 to $1200 a month. All my bonuses and IRS refunds went toward wiping out that debt. I am 68 years old and have been free of a student loan debt since 2003. And by the way, I was earning $25,000 a year. Determination!

How many people did the first woman do nursing care? Now she is taking caring her grandchildren? Maybe she should have been more selfish

The first woman should have her loans forgiven, that's crazy

I am not understanding why $5500 was not paid years ago it boggles my mind. I can’t understand completely it would have been better for her to chip away at her bill from the get go. I would have sent in a partial payment something is better than nothing.

There's a very simplete solution to all of this. Pass a law banning the Federal government loaning money to 17 year olds.

In college with a 1.9 GPA???? Should’ve just got a job instead of wasting time and money.