Not even the grave offers relief from crushing student loan debt

Kyle

Just being a fly in the ointment...
PREMO Member
Students, families struggle to repay billions in crushing loan debts


Steve and Darnelle Mason made national headlines back in 2014, through their campaign to reform a student loan system that left them with six-figure debt following the death of their 27-year-old daughter, Lisa.


Four years later, the Masons say that despite their best efforts, they're now even worse off, thanks to private student loans that add up to more than $10 billion of financial stress for students and their families across the country.


These private loans make up just 11 percent of an estimated $106 billion in student loans across the country, according to StudentDebtRelief.com . But unlike federal student loans, which tend to cancel debt in the case of the borrower’s death, many of these private loans are far less forgiving of personal or financial hardships.




http://www.foxnews.com/us/2018/09/06/students-families-struggle-to-repay-billions-in-crushing-loan-debts.html
 

Gilligan

#*! boat!
PREMO Member
Just one of many factors to consider when borrowing money, or when cosigning for someone else that does. Primary amongst those...whoever is loaning it generally wants it back, with interest. End of story.
 
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Merlin99

Visualize whirled peas
PREMO Member
And also, why couldn't you use something like a home equity loan to pay off the student debt and then declare bankruptcy and have the debt removed?
 

Gilligan

#*! boat!
PREMO Member
I did all my lower division credits at community college, and only my upper division at a regular university.
My oldest daughter (soon 36) is preparing to celebrate making the last student loan payment next year. Daughter #2...recent PhD..still has a way to go. LOL. She did, however, attend much less expensive schools than #1 did. Much less expensive.
 
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glhs837

Power with Control
I see Liz has a plan to start wiping debt as soon as she Ascends. And you know what, reform the shiess out of the programs to start trimming the fat from college costs and stop lending money for USELESS FRIKEN DEGREES!!!!! We do NOT need 30,000 Womens Studies majors. "Loans for jobs, not for four years of extended daycare."
 

Auntie Biache'

Well-Known Member
Are these loans co-signed by parents. If not how is the parent responsible.
I didn't see where that was mentioned in the article, so as far as I'm concerned, this is a bs propaganda piece. Everyone in the civilized world knows that when you cosign a loan, for anyone, you are ultimately responsible for that loan. People just don't want to pay what they owe. I'm sorry your kid died, but your still responsible for the loan if you cosigned.
 

glhs837

Power with Control
Here's a bit from the article.

By the time Sarah Baran got the degrees in education she believed would put her on the path to her dream of teaching, she was $200,000 in debt.

The debt wasn’t as high as it might have been had she not won scholarships for her first year, and gotten a college job that covered room and board for two years.

She knew the debt was piling on as she advanced in her studies, but like many college students, she was hopeful that her hard work and investment in her future would parlay into a good job with a solid income.
Are you friken insane? 200K for learning to be a teacher? Unless you are teaching people ho eto make millions, no teaching job in the history of teaching is going to ever pay that off. Here's what I mean about a sanity check. How the hell do you lend 200K to someone who's only ever destined to make 70-90K tops on average?. And yes, I'm being very generous with teaching salaries there. Who takes a a loan outside a mortgage that big?
 

terbear1225

Well-Known Member
Here's a bit from the article.



Are you friken insane? 200K for learning to be a teacher? Unless you are teaching people ho eto make millions, no teaching job in the history of teaching is going to ever pay that off. Here's what I mean about a sanity check. How the hell do you lend 200K to someone who's only ever destined to make 70-90K tops on average?. And yes, I'm being very generous with teaching salaries there. Who takes a a loan outside a mortgage that big?
That is a mind blowing number. She must have been living VERY high on the hog the whole time..and that had to include a Masters Degree..
It almost certainly includes a Master's degree as many schools will not hire a teacher with just a bachelor's anymore.
 

MiddleGround

Well-Known Member
Scholarships to help with the first year.

Job to pay room and board for 2 years.

And... it was STILL a $200K debt?? What school was this? Harvard??
 
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