For those dealing with paying for education using student loans here are a couple of excellent charts put together by a Raleigh neighbor and brainiac Doug Short. As you can see, the explosion or pole vault of college cost and the rocket like trajectory of federal loans to students don’t paint a rosy picture for …
Here is a nifty infographic showing the generational difference and growing danger of student loan debt. Looks like Generation X, those born between 1965 and 1984 is sinking fast. But more Millennials are loaded up with debt than any other generation. And this is what an unfolding crisis looks like.
The amount outstanding on student loan debt continues to increase past the point it blew the roof off how much people owe on all credit card debt. Imagine, people owe more in student loan debt which is nearly generational debt. In most cases it can’t be discharged in bankruptcy and with parents and grandparents co-signing …
“Dear Steve, Took out student loans at 8.5 % interest rate in middle 90’s to enable me to get Bachelors degree to be a teacher, have been making payments off and on since depending upon if I could afford them or not. Have used up all forbearances, etc…options, and am currently in about month 6 …
“Dear Steve, I owe Sallie Mae around $35,000 in loans. They sent a garnishment letter to my employer for around $5,000. After garnishing my wages for almost two years and taking a full tax refund and most of the next year’s refund, they got the amount they were wanting. The garnishment is no longer being …
“Dear Steve, I attended college directly after graduating from high school in 2005. Having a full scholarship, I did not have to take out any loans for my undergraduate degree. However, my mother took out a private student loan in the amount of $27,000 with me unknowingly as the cosigner. I learned of this loan …
“Dear Jon, Student – Due to illness will be commiting suicide early January If a student with pretty much no estate other than a tv and an xbox was to give said “tv and xbox” away as christmas presents. Then, took out £500-£10,000+ from these various payday loan companies at the maximum amount and time …
“Dear Steve, I guess it all started after I got out of the military. I knew I needed to go to school in some capacity to hold a decent paying job. I decided life as an automotive technician would be great, I knew lots of relatives that had a modest life with such a career, …
It seems more people are contacting me these days who look at suicide as a way out of primarily private student loan debt. I’m sure you have the same visceral reaction as I do and feel everyone needs to be talked off the ledge. But in the hard light of day, considering suicide as a …
There is no good news about student loans. While everyone has had their eye on credit card debt, it’s the stupid student loans that are the exploding problem. Since student loans can’t be discharged in bankruptcy, once you are on the hook for the loans it can damn near be a financial death sentence. The …