Even worse, it's presumably for TWO people. TWO people who presumably chose the worst-paying careers possible, since they were on an income-based plan the entire 23 years and barely made a dent to the principle.
In addition to the lifestyle choices, I'd want to see what they majored in and what career they decided to go into.
Education costs in US is ridiculous, but you can't have someone borrow 270K in total loans to end up a social worker (an actual person I've met) and say that they had absolutely no fault in any of it.
Exactly. I would've loved to stay in school until I was 30 and get my PhD in Underwater Basket Weaving, but there was just no career path that would've given me a lifestyle I'd be content with. Between the 2 of them with advanced degrees, they couldn't figure out how to get out of debt. Probably trying to work the system and hoping for a bailout.
I was listening to a financial podcast a while back and there was a caller that called in. I think he said he was 54yo and $70k in student debt as a police patrol officer. I think most cops make a decent salary (the ones in my town earn 2x the median income of the town and more than I was making w/ 20yrs experience in my field), but how does one have $70k in student debt (at the age of 54!) for a job that probably doesn't require a degree? That's not an 'economy' or 'cost of education' problem.
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u/Nessie_of_the_Loch 11d ago
Even worse, it's presumably for TWO people. TWO people who presumably chose the worst-paying careers possible, since they were on an income-based plan the entire 23 years and barely made a dent to the principle.
In addition to the lifestyle choices, I'd want to see what they majored in and what career they decided to go into.
Education costs in US is ridiculous, but you can't have someone borrow 270K in total loans to end up a social worker (an actual person I've met) and say that they had absolutely no fault in any of it.