The Sanity of Student Loans

Oops my mistake. There is no sanity to student loans lasting a lifetime. Not when every other loan people have, get in trouble with, is forgiven through bankruptcy. It does not matter when or what they do is stupid, miscalculated, abused, spent unnecessarily, etc. The loans are forgiven. The only difference here is a student taking out a loan for an education as opposed to something other than an education. Many students were sold a bill for goods for getting an education. Such did not bring prosperity or enough of a return in employment to pay the loan back.

Chris (below) details the issue. Even when you pay what is the entire loan in total? You still may have the accumulation in interest on whatever amount the interest is calculated. Been there with student loans and have done the student loans with my three. They pitched in to help pay them off. Together we finished them off.

Many people are not as fortunate to have a guide and also believe in education as a plus. Just a true-life story and not soliciting.

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“Hi, I’m Chris, age 59. I asked Alan if I could reach out to you. I borrowed $55k in 1992. I’ve paid over $88k and still owe $36k. If nothing changes, I’ll be paying until I die.
 
I can’t fight full-time. But Alan is fighting all day every day for you and me– for all of us.
 
After work I spend 10+ minutes on Alan’s Student Loan Sanity updates/suggested tasks. I post/text where he suggests. Alone, my posts/texts are negligible. But when my posts/texts join hundreds or thousands of other posts/texts (maybe yours, too?) they make a huge impact.
 
There’s power in numbers – and it’s pretty much the only power we have.
 
Money works the same. I live paycheck to paycheck – and the Feds want the bulk of my paycheck. These days ten bucks barely buys a Big Mac. I’d rather send Student Loan Sanity that ten bucks so Alan can fight rather than fundraise.”