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The thing that scares me is the fact that lady will take this information (much as she did in the past to get in this situation) and run with it.
The fact is, she needs to sit down with someone and layout all her information and have someone REALLY help her.
I would not say getting a degree to be careless... depends on where she went to school. I'd like to know why she was not able to leverage that degree to a salary that would have allowed her to pay off that loan in a reasonable time.
Although, I will agree that she should have sought to make the loan cheaper or work a part-time or something... anything. But she is here now, so....
I didn't watch it, but I have heard of people's loan debt doubling or tripling due to the way interest accrues on student loans. Especially during the economic crash, when people were unemployed and had to take hardship forbearances. I doubt she borrowed 300k.
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I didn't watch it, but I have heard of people's loan debt doubling or tripling due to the way interest accrues on student loans. Especially during the economic crash, when people were unemployed and had to take hardship forbearances. I doubt she borrowed 300k.
Fictitious ones mostly. It'd take at least a decade and more like two for a student loan balance to double. It's certainly possible to do since you can basically indefinitely defer student loan repayment (especially federal loans) with no consequences.
Fictitious ones mostly. It'd take at least a decade and more like two for a student loan balance to double. It's certainly possible to do since you can basically indefinitely defer student loan repayment (especially federal loans) with no consequences.
If the loan balances get that much higher, I'd have to say there were consequences.
People cannot get a forbearance if they can afford their loans, though.
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She explains that the total student loan debt is $275K for bachelors degrees in economics and sociology.
What is (very) wrong with this picture?
Well -- my bullhockey detector was tingling. I think someone wanted to be on the radio....
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