XPost: talk.politics.misc, alt.politics.usa, alt.politics.republicans
https://www.dailymail.co.uk/news/article-13245879/retired-grandma-student-debt-psychology-degree-college-loan.html
An Illinois grandmother spoke out about owing $108,000 in
student debt - almost three-times the amount of a loan she
took out 40 years ago - as a key deadline for loan forgiveness
is just five weeks away.
When she was 33-years-old, Nancy Peter took out a $30,000 loan
in 1986 to finish her psychology degree at Mundelein College.
The single mother then took out another loan to go to graduate
school at Loyola University in Chicago and worked as a therapist
for nearly 40 years, reported WGN.
Now at 71-years-old, the retired grandmother of two owes
$108,000 due to interest on those loans and is enrolled in
an income-driven payment plan.
. . .
Guess that psych degree wasn't worth the paper it
was printed on .... should gone STEM Granny !
Oh yea ... JoeFlation - actually lots of inflation -
means yesterday's $30k really IS about $100k in
modern currency ......
However this story also shows how much of a CASH
MACHINE student loans became. The whole IDEA seems
to be that nobody can EVER pay 'em off, so the
banks just collect escalating interest forever
and can then hit yer estate afterwards.
Also shows the degree to which colleges took
advantage of all that "easy money" - raising
prices through the ivory-tower roof.
I wonder how bad it is for all those who got loans
for far more WORTHLESS degrees ? Hey, the world
needs exactly ONE expert on Sumerian basket-making
methods ......
Alas, the further 'left' is now using "loan
forgiveness" as a BRIBERY technique to enslave
voters. Maybe we need a few experts on THAT
subject eh ? :-)
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