'Killing the middle class': millions in US brace for student loan payments after Covid pause [View all]

[turbinetree]

Student debt in America has become a crisis for millions of citizens that often feels like it will last for people’s whole lives

Jennifer Rae Wilson, a social worker and single mother of three children in Richland, Washington, has struggled with student loan debt since she went back to school and graduated in 2000 – more than two decades ago.

Struggling to raise three boys with very little child support, Wilson decided to attend college 10 years after graduating high school to improve her career prospects. She was eventually able to move out of low-income assistance housing and off government assistance programs.

“But then the school loans hit,” said Wilson. “I couldn’t afford the payments on top of rent and all of the other things, there was no way that I could make those payments.”

https://www.theguardian.com/us-news/2021/dec/09/us-student-loan-crisis-payments

I am one of the people that have a student loan, it will not be paid off until 2027, upon my discovery on this issue, which are many, if someone has a loan and they are prior to 2010, you cannot from what I got back from the US Department of Education , and the Federal Student Loan agency within the government any forgiveness, you can restructure your loan and if you do something in the public area like teaching or working for a non profit, or some of the other criteria on the list, you have to do it for ten years to qualify for the forgiveness .....my beef, is that during the 2008 banking crises or if someone becomes injured and decided to go back to school and take out these loans, why did we bail out banks but not students, that were in many cases losing jobs, homes, so that they wanted to retrain... ect....and some of those people are now collecting Social Security and if they default they can take up to 15%% of your social security check to pay off that loan...this is a crises and it is going to get worse....