This Picture Will Make You Think Forgiving Student Debt Isn't So Crazy After All

[chervilant]

157. + a gazillion

Actually, I had loans for my undergraduate degree and my graduate degree, and paid them all off. It took years, and the payments were the same as buying a new car (as a matter of fact, my mother remarked "You could have bought a new car!" when I told her how much my graduate degree was costing). However, my loans all predated 1995, and I took longer to get my graduate degree so that I could work full time to pay off my loans while I was getting my degree.

I have many friends who are struggling under the burden of large school loans. The lenders tout their 'low interest rates,' then they hit you with ginormous monthly payments. Most young people are not savvy enough to ask about their monthly payments. In today's economy, if you have to pay $400/mo on your school loans, you're not likely to have sufficient income to live alone, or to acquire furniture or household accoutrements.

How many of us will be homeless or destitute in the coming two years? I know I personally don't have many options, after I cash in my last retirement account. I'll be homeless or gone from this planet...