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mike_c

(36,985 posts)

6. I'm nearly 60 and have never owned a home...

Thu Mar 27, 2014, 11:02 AM

Mar 2014

...because I mortgaged my future 20+ years ago to get an education. My only hope, at this point, is that Congress changes the law and gives me some way out of debt before I retire. Nearly 20 years of monthly payments and the principle on my debt has only declined by a few percent. I won't live long enough to repay it, let alone work long enough. My greatest hope was that Elizabeth Warren would make student loan debt a crusade when she was elected to the senate, and change the exploitative laws. Now I'm less sure that will ever happen.

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$1 trillion student loan debt widens US wealth gap [View all] DonViejo Mar 2014 OP

I'm so glad PasadenaTrudy Mar 2014 #1

Good for you. Lars28 Mar 2014 #5

No offense, but that sounds pretty self-centered. Psephos Mar 2014 #11

I know PasadenaTrudy Mar 2014 #13

:) Psephos Mar 2014 #15

Education Should be Free liberalmike27 Mar 2014 #2

I agree - but until young people start voting adigal Mar 2014 #24

It would be nice to be able to deduct the interest from student loans taught_me_patience Mar 2014 #3

You can... cyberswede Mar 2014 #4

Above poster is correct. CFLDem Mar 2014 #19

I'm nearly 60 and have never owned a home... mike_c Mar 2014 #6

When student debt became "public", I think your chance of having that happen became nil Yo_Mama Mar 2014 #7

fortunately handmade34 Mar 2014 #26

Higher education was once a pathway to a good-paying job. KansDem Mar 2014 #8

Banks get a .25% or free Government loan and in turn charge 5-9% on the same money. WTF? nt adirondacker Mar 2014 #9

WTF Exactly. CFLDem Mar 2014 #18

when you take out loans you have to pay them back. is this a new concept? nt msongs Mar 2014 #10

The problem is that they hand out huge loans without qualification to kids. Psephos Mar 2014 #12

Yup CFLDem Mar 2014 #20

Not if you're Abraham Lincoln or Henry Ford, you don't. closeupready Mar 2014 #23

different... handmade34 Mar 2014 #27

Only 8 more years of 475 bucks a month... ileus Mar 2014 #14

We have about 12 years to go on one daughter's private student loan LiberalEsto Mar 2014 #16

There can be even worse outcomes nitpicker Mar 2014 #28

OMG that's awful LiberalEsto Mar 2014 #29

Hmmmm. If we gave 16 trillion to the banks, we can write off this too. grahamhgreen Mar 2014 #17

You would think. CFLDem Mar 2014 #21

And to boot Morganfleeman Mar 2014 #22

I was thinking about this issue the other day NobodyHere Mar 2014 #25

All those student debtors...... DeSwiss Mar 2014 #30