Hawnjigs
KISS
I was wondering how many families are affected?
Our daughter and son-in-law relied on student loans starting around 16 years ago to get them thru college since working part time wasn't enuf to cover both school and living expenses in CO. Both my wife and I were not in a financial position then to be much help and they seemed to be getting by OK. Presently, they are a model family, well employed as a data systems tech and registered nurse, with the older son(of two) a college freshman. They live frugally, for example their single TV is a small LG(well under 30"), their two cars are used Hondas, and they mostly shop at Costco. The only recreation they have time for are gym workouts and street running. We(wife & I) provide their housing.
Still, at age 40 they have been unable to pay off their student loan debt presently compounding with a 9% interest rate. Payments on ONE of their loans is $800 per month. Our extended family pitched in to get our grandson thru his first year of college, but looks like he will need to get student loans after that. I got thru U of H debt free since $125 per semester tuition was EZ enuf with my parents help and summer jobs, but times have REALLY changed.
Our daughter and son-in-law relied on student loans starting around 16 years ago to get them thru college since working part time wasn't enuf to cover both school and living expenses in CO. Both my wife and I were not in a financial position then to be much help and they seemed to be getting by OK. Presently, they are a model family, well employed as a data systems tech and registered nurse, with the older son(of two) a college freshman. They live frugally, for example their single TV is a small LG(well under 30"), their two cars are used Hondas, and they mostly shop at Costco. The only recreation they have time for are gym workouts and street running. We(wife & I) provide their housing.
Still, at age 40 they have been unable to pay off their student loan debt presently compounding with a 9% interest rate. Payments on ONE of their loans is $800 per month. Our extended family pitched in to get our grandson thru his first year of college, but looks like he will need to get student loans after that. I got thru U of H debt free since $125 per semester tuition was EZ enuf with my parents help and summer jobs, but times have REALLY changed.
