April 16, 2021

Student loan debt is out of control

Student loan debt is out of control

I’m responsible for $140,000 in student loan debt, all from graduate school.

I’m swamped in debt and feel like I’ll never be able to own a house or buy a new car. Mine is 12 years old and I hope it keeps running. Until the pandemic relief last year, interest kept accruing. As an example, I still owe $17,800 on one loan that was originally for $12,000, and I’ve been paying on it for five years. This system is an insane trap that is strangling at least two generations.

Canceling student loan debt is essential to economic recovery and sustainability. How can you start a family or a business when you owe $1,500 a month for the next 30 years? And all because you wanted to better your job prospects? It feels hopeless.

In addition, the government needs to cancel all student loans for any front-line, medical and first responders who have worked tirelessly and selflessly throughout the pandemic, putting their lives at risk for the rest of us. This is the least we can do as a country to say thank you.

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