Why the Student Loan Crisis Is Even Worse Than People Think

[calinewarkwc69]

More than 25% of students who take on college debt are graduating with way too much of it, this leading expert says. And the repercussions could be lifelong.

When discussing the student debt crisis, most people focus on the rapid growth in outstanding debt and several recent milestones. For example, student loan debt exceeded credit card debt in

Comments

[ilouboutin]

Just talked with Navient this morning about lowering my monthly payments. They'll never get paid off.

[stainedfeathers]

Navient. *seethe*. I have loans through them and I'm on IBR. I signed up for auto pay, which comes with a .25% decrease in interest rate. Well they INCREASED the percentage of my interest rate on my (lower) variable loans and only applied the auto pay to them. They didn't apply the autopay to my fixed interest loans (higer percentage) so they wouldn't have to give me a decrease on the interest rates on those

[tilmon]

All this talk about informing students of risks is ignoring the damage already done, as well as ignoring the contributing factors of illness, family emergencies, and hiring cycles (if you don't find work in your field within 2 years of graduation, you will likely never find it). Most people aren't going to face significant personal challenges upon graduation. Those that do face them can't be made to come up with money that they will never have. Making bankruptcy easier would go a long way toward addressing the current problems.

[screamingintune]

debt is a huge problem and I have a lot of it but the truth is I am better off as an educated person and feel really positive things about my future. maybe because I spent 12 years a low-wage worker and felt like I'd never go anywhere or what, but I'll gladly take on debt for which I'll pay minimum payments on forever over the feeling of absolute hopelessness i felt in the low wage workforce

[prlsb4swiine]

My grad school debt haunts me emotionally, I'm not even half way yet and the numbers give me heart palpitations :(

[soleiltropiques]

Belated, but I understand this completely, as I'm in rather the same situation.

It's just terrible and this issue should not just be the responsibility of individuals and students. There needs to be a collective effort to make: (i) university cost less and (ii) to increase the student financial assistance which is in the form of grants.

[prlsb4swiine]

IA completely. Sending you love and support dear!!