4 ms·
I feel terrible for the teacher in question. That balance is obviously going to be almost impossible to pay off. However, there are a number of bad decisions h
by uberman 4y ago
I feel terrible for the teacher in question. That balance is obviously going to be almost impossible to pay off.
However, there are a number of bad decisions here that are suspect.
Firstly, she clearly did not take out a 303k loan. Her loan at one time was much smaller but I don't know what her graduation balance was. Perhaps others do. I'm guessing that it was probably at most 150k (still a huge amount)
Here are some interesting facts.
She is 53 and her loans have been in forbearance (we are not told how long). That means at some point she stopped making payments but interest kept accruing. Her loans are on pause at the moment thanks to the feds but again she is apparently not making payments. However she IS paying for her nephew to go to college.
Great back story but it seems inappropriate to pay for a relative to go to college then claim you can't afford to pay for your own college debt.