Share good ideas and conversation.   Login, Join Us, or Take a Tour!
oyster  ·  985 days ago  ·  link  ·    ·  parent  ·  post: More Than 40% of Student Borrowers Aren’t Making Payments

One thing that surprised me is how little people defaulting owe.

    Most borrowers who have defaulted owe relatively little—a median $8,900

Maybe that's just the cost of crappy useless diplomas that people get and can't use but wow that's not hard to pay off. If you just put off buying a car and instead put the money for car loan, gas, insurance, and maintenance minus a bus pass towards it that could be paid off in just over a year. Of course that only works for the person in the article and plenty are stuck in minimum wage jobs but still it's not impossible to pay off. I can't imagine just having that debt hang over me for a year.