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oyster · 2938 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. 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.Most borrowers who have defaulted owe relatively little—a median $8,900