Check out this wonderful video submitted for the #OutwithStudentDebt video project.
What’s your Student Debt Story?
Student Debt Story:
When I met my wife, I asked her why she rarely had more than eggs and bread in her refrigerator...I later found out her checking was often overdrawn because she barely had enough to make rent and pay her SALLIE MAE LOANS. I don't ever recall there being more than half a tank of gas in her car ... in fact, I expected it empty every time. She graduated with a BS degree and high marks from a private university.
We started our life together with over $100,000 in combined student loan debt. There was a period of time where student loan payments accounted for over 30% of our income. I graduated with a BS in Civil Engineering from a private university and now work as a project engineer for a booming design-build company. My wife works full time in human services and no longer has the income to pay her loans which have ballooned out of control since forbearance. I barely make enough to handle my own loans and living expenses. Our first child is on the way. I have concerns that I will not be able to support our child BECAUSE OF OUR STUDENT LOAN PAYMENTS. We live in a shoebox apartment. I can't contribute toward my 401k. We live paycheck to paycheck even though we are both successful in our careers. This also comes with residual effects like depression and health problems that we can't afford.
I am seriously considering leaving this country. I honestly never imagined myself wondering how we would pay the bills being two educated model citizens with full time jobs. To think that my future, my wife's future, belongs to a bank is unbearable.