Marjorie Sener was still in her 20s when she took out a loan for about $5,000 to get some college credits she hoped would eventually add up to a bachelor’s degree. That goal was thwarted when her partner became ill. “The burden of our living expenses fell on me,” said Sener, who lives in the Dallas suburbs. “I devoted all of my resources to keeping our heads above water.” But while Sener never got her degree, that student loan kept growing, fattened by compounding interest.
I'll probably die with student loan debts… but only because I'm a mature student and the student loan system in the UK was recently changed so debts are written off after 40 years rather than 30. Still, having the remaining debt written off when I'm in my 80s is something to look forward to, I guess? Our repayment terms are substantially more progressive than in the US, though (closer to a graduate tax than loan repayments), so pensioner me likely won't be required to actually pay anything. I'd rather we had properly free university the way most of Europe does, but I'll still take the UK's system over the US's.
I'll probably die with student loan debts… but only because I'm a mature student and the student loan system in the UK was recently changed so debts are written off after 40 years rather than 30. Still, having the remaining debt written off when I'm in my 80s is something to look forward to, I guess? Our repayment terms are substantially more progressive than in the US, though (closer to a graduate tax than loan repayments), so pensioner me likely won't be required to actually pay anything. I'd rather we had properly free university the way most of Europe does, but I'll still take the UK's system over the US's.