By JLP | November 23, 2010
One of my facebook friends posted a link to a person’s website asking for donations to help them pay off their nearly $200,000 in student loans. I visited the website and found their story on their About page:
I chose to attend a top 70 school — and why not? It had everything: prestige, great location, typical campus, every major under the sun… the full college experience.
Five years later I am $200,000 in debt, as my education did not lead me to the career that would help pay off my loans. Also – I am only 23.
What’s even more, Sallie Mae [student loan corporation] won’t allow me to consolidate my loans, repay the loans based on my income, or defer again (as I’ve already deferred for 6 months).
My monthly payments to Sallie Mae are at a cool $891, and next November, 2011, will rise to a mere $1600. Not to mention the 5 other lenders [including federal] that I pay per month…
They got their fancy education and now they expect/want people to help them pay off their massive loans.
Did this person not put pencil to paper and perform a couple of calculations first before they decided to attend this particular school? Judging from their “It had everything: prestige, great location, typical campus, every major under the sun…” statement, I’m going to say no.
I’m sorry but I have a hard time feeling sorry for this person.