I received this some time ago and just now have time to share some of this senior’s story. I’ll call this lady Louise, though that is not her name. Shortly after receiving her degree she became ill with a permanent condition, that while not life threatening, definitely affects her quality of life and ability to work.
Life has not been kind to her since then. Not many years after graduating, she was widowed. She has had more than one heart attack. She has also been involved in an auto accident, which left her with lingering health issues. Louise is now in her 70’s and because of her multiple health problems will never be returning to work. She is trying to get by with only Social Security coming in. Louise is on an income based student loan repayment plan. But even with the lower payments she is having trouble making ends meet. Her family has no idea that she owes thousands of dollars in student loans, and she doesn’t want them to know. She is under a lot of stress from her student loan debt and has no hope of ever paying it off. She describes it as a never-ending nightmare. If you are reading this and think you don’t know anybody affected by these loans, think again. Louise’s family probably thinks the student loan system doesn’t affect anybody they care about.
This is just the kind of person who desperately needs loan forgiveness, which isn’t available to her. People like Louise who have no way to pay off the debt should be able to get out from under it. The laws need to change!