When You Think You’ll Never Be Free of Student Loan Debt

Photo credit: Eli Christman, CC BY 2.0.

Today in “the cost of student loan debt,” we go to the Washington Post:

Three years ago, when she finished her master’s degree, Sarah’s student loans totaled $60,000. She has paid steadily ever since and now owes $69,000 — more than twice the annual income she earns working as a children’s librarian.

“I keep paying,” the 31-year-old says. “But it’s like pouring into a bucket with no bottom.”

Sarah lives in Staunton, Virginia and pays roughly $280/month on her loans thanks to an income-based repayment plan. She’s enrolled in public service loan forgiveness, but wonders if the program will be pulled before she gets a a chance to benefit. She’s a single parent who recently bought a house after she and her young son went through the roommate roulette, and she buys all of their clothing at secondhand stores, cooks all meals at home, and doesn’t have Wi-Fi.

Read the whole article to learn more about Sarah’s financial situation and why she worries that she’ll never be able to pay off her student debt.

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