Paying Off Twice Your Student Loan

Earlier this summer, a Canadian reader, Kristen, voiced the “Unpopular Opinion” that she’s “tired of hearing about people’s student loan debt,” given her dogged efforts to pay for her own college tuition without loans and thus forgo “the ‘university life’ that I saw on TV: brick buildings, living on campus, and fun parties every weekend.” But a reader who grew up in poverty, Mary, responded to Kristen that “without those loans that I ‘chose’ to take out [while working as a single mother of three], I would likely still be working for minimum wage and living in poverty.”

Here’s another key perspective from Olivia in Dayton, Ohio:

I appreciate the comments of others from Canada and from Kristen that show how university can be less expensive in that country but still a burden that has to be paid. I really wish I would have walked Kristen’s path, because she is so smart for making the choices and sacrifices that she did. I hope she is rewarded for those good choices throughout her life.

However, I am disheartened by the constant attention to the newer grads. I am mid-forties and graduated during the 1990s. It is my friends and peers who are having an awful time paying these loans, some 20 years later. Why? In the ’90s, the interest rates were at 8 percent … guess who is STILL paying those rates.