A Quote by Ana Kasparian
Student loan debt is a real problem. People want to have serious conversations about that.
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As our nation's student debt crisis has reached a breaking point, we've been hearing lots of talk about student loan forgiveness. It's taken me 20 years to forgive myself for my loan - and just as long to pay it off.
The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.
Learn how to prioritize all your debt. And did you know student loan debt is the most dangerous debt any of us can have?
People internalize, from the jail to student loan debt, to credit card debt, to unemployment to the whole collective. It manifests itself in many ways, in people's home lives, domestic stuff.
A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.
The student-loan crisis has an underappreciated emotional valence too: The debt makes people miserable. In one survey, more than half of borrowers said that they have experienced depression because of their debt. Nine in 10 reported experiencing anxiety.
Let's say you're all worried about student-loan debt and you need to have steady income. That doesn't have to be your everything.
There are 43 million people who are locked into predatory student loan debt, from which there is no exit.
As a first-generation college student who worked my way through community college on to Cornell Law, having health insurance was not a top priority when I was starting out. I was buried in student loan debt and worried about simply making ends meet.
Rising student-loan debt is an economic emergency.
Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.
First, pay off your high-interest-rate debt. If you have student loan debt - that's low interest rate; that has a tax benefit - you can leave that out. A mortgage can be an OK one. Credit card debt is poison. That needs to be paid off right away.
Remember that in most cases, student loan debt is not dischargeable in bankruptcy. So you continue to pay it off anyway. Those who have very low interest rates (2-2.5 percent) on student loans and know everything is secure, great.
We call for a bailout for an entire generation that is basically held hostage by unpayable student-loan debt.
War at home is matched by a war on youth. I wrote about this recently. Young people graduate with an average of $23,000 in student loan debt, and they are the ones saddled with it. Youth have become indentured servants and that turns them away from public service.
I think for young people, there are so many issues, not only student loan debt but health care and all these various issues that I believe can impact the quality of your life.
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