As of today I have paid almost nothing down on my student loans. In fact, I have probably paid over $10,000 to move pretty much nowhere near being paid off.
It is a two-fold problem, really. One is that I dare not send large sums as not to put myself in harms way of not being able to make a payment if money were to get tight. The other is the over 7 percent interest I am paying.
Now, as I look at it, I am getting raked over the coals by a low payment in exchange for the next two decades of payments. Yeah!!! Fucking yeah!!!
So I thought about it the other day and am giving thought to taking out a large personal loan and consolidating all of my bills so that I make one payment per month. Only problem is that I can write off my student loan interest during taxes but, then again, I don't think it means that much as far as money in return.
I'm going to have to pay off my debt someday and, if I could, get someplace other than another apartment to live.
But there is a thought that I would love the candidates to talk about during this election and that is lowering the interest on student loans.
Higher education is a privilege and it aught not be. We should all be educated to have skills so that, one day, we can do what we want for a career, not what we have to do. One way is to allow us to borrow the money and repay it without making a profit for the lender. I'm not talking about breaking the bank and putting them out of business but this is an investment into the future of America. Why should we have to be bled dry to have an education? Isn't our ridiculous tuition prices bad enough?
Peace.
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