I do my best to be kind but, for a PhD holder, this woman is not very smart. http://finance.yahoo.com/news/missouri-high-school-teacher-ended-200000267.html
Is it still ten years one has to repay a student loan? If so, a student loan indebtedness of $410,000 would be $3,416 per month for ten years. :thinking:
My 3,701 sqft (5 bedrooms, 2.5 bathrooms) house was purchased only for $197,500.00; technically she has more than 2 mortgages without a home.
For starters, I'm glad that she acknowledges that her situation is a result of her own choices and that she's "not a victim." Second, she didn't make any payments for 25 years. So the inflated total is largely because interest just ran wild. On the one hand, I wish student loans weren't like credit cards and interest rates were more modest. At the same time, no payments for 25 years? That's an entire career length she paid not a single cent toward the money she borrowed for the education which enabled her to have said career. What's curious is why this is even a feature article. Are we supposed to feel sorry for her? Be amused by her predicament? I have a $500 balance in my credit card. If I just refused to pay it for 25 years, I'm sure it would be a substantial debt. What it wouldn't be, however, is a commentary on the evils of credit cards.
