Sen. Elizabeth Warren (D-Mass.) wasted no time going to bat for college students last week, introducing a bill –– her first as Senator –– that would let students take out federal student loans at the same dirt cheap interest rates as big banks.
Federally subsidized student loans will see a number of fee increases and rate hikes when the sequestration budget cuts go into effect tonight, making it even more difficult for low-income families to pay for college.
Justin Sullivan/GettyStudent loan servicer Navient found itself in hot water with a consumer watchdog in January, when the Consumer Financial Protection Bureau announced a long-anticipated lawsuit against the company.
Navient, formerly known as Sallie Mae, is the nation's largest servicer of both federal and private student loan debt.
In my post Trends in College Tuition vs. Bachelor’s Degree Wages; Interesting Demographics of Student Loan Debt History I noted skyrocketing student loan debt, especially in the age group 30-39. See article for details.
Since 30-39 is not the typical school demographic, I asked readers 30 years or older who are sitting on a pile of student debt to share their stories and reasons.
A summary of reasons and email snips from readers follows.