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.
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.
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.