A Whole Generation Of Debt

, , , , | Learning | July 12, 2018

(I used to work for a federal student loan company. One would think students and parents of students would understand what they were getting into… but that’s not always the case.)

Customer: “What do you mean, I have to pay these? I took them out for my kid to go to school! They should have to pay them back!”

Me: “I understand where you are coming from, but when you agreed to take out the loan, it went into your name and details, not the benefiting student’s name and details. If they choose not to pay it, then it will ultimately fall back on you as the one who took out the loan.”

Customer: *has a ten-year repayment plan and is only two months into it* “I’ve paid on this forever. I don’t want to pay anymore. How can I get it forgiven?”

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