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Student Loans Should Not Have to be a Regret Later

student loans
  • Jul 29 2019

It would be nice indeed if we could all live in a fantasy land where education was about the true enlightenment of young minds, with students able to take their time to soak in all the educational benefits of a college or university, and all that so many teachers and professors around the country have to offer; instead, far too many bright minds are being held back due to the student loan crisis that for many, begins just as high school is ending.

It can be hard to focus on your studies when you are worried about money; in fact, it can be hard to do anything if you are obsessing over finances—and usually with good reason. This type of stress can seep into every aspect of your life, causing you to lose sleep, become irritable, moody, worried and anxious. You may be isolating yourself too, not only out of growing depression over your situation but also because you simply can afford to go out—and you also cannot afford to pay the creditors who keep calling in hopes of squeezing blood out of a turnip. Massive student loan payments after exiting school may make it nearly impossible to pay even the most basic of bills, especially when servicers could be expecting over $350 a month from borrowers who may not even be in their thirties yet.

Disillusionment has struck far too many of the 45 million borrowers in the US. While their minds may have been enriched with educational glories of college, that can be a little solace when the refrigerator is empty – and especially if there is a family to support already. Far too many graduates feel a sense of regret and do not think taking out student loans was worth it, but such thoughts resonate even more emphatically with borrowers who did not graduate. Recent news examines the issue, pointing out that much of the crisis may stem from those who leave college without the tools to get a great job—but they still owe on those loans.

“A lot of it has to do with the level of education,” says Persis Yu, an attorney at the National Consumer Law Center. “You may have taken out some debt to go to college but for whatever reason, you didn’t finish. So, you have the burden, but you don’t have the value of that credential to allow you to earn as much as you need.”

“Most of the borrowers we see are in default on their loans,” says Yu. “Most have never heard of income-based repayments. Their wages were garnished, their tax refunds were taken.”

Have you experienced problems with your loan service provider or student loan program, or are you in danger of defaulting on your student loan? Contact Fitzgerald & Campbell, APLC now so one of our experienced student loan debt attorneys can review your case and discuss all the available options with you. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy and other debt management processes. We are here to help! Call us today for a free consultation at (855) 709-5788 or email us at info@debtorprotectors.com.

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Posted in: Student Loan Debt