$555,000 Student Loan Debt!
In a recent article by Mary Pilon at The Wall Street Journal, she describes the suffocating student loan debt from which many professionals are suffering.
“When Michelle Bisutti, a 41-year-old family practitioner in Columbus, Ohio, finished medical school in 2003, her student-loan debt amounted to roughly $250,000. Since then, it has ballooned to $555,000.
It is the result of her deferring loan payments while she completed her residency, default charges and relentlessly compounding interest rates. Among the charges: a single $53,870 fee for when her loan was turned over to a collection agency.”
Pilon goes on to argue that while some people may view student loans as “good debt,” borrowers still need to be cautious when assuming student loans. This is because student loans, unlike mortgages or credit cards, are almost impossible to be dropped if you can’t make the payments.
Read the article here.
Tags: debt management, Student Loans
20.Apr.10 
Debt Management, Student Loans 
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