What Would You Do With Your Student Loan Payment?
Student loan debt used to be my darkest secret — the most shameful and crippling fiscal blunder of my youth. One I will spend my entire life rectifying, one month at a time. It has been helpful to learn that I’m not alone in my fears and hear economists expose the predatory practices that manipulated so students many students into $1.5 trillion in student loan debt.
During the recent Democratic debates, several candidates (Sanders, Williamson, Warren, and Gabbard) called for total loan forgiveness arguing that unburdening students from hefty monthly payments would stimulate the economy. Instead of paying into a corrupt system, all that money would be redirected into actually producing the betterment students pursued higher education to achieve.
I immediately began to imagine how I would spend an extra $500 a month. How would my life change? What would my future look like?
How much are your monthly payments and how would you allocate those funds? How important is the issue of student loan debt as we head to the polls? Check out this recent report by CNBC and let us know where you stand in the comment section below. Most importantly, know you’re not alone.