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What student loan debt does to people (it’s not pretty)

MarketWatch, Nov. 14, 2018

New survey shows the human toll, forcing many to pay more for education bills than necessities.

Student-loan debts are crippling the finances of Americans and seriously stressing them out, according to a new survey.

It’s no secret there are widespread hazards with hefty student loans, but a new report from Student Debt Crisis and Summer, a start-up geared at helping student-loan borrowers figure out repayment, paints a stark picture on just how crushing the obligations can be as Americans try repaying $1.5 trillion in student debt.

The survey found:
· 80% of participants ­— with average debt loads of $87,500 — said their student-debt obligations prevented them from saving for retirement.
· 59% said they couldn’t make large purchases because of their student-loan bills and 56% said they couldn’t buy a home
· Student loans were a “major source of stress” for 86% of the respondents and one-third said student debt was the No. 1 cause of their stress

Monthly student loan payments topped expenses for necessities like food and health care, according to the majority of the 7,095 survey participants.
· 65% said their monthly student-loan bills were bigger than their food budget
· 56% said their monthly student-loan bills were more than health insurance

“It’s frustrating and honestly makes me feel completely defeated,” confessed Colleen from Pennsylvania. She was one of the people quoted in the report, talking about their struggles after incurring debt to get a good education.

Another woman in Texas, Melissa, said, “Regularly, I contemplate selling everything and living in my car to help free up money to pay off the debt sooner.”

The survey respondents are a sliver of the people on the hook for education bills. Right now, 44 million American are repaying an outstanding $1.5 trillion in student debt, the report notes. That debt number has skyrocketed, tripling since 2005.

The Great Recession, following the collapse of Lehman Brothers and the burst housing bubble, created the perfect storm for massive student debt.

Some observers have called the student-loan industry a “failed social experiment.” And it doesn’t help that debts crash down while many people are already stretched thin, with just a few having rainy day funds for emergencies and unplanned expenses.

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Перед нами сейчас - коварный и опасный мошенник, расист, лжец и фашист Дональд Трамп, порочный Конгресс, нацистские ФБР - ЦРУ, кровавые милитаристы США и НАТО >>> а также и лживые, вредоносные американские СМ»И».


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Правительство США жестоко нарушало мои права человека при проведении кампании террора, которая заставила меня покинуть свою родину и получить политическое убежище в СССР. См. книгу «Безмолвный террор — История политических гонений на семью в США» - "Silent Terror: One family's history of political persecution in the United States» - arnoldlockshin.wordpress.com

Правительство США еще нарушает мои права, в течении 14 лет отказывается от выплаты причитающейся мне пенсии по старости. Властители США воруют пенсию!!

ФСБ - Федеральная служба «безопасности» России - вслед за позорным, предавшим страну предшественником КГБ, мерзко выполняет приказы секретного, кровавого хозяина (boss) - американского ЦРУ (CIA). Среди таких «задач» - мне запретить выступать в СМИ и не пропускать большинства отправленных мне комментариев. А это далеко не всё...

Арнольд Локшин, политэмигрант из США


BANNED – ЗАПРЕЩЕНО!!

ЦРУ - ФСБ забанили все мои посты и комментарии в Вконтакте!
… и в Макспарке!

@темы: Dictatorship USA – A Plundering and Predatory Nation