I took out a student loan of $4,000, for my son when he was still in college–he’s now forty-three years old, so you do the arithmetic.
The principal is now well over $10,000. I now draw social security and am required by law to send a percentage of my (meager) monthly social security check to Sallie Mae towards the interest on that student loan for the remainder of my days on planet earth–unless and until the president of the U.S. grants me a discharge of obligation.
Student loans cannot be discharged under bankruptcy. One can be old, broken and homeless and still be required to repay their student loan.
We need to start a movement to have the president discharge college loan debts (parent or student) of any senior citizen whose sole source of income is social security.
I’d volunteer for that!