In case you need to read yet another downer article about how college grads have racked up outrageous amounts of student loan debts, The New York Times delivered. The first paragraph is more than you need to get the gist:
Kelsey Griffith graduates on Sunday from Ohio Northern University. To start paying off her $120,000 in student debt, she is already working two restaurant jobs and will soon give up her apartment here to live with her parents. Her mother, who co-signed on the loans, is taking out a life insurance policy on her daughter.
The article discusses the growth in student loan debt, some personal profiles, and plenty of political drama. It also takes 6 pages to cover the same story and issues as The New York Times has covered before. While it doesn’t offer advice or help to students who already have loans, it’s a cautionary tale of what can go wrong.
Although it is a great geeral overview for someone who’s never read about the debt issue before, for students or grads who already know the story and have debt their time would be better spent doing something other than reading this – like getting a second or third job.
If you or someone you know is drowning in debt because of student loans bankruptcy may be the best option. Contact the Adler Law Firm PLLC today for a free consultation.
