Ask Terry Questions Student loan debt (Column response)

Student loan debt (Column response)

By Terry Savage on July 16, 2019 | Wild Card

Not a personal question, but I enjoyed your student loan article. I’ve been told Swedish, or maybe German, students, despite not having tuition charges, have debt for living expenses, etc., but interest rates on loans are less than in the US and repayment terms are geared to the borrower’s income (as a percentage?). As a result, loans are repaid without undue burden on the borrowers. Future article?

Terry Says

I’ve received so many comments on my Student Loan Debt column that I decided to post a few of your responses.   I have no idea what the student loan situation is in other countries — but it sure is a disaster here.  We need to get the word out to parents and high-schoolers that the burden lasts forever — and even grows to more than you initially borrowed — all because of high interest rates!  I’ve been saying for years that living at home and attending a community college for at least two years is a much better alternative!



a personal
finance question