Ask Terry Questions Student loans for 51yo RN that are 100k +

Student loans for 51yo RN that are 100k +

By Terry Savage on February 26, 2021 | College Savings / Student Loans

Hello!
I was divorced, resorted to public aid as a single mom raising 2 kids. I went back to school, took a while but graduated in 2012 as an RN with a masters. Over the years my student loans ballooned to $140,000+. I’m 51, make around 65k, and fear I will take this to the grave. I could have stayed on public aid, with zero debt and free medical. That’s sad. Retirement? Not sure how to prepare for my future. Any references/advice are much appreciated. Please help????

Terry Says

Oh what a terrible, sad story. And it’s happening to too many people. This is the insane burden of student loans — not the ORIGINAL amount, but the burden of the high original interest rates that attach to the loans. I’m gathering situations like yours, and hope to pass them on in a way that might lead to a sensible solution in Congress. Something will be done soon, I’m sure to take at least some of the burden off your shoulders!

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