Meet a Teacher With $303,000 in Student Debt

Note how the article says “Cheryl HAD to take out loans...”  Really?  Was someone forcing Cheryl to take out absurd amounts of loans to get a teaching job that even a 5th grader knows won’t pay enough in salary to pay back a $300k loan?  Sorry Cheryl but the rest of us taxpayers should not be forced to pay for your very bad business decision.  

Should the Biden administration also consider forgiving up to $50,000 in car loans for every American?  “Meet John.  He’s a plumber who had to buy a truck to carry his plumbing supplies and now the payments are eating into his ability to buy a house.”  

The stupidity of these Democrats is becoming legendary.  

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If it weren't for compounding interest, Cheryl — who requested her last name be withheld for privacy concerns — thinks President Joe Biden's plans to forgive $10,000 in student debt for federal borrowers might have made a difference for her.

But with $303,000 in federal student debt — and an additional $20,000 in private student loans — the president's plan just isn't enough.

"It is not even a drop in the bucket," Cheryl, 53, told Insider. "If you wanted to make a real difference, you could do away with half the interest we've accrued, but for now I'll never be able to cover the payments."

As a teacher in Massachusetts, Cheryl had to take out student loans for her bachelor's degree in English and her master's degree in education. While she said she has no problem paying back the debt she borrowed, the problem is the interest that accrued while she was in school and her loans were in forbearance. That's making it nearly impossible for her to touch her principal balance at her current income level.

 https://www.businessinsider.com/meet-teacher-303000-student-loan-debt-biden-forgiveness-not-enough-2022-5