A writer and professor’s thread about student loan debt has inspired people to talk about the debt they’re facing, and the amount is truly staggering. Lacy M. Johnson, whose PhD is in creative writing, revealed that despite making timely payments for over a decade to pay back the $70,000 loan she took out, almost equaling the amount of the loan in the first place… it hasn’t gotten any smaller.

The responses to her thread tell the same story: after decades of trying to pay back their loans and getting absolutely nowhere due to rapidly and unpredictably increasing interest, people feel almost like they are being punished for life just for getting an education.

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mgiannonemd Report

Callie Callie J. 1 month ago

It's really unfair, illogical and disgusting that this happens to people. I pay student loans, too. I am thinking I'll never finish paying, either.

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saturnineba Report

Goli Soda 1 month ago

Sounds depressing just reading it! Education should be affordable or easily payable.

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Student-Loan-Debt-Impossible-Pay-Stories

amyamyamyo Report

George-Florin Constantin 1 month ago

How the hell are these monthly payments calculated in the US? In Europe, each monthly payment consists in one part interest and one part loan. The proportion between interest rate and base loan changes as the years pass, but you actually pay back a portion of the loan starting with the first payment. You can't actually owe the same amount that you loaned, after 11 years of on-time monthly payments. This is legalized theft, pure and simple. And a good way to keep you down and in your place!

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Disturbingly, a person from a wealthy family with enough in the bank to pay for university tuition at face value pays less, while those who don’t are forced to spend years after graduation dumping their money into a black hole that can expand to twice the size of the loan itself.

And as you can see from the stories that keep pouring in as responses to Johnson’s tweet, people in the US are accepting that they’re never going to buy homes, get married, have children, or retire because of it. They’re certainly not enjoying the benefits of the careers they had to get a higher education in order to gain access to.

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MyP_Chicago Report

RJ 1 month ago

Evil. They should at least do it interest free.

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Angela Ortega 1 month ago (edited)

Highway robbery. Equal to putting a gun to your head.

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Zenozenobee 1 month ago

Lol, excuse me what???? I never love France as much as when I read about US healthcare and student loan...

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Johnson, who started the Twitter thread, stated her support for presidential candidate Elizabeth Warren. The candidate has proposed a plan to cancel or majorly reduce student loan debt for most borrowers based on income, funding the cancellation by driving up taxes on ultra-millionaires.

She’s not the only US presidential candidate looking to fight this problem—Bernie Sanders’ goal is to completely erase student loan debt by taxing stock transactions.

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liddlemocovfefe Report

Kim Lee 1 month ago

Demi Zwaan, please do us all a favor and take your negativity and immature comments somewhere else. All your comments just get hidden from all the downvotes, so you're just wasting your own time

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Student-Loan-Debt-Impossible-Pay-Stories

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Vicky Zar 1 month ago

Don't they tell you in advance how much you will have to pay ultimately? I took out a loan of 10000€ and knew I would have to pay 19000€ in the end, because I chose a very low monthly repayment.

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Student-Loan-Debt-Impossible-Pay-Stories

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Stacie Wyatt 2 days ago

wow

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Proponents of forgiving student loan debt believe that it would reduce social inequality, incentivize higher education, and enable more people to buy homes and start businesses.

With the US presidential election coming up, people who are being held back by debt will likely turn to candidates who consider solving it a priority.

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Betsy_Manning Report

Kim Lee 1 month ago (edited)

For those of you knocking an Art Degree: Look around you. This website, all websites, all marketing, all the cute packaging you get with the things you buy, all the clothes you wear, advertisements that make you want to see something, movie posters you treasure: All Art degrees. Some of you have your heads too far up your own arses to see this, thinking you can make a 'clever' joke or feel better about yourselves because you THINK you've put something down but instead you've made yourselves look like uncultured, unthinking idiots. Congrats Raul, AV7, Jeremiah Pierce, and Demi Zwaan for being such childish, idiotic caricatures to watch.

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NanZ 1 month ago

Agreed!

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Student-Loan-Debt-Impossible-Pay-Stories

Chaosfeminist Report

Jennifer Wilkinson 1 month ago

Same situation. Finally finished my bachelors in 2015. Over the years I borrowed the max $53,500. I was suckered by one online university. Come to find out I was completely bamboozled. The AA amounted to nothing. It's embarrassing to even put it on my resume. I now owe $115k in student loans and will never be able to pay it off in my lifetime. This was and IS a huge scam that guaranteed a revenue flow and keep us under the govt. thumb. It's criminal. Loan sharks don't charge this much.

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NanZ 1 month ago

These lenders are loan sharks and need to be stopped!

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Karmathebeagle Report

ilikeplants 1 month ago

Most school loans die with you, so your not leaving them for the family.

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Katinka Min 1 month ago

Wait, GOVERNMENT loans have that kind of interest on them??? Christ, the US are truly and deeply fu*cked up.

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Zenozenobee 1 month ago

I really have trouble understanding how this is possible....

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Andrew Wildman 1 month ago

Full Name, I think you’re misreading it. She’s saying she has to defer, otherwise she can’t afford to pay and live at the same time. As a result, she pays instead the $50 which is probably a minimum per month.

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Grandpa_Rufus Report

Al Kenny 1 month ago

Once the government started backing the loans isn't that when they started to skyrocket and every college and Uni course started to cost the moon and stars? Sounds like the schools and the finance companies are in un Holy alliance to squeeze the last drop of blood out of all the students.

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Student-Loan-Debt-Impossible-Pay-Stories

Dreamer1865 Report

Hollis White 1 month ago

I can totally relate to this! I have subcumed to the notion that I will die with this debt. I finally finished my BA, almost $80,000 later. Sine 2017 its almost to 110k, on deferment, and IBR. Now businesses want to hire real world experience not just that of an education. I'm in a 28k, temp job, no benefits, no PT, no Vaca, no sick pay and have 2 young children . Something's gotta give!! Talk about a double edge sword!!

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BatmandaForever Report

Katinka Min 1 month ago

A ruined life because a busted knee. That's the American dream for you, in a nut shell.

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mermurk1 Report

Bi Nguyen 1 month ago

The only way that we can have a solution that will be fair to all of us is to tear this one completely down and rebuild it more in line with the needs of modern people. While taking into account the respect of all living things on this planet. We can't continue to ravage this planet in our pursuit of progress. It's the mentality that we've been taught to accumulate a particular resource that we can hoard to ourselves that allows us to obtain more than another. As humans, we just need the basics to live, and the ability to express our creativity as we seek the end goal. Being a part of the world and leaving it in a better place than when we go there. Reality is the opposite. Achieve as much as you can in disregard to r the future at their expense. They are the ones who must clean up our mess

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CarleyMoore2 Report

Katelyn Crowner 2 days ago

Well You don't qualify for forgiveness simply by having 20 years lapse. you needed to be on IDR for those 20 years.

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eightfeetabove Report

Sam Rowswell 18 hours ago

That's because the interest is compounded daily. No other loans are. It's criminal and would be illegal for any other lender.

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Clint Torris 2 days ago

get off income based repayment

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Chelle Snail 1 month ago

WHY is there not a huge protest storm happening right now? This is just disgusting and illegal of the Education system in America to just rob people like that!!! I hope they end up in jail for life and that they return the money they stole from you all, by waiving these horrible study debts!!!!!! They will go to hell (and no I am not religious but I believe in karma) in time for doing this to students. Also, the question is, why don't everyone all boycott the education by not enrolling in courses? Lets see it impact the greedy business that is stealing through student loans. Never mind the few rich who can just pay upfront, there is a few of them and many more of you who are not, so time to fight back!

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Kim Lee 1 month ago

@Aernout Bakels Well, I can see from your FB profile that you drive an Audi and live in Amsterdam. Literally none of these stories apply to you

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