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Higher education is meant to get you ahead of the competition. But if you study in the US and have to pay tens of thousands of dollars for it, in a way, the diploma also sets you back. While the country remains the world's most popular destination for international students, it's also among the most expensive choices. However, the locals have a pretty hard time paying for it too.

A few days ago, American Twitter user Wee-Yum shared a screenshot of their student debt: $82,649.35. "This is my student loan amount," they wrote. "I don't stress because it ain't ever getting paid off." In order to find solace, Wee-Yum asked others to share their numbers as well.

Since this has been such a hot public topic, it didn't take long before the tweet went viral. Generating over 93.4K likes, it has received plenty of replies with staggering dollar amounts. Sadly, you can feel that some of the people who shared them seem pretty hopeless about it.

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Viz
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Every step forward you take you go two steps back. So: don't pay it off and it will disappear!! ...I think.

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BG
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

It's a federal loan. You owe that money to the US government. It doesn't go away, not even in bankruptcy. If you fail to pay it, they will take it directly from your salary at any amount that they see fit.

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Richard Newell
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Some fellow students used their student loans for spring break and cars. I don't feel sorry. I got my masters with zero student loans. I worked during college making money anyway I could. Now I make good money and have time to do the things I love. Zero of my paycheck goes to paying student loans. :)

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Patricia Brown
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Part of our national shame. This must be changed for the better.

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Ana Solo
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Stupid question. Why don't you overpay those insane debts? Every year more and more interests, how is this possible?

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Agnese Purvinska
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

@ana solo they re-sell the loan between companies with interest added to it, so every time they sell it is a larger and larger amount and then the new company adds more interest to that amount. The borrower has little say in when and how the loan gets sold.

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Ramūnas Vanagas
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I don't understand why you all agree too such terrible conditions? That diploma is not worth such money. I would rather become builder/self learned programmer/other than pay such ridiculous amount of money.

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Rod Ruger
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

When banks provide a loan, they take a risk; they gamble that you will pay it back, with interest. They say that interest covers their risk that you may not pay back the loan. Creditors gamble just as do people who play craps. Sometimes you lose. Banks always win against the individual who follows the by rules (made by business). The game is rigged by the moral code: “always pay your debts”. Tell that to the thousands of businesses that declare bankruptcy each year. (Student loans are not susceptible to bankruptcy – another rule instituted to protect lenders, but do not protect you.) Tell it to Donald Trump who owes and will never repay $ billions. Tell it to the important people to whom Trump gave $trillion in tax breaks. Use the mortgage debacle as an analogy. If all student loan debtors stop paying, the loans will disappear. If a few of you do so, you are doomed. Unite and cause the creditors to lose their gamble.

rod_ruger avatar
Rod Ruger
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

When banks provide a loan, they take a risk; they gamble that you will pay it back, with interest. They say that interest covers their risk that you may not pay back the loan. Creditors gamble just as do people who play craps. Sometimes you lose. Banks always win against the individual who follows the rules (made by business). The game is rigged by the moral code: “always pay your debts”. Tell that to the thousands of businesses that declare bankruptcy each year. (Student loans are not susceptible to bankruptcy – another rule that protects lenders, but does not protect you.) Tell it to Donald Trump who owes and will never repay $ billions. Tell it to the important people to whom Trump gave $trillion in tax breaks. Use the mortgage debacle as an analogy. If all student loan debtors stop paying, the loans will disappear. If a few of you do so, you are doomed. Unite and cause the creditors to lose their gamble.

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Brandy Grote
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Easier to go bankrupt, take 7 years, rebuild credit, live your life.

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Jill Bussey
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Asking from the UK; how much would it be to buy a small studio apartment?

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Daniel Laflin
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

My college loan amt: $0 I saved , paid, worked, paid my way through college in 1970's Only Fools borrowed $$$$$$ If need big loans to go to college..take a year or two amd WORK, getting work experience, save and then go a bit later if didnt save from whatever jobs did as a kid or later while in HS 82,000... would have years back bought a nice house And college was overly pushed, one could have gone to trade schools and be making $25 a hr as a plumber etc

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DKS 001
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Mine has been $30,000 since 2006. I've paid towards it, it's been in hardship status, it's been in deferment, I've paid minimum, I've paid more than that. Because interest is around 25%, it never seems to change. So ... whatever. It'll be with me for the next 40+ years.

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Mewton’s Third Paw
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This is my take. Who cares. My credit is good from all the other stuff I’ve done. They can say I owe, and I can continue to come up with reasons to not pay. Fück them.

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The data on the topic is becoming difficult to comprehend: the total amount of outstanding student loans reached an all-time high in 2020—$1.6 trillion. Based on the current rate of growth, this number can reach $2 trillion by 2024.

About 43% of Americans who went to college took on some form of debt in order to get through their studies. However, when it comes to today's students, the situation is even worse. Roughly 54% of them need to borrow money to cover their educational costs.

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Sk FaiXan
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

WAIT WHAT!! THAT IS CRAZY AMOUNT OF MONEY I MEAN WHAT HAVE THEY TAUGHT YOU TO COST THAT MUCH ,YOU GUYS SHOULD BE ABLE TO BUILD ROCKET IN YOUR BACKYARD

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Most of this debt is carried by younger adults. Borrowers between the ages of 25 and 34 carried roughly $498 billion in federal student loan debt as of the second quarter of 2019. Adults ages 35-49 carried even more debt, with student loan balances totaling $558 billion. Meanwhile, those who are 50-61 owe about $230 billion in student loans.

Kelley Marie, one of the people who contributed to the thread, was already a mom when she took her student loan. "I knew I needed to do better for myself, for [my kids'] sake as well as mine. I simply could not afford college on my own, so it was a risk that I simply decided to take," she told Bored Panda.

Her total debt at graduation was about $65k. "I have both federal loans and private loans," Kelley said. "When I first graduated the payment was undoable, something like $750+ so I deferred my federal loans and ended up on interest on for my private ones. It piled up for the first several years (my first job out of school only paid about $30k) and at that time I was a single mom to two kids."

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The program Kelley wanted was a private university and there wasn't another one in the area where she lived. "I want to say that maybe I would have chosen another field, but that really sucks to be stuck in that situation. I don't know how I could have worked more (I freelanced during college) between full-time classes and being a mother. But that being said, my older girls are now 18 and 16, and I am pushing them to take out as few loans as possible. Me drowning in my own loans kept me from saving for their education. But I can help them navigate the system in a way my parents did not. Searching for jobs that offer grants, and comparing schools."

Another Twitter user who shared the details on their situation was @LBoogie5. They said they wanted to complete their dream of going to and finishing college and also didn't have a way to pay for out of state tuition.

"I took about $80K in federal loans and $50k in private. With compounding daily interest the amount owed ballooned to $195K," they said. "I have since paid off the higher interest (12%) private loans ($70k in total) and some of the federal loans, leaving me with $103K left."

If they were to go back and do it all over again, @LBoogie5 said they would not take out the private loans as they don't have much payment flexibility.

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Izeek Onigbiinday said they didn't really think about it when they were applying for their student loan. "I was more focused on school and making sure I had enough money to be able to pay for my classes," Izeek explained.

"I went to a private out of state school so it was pretty expensive, about $40-50k per semester, plus having to borrow to cover my fourth year since it was all rotations which required living in different states and getting an apartment which all had to come out of pocket on top tuition."

"If I could do it again I would borrow [too] just because the reward of my career now is worth it," Izeek said. "As a pharmacist, I make enough to pay for my loans and not have to paycheck-to-paycheck and I am grateful for that. The only thing I would probably change is deciding to go to medical school, only because I would have the opportunity to specialize and make even more money."

For Scott Quenette, another person whose tweet you can see in the thread, a student loan was the only way to go to college so he took it on as a necessary evil. "[My] loan total is around $150k, including interest," Scott told Bored Panda. "I've paid $18k so far and it's all been interest so I just assume I'll be paying it forever. It's all federal so it's manageable. Just an annoying bill every month."

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If he were to go back in time and plan his higher education all over again under the same circumstances, however, Scott would probably make the same decisions. "I might try a few things differently so I could actually pay it off but at this point, it's not breaking me."

"My overall point has not been 'get me off the hook for this' but that I could be putting that money into the economy, this is an economic stimulus more than anything," he said.

Yes, the sheer size of student debt weighs not only on the millions of people who owe it but is a burden on the U.S. economy as well. About 92% of student loan debt is backed by the U.S. government, making it a huge political issue.

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Grumble O'Pug
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Not wise. And more sad is that this will affect her ability to buy a home, a car, and even get a job in the finance industry.

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Viz
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I'm pretty sure the Lord doesn't believe in the power of money.

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Cynthia McDonald
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I started repaying my loans (I was 1 class short of finishing my bachelors) in 1997. I never defaulted but I did defer and forbear. I originally took out less than $10K, it's now $26k, I've been paying for over two decades

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konnarw1
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

wow...i am glad i am not in college yet but soon I might be taking some college classes(i am 13 and in 8th grade lol)

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Curry on...
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I wanna know what kind of job she has that would pay enough to clear up almost $300K in 2.5 years.

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A.M. Pierre
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I'm curious where she lives that 60k isn't enough to live on. New York or San Francisco maybe? Or maybe I just live in an area with a way lower cost of living than everywhere else and didn't realize it.

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Tabitha L
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This is awful. This person was scammed, and did not receive qualifications. They should not have to pay.

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Mewton’s Third Paw
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

It will go down once you finish that little program. After that, this person should never contact Navient or whoever again.

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I want cake
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Bloody hell, if I had to pay that out of my monthly wages I'd have nothing left after all my bills were paid. I mean literally nothing. And I have a decent job as well.

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Mewton’s Third Paw
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3 years ago (edited)

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If Biden forgives $10k, I still don’t think I’ll bother to pay the remaining $1k I would owe. Why would I? It really doesn’t matter.

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David Retsler
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

THIS! Be a student your entire life. Put all of your earnings into an irrevocable trust so when you die the money passes to someone other than these pieces of shirt banks.

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David Retsler
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

If you're expecting a CONgress that only gave $1200 one time to help people with COVID to do anything to help you, you are going to be GREATLY disappointed. They couldn't care less about you if they tried.

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