Now this here is a well written, nice, solid post. I’m glad I can be the example also.
That is a grey area that needs to be addressed concerning student loan forgiveness. Many people work the system— apply for college, register, take out a loan, then wait for classes to be paid for, get the student loan “kickback” then drop the classes, never attend, and repeat this process, for many more semesters. Then, apply for student loan forgiveness.
Then you have the dedicated college student—attends all classes, works their ass off, graduates in student loan debt. Most government student loans are capped at 6.5%, and 20-25 year payback schedule…depending on other factors though. Now imagine someone spending 20 years of their life paying off a loan, and then a kid getting loan forgiveness of 20k immediately, that slashes off years of payments….they’re arguments on either side of this issue.
You are exactly right, the majority of student debt is from the non typical student over 40, and the majority will be 65 by the time the loans are paid off…ridiculous!
My Advice: Get a degree in teaching, or criminal justice areas, degree in science, mathematics, engineering, or IT. Those are the fields that get the most help with loan forgiveness if a government “handout” is not in your interest.
Again, great post Yolo