Blog Ipsa Loquitur

Published on under Amen, Sister

From the Washington Post’s Ellen McCarthy, a slice of life piece on one librarian’s life under a growing cloud of student debt. Just your typical story about a young parent with a home and a car and a job and the crushing psychological weight of knowing you’ll make loan payments until you die:

Three years ago, when she finished her master’s degree, Sarah’s student loans totaled $60,000. She has paid steadily ever since and now owes $69,000 — more than twice the annual income she earns working as a children’s librarian.

“I keep paying,” the 31-year-old says. “But it’s like pouring into a bucket with no bottom.” […]

The glimmer of hope Sarah clings to is her enrollment in a public service student loan forgiveness program that would clear her remaining debt if she puts in seven more years of work with the government and continues to make payments on time. But she’s heard horror stories of borrowers being disqualified from the program — which is available to people who work for the government or certain nonprofits after they have paid their loans on time for 10 years — because of a paperwork error. And she’s terrified the program will be quietly eliminated. (President Trump’s 2018 budget proposal did suggest cutting it for new borrowers but would still forgive debts of people currently enrolled.)

​Same, Sarah. Same.