I went to college when it was “affordable”, certainly more affordable than it is now. I was a single mom with an 8 year old when I started college in 1986 at almost 30. I took out few loans for undergrad, thanks to Pell Grants. There was twice as much money available in Pell Grants back then. I had to take out more loans in graduate school. Even though I had a fellowship, survival as a responsible parent required loans. Note that when you apply for financial aid, or earn a fellowship, it only covers the applicant, not dependents, so young parents start in the hole.
I’m now in my 50s, disabled on a walker, on Social Security. Although I am deemed disabled by Social Security, not so for financial aid. It’s an even higher standard to discharge your loans for disability than it is to get Social Security. Note that you have to gimp through a lot of hoops to get it. Usually, it requires an attorney to appeal the almost automatic denials of initial claims.
So, for another 18 years (20 years total), I have to complete an Income-Based Repayment form. Don’t get me wrong. I’m grateful Obama made this option available, because I had run out of deferrals. But, if I’m too ill, the bills start rolling in, adding stress to physical pain. If I end up totally incapacitated, with no one eligible to complete the form for me, my loans will go to collections. Isn’t that great?
My heart aches for single parents, especially, hoping for a degree. It’s practically impossible to do without at least $60,000 in loans, with today’s tuition costs, book prices, and the need for laptops. Current policies condemn so many to give up their dream. I managed to get my education, but scarcely had time to earn twice what I had earned before getting my degree, and never got to repay my loans, small as they were.
My loans have more than doubled with all the deferrals. It’s like a quicksand. And, thanks to a lousy HMO, I’m too disabled to earn or enjoy all I worked for.
