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Meet a 30-year-old with $110,000 in student debt who chose her job in hopes of public-service loan forgiveness — but her balance just keeps growing [People who are this dumb should not be allowed to borrow money]
Insider via Yahoo ^ | October 30, 2022 | Juliana Kaplan

Posted on 10/31/2022 5:17:44 PM PDT by grundle

Kjerstin Laine. Courtesy of Kjerstin Laine

Like millions of student-loan borrowers, Kjerstin Laine is in loan-relief limbo.

For Laine, a 30-year-old who has over $110,000 in student debt, the $20,000 in forgiveness she's set to get from President Joe Biden's plan is just a drop in the bucket. As a first-generation college student whose debt has shaped the trajectory of her career, she fears her balance will balloon even more after pandemic-era payment pauses end and interest starts accruing again.

"I never miss a payment, always on time, and yet my balances never go down," Laine told Insider. "I don't understand how people can't see that there is something wrong with that picture."

Despite working through college and taking measures to cut down on the cost, Laine completed her degree in 2014 with a grand total of $98,000 in debt from her undergraduate and graduate studies. In the eight years since, accruing interest has brought her balance to today's amount, despite her consistent repayment.

She went on to a "dream school" for a master's in journalism, still working part time and leaving with an additional $80,000 in debt in 2014. At the end of her time in school, she was hospitalized for dehydration after she said she ran herself ragged.

Despite consistent payments, the years since graduation have seen Laine's debt grow.

"I was paying $300 until the pandemic hit. I was paying $300 a month, I think, for three to four years, and my balances never went down," she said. "They always went up."

(Excerpt) Read more at yahoo.com ...


TOPICS: Miscellaneous
KEYWORDS: aloanisnotagift; bidenbimbo; duhh; economics101; kjerstinlaine; millennialdummy; nitwit; nofashionsense
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Her monthly payments are way too small. That's why her balance kept going up instead of down. People who are this stupid should not be allowed to borrow money. And try drinking some water.
1 posted on 10/31/2022 5:17:44 PM PDT by grundle
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To: grundle

Look at the bright side for her - she can blame her debt for the reason that no guy (or whatever) wants a serious relationship with her.


2 posted on 10/31/2022 5:20:53 PM PDT by BobL (By the way, low tonight in Estonia: 37 degrees)
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To: grundle
A journalist [aka Failed English major] who also can't do arithmetic [innumerate].

What could possibly go wrong?

3 posted on 10/31/2022 5:20:56 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: grundle

Paying the absolute minimum. Does she not understand how this stuff works? Manifestly not.


4 posted on 10/31/2022 5:22:11 PM PDT by ClearCase_guy (We are already in a revolutionary period, and the Rule of Law means nothing. )
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To: grundle

Educated derelecks.


5 posted on 10/31/2022 5:22:42 PM PDT by HighSierra5 (The only way you know a commie is lying is when they open their pieholes.)
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To: grundle

Journalism degree. LOL. N


6 posted on 10/31/2022 5:24:12 PM PDT by KevinB (Word for the day: "kakistocracy" - a society governed by its least suitable or competent citizens)
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To: grundle

> People who are this dumb should not be allowed to borrow money. <

People this dumb (naive, actually) should not be lent money. But unfortunately we are dealing with the banks and universities vs. naive kids. The naive kids are gonna lose most of the time.


7 posted on 10/31/2022 5:24:32 PM PDT by Leaning Right (The steal is real.)
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To: grundle

And yet oddly enough she wants my daughter and her husband who graduated with zero debt to pay off her loans. My daughter worked and saved to do her graduate degree. Again no debt


8 posted on 10/31/2022 5:24:46 PM PDT by Nifster (I see puppy dogs in the clouds )
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To: grundle

Anyone with hair that color is too stupid to do math. Plus a journalism degree is never going to increase your earnings enough. Go to Macdonald U become a manager and then an owner


9 posted on 10/31/2022 5:26:14 PM PDT by Nifster (I see puppy dogs in the clouds )
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To: grundle

Journalism. Sigh....

Lady, journalists are a dime a dozen. You went to an expensive school for a degree that pays s**t. You should look up the phrase “cost/benefit analysis” and maybe even understand what it means.

I will admit that when I interview technical job candidates with purple and green highlights in their hair I eliminate them immediately. However, I always find that there is a very legitimate reason for rejecting them other than their highlights.


10 posted on 10/31/2022 5:26:28 PM PDT by 17th Miss Regt
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To: grundle

Go to school. Become awash in debt. Leave convinced that you are smarter than everyone else.


11 posted on 10/31/2022 5:26:55 PM PDT by BRL
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To: grundle; dfwgator

Knew a pretty girl about 11 years ago

She had $150,000 in college debt

Told me she was think about going for her Master’s

In what, I have no idea

Good professor

He really seems to care

About what, I have no idea


12 posted on 10/31/2022 5:28:51 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: grundle

Colleges should be required to cosign these loans. Suddenly they will lose enthusiasm for admitting unqualified students.


13 posted on 10/31/2022 5:28:56 PM PDT by SauronOfMordor (A Leftist can't enjoy life unless they are controlling, hurting, or destroying others)
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To: grundle

Where’s my $20,000 Joe?


14 posted on 10/31/2022 5:29:39 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: grundle

College wouldn’t be so expensive in the government hadn’t got involved.

My tuition doubled every year after Guaranteed Student Loan came into play.


15 posted on 10/31/2022 5:30:06 PM PDT by lizma2
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To: grundle
… for a master's in journalism…

This is all you need to know, the blue haired babe is dumber than a red brick.

16 posted on 10/31/2022 5:31:25 PM PDT by immadashell (Save Innocent Lives: Ban Gun Free Zones)
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To: grundle

.....her balance just keeps growing.....

What Is Capitalized Interest on Student Loans?

https://www.nerdwallet.com/article/loans/student-loans/student-loan-interest-capitalization#:~:text=Capitalized%20interest%20on%20student%20loans%20increases%20the%20total%20amount%20you,as%20during%20deferment%20or%20forbearance.

https://www.washingtonpost.com/education/2022/07/09/biden-student-loans-interest-capitalization-limits/


17 posted on 10/31/2022 5:32:54 PM PDT by oneandfinished
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To: grundle

A single woman making 90K now should be able increase her monthly amount. I lived in LA making a third of that and was able to save tons of money.


18 posted on 10/31/2022 5:34:21 PM PDT by peggybac (My will is what I wanted. God's will is what I got.)
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To: grundle
For Laine, a 30-year-old who has over $110,000 in student debt, the $20,000 in forgiveness she's set to get from President Joe Biden's plan is just a drop in the bucket.

$20k forgiveness on a $110k loan is NOT "just a drop in the bucket", it's 18% of your loan paid off by taxpayers who have real jobs, and can manage a budget.

19 posted on 10/31/2022 5:34:29 PM PDT by AF_Blue (My decision-making skills closely resemble those of a squirrel when crossing a road)
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To: grundle
She went on to a "dream school" for a master's in journalism

I guessed before I clicked...

$300/mo on a $100K loan? I see she skipped math.

20 posted on 10/31/2022 5:34:31 PM PDT by ETCM (“There is no security, no safety, in the appeasement of evil.” — Ronald Reagan)
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