>> After a decade, she hadn’t climbed the corporate ladder at any firm
She’s a victim! Won’t you help? A mere $2 per day from each of you will help “Cathy” escape her life choices and thrive as the well-off retiree she DESERVES TO BE. Contact socialist publication Business Insider for details on how YOU CAN HELP Cathy!
You may already be kicking in $2/day for folks like “Cathy”.
In my law practice I regularly see people in their late 50’s/early 60’s with hundreds of thousands of dollars in Student Loan Debt - essentially all of which is taxpayer guaranteed - and little or no assets. Several years ago I met a prospective client who had $588k in student loan debt from undergraduate, medical school and two master’s degrees which he earned post MD while waiting to get accepted into a residency program. He was never accepted, for whatever reason, and earned about $1200/month as a tutor when I spoke to him. His loans were coming out of deferment at that point and the minimum payment was starting at $8,100/month.
That story was the largest excess in student loan indebtedness until I encountered someone with a $756k balance after having paid off 8% of her student loan balance over some long stretch of time. Just as I began consulting with her, she let me know that DOE had sent her a letter announcing the forgiving of that balance. She was happy to offload that on the back of the taxpayer.
That is the record for now, but what may be lurking ahead? There seems to be no upper limit n the total indebtedness possible under federally guaranteed loan programs.