Another classic example of drowning student debt
By kingparker
@kingparker (9673)
United States
June 6, 2012 7:41pm CST
A friend of mine, who was studying in chiropractic for a full 4 years. Now graduating with a full student debt of himself. It was amounted to over $100,000, and this business chiropractic wasn't as good as it seems to be promised. Before, he used that loan to pay for his meals, apartments, and other expenses, now, he just couldn't pay for it. He even defaulted on the loan, now applying to consolidate it. He moving back in with his parents, and getting some customers from time to time. He told us, he couldn't even apply for bankruptcy to clean it out. I understood it is tough for everyone, especially people without enough money to pay for their education. My advice, if you can't afford your education at the moment, hold on to it, until you have enough money, gradually pay for your classes, or attend part time.
1 person likes this
4 responses
@randylovesdar (4932)
• United States
16 Jun 12
Being a graduate student myself I can understand your friend and think it is great that he went back to school to better his life. I have debt mysef, but I am glad to have my two degrees and am working on a second Masters Degree. I have not been able to find work so I felt that attending college is the best thing for me. Has he tried calling the student loan companies and asking if they can allow him to pay off the principle and defer the interest. That is what I am doing now and it is helping me. I am hoping once I make enough money online I can pay more than my minimum. I would never put my education on hold.
@sajuman (1854)
• India
7 Jun 12
That is good.But in my opinion if you have any chance to get the money without much risk , you go for the education.Because education at the early age will be always the best, and continuing education is very best.Thus is my personal opinion.But don't take any high risk.
@maximax8 (31053)
• United Kingdom
7 Jun 12
I feel very sorry for the student graduating with more than one hundred thousand dollars debt. He would look unsuccessful to be claiming redundancy just after completing his studies. In my home country I got free course fees for my degree course and a living expenses grant. In my third year I was having more expenses so I got a student grant of just one thousand and two hundred and fifty pounds. When I began my teaching career I paid back twenty two pounds a month. I got fed up with that low amount of money and paid a few hundred pounds a few years later to end that debt. Maybe he could get a work permit for the UK and work there in his medical field. Good luck to him.
@SinfulRose (3527)
• Davao, Philippines
7 Jun 12
This is very unfortunate indeed. Cases like this fails to disappear especially when the student in question doesn't have any funds to support his own education. This is one of the cases where my father's beliefs could not be applied--"one should continue to go to school and not stop until one is finished".
Unfortunately for him, I disagree.
