What is Student Loan Debt?
A lot of Americans are graduating under student loan debt and the number is rising each year.
It is over $1.3 trillion, what the student loans are owed mostly in the U.S and on an average class, the students that finished owed almost $37,000. Having debt from school can be pretty frustrating, it will really bother anyone, right? Just relax, do not let that debt take control.
A lot of celebrities were also in the same position before, they also had to pay off some student loan debts. Even those celebrities are still paying off the debt today.
You can check out the celebrities that were in the same shoes that you are in today.
The One and Only President Barack Obama
You should know that Barack Obama was also in the same shoes you are in right now. Even Barack Obama was under a lot of stress when he was finishing in Harvard, he had a lot of student debt. He was unable to pay everything right away, he finished paying right when he became a U.S senator.
Even his wife, Michelle Obama also took student loans. The couple also mentioned that it would have been best to have just saved money for their daughter’s education. And instead of saving up for their daughter’s education, they spent everything on their loans.
Around the year 2010, president Obama implemented the Obama’s Loan Forgiveness program. Obama made sure that his program will be able to save a lot of borrowers. The program affected the interest also end of term and other repayment factors for the student loans.
Cecil Shorts was Once Just Like You
The NFL professional receiver, Cecil Shorts never had a athletic scholarship. Cecil Shorts was able to finish his education because he was working on some part time jobs and he also took some student loans. He got a total of $70,000 in student loan debt.
You should know that Cecil Shorts even had grass cutting jobs. He said that it would be better to work during summer vacation to be able to save up for the tuition.
The world is hard sometimes, it kicks you down and you should never let that be the end of you, you should keep on fighting like these celebrities that went from a poor lifestyle to a rich lifestyle because they were able to persevere.
You should keep on moving up and never quit working hard, it can all change when the going gets tough, you will be strong enough to handle that kind of problem.
You should pay off the debts after you graduate and once you get a good job, you can start with paying off the debt right after.