I went to College in New Jersey, got very minimal federal aid and zero state aid to help pay for my tuition. I come from a single parent family where my mother refused to co-sign student loans for me, let alone help pay for my tuition. I was stuck getting the only loans I knew how to get without having a co-signer. Sallie Mae graciously approved my loan requests and hit me with 14% interest while in college where I worked full time and was a student full time. Now, three years out of college I struggle on a daily basis trying to pay my $600 loans on top of the rest of my living expenses since my parents have never been in the picture to help me out.
It it absolutely absurd that after 3 years I can’t even consolidate the private loans I have without a co-signer. I did not go to school to be a doctor, lawyer, or scientist where having a huge student loan payment would be somewhat understandable. Something has to be done, students should not be punished for wanting to get an education. Everyone in this generation is set up for failure right out of college.