I am paying the student loans for two of my children. Once graduated in 2009, the second quit in 2011 after sophomore year. Both school required that I apply for several loans, and each came with a hefty loan amount. I am still paying off my adult children’s student loans, and the balances did not go down with only making the minimum payment. Don’t be fooled by these lenders. They will take over your life and keep you crippled with debt for a lifetime. At 62 still paying, and will probably go to my death bed owing money.