Millions across the nation are facing or will soon face large student loan debts, something many of you nurses know about all too well. Last week, Congress passed legislation to keep student loan rates at their current 3.4 percent for another year. Without the legislation, rates would have doubled to 6.8 percent.
Even with interest rates remaining relatively low, loans are still placing a heavy burden on those struggling to pay them back.
The USA Today recently featured a story about 27-year-old ER nurse Kathleen Bijas. Bijas has a steady job and makes a fairly comfortable salary of $60,000-a-year. However, she has student loan payments of more than $1,600 per month. How does she make ends meet? She lives with her parents. Also, with her money situation the way it is, she describes the idea of getting married or having kids as “frightening.”
What sacrifices are you making (or have you made) in order to pay down your student loan debt?