Last week, President Obama proposed some relief for graduates with student loans. But for too many, decisions made in college on student loans continue to haunt them. Edited for clarity.
My daughter graduated from Gonzaga University in May 2013. Although she received grants and other assistance, she accumulated about $20,000 debt, herself. And I took out $80,000 in Parent Plus federal loans. My monthly payment is $630, with 8.1% interest over the next 25 years. I plan to use my retirement to pay off loans. Luckily, my son went to local community college and we have only borrowed about $6,000 in Parent Plus loans so far. My two youngest kids are several years away from college, and I told them all my kids that we'd just do the best we can for them.