Student Loans & Politics: Are You Still Paying Yours?

When my husband and I got married, we married each other and we married each other's debt. I think we had something like $28k in student loans from my husband when we got together, which we started paying off immediately. Those were the good old days before mortgage and a kid, and we were fortunate to have jobs that paid damn close to what we make combined now, eek, ten years later. If we had to pay those loans off now on top of childcare and all the stuff that comes with rising utilities and food costs and house repairs, we would be in serious trouble. Even back then when everything was (relatively speaking) flush, I lived in fear of being in default of those loans, because what would that do to our credit rating and our ability to buy a house or a car or get a job in the future? Messing with your government loans is serious business: the government can seize your tax returns, garnish your wages and more. ...more
 @jessicasalamon I was one of the fortunate to be paid to attend undergrad through PELL, SEOG, ...more

How Necessary Are Credit Cards?

When I was 20 I worked at a large bank in their credit department. All day long I stared at the balances and payments due on the loans, mortgages, and credit cards of the members of this bank. I had the unfortunate honor of sending out collections letter, fielding phone calls from members whose cards had been declined, and making sure their payments posted to their accounts....more
In about 6 weeks, we will make our last revolving credit card debt payment through a credit ...more