Description: The passage is about sofi student loan refinance. the content mentions that one student has the student loan because she went to Tufts University to study drama and communications, since she does not want to make her life so hard and be affected deeply by the student loans, she decides to do something to change the situation.
My name is Brittany. I went to Tufts University. I studied drama and communications and I owe a hundred and eighteen thousand dollars in student loans, it was explained to us, as everybody has student loans and this is something you do to get ahead in life, taking loans out was part of what everyone had to do that they weren’t going to affect my life.
I didn’t understand the magnitude of them until I graduated, I graduated college in 2009, so it was the height of the economic recession and the jobs crisis, everybody had to move back home and reassess what to do.
Then I started getting the phone calls which say that you’re out of school, you have to start paying back your student loans and your minimum amount is astronomical, so my total do for this month seven hundred and seven dollars and 74 cents, what will be applied to the principle sixty four dollars and fifty four cents.
So the principle is the total amount of loan like money that I took out what will be going to the interest six hundred and forty three dollars and twenty cents, the interest is not money that I borrowed, it’s what they’re making off of having lent me the money in the first place.
So most of this money is going towards interest in total interest paid on my loan, it’s forty eight thousand three hundred and seventy nine dollars and seventy five cents, that’s most of all the money paid towards the loan has gone towards interest.
So my principle is that it goes down, my debt isn’t going down, I’m paying the interest, one of the things I do when I am short on money is that I go through my closet and see if there’s anything that I can sell.
I bought this dress for a tea. I love it not going on many T’s anymore, so all these empty hangers are from things I’ve sold, so get into the bare bones of it, all selling the clothes, it doesn’t cover my rent, but it is extra money towards my student loans, I’m a freelance production assistant, I also work at a dance studio as a receptionist and I also work for a temp agency, I only took out money for loans to go towards my tuition costs and I had a job for paying for books and housing portion.
I felt something in the middle of a hard situation with my family having more money than being extremely poor, so we didn’t qualify for a lot of grant money, but I have other siblings and my family had responsibilities, so they didn’t have enough money to help me pay for college was my car.
So this was a car accident where he sighed, hit me, one good thing about it was that I got a check, but I didn’t use it to fix my car, I used it to pay my student loan, I hope I get some decent money from my clothes, it’s hard to feel, I can’t afford rent, I can’t afford to eat out, it’s like I can barely afford groceries and it’s all because of this student loan debt.
I’m grateful that I went to a great college, they can’t take away my education, but they’ve tried to take everything else to have a drink of alcohol, you have to be 21 to take out a hundred thousand dollars worth of debt.
You can be 18, you can do that and I definitely did not understand what I was signing up for, no one explained it to me, it’s scary to hear things even if you die, your family or next of kin will be responsible for paying these loans.
If you’re completely bankrupt, you are still responsible for paying these loans every day, I call Congress, my name is Brittany King and I’m a constituent from Los Angeles and I was calling to know what you are doing about student loan reform, one of the only deductions I get on my taxes is the interest, I pay on my student loans and with this bill, that would no longer be an option, it’s crazy that I’m paying $48,000 in interest and that would no longer be able to be deductible for me and it feels like I’m down and they’re kicking me, I don’t understand why you would make a tax bill as to people who are literally trying the student loans and now you can’t even deduct the crazy interest.