Wednesday, June 27, 2012

How Long Does it take to pay off a student loan?

If you get a job right out of college, maybe two if the first one doesn't pay very much, and don't get married or have kids, you could probably pay it off in 3 years. At that point, you'd have your student loan paid off, you'd know your significant other for 3 years so chance of a divorce is less likely, and you'll have a better marriage and life for it. (And why are your loans so high? Couldn't you have gotten a job during summer to earn money to help you pay off those college bills?)
RUSH: There's a couple things happening out there involving young people. This student loan thing is big. Yahoo News has a story today. They found a bunch of recent graduates talking about their student loan debt. And it ranges from $80,000 up to over $200,000 among the people they found. And these people are devastated. These young adults are saying they're not gonna have money to get married. They're not gonna have money to buy a house. They're not gonna have money to live a conventional life as they've seen it and been exposed to.

One woman even says to the writer of the story, "My boyfriend won't marry me because I'm $135,000 in debt and he doesn't want his name on it." Which we all know the answer, but I don't dare speak it here. (laughing) What are you doing marrying a guy who can't pay off 135 grand? Anyway, it's big, folks, these young adults to whom normally the national debt and deficits wouldn't matter a hill of beans are getting firsthand experience at what it does mean. And who put them in debt, who runs the student loan program? It's Obama. Who's out there pushing these things? Who's out there getting everybody in debt? The government. I don't know what they're complaining about. They get free birth control. Isn't that all they care about? That's what Obama wants us to believe.

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