Image 01 Image 03

29 Year Old Man Says He Has $235K in Student Loan Debt He’ll Never Repay

29 Year Old Man Says He Has $235K in Student Loan Debt He’ll Never Repay

“Short of winning the lottery, there’s no way I could ever afford to pay off my debt.”

At some point, wouldn’t you stop your education and think you needed to get a handle on such massive debt?

From Yahoo News:

I’m a 29-Year-Old With $235k in Student Debt. I’ll Never Pay It Back.

I have $235,000 of student debt. The first $120,000 came with a bachelor’s degree from my state school. Another $70,000 or so came with my master’s degree. The remainder is accrued interest.

The suggested minimum monthly payment on my private debt alone is approximately $1,200. For reference: that’s nearly rent for the 600-square-foot apartment where I live with my partner in New Jersey.

Without income driven repayment, the minimum payment amount for my federal student debt would be around $1,000.

I would have to begin devoting half of my income to debt payment if I cared to pay it off by 2042. I can’t do that because I make just under $4,000 per month. And that income is a fairly new development in my life. Why would I choose to pay down my debt if it meant I wouldn’t be able to afford basic living expenses?

Short of winning the lottery, there’s no way I could ever afford to pay off my debt. And though I have a higher debt burden than most, I’m certainly not alone.

One in four American adults has student debt. And that amount will grow over the coming years. Seven in 10 college graduates are now graduating with student debt, with the greatest burden falling on people of color, low-income borrowers, and women.


Donations tax deductible
to the full extent allowed by law.


And what subject, exactly, is this person’s Masters degree in? Sounds like he wasted Mommy and Daddy’s money on a bullshit degree and now can’t find a job that pays enough to pay off the loans.

I’m a little confused about these stories that keep popping up.

Are we supposed to feel sorry for these people or something?

I grew up middle class. I could have gone to college after high school, but I understood that it would require student loans to do it (and this was a LONG time ago, the debt would have been minor compared to what these idiots sign up for these days). I decided I didn’t want to start my life out in debt from the get go so I found a different path.

My choices haven’t made me rich, but I’ve led a successful, comfortable life while raising a family and saving for a decent retirement.

Many from my generation chose the same path. That path is still open to people who are willing to learn a trade, put in some hard work and get a bit dirty every once in a while.

I don’t feel a bit sorry for these idiots that dig themselves into this hole for a worthless degree in a non-productive discipline.

They’re spoiled children who’ve never learned how to be an adult and make responsible, logical choices. Not my responsibility to fix problems of their own making.

I actually believe this 29 year old, but to offer to forgive these debts without underlying reform of our colleges and universities will only temporarily sve the proble..

$120,000 for a state school undergrad degree? Tuition, room and board, books, transportation, personal spending, entertainment — did he contribute in any way to his education by working, or was everything paid for by loan? Then add $70,000 for a master’s degree, all for a $48,000 per year job that apparently took a while to find. Good grief, the financial ignorance and cluelessness is appalling.

Orwellington | June 18, 2019 at 1:35 pm

Is he willing to have his debt erased if he gives up all future credit? That means having to pay cash for everything he wants—up front. No buying on time, not a car, not a house, not anything.

Somebody seems to be interchanging “want” and “need” somewhat freely and at whim.

“Why would I choose to pay down my debt if it meant I wouldn’t be able to afford basic living expenses?” (Sounds like a bit of free choice there; being a deadbeat would be a convenience.)

This is followed by

“. . . [T]here’s no way I could ever afford to pay off my debt.” (Now he can’t; but just before, he simply didn’t want to, believing himself entitled to spend the money on other things.)

Sorry, no, I’m not terribly sympathetic to his plight, real or imaginary. Pay your damn bills, like the rest of us.

Unknown3rdParty | June 18, 2019 at 3:08 pm

The next best thing he can do is not breed … we need fewer like him.

Has he considered relocating to beautiful Red China? Lots of other communists there for him to enjoy.

Ten years ago my daughter graduated with a BS in Biology (Genetics). There are no jobs in the field for a BS so she got her masters. She did get the Hope Grant for the BS. Count the Hope Grant and the money I kicked in the total cost at the state university for the BS was just over $41k and this included all expenses. She did the 2-year professor assistant program for her Masters where she received her MS tuition free, was able to use the Professor’s textbook library for her books, and earned a small stipend where that cost $13k. She is now working in Cell Therapy helping to cure cancer with a six figure salary.

It sounds like the dumb-ass that borrowed $190K had a grand time at college. He made poor choices then and continues to make poor choices now. Pay your obligation.

    willford2 in reply to Tsquared. | June 19, 2019 at 8:53 am

    HEAVY on the DUMB ASS

    bw222 in reply to Tsquared. | June 19, 2019 at 2:49 pm

    Tuition at most state schools is $10k – $12k. Room and board is about $8k (less if you live off-campus and share an apartment). Even if it took 5 years, that’s $100k. Did he work summers or have a part-time job while going to school? My daughter worked retail summers and had a part-time job at an Indian casino during the school year.

YosemiteSam | June 18, 2019 at 5:53 pm

I am forced to wonder if this ex-student ever intended to pay off the student loans. Certainly well before the mountain of debt was done this student knew the cost of paying the debt would be high.

“Why would I choose to pay down my debt….”?

Because you gave your word that you would when you signed the loan papers and accepted the money. That’s why.

A lot of people throughout human history, when faced with similar financial hardship, would go suck some dick for a living. I suggest this sniveling little bitch do the same before he comes sniffing around my wallet.

I’d like to see an itemized schedule of the costs that are associated with this pitiful boy’s story.

Odds are that he financed his lifestyle by borrowing far more than the cost of tuition, books and fees.

Going to college is not a job or gainful employment.

Given his declaration to abandon his obligation to repay the loans that he obligated himself with, I recommend that the lenders place liens on his salary, property and give notice to others about the veracity of his commitments and the content of his character.

    aka Hoss in reply to NotKennedy. | June 19, 2019 at 9:48 am

    Spring Breaks, clothes, iPhones, and Macs are expensive. You didn’t expect him to work during the summer or go without, did you.

The Feds now own and guarantee the student loans so we the tax payers will be stuck with the repayments.

    Gremlin1974 in reply to Y2K. | June 19, 2019 at 3:26 am

    Yea that somehow was a part of that Huge failure called Obumbles care, that was totally only about healthcare…right?

We are seeing more and more of these stories that simply amount to the concept of “I was too stupid to know what I was doing so I took out loans for a worthless degree and then doubled down to get a second worthless degree costing even more money I did not have. Now that the bill is due, I want you to feel sorry for me because of the unfairness of the situation.” The school and others failed these children (not yet adults for they have yet tog row up) because it did not teach them how to look ahead to see the obvious. They also failed these children because they failed to instill a sense of ethics and responsibility into these children. Lastly, they failed these children because they support the idea that these children are victims for being in a situation entirely of their own creation.

190K for a six year vacation ain’t bad.

Voice_of_Reason | June 19, 2019 at 10:20 am

So entitled people think that taxpayers should be in the hook for bad educational investments?

If private financiers won’t finance your education, then it’s a sure sign that the degree isn’t worth the cost.

Voice_of_Reason | June 19, 2019 at 10:23 am

Federal school loans are distorting the market and artificially inflating the cost of useless degrees.

Very very few people would pay that kind of money for a useless degree if they had to save up for it, instead of putting it on credit. And therefore schools wouldn’t jack up the price because demand would be much lower.

ufo destroyers | June 19, 2019 at 11:59 am

Digging through the Yahoo comments returns that the author of the story was a journalism major. Enough said. His website links to his resume. A bachelor’s degree from Rutgers where he “Specialized in media anthropology and public policy.” Then a Master’s from Newmark Graduate School of Journalism at City University of New York where he “Specialized in engagement and innovation; Incubated the community information districts project, [and;] Analyzed student media ecosystem in New Jersey.” That, my friends, is a winning combination for a mid six-figure salary.

I would support changing the law so that student loan debt could be discharged via bankruptcy proceedings. However, the “educational” institution that suckered the student into paying $120k for a Sociology BA and $50k for an MA in Queer Film Studies would be responsible for 50-75% of the defaulted loan. Even worse are the “colleges” that are sucking up Federal grant and student loan $$$ and have single digit graduation rates.

When I went to college, city and state schools were free. How did it get so out of hand?

Whiner! Poor baby, earned debt and it didn’t turn out the way he wanted. SO SUCK IT UP AND BE A MAN!

At age 35, I found myself a first time parent And I had a lot of revolving debt. On top of that, my wife of almost 7 years wanted to stay at home to raise our kids. I owed more than I made in a year.


Was it hard? Hell yeah! It took ALL of my children’s lives before I finally paid off all of the revolving debt.

Then after getting my finances “straightened out,” but still owing money on the mortgage, my employer of 25 years decided I was no longer needed.

Trials of life turn us into adults. And now that we’re supposed to be adults, we’re supposed to be capable of dealing with it.

We need to show compassion, give a listening ear to friends, encourage them that the task can be done, and give advice if called upon to those going through trials.

But, you signed the note. Now Man-Up and pay it off.

Sometimes it takes working 2 jobs (I did)