And if you go to a school like NYU or Midwestern relying completely on student loans, under these income-based programs your monthly payment likely won’t even cover your accrued interest. So...your loans will snowball and somehow you’ll find yourself watching your student loan balance grow even after finishing school. What’s that feel like? Ask Mike Meru...
Due to escalating tuition and easy credit, the U.S. has 101 people who owe at least $1 million in federal student loans. Five years ago, 14 people owed that much. More could soon be joining the group.
www.wsj.com
Big Hoss