Readers Share Their Student Debt Reasons and Experiences

globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Monday, December 17, 2012 3:00 AM

In my post Trends in College Tuition vs. Bachelor’s Degree Wages; Interesting Demographics of Student Loan Debt History I noted skyrocketing student loan debt, especially in the age group 30-39. See article for details.

Since 30-39 is not the typical school demographic, I asked readers 30 years or older who are sitting on a pile of student debt to share their stories and reasons.

A summary of reasons and email snips from readers follows.

Reasons for Skyrocketing Student Debt in Age Group 30-39

1. Interest rates are so low they encourage not paying off loans
2. Interest rates are so high and job salary so low that debts cannot be paid back
3. Economic incentives for special ed teachers and others
4. Divorce sends middle-aged mothers back to school to get a job
5. Divorce and child payments sends middle-aged men back to school seeking better opportunities
6. Pressure to get into management, and management requires additional school
7. Exploitative ads
8. Deferred payments
9. Employers unnecessarily require college degrees
10. Those who get married after high school decide to go back to school later in life
11. Parents co-sign loans shifting debt responsibility to higher age group
12. Job loss sends middle-aged persons back to school hoping for better opportunities

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