The $124,421 Man

On acquiring and paying off a six-figure student debt load:

The amount of money my parents and I were loaned was actually higher than $116,499—$124,141, to be exact—but my parents had been making monthly payments for years, whittling thousands off. In the end, we had decided to take loans out for seven semesters—all but my semester abroad, which my parents paid for out of pocket. (Turns out, it was several thousand dollars cheaper than a semester at Tufts.) Encouraged by low interest rates until senior year’s 6.5 percent, my father decided to pile on the loans, nearly all under his name.

Source: Medium
Published: Jun 25, 2014
Length: 12 minutes (3,079 words)
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