Shorter, sweeter, less ranty: I have a lot of debt

Upon waking up this morning, I decided I need to keep up with this blog better, which will entail shorter entries, entries that don't delve into the most inner innards of my inner-self and take me 3 hours to write and leave even me scratching my head wondering what I am getting at.

Therefore, here is something positive from Obama's Middle Class Task Force remarks yesterday:

Biden: The fourth thing is we're going to be strengthening the income-based repayment program for student loans -- fancy way of saying a lot of kids and families graduate with significant loan responsibility and literally -- literally are left with very few options. They've got to go out and get the highest-paying job they can, maybe in an area they had no intention of working in, just to pay back the loan.

Today the average debt of a graduating senior from college -- now, listen -- the average debt -- people of my generation -- the average debt is $23,000. That is literally $2,000 more than my first house cost. But in any standard, it's a lot of money -- average debt. Some are graduating with a great deal more debt than that.

So our proposal ensures that Federal Student Loan payments for overburdened borrowers are never more than 10 percent of their income -- a change like that makes a real difference for a kid just out of school. For someone who earns 30,000 bucks and owes $20,000 in loans, this would lower his or her monthly payment from $228 a month under the standard repayment plan to $115 a month. People who have to budget every day just to get by, they understand that's a big difference. That's a big difference.

This is great news, or a great, "remark." I just checked on my student loan just now to see if I perhaps came in under this national average of $23,000, and I found out that I do!-- by about $263 (including interest that's already accumulated). They say student loan debt isn't really bad, but it's hard to feel good about it, for sure. I can't imagine where I would be without the $18,000/yr scholarship I have. Definitely not at AU, that's for certain.

Can we just talk about this for a second: Where do I have to move in this world if I want to buy a house for $21,000? I will seriously consider this.

Maybe I could live the simple life in Costa Rica...anyone want to move to Costa Rica with me?



How far in student loan debt are you? More than the national average or less?