Student-Loan Debt Stresses Out an Elementary School Teacher

"What Louise Green hoped would be a buoyant beginning for her teaching career was offset by an increasingly common worry — student debt," according to The Seattle Times.

"After working a couple of years as a substitute teacher, the 30-year-old Seattle native landed a full-time job last year as an elementary school teacher with Seattle Public Schools. She takes home about $5,150 a month.

Even if money was no object, Green would spend her time with kids. 'I love discovering and exploring with children,' she said.

But Green was also preoccupied with paying off $67,000 that she borrowed to earn a master's degree in teaching in Antioch University Seattle. The loans paid for tuition, fees and living expenses.

After paying between $600 and $700 a month on the debt, Green applied for the public service loan forgiveness program through the U.S. Department of Education.

The program forgives the outstanding balance on student loans if the borrower follows a 10-year, income-based repayment plan and works for a governmental agency or certain kinds of nonprofits.

The paperwork was relentless and confusing. A years later, Green learned by happenstance that her monthly payments were not being applied to the loan forgiveness program after all. 

She eventually straightened it out, enrolled properly and currently pays $38 a month on the debt. Her payments will reset at a larger amount now that she is working full time."

NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 5/15/2018


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