Chef is finishing up culinary school; like many, he does have student loans. His loan totals are small and modest compare to others. He has $5500 total in student loans, which is just under half of the total cost of schooling. The other half was paid with scholarships, grants, and out of pocket by us.
This morning I was reading a news article about Federal Parent PLUS loans. The couple featured owes nearly $500,000 in loans. This happened because of deferments, forbearances, and high-interest rates. The couple has even filed for bankruptcy and lost their home. It's mind-boggling how quickly that can happen. -- however, even with bankruptcy they still owe on the parent plus loans. (Not all debt goes away with bankruptcy.)
