I have interacted with thousands and thousands of student loan debtors, and have spoken to hundreds of them by phone. We all know that a majority of people who have college degrees, professional degrees, etc., etc. are stuck with a great deal of student loan debt. It's likely that most of these student loan debtors will never pay off their debt. The student loan debt clock is now at $907 billion. With the passing of each minute, that number increases dramatically. That provides us with some pretty concrete evidence that there are millions of student debtors (not to mention their co-signers).
I only know of a few people who have paid off their student loans. One person is the President of the U.S. He has admitted that he would still owe student loans if he hadn't written two successful books. The other person is also an author, but that's not how he paid off his debt! Nope. He had to get a movie deal to do that. So, a successful book ain't gonna cut it. You'll need that successful book to be turned into a movie. Then you'll be able to pay off your debt.
Since this site is dedicated to research on the student lending crisis and sharing testimonials from student debtors, I would like to hear from those of you who have paid off your loans. If you are willing to share, I'd like you to answer the following questions:
(a) How much debt did you owe?
(b) What sort of loans did you have? Federal? Private? Both?
(c) How would you describe your economic background?
(d) Where did you go to school? (If you went to more than one, please list all the schools you attended)?
(e) Are you the first person in your family to graduate?
(f) What did you major in?
(g) What professional degree(s) did you obtain (if applicable)?
(h) When did you graduate?
(i) What were the interest rates on your loan(s)?
(j) How were you able to pay off your loans, i.e., did you inherit money, did your family help you, etc., etc.?
(k) What advice would you give to someone asking you about paying off their student loans?
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