The costly reality of student loan debt

Lynne Adkins
November 13, 2018 - 4:15 am

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PHILADELPHIA (KYW Newsradio) — Students who graduated from college in the spring must now begin repaying those student loans. 

Jojo Brown is facing that costly reality.

Brown dropped out of college in her 20s, owing thousands of dollars in student loans — an obligation she ignored, but one that was not overlooked by the lenders.

"When I was 23, they contacted my employer. They took money out. They garnished my wages," she recalled. "They call you randomly: 'It's OK, it's their money.' Or they take your income tax. I didn't get income tax for, like, seven years."

She did go back to school and graduated in the spring, taking on more debt along the way, which she will repay, somehow. 

Jack DePaul pays $300 a month on his $40,000 in college loans. It's doable, but it does impact his lifestyle: He has two roommates and puts off some of those fun extras.

"Traveling is something I would really like to do more of," he admitted. "I haven't really taken a big vacation or anything like that. For the most part, I pretty much live paycheck to paycheck."

Both claim, however, that it's worth it. 

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This is a series of special reports by KYW Newsradio's Lynne Adkins, produced by Kristina Hammershchmidt.