Dear Student Loan Debt,
It's time to break up. What seemed so promising in the beginning, has soured beyond recognition. Over 25 years ago, I committed to this debt-ridden relationship, young and naïve about what it really meant to sign on the dotted line. All I could think about was that I had a chance to become the first person in my family to get a four-year college degree.
I admit that you are not fully to blame. I didn’t read the fine print. I didn’t look at the interest rates. I didn’t do the math. I even went back to you to finance my graduate degree! I’m still surprised I did that. Deep down I knew that I was getting into too deep with you. YOU knew I was getting into too deep with you, but you ignored my debt load, just as much as I wanted to ignore it.
You were indifferent to my struggle to pay a monthly bill that nearly equaled my rent. You were secretly delighted every time I deferred my debt, knowing interest would be capitalized, increasing my balance and the interest due. You were pleased to watch my debt balloon to more than double its original amount!
Now I’m older, and thank God, a little bit wiser. The longer I keep you, the longer I delay being debt-free, owning a home, and building wealth. If I don’t aggressively disengage from this relationship, I’ll continue to be ensnared in something that now benefits you far more than it benefits me. And I’ll be damned if I retire (or die) with you!
Therefore, I declare that in 2022, this relationship is over!
Sincerely & No Longer Yours,
Tina
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