|
Realize that a $65,000 indebtedness for his undergraduate and post graduate education could have been paid back at $500 or less a month in those 12 years. (12 mths X $500 X 12 years =$72,000). A 40 hour a week job at $5.00 an hour would have provided that.
The article stated: "While relatives acknowledge Yoder had fought depression on and off for years,..." Also his mother's statement that debt collection efforts were part of the reason he took his life indicates there were other things going on.
The article also said that after his death there were two contacts made with employment offers in his field. Repayment of an educational loan is not (nor rationally should be) limited to income in your field!
The article revealed he did not want to take a job outside his field (for fear of garnishment of wages).
DISCLAIMER: The following is not legal advice. I find it hard to believe that he knew about wage garnishment, but did not know that his wages could be garnished whether the employment was in his field or not. Wage garnishment has to leave the person enough to live on.
Sending out resumes does not give anyone a pass. The job market changes all the time. Demand in your field is a variable everyone experiences. Lack of demand does not excuse you from getting a job doing something "outside your field."
It is sad, but the guy seems to have done nothing to meet his obligations.
The "government" that is supposed to provide this affordable education is just you and me and our tax dollars. Personally, if it was a government loan, it should be paid back. Each "bad loan" that a private lender has to write off results in higher interest rates and/or less loan dollars for other students.
|