By 2015, Lauren Quinn had borrowed $49,996 in federal student loans to pursue a master’s degree in education at UCLA. But after almost five years of making monthly repayments tied to her income level, she is confronted with a total balance of $56, – about $6,500 more than the original amount due to compounding interest.
“It’s just another day older, deeper in debt is how I feel,” said Quinn, a public high school teacher in Los Angeles. “It just feels like quicksand. It feels like this huge thing I’ll never get out from under.”
She has paid a total of $9, since 2016, but only $ of that has been applied to her principal balance.
Quinn is among the 42.9 million Americans who had federal student loans as of last year, according to the National Student Loan Data System. Read More
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