Our Marketing Director Heidi Cookson shares some wisdom on student loan debt and your estate plan.
As someone who graduated college not too long ago, recently refinanced my student loans, and is about to embark on the journey of graduate school, there is one big elephant in the room: student loan debt. I am one of the millions of contributors(approx. 45 million people according to The Motley Fool) to the $1.6+ trillion of debt. The joke I frequently crack with my family and with my friends who are also feeling the pressing weight of student debt is, “at least if I die, the debt disappears *poof*”. This ultimately leads to drumming up fantastical stories of how to fake my death and live off the grid or assume a new identity to escape the ever-mounting sum, which can feel quite crippling. (Of course, as a Native Vermonter, the living off the grid option seems the most feasible and appealing.) This joke about faking death is one I am sure many parents and fellow student loan holders are familiar with.