She Strengthens

The Weight of Student Debt: 12 Stories of Sacrifice and Triumph

For many young adults, student loans can be a crushing burden that shapes their entire lives. The reality of repaying massive debts can be overwhelming, forcing individuals to make difficult choices and sacrifices. But despite the struggles, there is a sense of solidarity among those who are working to pay off their loans.

Living with the Consequences

Lauren and her fiancé owe a staggering combined principal, requiring nearly $1,600 in monthly repayments. My boyfriend and I owe just under $10,000, but my default on loan payments raised the amount to nearly double what it initially was, severely damaging my credit. Both our debts have significantly impacted our lives, and we’ve had to make tough decisions to get back on track.

Real Stories of Paying Off Debt

To better understand the sacrifices people make to pay off their student loans, we gathered stories from 12 individuals who are working to become debt-free.

Ana’s Lucky Break

Ana, 25, took advantage of her company’s referral policy, earning $3,000 by recommending two qualified candidates for job openings. She used the bonus money to pay off a significant chunk of her high-interest school loans. “It killed me to take all the money and use it toward something so boring, but I breathe easier every day knowing that I took a huge step in the right direction.”

Noel’s Trade-Off

Noel, 27, had to push off getting an apartment with her fiancé for a year until she made enough money to afford rent and loan payments. “It was a trade-off between getting something I felt like I wanted now, for the financial and mental security of being able to make my loan payments every month.”

Jackson’s Joint Effort

Jackson, 28, is marrying someone with a Master’s degree from an expensive school, resulting in $1,000/month loan payments. To help his fiancée pay off her debt, they’re forgoing a traditional wedding and taking a small vacation instead. They’ll use the money saved to put 20k towards her loans, and Jackson’s bonus from his job will also go towards the debt.

Liz’s Double Shift

Liz, 22, works two jobs to make ends meet. After leaving her 9-to-5 job, she heads to a local Thai restaurant four days a week to work the night shift. “It’s a temporary situation, and it’s what I need to do for now to make this work.”

Maya’s Graduation Gift

Maya, 28, used the $2,100 she received as graduation gifts to pay off her school loans. “I stayed at the shore for a few nights with my boyfriend during the summer as a mini-vacation before I started working, and I don’t regret it at all.”

Faye’s Side Hustle

Faye, 21, waitresses private parties at people’s houses through a local catering business, earning $18-20 per hour plus tips. In one month, she can make hundreds of dollars extra, allowing her to pay back her school loans faster than she ever imagined.

Lacie’s Wedding Delay

Lacie, 26, and her fiancé are putting off their wedding until they’ve paid off more of their student loans. They’re living with Lacie’s parents, putting 60% of their earnings towards their loans, and plan to move out by January 2016 and start planning their wedding.

Sara’s Practical Approach

Sara, 26, prioritizes paying her loans after taking care of basic needs like housing and food. She’s set up automatic payments and worked with her loan providers to make sure she’s paying a reasonable amount each month. “I’m not rushing to pay down my debt – it’s impractical to do so and still be able to meet other goals that I have.”

Alex’s Unwanted Job

Alex, 30, works for a bank instead of pursuing a career in fashion. However, her job allows her to afford a $1,000 monthly loan payment. “I’ll see what happens.”

Katie’s Career Shift

Katie, 26, dropped out of college due to mental health reasons but started working at a coffee shop and eventually became a manager. She’s building up her graphic design portfolio on the side and hopes to transition to a full-time designer by 2016. “It has taught me to never underestimate certain jobs, because I’m doing a lot better than some of my friends who have their degrees and a ‘eal’ job.”

Rachael’s Cost-Cutting Move

Rachael, 25, moved from an expensive part of New Jersey to a lower-cost area with her fiancé, allowing her to put the money she’s saved on rent towards school loans. “I used to worry about how I would make ends meet each month, but now life is easier because I don’t have to stress out as much about paying high rent prices.”

Amanda’s Wake-Up Call

Amanda, 26, spent two years ignoring her loans and partying, but eventually got serious about paying them back after her dad started receiving collection calls. She took a babysitting job two nights a week to earn enough to cover her loan payment. “I guess you can thank my deadbeat dad for that. But on the bright side, now my credit is getting back to normal, and I haven’t missed a payment in over a year.”