Kari Boudreau did everything by the book when it came to her student loans. She still couldnt stay ahead of her debt.
A self-proclaimed rule follower, Boudreau was the first in her working-class Northfield, Minn., family to go to college, earning a degree from Iowa State University that led to her buildinga successful chiropractic business.
Getting there, though, meant taking on loans. What started out as $139,000 in federal student loans became $600,000. This happened because of a combination of loan consolidation, forbearance, having her loan sold from one servicer to another, interest capitalization when a loans unpaid interest is added to the loan total, or principal and moving to an income based repayment plan.
Boudreau, 53, is a…
Read the full article at: https://www.mprnews.org/story/2021/02/15/firstgeneration-college-graduates-navigate-mountain-of-student-loan-debt