Art & Soul...& Science
August 26, 2013 10:36 AM
Parents face the student loan double whammy
Posted by Staff
The Today Show:

In America these days, loans (and blood) are thicker than water.

At age 51, Charlene Rose had hoped to be socking away money for retirement by now. Instead, she's still paying off her student loans, largely for a master's degree she got to advance her career. And now she's got three kids in college, each of whom is taking out student loans of their own.

Together, Rose and her children owe as much as $136,000 in student loans. "I didn't think I would have this much debt," Rose said. But she thinks it's important for her children to get college degrees, even though her student loan debt could affect her ability to retire.

"I think that I'll still be able to pay it off. That's my goal. I just can't see not paying the debt," Rose said. It is ironic since Rose, who lives outside Orlando, Fla., is director of housing for Consumer Debt Counselors, counseling people about their mortgage debt. Facebook Fark Furl
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