A 52-year-old single mom needs to save for retirement, but her cash flow is strangled by rising student loan payments for herself and her sons. How can she minimize her loan payments and free up cash for retirement savings? DailyFinance's Laura Rowley offers some tips.



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rc182pilot

How is it that, at forty years old and after raising two sons to adulthood, this woman wasn't smart enough to know that she shouldn't spend money she doesn't have? And why can't her two sons repay their own student loans?
Nope, no simpathy here.

October 11 2011 at 7:42 PM Report abuse rate up rate down Reply
haddowchic

Ppsshaw...she has to pay $1,000 a month? My son's debt is $2500 per month. He's working part time at a big box store. So much of it is interest, it's become ridiculous. He has a life of misery ahead of him. Sallie Mae will hound him til the day he dies. Wish I could pay it, but who can afford that?

October 11 2011 at 7:28 PM Report abuse rate up rate down Reply
1 reply to haddowchic's comment
Craigermt

The government has a very good program for helping pay for college expenses. It is called the GI bill of rights and is earned. Not only is it earned but the future students also get a big dose of real life before they head off to college and waste a couple years trying to figure out what they want to do at school.

October 11 2011 at 8:02 PM Report abuse rate up rate down Reply
christi

I was a single mom with 2 children, worked 2 part time jobs and repayed every penny of my student loans. It wasn't easy but I did it...it's all about priorities and choices. If this woman took out student loans then she needs to figure out how to repay them so they are available for others who need them. BTW both of my children are college graduates, make monthly student loan payments, and as a family we started pre-paid college funds for my grandchildren because we wanted to get a head start on their education costs. Again it's about priorities and choices, because a lot of families are not in the financial position to out right pay for college educations. Did anyone ever teach her to think before she acts???

October 11 2011 at 7:12 PM Report abuse rate up rate down Reply
morrism462

Have sons pay thier own bills?

October 11 2011 at 7:05 PM Report abuse +1 rate up rate down Reply
maa2626

she raised boys, not men. very sad.

October 11 2011 at 7:02 PM Report abuse +2 rate up rate down Reply
smrsad

I would force into homelessness so I can get my money I lent her on some dream she has!

October 11 2011 at 7:00 PM Report abuse rate up rate down Reply
smrsad

forgive what??????? No Way! she ran up the up the bill and now she wants forgiveness? No way-Pay up every last cent! I am tired of paying for your bad choices.

October 11 2011 at 6:58 PM Report abuse +2 rate up rate down Reply
adika3z

how about 2 boys daddy can help his 2 sons,,,
father and mother should be help share with 2 boys

October 11 2011 at 6:21 PM Report abuse rate up rate down Reply
celebrityl

Guaranteed this is a fabricated story designed to gain attention. DailyFinance is fishing for support,nothing else.....

October 11 2011 at 6:19 PM Report abuse rate up rate down Reply
conflayz

She deserves all the debt that she has gotten herself in to. Why on earth would she take out LOANS for her children? Why would you put yourself in debt for them when they can get scholarships, grants, and loans themselves! If you have the CASH to pay for your kids then more power to you, but sinking your self in to debt for your children's education?! I think not! She also probably thought that she would be able to claim all this ridiculous debt in a bankruptcy. lmao. Welcome to living paycheck to paycheck until you're 80 years old. LIVE THAT AMERICAN DREAM , COLLECT AS MUCH DEBT AS POSSIBLE!!!

October 11 2011 at 6:05 PM Report abuse +2 rate up rate down Reply
1 reply to conflayz's comment
Kruelhunter

Or even, gasp, work their way through!!

October 11 2011 at 6:45 PM Report abuse +1 rate up rate down Reply