Source: BBC

By Jill Martin Atlanta

Jill McDevitt Jill McDevitt says she is struggling to make a living in spite of having a PhD

Jill McDevitt, 27, is well-educated and renowned in her field – but she’s overwhelmed by $150,000 (£93,500; 116,300 euros) of student debt.

She lives with her partner in the suburbs of Philadelphia, in an 800 sq ft flat that lacks laundry facilities. “I have a PhD, and I do my laundry in the ‘coin op’ place,” she says.

Ms McDevitt has a career that she loves – lecturing, writing and speaking on human sexuality – but as she did not receive any financial aid, she took out private loans to pay for her degrees, leaving her with monthly payments of $1,600.

“I just cannot pay that amount,” she says, and having tried to negotiate with several lenders without success, she is losing her will to fight.

“My credit is already in the dumps,” she says. “What is the incentive if I’m already screwed?”
‘Trip through hell’

Ms McDevitt is not alone. Student debt is a one trillion dollar headache for the US economy – and it is only getting worse. Read more.