[Uglee]

I took on $70 K in debt to get my MBA. I never really thought I would be able to pay it off. After all, I was 55 when I got my MBA. What I didn’t realize was just how much more difficult it would make it to get a job. Any job. Even minimum wage jobs want younger people. Overeducated but under-experienced people are really not in demand. I was beginning to think I might as well tell them I’ve got ebola as tell them I’ve got an MBA.

But things are looking up. I finally got a part-time, minimum-wage job. And I didn’t even hide my MBA. In fact, I used it to play the sympathy card, and it worked. As for paying back the loan, it doesn’t look like it’s going to happen. But I’m not in arrears at all. I’m paying them back with the “income-based repayment (IBR) plan”. My income for 2011 was less than $1300, so my payment was $0. With my new job, my payment will still probably be $0. After 25 years on the IBR plan, the remaining debt will be forgiven. That’s the policy now, anyway.

As the saying goes, “you can’t squeeze blood out of a stone.”

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