Michelle Boucher, 27

I graduated in May 2011 with $62,000 in student debt - $12,000 with OSAP and $50,000 with a student line of credit. I qualified for less and less OSAP each year due to my parents' income, but I was responsible for paying my education myself and had to resort to the line of credit in order to pay my tuition, books, and living expenses each year. After nearly five and a half years of making payments of $750 a month, I still have almost $40,000 left to pay off. My husband and I are expecting our first child and we can't even buy our own car without a co-signer because of our student debt, let alone a house to raise our child in. Cumulatively, we pay over $1,000 per month, and when he finishes his PhD, that number will likely rise to at least $1,500. It is absolutely crippling us and completely prevents us from being able to enjoy the things we should be enjoying as 27 and 29-year-old newlyweds and expectant parents.

Showing 1 reaction