The New York Times brings us the story of Teresa Tosh, her son Jacob (who apparently has a different last name), and Teresa’s husband, George Tosh. Jacob took out $200,000 in federal loans to go to law school, and another $100,000 in private loans that his mother co-signed.
Jacob wasn’t able to pay off the loans because he couldn’t find a high-paying legal job, and the creditors starting calling him and his mother. Her husband, who I think somewhat obviously was probably already in some distress, didn’t handle the situation well:
And the ABA continues to do nothing to stop the tuition/loan debt arms race.
This article is chilling and sad, but yet it is important to consider.