If you live in the US, college is rather expensive. Many parents have to work multiple jobs in order to pay for their children’s college tuition, so they put pressure on their children to perform at the top of their class so they can earn merit scholarships, hoping that their college will be paid in full. However, that’s rarely the case, and most students (and parents) have to take out student loans to fill the gaps left by financial aid.
Michelle Miller, like many others, agreed with her mother to pay back half of her student loans to ease the burden on the new graduate. So, the daughter owed approximately $30,000 after graduation, and, split between the two of them, they both had to pay back around $15,000.
Michelle shared the story on Twitter about how her mom insisted on paying back her agreed-upon portion of the student loans, but the daughter offered to take over the payments. However, Michelle was informed that the original $15,000 turned into $40,000 after interest, so she decided to save money in preparation to take over the payments.
Her mom refused to allow it, so she was expected to pay $400 a month on the student loans – money that would cut into her retirement fund, leaving her below the poverty level.
To her, it was worth it to hold up her and of the bargain. Unfortunately, she became unexpectedly ill and passed before she was able to retire or pay back the loans.
When Michelle was going through her mother’s paperwork after her passing, she was met with a shock, and she decided to share the story on Twitter, where it went viral.
I’m somewhat loath to get so personal but I feel like I need to tell this story. My mother died in December 2020 with what I believed at the time to be $40k in student loan debt.
— Michelle Miller (@michelleimiller) April 28, 2022
When I went to college, the deal my mom made with me was that we’d split the loan payback. I paid my portion back in about 10 years (we owed $15k each). I didn’t know that she was never able to pay her portion back.
Advertisement— Michelle Miller (@michelleimiller) April 28, 2022
I discovered she had the debt in 2019 when I had to help her out of a predatory refinancing scam. I asked if I could take over the loans. My very stubborn mother refused, so l let it go, but held some money back in my own savings in case she’d eventually let me help.
— Michelle Miller (@michelleimiller) April 28, 2022
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Fall of 2020, 2 things happened. She became ill quite suddenly due to the impacts of botched medical care 30yrs prior. And the company she worked for started closing down departments. She was worried they’d shut down hers before she could retire the following year.
— Michelle Miller (@michelleimiller) April 28, 2022
She barely had enough money to make it through her retirement years. The difference btwn poverty and doing alright was the $400 monthly payment on those student loans. She told me it’d be ok because she was good at being broke.
— Michelle Miller (@michelleimiller) April 28, 2022
She was very sick the last week we spent together. I didn’t know she was dying,I thought we were figuring out how to get some care for her + fix up the house. I asked if she’d let me take the loans over.She said it was a gift she’d been proud to give. she needed to do it herself
Advertisement— Michelle Miller (@michelleimiller) April 28, 2022
This is what we talked about the last week my mom was alive. Loans. Student f*cking loans.
— Michelle Miller (@michelleimiller) April 28, 2022
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I am telling this story bc every time I see someone say erasing debt is a gift to elites I think about my mom, a woman who never saw her way out of the working class.
— Michelle Miller (@michelleimiller) April 28, 2022
After she died my dear friend Dania and I went through her papers to deal with all the post-death practicalities no one ever talks about. I found her loan papers. She had lied to me about what she owed. It was $80k, not $40k. On about $15k of debt.
— Michelle Miller (@michelleimiller) April 28, 2022
The company forgave it immediately.
Advertisement— Michelle Miller (@michelleimiller) April 28, 2022
This thread is going bananas so I need to mute. But first I want to add stuff about my mom so she’s not just poor and sick in your imagination. She was very funny. A great cook. Read a book a week. Tough as hell. Loved me more than physics might suggest is possible.
— Michelle Miller (@michelleimiller) April 28, 2022
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Source: Upworthy
