William Pearson turns 69 next month — and he’s still chipping away at a student loan he took out more than three decades ago.
The $11,000 he borrowed to attend the now-defunct Sawyer Business School in 1990 has mushroomed to $30,000, the result of compound interest, late fees and periods of missed payments. He knows he will never pay it off. But he sends in $19 every month out of his Social Security income to keep his account out of default.
“I know that I will die with this debt,” the South Park resident said. “I don’t know how these people figure I owe them all this money.”
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📝: Tim Grant/Post-Gazette
📸: Sebastian Foltz/Post-Gazette
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