How a $1,250 student loan becomes thousands more
“It has been about six months since Melissa Williams, 28, of Detroit has made her monthly $120 student loan payment. That’s because it has been about eight months since she’s had steady work. ‘I know I owe it, but I’ve got to eat and pay rent,’ the Wayne State graduate said. ‘That’s more important than paying the loan. Once I get some steady income again, then I’ll be able to catch up.’”