Student Loans: Springboard or Ratchet? Back in the late 1970’s when I was starting my career as a public interest lawyer, I remember the dread that accompanied each month’s bill from Sallie Mae, who, at that time, was the goddess of all student loans (or so I thought). I think I owed just about $30 per month, but with a public interest lawyer’s starting salary of just $15,000 per year, there were months when making that payment, paying the rent and putting gas in my
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