“I am going into education, which does not pay too well, but it is something I love doing so that’s why I take out loans.” Posted on April 5, 2023September 7, 2023 by John Kaney Michelle Herrmann is an 18-year-old freshman studying at the University of Wisconsin-Milwaukee. She is a full-time student and Elementary Education major who expresses concern about being able to pay back her college debt. John Kaney: Do you currently have student loans? Michelle Herrmann: Yes, currently have one student loan through FAFSA. I have good amounts of grants and scholarships through FAFSA, which I am very grateful to have. Q: Do you have a debt that will eventually have to be paid back? How much? A: Yes, and it is definitely going to be high and accumulate. After school, I expect to be around $10,000 in debt. I am very lucky because I know this is a lot lower than a lot of my friends and people around me. Q: What is your biggest concern with paying the debt back? A: Not being able to pay it back in my future and all the ins and outs of it because It does not seem like that big of a deal taking out loans this young but it is actually a very big deal. Q: What have you heard about President Biden’s loan forgiveness policies? A: I have heard of it but I do not know a lot about the policies. Q: Are you able to start paying back those loans now? A: That will be in the future when I start paying back those loans because I pay for part of my college tuition right now upfront and then I am forced to take out loans for the rest I cannot pay. Q: With living in the dorms currently, would you have to take out additional loans in the future for different living expenses? A: Most likely since I am paying for tuition up front, I must take loans out because I don’t have the money for things that come up in the moment throughout the semester. Q: Have you met anyone at UW-Milwaukee that has more loans than you? A: 100 %. I would say out of all my friends and the people around me I probably have the lowest amount of loans which is scary because I still have $10,000 in debt. Q: With your potential future career, do you see yourself being able to pay back your loans in a timely manner? A: Not really, to be honest. I am most likely going into education, which does not pay too well, but it is something I love doing so that’s why I take out loans. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to print (Opens in new window)