student loan debt elimination
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College Students Feeling The Cost Of Loans
(CBS News) The rising cost of borrowing money is keenly felt by college students and recent graduates, who face unprecedented debt from government-backed student loans. Those rates will rise on Saturday, but as CBS News correspondent Randall Pinkston reports, young borrowers still have a chance to catch a break before the deadline. Jason DeBonis and Katrina Lust can use any breaks they can find. The two medical students are young and in love. They plan to marry in May. Their wedding gift to each other: a combined total of nearly $500,000 in student loans. "I think the reality is going to set in when we're actually getting salaries and a certain percentage of our salary is going to go into paying off that debt," DeBonis says. Before they earn a dollar as doctors, they're already deep in debt.