In 1988 & 1989 I borrowed 19K in gsl, at somewhere between 9 & 10 percent interest. When I grad in 1990 my payments were around $900. a month. I never earned enough money to pay that amount. Since 1990 I've been very careful to not incure any more debt. My credit report is around 700. In 1992 I saved up and paid $1300. at one time, but found it was applied toward interest only, so I stopped trying to save up. But as the interest and penalties have compounded on the unpaid balance, I now owe around 60K. I'm just one of lifes’ losers. My income has not gone to pay for a high life.