Hello, my name is Rick Garrett, and I’m reaching out for support during a challenging time in my life in paying off student loan debt.
In 2009, during the recession, I was laid off from my job and struggled to find new employment for almost a year. The Washington State Employment Security Department encouraged me to return to school, and I accepted the opportunity. I did well academically, making the Dean’s List every quarter. To support myself, I found a part-time job as a graphic designer while continuing my education. Unfortunately, full-time opportunities remained elusive.
During this time, my life took a difficult turn. My roommate, best friend, and ex-partner was diagnosed with stage 4 cancer. We both struggled to make ends meet, and after his passing, I was left devastated and alone. To cover living expenses, I had to pull money out of my 401K, leaving me with a significantly diminished retirement fund. My student loans and the few hours I worked each week were the only things keeping me afloat.
After graduating, I lost our home and moved in with a friend. I then traveled to visit my parents, hoping to regroup. My part-time job increased my hours to 25 a week, and I was able to manage remotely. But just as I started to gain some stability, life threw another curveball. My mother fell ill with dementia, and then COVID-19 hit. My visit turned into a permanent stay as I assisted with my mother’s caregiving needs.
During this time, my job increased to full-time with a raise, and I finally started paying down my credit card debt. Student loans went into forbearance due to COVID, but the pressure of debt has continued to loom over me.
Earlier this year, my mother passed away. Now, at 57, I find myself still helping with my father, who is also facing financial woes paying for my mom’s medical bills, while trying to navigate my own financial challenges. At nearly $200,000 in debt, I am scared and weighed down with regret. I’m doing my best to stay afloat and pay down my debt, but I can’t do it alone.
Despite my full-time job, which offers no vacation days or paid holidays, and freelance work on the side, my 401K remains at less than half a year’s salary. My company doesn’t offer a matching 401K, but I’ve set my contributions at 10% to rebuild what I lost. I’m thankful to have health insurance, especially since it covers 20 therapy sessions that are helping me recover from an anxiety disorder.
This is where I need your help. Your support will help me pay off my student loans, reduce the financial burden that has been weighing me down for years, and allow me to focus on rebuilding my life.
Any contribution, no matter the size, would mean the world to me. Thank you for taking the time to read my story and for considering supporting me on this journey.
Sincerely, Rick Garrett
Paypal: paypal.me/ricktgarrett