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[quote=Anonymous]I am a SAHM with over $100k in student loan debt. I "flunked out" of my field, for lack of a better term, and am pretty much unemployable (and even if I was employable, child care and commuting costs would eat any income I made anyway). My DH also has a great deal of student loan debt (more than me) but he is actually using his degree. Our financial situation is getting desperate, i.e. we are facing a choice between forgoing health insurance and defaulting on student loans. (We applied for a high deductible plan but I was turned down by three different companies, and yes, we've tried to work with the loan servicer to keep the payments doable. A deferment/forbearance wouldn't help because we'll be no more able to make the payments a year from now). We have very low housing expenses for our area, no cable, never go out to eat, DH drives an old car, there is no "fat" in our budget. We do have life insurance on both of us for a decent sum. With me out of the picture, he could pay off the house, his student loans, what little other debt we have, and still have money left over to put in a college fund for the kids. Plus, with no rent or student loan payments, he would have plenty of money to hire a nanny before he remarried.

How does it not make sense for me to give my family the gift of financial freedom and relieve them of the burden of my mistakes? (Suicide is not excluded from the life insurance plan). My parents want to help and have even talked about liquidating their retirement savings but I can't let them do that. Only death will wipe the slate clean. It is too late for me but I want my children to have a good life. From a purely financial perspective, wouldn't this be the best gift I could give them?

P.S. If your response is "you should never have had kids", save it. Things were not always this bad for us and my kids are the only redeeming thing I've ever done in my life.[/quote]

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