We Spoke With a Borrower About Their Biggest Regret Regarding Student Loans

Reflections on Student Loan Decisions: Amie Wilkinson's Experience

Photo Illustration by Alice Morgan / Getty Images

Many individuals who have financed their education with student loans find themselves questioning those choices later on.

Looking Back: Amie Wilkinson's Story

Amie Wilkinson, now 45, admits that if she could go back, she would reconsider her approach to student loans. After earning dual Bachelor’s degrees in English and Political Science from a California university in 2001, she left school with approximately $60,000 in student debt. Over time, that amount has ballooned to around $150,000.

Insights for Future Borrowers

This account is part of a series where student loan borrowers share their stories to guide prospective students and their families. If you have your own experience to share, you can submit your advice here.

Managing Repayment

After spending about 15 years on standard repayment and periods of forbearance, Wilkinson switched to an Income-Based Repayment (IBR) plan. This adjustment reduced her monthly payments to zero, based on her income and family size. While this eased her immediate financial burden, it also allowed the interest on her loans to accumulate rapidly.

Interview Highlights

What do you wish you had known before borrowing for college?

Amie Wilkinson: I wish I had fully understood how long-lasting this financial commitment would be, and the impact of taking on such a significant debt load before even starting my career. This debt has influenced many major life choices.

Knowing what you do now, would you have approached college or student loans differently?

Wilkinson: I would have taken more time to consider my options. I would have questioned whether attending a private institution was necessary, explored public colleges, and searched for scholarships. I lacked guidance in navigating these decisions and ended up at a private school largely due to my parents’ encouragement, without realizing the long-term consequences of the debt I was taking on.

I also would have paused to reflect on my career goals before choosing my majors. Although I was told my degrees would open many doors, I later realized that my path was less clear than I expected, and I didn’t have a definite direction for my future.

Regrets and Lessons Learned

Do you regret earning your degrees, given the debt involved?

Wilkinson: I don’t regret pursuing higher education or the experiences and friendships I gained. However, I do wish I had thought more carefully about taking on such a large amount of debt so early in life. Without much guidance—since my parents hadn’t completed college themselves—I made decisions that continue to affect me. Now, my husband and I often can’t use my credit for major purchases, such as qualifying for a mortgage, because of my six-figure debt. It feels like a constant penalty that limits our financial options.

Advice for Future Students

What would you tell current or prospective college students about student loans?

Wilkinson: I encourage students to think beyond simply earning a degree. Understand why you’re pursuing your chosen field and what career paths it can lead to. Consider where you want to live and work after graduation.

I strongly suggest gaining work experience in your area of interest before committing to a degree. Sometimes, hands-on experience can change your perspective about a career path.

I often tell my children, “If you’re interested in becoming a veterinarian, try volunteering at the Humane Society first. Explore the field before deciding on a career and taking on debt—otherwise, you might find yourself stuck in a job and debt that make you unhappy.”