Student debt in the United States has become a national crisis. Lately, the all-news local radio station I listen to has been reporting on student debt. All the news outlets (online, print and radio) have been warning us about student debt for the past several years. Student debt is so large now that economists have stated student debt has become a drag on the American economy. And things will get worse. Much worse.
How is this possible?
It’s difficult to buy a home or other long-term consumer items if your monthly payments on your student loans are the size of a monthly mortgage payment. Especially, if your degree (or degrees) did not secure you that high income job that you went to school for.University of Pittsburgh Seal (Photo credit: Wikipedia)
And here is something else the economists point out. The chance of you securing a job that will allow you to pay off your student loans is reaching the point of slim and none. The fact is, there are too many people with degrees in areas that cannot absorb them. Most people do not work in the field they got their degrees in anyway. And they definitely do not make the kind of money they thought they were going to make when they took on all that student debt.
Why do students take on all that debt?
Statics prove time and again that a person with a college degree will make much more money over his or her life time than a person without a college degree. Of course, if you don’t take on student debt, maybe you don’t need to make as much money to live a decent life.
Notice I did not say a middle-class life. The middle-class in the United States is disappearing. Because you need a college education to have a chance at being middle-class, but most people can’t afford to go to college unless they go into debt.
Class, repeat after me. Catch 22.
Even though I was awarded a K. Leroy Irvis Fellowship that paid for the MFA that I got from the University of Pittsburgh in 2006, I still have student debt from my undergraduate studies and my graduate studies. And that interest keeps piling up. I make monthly payments to Sallie Mae and I have to reach some sort of arrangement with the American Education Services to start paying on my other student loans.
But like so many other people, most of them who are much younger than I am, I will die still owing money on the student debt that I incurred to pay for degrees that I got years ago.
Something has to chance.
Hello hello hello, all my fans of erotic flash fiction from all over the world! It’s suppose to be around 90 degrees today in Pittsburgh today. Whew!
Well, summer officially begins 21 June. Let my humble girlie magazine be part of your summer reading pleasure. I feature a different post on the front page every day. So be sure to stop by again tomorrow.
Keep reading and keep writing that erotic flash fiction. This is the Old Soldier reporting for the PittsburghFlashFiction, a new kind of girlie magazine.