http://www.nytimes.com/2011/04/12/education/12college.html?_r=2&src=me&ref=homepage
"Susan Dynarski, a professor of education and public policy at the University of Michigan, said student debt could generally be seen as a sensible investment in a lifetime of higher earnings. 'When you think about what’s good debt and what’s bad debt, student loans fall into the realm of good debt, like mortgages,' Professor Dynarski said. 'It’s an investment that pays off over the whole life cycle.'"
First and foremost, here is my biggest problem with student debt: it forces you to participate in the system until you're dead. Period. Once you're in, it's impossible to get out. If you had parents like mine (or, hell, even teachers or counselors - there are plenty of people who can pressure you), you graduated from high school with the mindset that you were going to be a total failure in life if you didn't go to college. As to whether that's actually true I can't say for certain but I do know that I made a decent living in retail for a bit. At least until all the debt caught up with me. Whether my college degree will be necessary for my personal success or not really doesn't matter (to me) when I start to think about how I'm forever
"And there is widespread concern about those who borrow heavily for college, then drop out, or take extra years to graduate."
Yeah, I did that. I dropped out of SF State after three years (gods, how I miss that school) and after about another three re-enrolled here at CSUB. As a junior. Again. Which is why I'm 27 and still haven't gotten a bachelor's degree. I also have a gigantic mountain of loan debt, all of which was in default for a while (along with several credit cards and the cable bill), and I had to borrow even more to come back here. Once I graduate I'm not sure what will happen; I imagine I'll have to defer them for a bit until I can find a writing gig somewhere. And then pay on them until I'm too old to appreciate that I no longer have to pay on student loans. Really, I feel like this is a blueprint for how NOT to do things once you become an adult. Because then you have to move back to Bakersfield, back in with your parents, and you start to feel pretty crappy about your lot in life.
This article also implies that my student loan debt is going to hinder me in other areas, such as getting married, having children and buying a house. I don't really view any of these as problems personally, as I have no desire to get married for a long, long time (I can't legally marry who I want to in this state, anyway); no desire to have children ever (I don't really like them or want them around me, plus I'm really into my me time); and as far as buying a house goes, I haven't even thought about that at this juncture (just getting out of my parents' house would be enough for now even if it is into a tiny apartment with too many roommates). There are probably many people in this class alone who are worried about these things, though, so they are factors to consider if you want to be a "normal" adult.
This is exactly why I am waiting for Chuck Palahniuk to influence that one super crazy multiple personality dude to do the right thing: Blow up any and all records of debt and economic power so we can all truly start from scratch. Go underdog!
ReplyDeleteBut in all seriousness what could a person in their late 20's do besides succumb to the ridiculous ritual of creating debt for education in an economy that requests higher education but cannot afford the educated?
I get sick when I think of how my "over-qualified" degrees may keep me from gaining employment. I know I will be well into my retirement years before mine and my husbands school debt is cleared...if I'm lucky. Debt is the correct term to describe the cost of education. I'm going to go against everything I ever learned in school and cite Wikipedia: Debt is that which is owed; usually assets owed, but the term can also cover moral obligations.
Growing up (in my bubble princess world) I thought education beyond high school was encouraged and rewarding. But what is so rewarding about slaving through the rest of your life to pay it off. Very rewarding. :P
My whole rant & comment was just deleted dangit
ReplyDeletewell here goes attempt #2...
I completely agree with the empathy this blog evokes. I can assume that many students can relate on a more personal level the amount of discouragement and loss of drive.
I agree with harrison and gabriels mommy. Why mandate and inflate the ideal of attaining a higher education if attaining this education will never literally pay off.
If Education cannot be effectively distributed or made @ a more reasonable,or rather attainable, then that entire optimistic future generation of the youth will ultimately become compromised.
And, I believe a dreams and necessary means to succeed shall never be compromised.
I say make the system work for you somehow: rack up the greatest amount of possible debt, max out everything, then once you've drained every possible loan and asset, file for bankruptcy! I hear you're only able to do it once, but if every college student with massive debt filed once they graduated, it might send a poignant message... or it might cause the dollar to crash, but either way it's progress right?
ReplyDelete