A little background on me. I’m almost 35 years old, I went to an in-state university (UC Santa Cruz), I worked two jobs almost full-time during school, my parents helped me financially in ways that they could, and I had to take out student loans that I am not yet, but almost done paying back. I consider myself much luckier than many. I was able to find a way to afford to go to college in a country where getting a higher education has become more and more expected and less and less feasible. I do not for a second think that I am better than those who had to incur more debt in order to do so. The same cannot be said for xoJane writer Jessica Slizewski, who penned one of the most idiotic and tone deaf pieces I’ve possibly ever read on the internet, entitled “Unpopular Opinion: I Don’t Have Student Loans And I Don’t Feel Bad For People Who Do.” Keep reading »
Emily-Rose Eastop, a 26-year-old from London, is crowd-funding the expenses of her master’s degree program. The scientist with a talent for singing and dancing graduated in 2010 with a degree in Human Sciences, and was shocked when she was turned down for over 200 jobs (though it’s worth considering that she only applied for work through notoriously useless online job-hunting platforms). She’s spent the past fours years relying on the support of her mother and boyfriend to live and tutoring biology to make some cash here and there. Keep reading »
Student loan debt in America currently totals $1.2 trillion, and is rising quickly. As graduation day approaches, the class of 2014 might be feeling less than hopeful about their future, faced with a less-than-stellar job market and tens (or hundreds) of thousands of dollars of debt accrued in the process of getting a degree. Massachusetts Senator Elizabeth Warren is working hard to give those students a chance at a life that’s not defined by endless interest payments and constant phone calls from debt collectors. On Tuesday, she filed a bill in the Senate that would allow students to refinance their loans at the current rate (which is 3.86% right now).
“This is an economic emergency, and we can’t ignore it any longer,” she said. Keep reading »
Beyoncé may have already sung about someone “callin’ like a collector” but she’s probably never wondered “if I owe Sallie Mae or I owe the mob.” That’s what Chanel Carroll sings in her completely on point parody cover of “Partition” called (duh) “Tuition” about the loan giant Sallie Mae. Pay all my loans please, I just wanna live the debt-free life … Oh man, as a fellow NYU grad who also used a buttload of loans to pay for school, I so relate to that one. Those student loan collection people are persistent and will hunt you down! Maybe Bey will see this spoof and offer to foot the bill? [YouTube]
Today, New York University costs around $43,000 annually for tuition alone. When I attended over 10 years ago, it was closer to $30,000 annually. If either of those two numbers make you feel short of breath, join me on the floor.
I was able to attend such an expensive school through a couple of scholarships, my parents’ generosity, and student loans. Hella student loans. These days, student loans dominate my entire life. I wish I were joking about that. While I sometimes feel regretful about making such big financial choices when I was young, dumb and 17, I try to remind myself of all the opportunities that I’ve had in life because of those choices. Maybe if I had gone to UCONN, the state school in my home state, I would have gotten a full ride or paid off any loans by now — but I also can’t say how my career would have gone.
But I certainly do wish I had gone through college behaving differently towards money. Here’s a couple of things I wish I’d known so I didn’t have to learn myself the hard way:
Keep reading »
Ahhh, student loans. Or as I like to think of them, that giant hole where I pour hundreds and hundreds of dollars every month. I hope you can buy some fancy couches for the student center, NYU! Imported South African sea salt for the cafeteria? Gold-plated BIC pens for every librarian in the library? Whatever you do with
my your money, I’m sure it’s money well spent. And yes, it will keep coming, probably until I die. The sad truth is that I speak on the phone with the loan servicing lady more than some of my relatives.
Three colleges are not content to just have their loan serving office keep broke grads on speed dial — now, they’re lawyering up. Keep reading »