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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Warning to the Next Generation of Student Debtors
http://www.truthdig.com/arts_culture/item/a_warning_for_the_next_generation_of_student_debtors_20120710/Explaining why she works with the United States Student Association in fighting for reform of the student lending industry, Carmen Berkley bursts into tears.
I just dont want anyone to have to go through what I have to go through, she says, speaking of being hounded by lenders and having tens of thousands of dollars in debt she feels she can never repay.
Berkley is one of several borrowers interviewed in Default: The Student Loan Documentary. Another is Matt, who also tears up when he talks about his situation. A former student at New York University Film School, he says that with his debt reaching $200,000 he doesnt think he will ever be financially able to marry and have children.
Aurora Meneghello, who made the short documentary with Serge Bakalian, said audiences respond to this moment in particular. The human consequencesthe amount of debt that never goes away, that destroys peoples credit and makes it impossible sometimes to have a familythat resonates a lot with people, she said. Basic human rights are taken away from you because you cannot pay back money you borrowed.
I think those in congress not protecting these borrowers were borrowers themselves who had jobs when they got out of school... Now the new economy is joblessness.... and these borrowers have no way to solve this debt crisis... How nice it would be if our congress worked to end this cycle of poverty instead of exacerbating it...
sadbear
(4,340 posts)that going to college @ 18 was a colossal waste of time and money. It would have made for sense to wait at least 6 years to go to college. At least for me.
Lifelong Protester
(8,421 posts)but jeez-o-pete, all I can think is that this is another way the 1% want to keep all the goodies for themselves and their kids. Nobody else will be able to afford to go to school, and there seems to be no stopping the predatory for-profit colleges and trade schools.
I am thankful for my education, and very sad when I hear people thinking that they don't even want to think about college or any post-secondary education because of the debt trap.
bluestateguy
(44,173 posts)Do whatever you have to do to avoid that scenario.
Apply for scholarships; get whatever contribution you can from your parents or grandparents; Always apply for financial aid; you can always decline the loans and accept whatever meager grants they give you.
Be willing to elongate your college experience if need be to work part time and go to school part time.
Work during your high school summers to put money away.
Avoid for profit schools like the plague; a nearby state university is almost always the better bet. Some credits can be obtained at community college as well.
These are just some suggestions, and some are not feasible for everybody, I know that, but you do what you have to to avoid student loans. Graduating debt free can help you to weather the tough economic times a hell of a lot better.
jeff47
(26,549 posts)Budget cuts mean even state schools are expensive now. High School summers and part-time during college are not going to make enough money to cover it any more.
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Zalatix
(8,994 posts)Sharing rent is one big advantage of getting married.
However, financial distress practically destroys a MAN's suitability for getting married. Funny, how that goes.
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