"Shackled by Debt"

My blog title comes from the first picture in the Huffington Post article, “Obama Administration, House Dems Push to Prevent Student Loan Rate Hike”. The picture embodies what many students already feel—that they are unable to envision a positive and prosperous future thanks to the overwhelming student debt they have. This article (found here), reports that Rep. Gary Peters (D-Mich.) and Rep. Joe Courtney (D-Conn.) are working to prevent the doubling of the Federal Direct Stafford Loan rate from 3.4% to 6.8% come July 1, 2012.

Opponents to the rate freeze argue that by not raising the student loan interest rate, it would cost tax payers close to $6 billion.

Sadly, I am a card-carrying member of the “Shackled by Debt” Club—a dubious honor I wish I never had; hence why this topic makes me so angry and disillusioned. When I was a junior in high school, my mom took me to every college fair in our area. She pushed me to pick the college that had the perfect fit for my social and academic needs, rather than on the price tag. Like all parents in the late 1990s, she assured me that a quality college education would be worth it in the long run. So what did I do? I got a Masters in Education—at times like these, I wish I had been an accountant instead.

Now, in a position to counsel students on which career path they should take, it is hard for me not to tell them to choose the major with the most earning potential. It pains me to ignore my liberal arts education background or the passion I have for developing well-rounded students, and push for a job that will make rent, a family, and a new car possible.

What happened to our country? What happened to the generation that was told to do “what makes you happy and the rest will fall into place”? What happened to the prosperous United States that had a highly educated work force? I’ll tell you what happened to it—greed became more important than providing a future for the next generation. Who cares about the hundreds of thousands of college graduates who cannot afford to move out of their parents’ house because their student loan bill is more than their car payment!

Even with rent and utilities paid for, I can barely make my $500 a month student loan payment along with my other expenses, which do not include the occasional contribution to a pathetically small savings account. Thanks America for forcing the mantra “education is the key to a bright future” and then abandoning us when we graduate.