Posted on 02/12/2008 5:09:19 AM PST by rightwingintelligentsia
In the same soft-spoken manner that she uses to counsel patients and families facing end-of-life decisions, social worker Elana Gonzalez presents a fact of her own future.
"Two-hundred seventy-three dollars and sixty-one cents a month for 30 years," she said, describing her student loan payment. "It is disgusting."
Ms. Gonzalez, 25, knows that she would never have been able to secure the job that she loves as a clinical crisis coordinator at UPMC Shadyside without having her bachelor's and master's degrees.
But for the generation that includes Ms. Gonzalez, those educational achievements have come at a price: Nearly two-thirds of graduates of four-year colleges have student loans.
And with college costs rising faster than inflation, the average cumulative debt for graduating seniors is approaching $20,000, more than double that of 14 years ago.
In ways large and small, those loans are changing the way that this generation lives. Even in the best of circumstances -- in which education does help land the job of the student's choice -- the monthly payments are often accompanied by dread, anxiety and uncertainty.
"It's hard to come to terms with; you're just going to pay it forever," said Ms. Gonzalez, who has about $52,000 in loans from her Chatham University undergraduate degree and University of Pittsburgh master's degree.
(Excerpt) Read more at post-gazette.com ...
I worked during college...no parties, frats, etc. Came out debt free.
Ms. Gonzalez, welcome to the REAL WORLD. You’re going to have large monthly debts for the rest of your life.
for later
Social worker? Clinical crisis co-ordinator?
Here’s a thought—Get a job for which there is a real market demand.
Colleges and universities are complicit in this, raising their tuition and board fees with imounity knowing that students would take out even more student loans to get through the full four years.
Sure, I’ve got a student loan payment, but the career advancement I’ve had as a result of getting that first degree (like being hired by an employer who paid for my graduate degree), allow me to easily afford my $190.00 monthly student loan payment.
I’ll never whine about it. I consider it money well spent (low interest money at that).
“educational achievements” don’t mean “financial achievements”.
If the system isn’t working, find the ones that are. Go to college, get a nice degree or three, and you’ll be set no longer works. Sorry. Keep teaching your kids this plan and you’ll continue to doom them to a “lifetime of debt.”
Me, too, but as a bartender, so I enjoyed plenty of partying.
“I worked during college...no parties, frats, etc. Came out debt free.”
Same here.........I think we’re on to something!
Still, working can defray the cost immensely. I also commuted to school, didn’t live on campus. I was fortunate to get a job in my field of study through the career center. While I was there, they offered me a full time job so my studies switched to part time. It took me 6 years to graduate, but I worked my tail off both at my job and in school, and came out debt free. It can be done.
What? She thought it was agoing to be free?
I saved and paid my student loan(s) off early.
They thought I was crazy when I showed up at the student loan office to write check, even saying “most just don’t pay it back at all”.
$52,000....and she’s a social worker??
Bingo. College tuition has been increasing faster than the rate of inflation for many years now. Not only do most schools fail to give students enough financial aid to meet their financial need, they charge students for every little thing, from parking to laundry. Of course, the more money the student earns, the less financial aid he is eligible to receive.
Finally, let’s not forget that there is a big difference between subsidized student loans, which do not accrue interest until the student graduates, and unsubsidized loans, which start accruing interest immediately. A student who graduates with $20,000 in subsidized loans will pay back much less than one who graduates with $20,000 in unsubsidized loans. The latter will have to pay back twice the amount that he borrowed.
Another generation programmed to want something for nothing.
I came out of College and Professional school debt free save one. I owed the USAF four years. Very good trade off for 8 years of paid education.
I work a third shift job to put my kids thru school. My direct deposit goes straight to my kids accounts at their schools. I keep $75 per week. Borrowed money is no way to attend college.
My daughter is a grief and crisis counselor ... she got the job by volunteering during high school and after - showing that she was reliable and competent - and was offered a paying position after graduation ... that was 8 years ago.
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