The Student Loan Generation

Student Loan Generation

THREE THINGS TO KNOW

We, mostly what they call ‘millennials’, are from parents who told us as we grew up that to get ahead in life, you needed an education.

Our parents had the right and noble train of thought. How many of these statements ring true to you?

-We want you to have more.

-You don’t have to be poor.

-College is the answer, you need to go to college ‘no matter what’.

Those ideas are good in and of themselves. They, our parents, wanted us -us now 20 to  30 year olds, to have a good life with a great job and a quality education that they dreamed about. However, that dream became distorted and we are educated, debt riddled adults now.

My Degree in Business has cost me, the last I looked, about $75,000. The job I currently have, I could have gotten without that degree.

Now, don’t get me wrong.

I don’t blame the government. I don’t blame the Student Loan Industry (though, I believe certain things could be done better to help educate the children coming out of high school). I don’t blame my parents.

It was my decision, in the end, and my choices. I did want to have a better life, to have a certain amount of comfort. I figured that everything would be perfectly fine and that I’d have a great job and live in a nice home. That was the dream. And I still don’t want to lose that.

I will not give up that hope. That dream.

I do know that it was all on me. I should have read the papers.

Read what I signed.

Perhaps a better understanding of  exactly what was happening when I signed those papers.

So, here’s what you need to know about Student Loans.

AVOID THEM.

runaway2

You can’t get away from them. There are only two ways to become free from the loans and that is:

  1. Pay them Off
  2. When you pass away

Other than that, you can’t have it discharged in bankruptcy court. It’s yours – quite completely. I’m writing this post to you for one very important reason: To let the next generation know the realities of education. Or more to the point, taking out loans to fund that education.

Yes, it is so very important to better yourself. I don’t disregard education in the least. I love to learn!

However, know what you’re getting into here. And it wasn’t so long ago that I was an 18 year old and that thought “it could never happen to me” was quite frequent in my mind.

Please, don’t think that and sign those papers arbitrarily. It could happen to you. It’s happened to a large number of us already.

According to the College Website, we are approximately $1.2 Trillion in debt due to Student Loans.

Image Courtesy of http://www.datato.org/college-loans-wont-disappear-with-debt-relief-plans/
Image Courtesy of http://www.datato.org/college-loans-wont-disappear-with-debt-relief-plans/
That’s a lot of money, my friend.

So, here’s the deal: Look at the papers. Consider how much that degree you want so badly costs.

Understand what you will have to pay back – because you will have to pay it back. Why do you want to go to college anyway?

Is it because you want to or because of some other reason? Is someone telling you to?

Make sure that this choice is made with the utmost confidence – that you’re a ‘trillion’ percent sure this is what you want. Look deep inside and ensure what you go to school for is something you’re passionate about. I say that to you because this is your life and the choices you make, you will have to carry for a very long time.

Don’t let others dictate how you’re supposed to live. If I had been stronger, I would have done what I wanted to in the first place. Getting a degree in History and Archaeology was what I wanted to do (and I truly would still love to do so if I could) and I should have applied for more scholarships .

Taken it in steps.

I wanted to travel during the summer to archaeological sites and teach somewhere during the school year.

Now, I know that those careers are hard to come by but I would have at least not worried so much about what others wanted me to become.

So, here’s the thing – my advice:

Instead, apply for scholarships. Work your way through college and consider going to Community College which often has a much more cost efficient price. Put a plan in place like I didn’t do. And do what you feel in your heart of hearts is right for you.

Basically, learn from my mistake. Research and be informed.

Advice truly is a form of nostalgia.

If you’re reading this, I do hope that my mistake has served you well. If you take any of my advice, I do wish you well. If you don’t, I also wish the best for you.

Here is a video more about the Student Loan Crisis:

If you’re going through this difficult time, know that you’re not alone. And some way, somehow, we will get through this.

Never give up hope.

Love and Light Always,

~Susan Reed

Note:  If you are in a tremendous amount of debt, please be warned of another problem associated with them. The ‘scammers‘ who call and claim they’re trying to help you. More often than not, they’re trying to make a bad situation worse. Again, research EVERYTHING you sign. You don’t need to pour salt into this very large wound.

A bit of music to lift your spirits.

 

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