Congrats: You graduated with $100K in loans! By Nick Sorrentino on December 11, 2011 In the attached article the author tells the story of a humanities grad student who was loaned $50,000 for her degree and is now burdened with the debt as she enters the real world. Another featured student graduated from Fordham Law with over $150,000 in debt. Now he can’t even imagine having kids with the financial cement block hanging around his neck. There is a whole generation of people entering the work force, or trying to enter the work force, which is saddled with enormous debt due to student loans. For 2 generations we have been told that the only way to get ahead in life was with “education.” More correctly we have been told that the only way to get ahead is with a “degree” or multiple degrees. My entire life I have heard about how college graduates, and then masters degree holders, made more money than their peers. We are told that debt for educational purposes is “good debt.” The Great Recession has smashed all this. Many of those just younger than me sought refuge in grad school as a way to hold the harsh winds of reality at bay for a while. For many grad school was a place to go while the economy sorted itself out. After all, by the time they graduated the economy should be back on the upswing. It’s a smart move. 2 years in school. I pad my resume. The economy turns around and then, hey it’s fat city for this grad student.
Posted on: Fri, 14 Mar 2014 14:53:28 +0000