By Mayukh Saha / Truth Theory
The student debt – if you are someone living in America, you are probably getting suffocated under its pressure. If you are someone outside, you are just confused about how this system works. The student debt is a travesty – it’s representative of the broken education system of the USA.
The inflation trends have affected the student debt so much so that even graduates end up spending decades to pay off a debt that they took to initiate their college days. It is a hot topic that is coming up often during this 2020 elections, but let’s leave the politician’s hassle to the politicians. The real victims are the students and surveys show it too. A recent study shows that 2019 may turn out to be the worst year for student loans with the borrowers owing over 1.5 trillion dollars in student loans. A College Board survey has reported that the inflationary rates have tripled between 2007 to 2018.
But let’s leave the statistics alone. Look at what the real people, who are victims of this debt trap, say about it.
Wall Street: HELP HELP WE’RE GOING TO DIE WE NEED MONEY
Government: Ok, here’s 700 billion
Students with loans: HELP HELP WE’RE GOING TO DIE WE NEED MONEY
Government: *laughs in capitalism*
— Zac (@zechareyah) June 13, 2019
It seems that Boomers who boast about “starting with nothing” don’t understand that starting adulthood with nearly $40k in student loan debt isn’t the same as starting with nothing. #latestagecapitalism
— Disenfranchised Millennial 🌹 (@pnwLeftist) June 10, 2019
At the age 18 they will let you commit to $200,000 in student loans but won’t give you a $20,000 Business loan…. Think about that!
— Nathan Allen Pirtle (@workwthecoach) June 6, 2019
I graduated from law school 6 years ago with $250,000 of student loan debt. But after years of hard work and tens of thousands of dollars of payments, I can officially say that I now owe $315,000.
— Matt Lane (@MattLaneWrites) September 18, 2018
Since 1987 when adjusting for inflation, the % increase in:
➡️ Tuition costs at public universities : 183%
➡️ Tuition costs at private universities: 142%
➡️ Minimum wage: 20%
➡️ Early career salaries: 3%
This is student debt crisis in a nutshell.
— Ro Khanna (@RoKhanna) June 2, 2019
I graduated undergrad with $38,200 in loans.
To date I’ve paid $20,763.
My balance is: $37,615.
Dear Media: Tell me again how I can’t afford a house because of an avocado toast trend instead of saying how #StudentLoans are a fucking trap that keeps ppl in debt.
— Idalin Bobé – 👩🏽💻✊🏽🇵🇷🇨🇺 (@IdalinBobe) April 22, 2018
I graduated with a masters of Architecture in 2011 with $65k in student debt. I have paid $48k, but still have $50k of debt left.
This country needs Architects, doctors, lawyers and engineers, but we are punished for success. Our education system is broke. #StudentDebtCrisis
— Architects for Pete (@architects4pete) April 25, 2019
When I was 17 I went to get a Limp Bizkit tattoo and when they wouldn’t let me because I didn’t have a guardian’s approval, I cried and punched a lamp post. 3 months later I was allowed to take on $119,000 in loans to go to art school.
— Bill Dixon (@BillDixonish) July 8, 2018
— Tim Wong (@timmWongg) June 6, 2019
“Young adults are being forced to rely on help from parents to survive due to overwhelming student loan debt and cripplingly low wages” there, fixed your headline https://t.co/ZWHeC3KbrE
— Wintour is coming (@RosatiBiscotti) April 25, 2019
Jordan dropped out of Morehouse College due to student loans.
Two years later, he watched a billionaire pay off his graduating class’s debt.
We have a $1.5 trillion student debt crisis and we cannot wait for the generosity of billionaires to solve it. pic.twitter.com/skWKvn4Z57
— Bernie Sanders (@BernieSanders) June 11, 2019
Want to know just how big our #studentdebtcrisis is?
US college grads have $1.56 TRILLION in student debt. The GDP of Australia is $1.4 trillion.
It’s F’ing massive. Our young people deserve better from us — they deserve free college.
— Abdul El-Sayed (@AbdulElSayed) May 11, 2019
“Telling me I need #college in order to get a well-paying job, only to find out 10 years after graduating that I’ll need three well-paying jobs just to pay back the #studentloan? That seems pretty predatory.” @OGpenn @KQED https://t.co/9hKPL4e3Zq
— StudentDebtCrisis (@DebtCrisisOrg) June 10, 2019
If my #studentloans were cancelled I could:
I don’t regret going to college, but I don’t think I made an informed decision. How could a poor, first gen college student do that at 18 years old?
$50,000 is a prison.
— Shaylamee (@Shaleemae) April 22, 2019
Nearly 20 years after beginning college, I paid off my #studentloans today.
— Dr. Paige Harden (@kph3k) January 14, 2019
Since graduating, I’ve paid off more than $110K in #StudentLoans & interest. It has slowed down my ability to chase dreams, accrue wealth, plan for retirement, and provide for my son.
It’s still not a slap in the face to cancel student loan debt. It’s the right thing to do.
— Steve Bramucci (@stevebram) April 22, 2019
Baby boomers kill the economy and exploit millennials and gen z for their labor, creativity and tech savviness. Then allow themselves a massive tuition break while our generations suffer massive student loans. Sounds about right. https://t.co/cpwrFiegl4
— Roll with Mia 🔥🐉 (@SeeMiaRoll) June 11, 2019
I have officially paid off my #studentloans! So that only took 22 years. Now what? I feel like this means I should go back to school.
— SFWP (@SFWP) July 2, 2018
I was $286,000 in debt when I graduated from fucking art school in NYC 8 years ago. Last week I made the final payment. #studentloans
— ✩The Star✩ (@TheStarDamien) September 29, 2017
Let’s hope we can secure the future of our future generation by getting rid of this systemic evil.