Millennials are the generation of children who were being told that college is your golden ticket to secure an excellent future. Some of us were among those labeled first gen college students. Quite the celebration, right? Or was it? 17 year olds- first gen college students- in the family being told that they can do, go or be anything. "Go get that education." Apply for grants. Apply for scholarships. Oh? Not enough you say to cover your 2-4-8 years of college? "There's a loan for that; get a cosigner." No one ever asked us, "Did you take a financial literacy class?" "Do you understand what you are signing?" Nope. No questions asked. "You're education is paid for; enjoy your 2-4-8 year college experience."
2-4-8 years down the road, after millions of young teens are told to go to college, these millions of students start learning that they have to fight, compete for only hundreds of available job openings. "Wait, so my degree DOESN'T guarantee I get a career in my field of study? A rip off." They soon look for the nearest call center or mall or grocery store and apply there. They then receive a letter in the mail as a reminder that not only were their dreams crushed, it's time to pay back the student loans... with interest. I didn't know the government was like the mob. Now that group of students have rent, electric bill, phone, groceries, car note and insurance or monthly bus fare, with a minimum wage or entry level job, and... uh oh... What's this?... interest on the student loans begin to increase. But no pay increase. After a year of living in an apartment, being a great tenant, paying on time, you go to renew your lease, and... What's that? The rent goes up. Something about market value and more stuff that has nothing to do with you. Still no pay increase.
2008, banks get bailed out. But no pay increase. Rent goes up again. Car insurance goes up. Bus fair goes up. Price of groceries go up. Airplane tickets to fly home go up, making it harder to afford to travel to see family.
After 5 years working in that entry level position or retail space or grocery store, finally get a .50 cent raise. Robbed of time and energy. Still haven't paid the principle of the loan and the interest just "can't stop, won't stop."
To you older people, who get all kinds of government assistance via young people's tax dollars (young people with families to take care of)... and to some of you older people who didn't have to pay 10s of thousands of dollars for your education... and to those who had access to resources and education about student loans and were able to find a decent job that allowed forgiveness after a certain amount of years or allowed you to afford to pay on a consistent basis... and to those of you who had well-off friends and family or even a spouse to help you out during your financial struggle... please do not look down or find fault in a generation that was sold into a lie that told us all of our young lives that higher education would pave the way to the American dream.
Don't look down on a group of children, 80s babies, 90s kids who not until days before there graduation were called in to meet with the financial aid officers-- those same financial aid officers who signed teenagers up for student loans without educating them initially on the negative impacts student loans could and would have on their lives moving forward-- to suddenly discuss what was about to happen once we graduated and how the financial burden was on the way. No official career. Not even intern opportunities to get connected and build a resume. A lot of us were uninformed coming into this thing called college. Imagine getting a degree and "that education" and then turn around and be uneducated at the same time. We were just happy to be doing something that was supposed to be life changing for us and possibly our families.
But a lot of us have discovered that our "private" schools used us, our degrees mean nothing and it's who you know that matters, not your degree.
If we can bail out banks and bail out failing airlines, why not bail out students who were lied to-- an entire generation of people-- who were told that without a college degree you cannot make a life for yourself. Not only were student loans cosigned by parents who had never gone to college, some of these parents were impoverished and knew nothing about financial literacy themselves. They just cosigned something with hopes that their children would go farther than they could have imagined.
Credit card companies also targeted our generation as soon as we turned 18. Nothing fair about it. A lot of you aren't happy about that little $10,000 debt relief but have no qualms about the money sent to Ukraine (or maybe you have complained about that too). I rarely hear Americans up in arms about the money sent to Israel each month, while there are schools that are struggling, teachers that are begging for better pay, an outdated transit system, homeless children and veterans... this list goes on and on.
You are directing your anger towards fellow Americans who actually need and deserve the relief, but won't protest where most of our tax dollars go on a monthly... nah... daily, basis. Some are okay with the likes of Jeff Bezos, Elon Musk, etc... not paying a dime in taxes, and won't be protesting on your own behalf about the 20+% in taxes that is taken out of the pockets of middle class (no such thing anymore) citizens' paychecks bi-weekly. You're not upset about that but somehow debt relief is now something you don't wish to pay for with your tax dollars. Give me a break! Oh wait, Biden just attempted to do that for your fellow Americans. Although, so much more can be done. Education reform is needed now and yes, that too, will require your tax dollars. Or maybe we should start demanding that billionaires pay 20% out of there paychecks and people making a million or less only pay 5%. Or... or... let's keep complaining and fighting each other versus directing that anger towards a very corrupt nation. USA! USA! USA! USA! USA! Right?
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