School Loans: The New Debt for our Children

When I taught college English, I had a friend who ran the financial aid department. I went to him for advice when I decided I would cosign my niece's school loans for the expensive ($30.000.00 per anum) college I had urged her to go to since she was in the eighth grade. He said that for the next generation, their greatest payment that they spent time trying to pay off would not be their house payments, but their school loans. I think he may be right.
When said niece went to start paying her school loans, to her shock, the monthly payment was going to be $1400.00. She had gotten a good job, the very one she wanted, in her field, and the pay for a beginner wasn't bad either. But with rent in Washington, D.C., even with a roommate, she quickly learned that she wasn't going to be able to make that payment. She was going to have to consolidate her school loans.
Now my niece did get some financial aid, and she also got several scholarships, but there was no way in the world that she was going to be able to pay those school loans without consolidation, and even when she did consolidate the loans, they were still going to be a heavy burden. But what to do? Her education was very worthwhile, and I know for a fact that she not only wouldn't have gotten the knowledge and experience at a state school that she got at this private college, she also benefited from some great connections that resulted in her getting her rather desirable job.
So what are students to do? As a teacher, I know that the cost of an education is not out of line with what it takes to run a college - in fact, without contributions from alumni, the colleges would go broke! What is the answer? If you have one that is better than school loan consolidation, please let me know.

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Grrrrrrrrr.....

Argh! (As Snoopy would say). I'm busy, busy, and tomorrow, I must go to the bank and wire my nephew at University his allowance for this month (yes, it's late, and yes, it's my fault! :-( ) I just hope he hasn't starved to death (or run out of beer).


I think that having my studio in my husband's office is going to be okay once everything gets worked out okay. My wireless internet is finally set up (hurrah). He disconnected the Sirius or whatever music that is piped in to all the rooms (I can't stand to listen to other people's music all day without relief; I need some silence), and I am going to call and get the cable for the tv run to my office so that I can have Law and Order on in the background. If they would run Law and Order all day, I could work until I dropped. I don't know why, but it is comforting (and probably blocks out other people's noise).
Any show will not do. Some of the A&E programs will work - but not the really stupid ones that they have now...like "Dog: The Bounty Hunter" - who watches that shit anyway? At one time, A&E was truly the Arts and Entertainment (the entertainment being mainly musical performances) and now it's just more crapola. "Growing Up Gotti" or better entitled: "Eavesdropping on Self-Important Morally Bankrupt Conspicuous Consumers Who Think That Their Lives Are Worth Something" (okay, everyone's life is worth something, life is precious, but you know what I mean). Who watches this? Who has that much time to waste?
Grrrrrrrr..... C'mon now, say it with me...you know you want to! life real life everyday life Growing Up Gotti Gotti television TV Law and Order bounty hunter Dog bounty hunter people work life's Enigmas personal blog