Wednesday, December 14, 2011

Class Diary: Student Loan Debt

In the article "We are the Median: Burdened by Student Loan Debt" on MSNBC.com, the story of Megan and Sam Moss is told. This couple recently had a daughter, and are "living" on a combined salary of $50,000 a year. They have $110,000 in student loan debt, and wish to have another child, but know they will not be able to afford college for two children in the future. They talk about how the rising cost of living affects them as their wages are not increasing; a mirror image of the issues we learned in class. They have the median American salary, but still worry what they are going to do if their cars break down or if one of them becomes sick or unemployed. They pay an outrageous $550 a month towards student loan debt and $800 a month towards daycare; something people in other countries never have to worry about.

Luckily, Megan's grandfather was able to pay for her college education, something most middle, working, and lower class people will never be able to do. They also have debt from when Megan was on maternity leave for three months. Something is seriously wrong with our country when families receive no support for having a child. Poverty is a vicious cycle, and is a vicious cycle even for those who are "making it" in our country. There should be no reason why we pay as much as we do to better our minds and families. It is such a shame that in 2011 so many Americans are being forced to live in poor standards and yet they are deemed "well off".

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