Student Loans: Gateway to Debt Slavery

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Wed, May 9, 2012 - 2:38pm
#33
bibi miami's picture
bibi miami
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federal student loan debts

Recently, $100.00 per month was deducted from my Social Security retirement benefit, and will continue until I am dead. At one time one could file for bankrupcy, but no more! And the statute of limitation no longer applies either. By law, the minimum amount Social Security will send is an untouchable $750.00 per month. So, to offset the $100.00 payments I applied and received an apartment in Public Housing at a ridiculous rent, and because my income was reduced by $100.00 per month, my rent had to be decreased by a whopping 30%, a saving of $30.00 per month.  I also get free lunches five times a week, that's a saving of about $60.00 per month. In addidtion, and because my income had decreased, my Food Stamps benefit were increased by $20.00 per month, that's a total of $110.00 per month in savings.   I am ahead by $10.00 per month!

Fri, May 11, 2012 - 2:20pm
#34
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Poet
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Chasing the American Dream: Recent College Grads and Recession

(Note: Cross-posted to the Daily Digest for Friday, May 11, 2012.)

Don't know if this was shared before, but another study came out of Rutgers University earlier this month:

Amongst the findings:

  • Only 51% of those who graduated college since 2006 were working a full time job, with an additional 3% in the military.
  • Only 40% said they were working in a field closely related to their major, 37% wish they had chosen a different major.
  • 57% of those who graduated 2008 to 2011, and 39% of those graduating in the pre-recession years of 2006-2007, reported receiving financial help from parents or other family members.

Chasing the American Dream: Recent College Graduates and the Great Recession (May 2012)
http://www.heldrich.rutgers.edu/sites/default/files/content/Chasing_American_Dream_Report.pdf

Highly recommend sharing with people you know in high school or college who are contemplating what to study in college. I used to know a girl who chose to major in history despite all my entreaties to the contrary. Well, she's got her degree a few months back - but she's still working a dead-end retail job.

Poet

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