Indebted

A student's first-hand account of student loan debt.

Month: November, 2013

Feature Story: Ashley Johnson

Ashley Johnson’s world revolves around fashion: From the outfit she picks out to wear each morning, to the creations she designs for her fashion merchandising classes, Johnson definitely has a passion for fashion.  However, the fashion industry was not Johnson’s first choice career-wise.  In fact, neither was attending Eastern Illinois University.

 While applying to colleges in 2011, Johnson, a sophomore fashion merchandising major with a minor in textile design, did not put Eastern Illinois University at the top of her list. Johnson, a Smithton, Illinois native, originally wanted to attend Bradley University. “Eastern was not my first choice in going away to college,” Johnson stated. “It was Bradley University, because I wanted to be a nurse and I know that they have a great nursing program. I decided to come to Eastern because I thought that it would be more affordable for my parents, and more affordable for me out of college when I have to pay off student loans, as well.”

 

When asked if student loans were the main reason for her change of direction, Johnson said that it was. Johnson stated that the ultimate reason for her decision to come to Eastern was so that her parents wouldn’t have to take out as much money as they would have if she had chosen Bradley.

 

“With loans, and interest, I didn’t want to be in a lot of debt when I graduated. I wanted to at least have a good start paying off my loans.” Johnson’s decision to come to Eastern also affected her choice of major, as well. “At first when I came, I was a nursing major, but then I realized that Eastern didn’t have that strong of a nursing program. Fashion merchandising was always another option for me. I love fashion.”

 

Overall, Johnson said she is happy with where she is in her major. “ A part of me wishes that I could have gone to Bradley and studied nursing, because nursing is a very rewarding profession. I would have been doing something that benefits a number of people. But it wasn’t until I changed my major that I realized my deep love of fashion.” 

 

Links

“Student loans” is such general term. Student loans is not just a singular issue; what many people do not realize is that there are many types of student loans. Often times, the type of loan that a student uses affects how and when the student will be able to pay them off. This article gives a great description about the types of student loan options that are available to students, as well as the requirements that is needed for each loan type. I believe that this article is a great starting block for any student that wants to educate themselves on the basic principles of student loans. 

In his article for The Huffington Post that was published last week, Shahien Nasiripour gave insight to the severity of the student loan debt crisis. Since student loan debt is centered around, naturally, college students, most people believe that therefore it affects only them. These people are incorrect. Student loan debt affects the entire economy. According to the article, the federal government made tens of billions of dollars off of it’s student lending operation. Nasiripour goes into further detail about the immorality of the government making profit off of students. This is a fantastic article in terms that it depicts the severity of the student loan debt crisis. 

Time Magazine has also recognized that student loan debt is hurtful and detrimental to the economy. In his article for Time, Dan Kadlec compares the student loan debt crisis to the mortgage crisis. While Kadlec writes that the mortgage crisis is on the mend, the student loan crisis is dragging the economy back down. Not only this, but he relates the two crises. This article is intriguing in the sense that it shows how two un-seemingly unrelated issues have the ability to affect not only students, but everyone else.

The Seattle Times recently profiled a young married couple as they strive to live in today’s economy. Both are in their early 30s, and both are continuing to pay off their student loans. This article is a great example of the hard work, determination and patience it takes to pay off student loans. I also believe that many students think of paying off their loans as a far-away, abstract concept: Part of this feeling comes from being young, and most of it comes from inexperience. This couple realized that their spending habits were inhibiting their ability to pay off their loans, and together they made the decision to work together. This article personalizes and humanizes debt. 

Who do Americans want to look to for reassurance in a crisis? The President. With his calm demeanor and inspiring speeches, President Obama is likely to give at least some students the reassurance they need. In August, the president released a new plan that will allegedly reduce student loan debt for loan borrowers. In times of crisis, having the leader of our country enact a plan to help those in need gives (at least) a small sense of comfort and eases the feeling of helplessness that some students may have.