{"id":4432,"date":"2019-02-18T01:10:10","date_gmt":"2019-02-18T01:10:10","guid":{"rendered":"https:\/\/www.novonon.com\/blog\/?p=4432"},"modified":"2019-02-18T01:10:10","modified_gmt":"2019-02-18T01:10:10","slug":"heres-why-so-many-americans-feel-cheated-by-their-student-loans","status":"publish","type":"post","link":"https:\/\/www.novonon.com\/blog\/2019\/02\/18\/heres-why-so-many-americans-feel-cheated-by-their-student-loans\/","title":{"rendered":"Here\u2019s Why So Many Americans Feel Cheated By Their Student Loans"},"content":{"rendered":"

<\/p>\n

This article does a good job showing just how crippling student debt has become. And it brings home what an utter failure of moral governance it is that the Public Service Loan Forgiveness program has denied over 98%<\/a> of the people who have put in ten years of public service and requested the loan forgiveness they were promised.<\/p>\n

There\u2019s a reason our current debt situation has been dubbed a \u201cstudent loan crisis<\/a>\u201d: It foreshadows radical shifts in the way millions of Americans, most of them still in early adulthood, will be able to participate in the economy, in society, in the workplace. For many of us, student debt means delaying \u2014 if not entirely forgoing \u2014 homeownership, marriage, and parenthood. This new form of social stratification \u2014 between those who have student debt, and those who do not \u2014 will have ramifications for generations to come.<\/p>\n

I think of a 28-year-old, now in her first year in the PSLF program, with $110,000 in graduate school debt. Her health insurance with a public service employer doesn\u2019t cover specialist visits to the doctor \u2014 so she goes without, because she uses her extra income toward covering her student loans. \u201cI basically can\u2019t have children until I\u2019m at least 38, and who knows if my eggs will be dead by then,\u201d she told me. \u201cI have pretty abysmal views that I\u2019ll save much money at all in the next ten, twenty, THIRTY years.\u201d<\/p>\n

And if hundreds of thousands of people aren\u2019t even saving for themselves, we\u2019re certainly not saving for our kids\u2019 college tuition, effectively ensuring their future monumental student debt. It\u2019s a slow-motion emergency, but because it is built on two cherished components of the contemporary American dream \u2014 the necessity of both debt and education \u2014 almost no one has heeded the calls for help.<\/p>\n

You might not have student loans. You might not be in a student loan forgiveness program \u2014 and, as such, might think that the problems plaguing the thousands who are struggling with their debt have nothing to do with you. You\u2019re wrong. The experience of student debt is isolating, lonely, and often dismissed as the result of individual choices \u2014 but its ramifications span generations and demographics. To actually address those ramifications, however, means looking to the larger, societal issues underpinning student loans in general: how we, as a country, came to frame college and \u201ccredentialing\u201d as essential and how we shifted from one paradigm of funding college to another. Because the only way to actually fix a problem of this magnitude is to really, clearly, see it: what created it, what continues to fuel it, and who profits from it.<\/p><\/blockquote>\n

https:\/\/www.buzzfeednews.com\/article\/annehelenpetersen\/student-debt-college-public-service-loan-forgiveness<\/p>\n","protected":false},"excerpt":{"rendered":"

This article does a good job showing just how crippling student debt has become. And it brings home what an utter failure of moral governance it is that the Public Service Loan Forgiveness program has denied over 98% of the people who have put in ten years of public service and requested the loan forgiveness […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-4432","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p3pfIY-19u","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts\/4432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/comments?post=4432"}],"version-history":[{"count":1,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts\/4432\/revisions"}],"predecessor-version":[{"id":4434,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts\/4432\/revisions\/4434"}],"wp:attachment":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/media?parent=4432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/categories?post=4432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/tags?post=4432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}