I graduated from high school in 2002 and went straight to college at the University of Florida. I graduated from UF in 2007 with two degrees: a Bachelor of Arts in Business Administration and a Master of Arts in International Business. I was fortunate to be able to leave UF without any debt, mainly because of Florida's Bright Futures Scholarship Program and some personal savings.
I'd always thought about becoming a lawyer, so I started applying to law schools and chose to attend the University of Miami. At first I hesitated to attend a private institution because of their high tuition rates especially in a city like Miami where life can be expensive, but I'm from South Florida and I wanted to be close to home. I wasn't sure how I would pay for it all so I looked into student loans. The financial aid office at UM was very helpful and was able to help me get the money I needed for tuition and living expenses while in school. I knew I would have to pay the money back eventually, but I thought about the earning potential I would have as a lawyer and didn't think I would have any problems paying those loans back. Unfortunately, my plan didn't involve an economic recession.
Now here I stand three months from graduating, $180,000 in debt and no prospects of a job after graduation. I've started reaching out to everyone I know in hopes of finding something to pay the bills after I graduate, but no luck so far. Every industry has been hit hard; even the legal profession, which was once thought to be recession proof. The recession has made finding a job that much harder because I'm now competing against experienced attorneys who were recently laid off and are also in need of a job. I had originally hoped to have paid off my loans in 10 years, but now I don't know if that will be possible. I know there has been talk in Washington about helping us "student debt-drowners," but I watch politics go on as usual and it leads me to believe that there will be no help for me and the thousands like me. Where's our bailout?
Millions of Americans are struggling to get by and yet Washington seems unwilling and unable to cooperatively work towards helping the American people. I always thought that's what politics were all about. Politicians need to wake up to the fact that most of my generation is willing to cross party lines to vote for someone who will actually work for the people regardless of their party affiliation. So shape up Washington, or we'll find a way to ship you out!
Sec. Arne Duncan: Move Our Money From Banks to Students
Helene Pavlov, M.D.: What's Wrong in the East: What's Right in the West
High school counselors have to stop being shills for the student loan industry and tell students that college is an evil debt trap. They need to warn students that student loans are like child support--you cannot default on them. High school teachers don't tell students to join the army--why should they tell students to borrow money to go to college?
US universities are very good but are very expensive. Unlike our European counterparts a US university diploma goes further and is more likely to guarantee better jobs.
The downside is it will leave you in debt. Either way you will make more money in the end.
Students should not be bailed out. Particularly in the instances of graduate, law, or medicine. I do however feel that a moratorium on loan repayments until the student can find suitable work (I honestly don't think a law student would keep a low paying job in order to avoid paying back loans).
Although I find you situation very curious Todd. How are you just finished with law school and without a job? I have had many friends go through law school and have had their internships turned into jobs (even in these hard times), the only exceptions being the students who were poor professionally and academically.
Nonetheless there are understandable stories.
Hopefully you took some courses along the way in the language of the country to which you're emigrating, made sure there is no extradition treaty between that nation and the United States, and that you majored in something in demand where you plan to spend the rest of your life as an ex-pat.
And don't feel guilty about any of this. Remember, in most Western democracies, you probably would have qualified to go to one of their universities, and wouldn't have to mortgage your soul to do it.
Also, you are correct. The wealthy are conducting war against the middle class, and winning handily. It won't be long at all before only their children can afford college. Welcome to AmericaCo.
I have a master's degree, a full clear multiple subject credential, eight years of experience teaching (six as a substitute)-and I cannot get a full time job as a "real teacher".
I get asked a lot, "Are you a teacher?" The implication being that I am far better than "just a sub"-but that's all I am. And will ever be. They would rather hire people with mere four year degrees, people without real credentials or experience because it's cheaper for them. Someone like me would cost a school district around 60k-about 10 to 20k more than a newbie.
You won't get a job at a big lawfirm unless you are among the top 5 or top 7 in your law school class
or you graduate from a very prestigious lawschool (think Yale type or maybe Northwestern) or you have a close relative who is already a partner at the big lawfirm that you are applying to or you are related to a US Senator.
well, my senator Dianne Fienstein and her hubby stood right next to Obama at the inauguration
her husband, Robert Blum is a regent at UC
yet UC does not provide its employees with whistleblower rights -Arnie vetoed them and
the UC has scandal after scandal going on
Wash DC does not care
http://cloudminder.blogspot.com/
# Operational Mediocrity- Daily Californian (2010)
# UC regents Schwarzenegger and Wachter – are they making a profit from university investments? (2010)
# Schwarzenegger vetoes whistleblower protections for UC workers (2010)
# UCLA consultant involved in accounting scandal (2010)
# More Scandals Uncovered at UC, Yee Requests State Audit (2010)
# UC Admits Misleading Public About Senior Executive Buyout Taker (2009)
# List of Salaries of UC Highest Paid Employees (2009)
# UC regents OK millions in incentive pay to top execs (2010)
# UC Boss Mark Yudof's Case Against Himself (2009)
# U.S. Senator Grassley Raises Concerns About Integrity of Finances at University of California System (2009)
# UC regents award huge pay increases to execs while furloughing staff (2009)
# Audit finds excessive expenses by CSU and UC Senior Administrator (2009)
These are our future leaders, scientists, doctors and entrepreneurs and if the only way to afford the crushing costs of higher education is to be from the wealthier upper classes, then we will become even more highly segmented into the haves and have nots. If you want to invest in your country providing education is the ideal way to do it. Public colleges should be heavily subsidized and higher education and technical training available to the public and a little to no cost.
Tax dollars are to support the needs of the populace whether it is for our infrastructure, our schools or our safety. It shouldn't be all about providing a cheap labor pool for business or one more tax break for corporations and the highest income earners.
Pretty sure that's the basis of this article.
I wish you nothing but the best as you hang your own shingle or look outside of the law for employment.
Our tax dollars are used for a lot of things, many of which protect the wealthiest 3% of the country and major corporations. Every other industrialized nation offers strong support for young people wishing to attend college, and government subsidized heatlhcare. It strikes me as odd that every time there's a suggestion to introduce something into legislation that's helpful to anyone other than the wealthiest 3%, people buy into propaganda pushed by those people and believe that it's ultimately bad for us and our economy. If student loan debt was forgiven, people who currently cannot buy houses, cars, or take creative chances would have the opportunity to do so. It's bad enough that cost of living has increased dramatically while salaries from coast to coast have stalled. I'd welcome the break - and I've always paid my debt on time, have a job, and surrender 1/3 of my income to taxes. I wish I could pick what my taxes went to; I'd happily pay for education, and someone else can pay a banker's bonus.