The Spector of Student Loan Debt

2009 July 1

tags: debt, debt management, economic crisis, economic downturn, personal finance, student loans

by experienceaurie

This subject matter really hit me to the core especially after watching a video that crystallized the issues surrounding student loan debt. I urge you to take some time out to watch this PBS sponsored video: Student Loan Sinkhole?|NOW on PBS.

I have been so galvanized by this particular example that demonstrates why there is such a need for financial literacy in this country and all over the world. Outside of the nuts and bolts of good money management, it is clear that there needs to be a spiritual, mental, and emotional change for so many people in order to take control of their lives.

I find myself giving tough love to so many people in my line of work and it’s no surprise that the numbers are so devastating. This one is certainly an eye-opener.

You will need about 30 minutes for this program. Be sure to open it in a new window or a new tab. I will be looking forward to hearing your thoughts as you take in this case study/example of what so many people are going through today.

Also watch the video by clicking here.

5 Responses leave one →

2009 July 2

Cynthia permalink

It is so true! That is one of the reasons why we started our blog, to tell people to STOP spending and Start Saving, living frugally. We throw in funny stuff, but the msg is hopefully very clear!

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- 2009 July 2
  
  redleader83 permalink
  
  I can’t echo these sentiments enough. Great post!
  
  Reply
2009 July 4

Jamaican Jewel permalink

Wow!!, knowledge is definately power when it comes to these things..

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2009 July 6

GC permalink

I haven’t had a chance to watch yet. Still at work
But have to jump in and say I have so much debt
I would advise anyone to think, and think again before decided to extend their education in the absence of tuition reimbursement. A BA is great. A MA is nearly always useless unless it’s an MBA. And a pHD means you are expensive to hire.
Why pay lots and lots for a piece of paper. If I had to do it over again I would not have gone to graduate school, ever.

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2009 July 12

experienceaurie permalink

Thanks for your input everyone. This needs to be at the forefront because there are so many people now who look at the college degree as a must have, but there is a lot of planning that must take place once you do get the degree.

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