- The University of Minnesota — Twin Cities Campus (2nd ranked in the country for my major)
- Double Majored in Chemistry and Chemical Engineering.
- My thinking was: Average starting salary for Chemical Engineers after 4 years of school is about $60-$65k a year, Taking $100k in debt shouldn’t be a problem, I can live off of $50k a year easily and just put the rest towards paying it back.
When I graduated in 2008 it took me 4 years to find a job in my field. I worked 60 hour weeks at two part time jobs in the interim to make loan payments and still had to go another $20k in credit card debt to make ends meet. When I finally got my job it only paid $52k. 65% of my income went directly to make minimum payments on my debt.
At the bare minimum, I signed those loan documents with the implicit societal promise of a good job upon graduation. Society defaulted and not only do I have absolutely no recourse, the ass holes on wall street that created the whole mess are the ones I have to make my checks out to. Then Obama let them buy a get out of jail free cards via campaign contributions. And Clinton is now such a fan of Citizens United that she is using it as a defence: “Name One Time I Changed a Vote” and sends fundraiser emails complaining about all the Billionaires funding republicans…. smh. No Bank to big to fail, no donor too big to jail.
I think the the Oligarchs in charge of everything in this country completely forgot that having an educated citizenry is a good thing for the long term stability of this country. They think that they deserve every last penny that they have manipulated politicians into steeling from poor and working people. They see no public good in having a well educated workforce. They are even trying to dismantle High School with vouchers and charter schools. The dumber the public gets the easier they are to manipulate with propaganda.
The only thing that will get the economy moving is to restrain the predatory financial sector and do a modern day debt jubilee. I would also be ok with putting every wall st CEO in the stockades.