Loans and Going it Alone

I’m not asking for a free ride; I’m begging for necessary support.

Dear David Webb,

Like so many other young people in this country, I applaud the efforts of politicians who seek to make higher education more affordable. Last month, Elizabeth Warren promoted her autobiography/policy reform manifesto at a local bookstore, and the line to see her in person snaked up the block with hordes of university students. Warren, Bernie Sanders and Obama are our heroes. They understand that the price of a college degree in the United States is furthering socio-economic divide. Because if college is the American gateway to prosperity, why does it only cater to the already prosperous?

I agree and understand that a blanket, Oprah-esque, “YOU GET A DEGREE” approach definitely has flaws. However, that’s not the strategy liberal policy makers are striving for. In the article you cited about Obama’s proposal for federally funded community college, the requirements for receiving aid are explicitly outlined.

Student Responsibility: Students who attend at least half-time, maintain a 2.5 GPA while in college, and make steady progress toward completing their program would have their tuition eliminated. The program would eliminate tuition and fees for all eligible students for a maximum of 3 years. Students with AGI $200,000 and above would not be eligible.

Yes, with a GPA requirement, the possibility of inflated grades exists. Still, if we’re concerned with how inflated grades can affect students once they reach college, we must recognize that the requirements describe grades to be maintained while in college. If the prerequisites for receiving such a scholarship demand that students succeed in college before anything else, there’s an incredible incentive to excel. The family income cap of $200,000 a year would ensure that the people who earn federal aid are those who have limited opportunities for higher education elsewhere. There are plenty of other reasons why introducing and advocating for federal or state tuition aid just makes sense. It strengthens our democracy by empowering those systemically ignored by our current system of higher education. Without the stress of having student loans and inability to pay tuition, students can focus on studying and graduating on time.

Your proposed solution to the higher education crisis has some merits. College isn’t for everyone. Universities often cater to traditional modes of learning; sometimes students neither respond to such teaching tactics, nor find passion in the humanities based education present in most schools. To force kids into a higher education model they don’t want or need is a waste of valuable resources.

Funding those who aren’t fit for college through school is a disservice to those who, according to you, “are willing to work hard and possibly even sacrifice for a while for their future success.” But stating that the solution is to let them figure it out on their own is its own dangerous assertion.

NYU students protest underwhelming financial aid. Credit: NYULocal

I identify as one of those hard working students you described in your last paragraph. I believe that I’m one of “those people who need access to a college education because they are most likely to succeed…Even if they have to do it on their own.” I get it. Millennials shouldn’t be be fed with a silver spoon. We have to work our way through school and some student debt. We have to fend for ourselves. I felt the same way about college financial aid… until I was actually in college.

By the numbers

Before anyone remarks that I made the choice to come to a university notorious for its lack of financial aid and therefore should simply assume that responsibility, I’d like to disclose that NYU was the most affordable way for me to receive a high quality education. With my scholarship, I pay slightly more than I would have if I had stayed in California and went to San Diego State University, but I digress.

Ah, beloved bursar account. Above is an itemized list of the charges and fees I’ve paid to New York University for the Spring 2015 term. The positive numbers are fees, the negative numbers are payments. For some reason, the way it’s broken up can repeat some items and be otherwise confusing, so we’ll break it down.

Fees

1. Tuition: For my specific school, the College of Arts and Science, tuition is $21,873 per semester for a 16 credit course load.
2. Fees: CAS also charges miscellaneous fees for services such their advising center, registration etc. That totals at $1,267 per semester.
3. Housing and Meals: As a first year student coming from across the country, it makes sense that I would live in on-campus housing. In comparison to renting an apartment in New York City, my housing fees are practically nothing. This year my housing fees were especially low because I lived in the cheapest dorm on campus. Next year I’ll have higher housing payments, but since upperclassmen dorms have kitchens, I’ll have a lower meal plan. This semester, housing and meals came up to about $6,316.
4. Misc: There’s also a $30 charge for ID replacement. It’s my own fault for losing my ID so we can ignore that.

Overall, these fees and tuition total $29,256 for one semester. That’s just slightly under 30K. But assuming the kids undertaking such a great investment for their future are willing to work hard for it themselves, how do they do that?

Aid

1. I’m eternally grateful that I received a College of Arts and Science scholarship at NYU. Without it, coming to such a great school would not be possible. I pay approximately the same price as a California resident who stays in the University of California system, with all the benefits of attending a privately owned university. This scholarship is guaranteed for my four years at NYU, given that I maintain good academic standing etc, etc. However, it won’t adjust as the cost of attendance rises. Still, that’s $17,200 per semester that I can count on.
2. Reservation Fees: NYU requires that we pay housing deposits and the like. Once we’re settled into housing or have come back to school, the initial deposits are deducted from our outstanding balances. So while those deposits are “paid back,” it does nothing to alleviate the costs since we’ve already paid them that money.
3. Loans: the rest of those lovely negative charges are my loans. I am not in a situation where my family has enough liquid assets to pay my fees upfront. My mom has been gracious enough to take out PLUS loans in her name, but she doesn’t have the means to repay them — that’s my responsibility. We’ve agreed that any money borrowed for my education is purely mine to pay. While others at my school and at large might have different circumstances, my situation is not an uncommon reality.

The only real aid here is my scholarship. You mentioned that the student loan industry has been heavily influenced by President Obama’s recent legislation. Federal student loans have much lower interest rates than private ones, but they’re still obscene when you compare the way student loans are handled compared to a loan on a car or business. As said by former Maryland governor Martin O’Malley,

“This is outrageous. If we were able to bail out big banks, we can figure out a way to refinance college loans.”

So loans don’t necessarily “aid” my pursuit of a college education, at least not in the current state in which they’re handled by private companies or the federal government. When everything is said and done, I’m looking at $12,056 per semester that I need to produce on my own (or accrue as debt with overwhelming interest).

I know what you (and not just you, but most people) are thinking. If I’m such a hardworking student, why don’t I just get a job?

One of the first things I did when I started school was look for jobs on and off campus. After all, federal work study was part of the stated financial aid package I had received when I was accepted to the school.

PTL for Federal Work Study, amiright?

Testing out a route at NYU’s Palladium Athletic Facility. Credit: Lauren Gordon

NYU’s CareerNet, a site that connects NYU students and alumni with work opportunities throughout the NYC area, was my best friend for about two months. I applied everywhere, wrote about 3 cover letters a week and spent every free second I had tweaking my resume. I settled on working as a Rock Wall Attendant at one of NYU’s athletic facilities. For $8.75/hour I cleaned rock climbing shoes, belayed climbers and set routes on the wall. I fell in love with rock climbing and connected with eclectic, kindhearted members of NYU’s rock climbing community. In order to compensate for the low wages, someone at NYU worked out a deal with Brooklyn Boulders so that we could climb for free there; I just rarely went because I was so busy working and studying. In short, it barely paid anything but was a great experience nonetheless.

So just how much does working a federal work study job help?

So according to the above pay stub, I worked about 24 hours in two weeks. Given the $8.75 rate, that amounts to $210 at the end of the pay period. Now, I was kinda slacking on my hours during these two weeks because I subbed out in order to prepare for my final papers, projects and exams, but let’s assume I worked the maximum 20 hours/week set by the university. That would generate a total of $350/pay period and approximately $2,625 a semester. If we subtract that from the outstanding balance of $12,056 after accounting for my scholarship, that still leaves $9,431 unaccounted for in one semester.

Assuming that my tuition, fees, and cost of living will stay the same for the next three years (which it won’t), and keep my current work study job, I’ll have $75,448 of debt to be paid back with interest by the time I graduate.

Again, I know what you’re thinking: get a better job!

It’s no secret that as we earn our degrees, this generation of graduates is among the most underpaid members of the workforce. Since I’m going into a field where practical experience (read: internships) can be more valuable that G.P.A. alone, I need to be finding jobs that develop my professional skill set. Chances are that these types of jobs or internships should pay more than my work study job, right?

It’s not so cut and dry. In order to get the valuable, paid internships, like at an already established company with name recognition, you have to already have experience under your belt. I’ll have to start small, maybe at a start-up or non-profit (read: unpaid) internship. Given giant cloud of debt looming over my head, that’s not an option. So I’ll have to try to find a job that can hopefully hone these skills, even if they don’t directly correlate to what I’m studying.

Did I tell you that NYU CareerNet was my best friend?

For the fall, I have three jobs lined up. Four if I decide to keep working at the rock wall, but that’s unlikely.

1. I’ll be a College Leader within the College of Arts and Science, guiding a cohort of freshmen through their first year and facilitating them through a mandatory pass/fail course. That’s $1,500 for the year, but let’s halve it since we’ve been calculating everything by semester. So $750/semester. Skills gained: leadership, management, presentation/lesson planning and professional communication.
2. I’ll also be training to be a writing tutor through the expository writing program. In the fall I’ll be going through a practicum with minimal tutoring work with classes and students, and every semester thereafter I’ll be assigned to a Gen-Ed class or writing intensive course as an additional resource for students struggling with essays. I’ll earn $500 for the first semester and $910 for each following semester. Let’s say I only work as a writing tutor for four semesters total. The average honorarium I earn would be about $808/semester. Skills gained: professional peer editing, academic writing in various disciplines.
3. (updated July 13) When this original piece was posted, I had applied to be on staff for NYU’s student publication, the Washington Square News. Last month I was offered the position of Copy Chief at WSN, and hopefully will receive a small stipend for that work. The amount of a staff stipend (if anything) is entirely dependent on the profit of the paper. Nothing is guaranteed, but let’s hope that I make $500/semester. Skills gained: experience in a newsroom, proficiency in Associated Press style, familiarity with each desk’s purpose and functions, reporting skills and practices, etc.
4. Let’s be generous and say I still work at the athletic facility, even though I’m taking a full class load and have two other jobs. I would definitely have to cut back on my hours if I stay, and the minimum requirement is eight hours per week. The rate will most likely stay the same unless New York state raises the minimum wage again. Using the same estimated 15 weeks per semester, I’d be making $1,050/semester. Skills gained: none (unless I want to write for a climbing specific publication, such as Rock and Ice).

This doesn’t account for internships, paid or unpaid. I’d have to sacrifice one of my jobs in order to manage my schoolwork and professional experience. It also doesn’t factor in volunteer work or other extracurriculars, which are rewarding, but time consuming. Assuming my job options and fees are stagnant for the rest of my tenure as an NYU student, I still come up short $8,948 each term. By pursuing multiple jobs that might give me a higher advantage in entering the post college workforce, it’s possible for me to make less money than I would cleaning climbing shoes at the the state minimum wage. Also, if I commit to four jobs and a full course load, my studies, G.P.A., health and relationships could suffer. In the end I still end up with so much debt, you could buy a private island with it.

This is why I take offense to the idea that the solution to the higher education crisis is to let natural selection take over and assume the most dedicated and hardworking will persevere. Students are drowning and only those who were already wealthy or otherwise extremely lucky survive. I want to pull my weight and not have to depend on anyone, especially not my parents or the government, for a hand out. You’re right in saying that prescribing “College for All” is not the answer to the plethora of issues that stem from the current state of higher education. Maybe “free for everyone” college isn’t the answer, but thinking of student debt as a means of testing work ethic is certainly not the solution either. Yes, there are definitely some students who treat a college education as an effortless stamp on life’s passport, but you can’t exile all Americans from visiting Italy just because two kids from California decided to write on the Colosseum.

I know for a fact that I want and need a college education. It’s a little early at this point, but I might even want to go to grad school. I excel in my classes, enjoy the company of my peers and professors and am confident that what I’m learning will be put into practical use. Aside from the crushing anxiety that stems from the financial strain of pursuing higher education, I’ve thrived at NYU. I told myself I could do it on my own and am working incredibly hard to achieve that; but I’m not sure if that’s at all possible.

Despite these concerns, I’m one of the lucky ones. After all, NYU is paying almost all of my tuition; it’s mainly housing and other miscellaneous fees I have to worry about. College is and should be challenging, and I accept all challenges, academic or otherwise, wholeheartedly. But I still maintain that refusing to reform higher education places an undue burden on students from working or middle class families striving for upward social mobility through a college education.

College doesn’t need to be completely free for everyone (although it’s worked fine elsewhere), but it must be reformed. I am willing to sacrifice my sleep, my sanity, extra amenities and every waking moment of time possible toward my education. I am willing to go to class from 9:30–4:45, work from 7:oo-10:45, then attempt to study or write papers until early morning. I am willing to sacrifice everything and more.

The question is: if an educated citizenry creates businesses, jobs, a more informed electorate, and might even make us happier, why are we forcing college students to surrender everything to attain that public good? Instead of attributing the higher education issue to a narrative that depicts students as entitled, incapable of motivating themselves and undeserving of a fair chance at an education, we should closely examine the other side of that lens. The way things are structured, those in power are counting on lower income students to fail. If we give up on completing our degree or are forced to work in environments that don’t utilize our education so we can begin to pay off debts, we maintain the status quo and aren’t a threat to the One Percent.

We don’t need to challenge that status quo; we need to shatter it.

How we do that is by radically increasing access to a college education. For those who have the willpower to make it on their own, but not the means. Today, higher education is available, but not accessible for many Americans due to the financial burden it presents. If that were to change, it’d empower those who are too often seen as lazy or incomptent. In reality, those underserved populations can be hard working and even more deserving of a college experience: they just have a lack of opportunity within the existing confines of America’s higher education model.