Originally published on June 12, 2013
The day I accepted my job as an entry-level government attorney making $43,350 a year was one of the happiest days of my life.
I had finally landed a job—a dream job. And maybe most importantly, I knew there would be a light at the end of the tunnel: an end date on my student loan repayment. Because with this job, I could ask for forgiveness.
I graduated from law school with excellent references, phenomenal internships and clinical experiences, fantastic grades, and a quarter million dollars in debt.
In a better economy, I would have had an offer before graduation day. Instead, I graduated and lived in a state of stress, fear, and anxiety for a year while I looked for work. I worked odd jobs on top of other odd jobs while applying for every legal position available within 200 miles.
President Barack Obama joined David Karp, the founder of Tumblr, for a live chat about student debt Tuesday. One-third of Americans who applied for an educational loan this year also have a Tumblr account, said Karp, who fielded questions about educational costs submitted by Tumblr users. Here’s what POTUS had to say to today’s students.
My student debt was manageable, unlike yours.
Obama said that when he graduated with an undergraduate degree he was able to pay off his student loan debt in a year with a job that wasn’t particularly high paying. But today student loan balances average about $30,000.
Any Billfolders graduating college come May? Grad school? Commencement-themed porno to participate in? DO THIS. I will be your best friend. Or post a photo of it. SFW only.
Generation Progress (formerly Campus Progress) is putting together state-by-state factsheets about the student debt crisis
. They've done six states so far, including California
, where I went as an undergrad. State and local funding dropped by 25.4 percent in the U.C. system in the last decade, and in-state tuition has now skyrocketed by 114 percent, according to data from the College Board.