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.
Teachers make no money, And for “causes” I lack passion. I simply am too risk-averse For media or fashion. I thought I’d be a doctor, But I failed organic chem. When my friends went off to law school, I thought, “Why don’t I join them? Here is a profession Where you go to school and then You have employment guaranteed Once at the other end.” And so I’ve spent three lengthy years With Latin words and torts, Amassing debt and studying To one day work in courts. But now—thank you, economy— I’m temping and in debt. There’s lots of us and too few jobs, And I’m left with regret.
Emma D. Miller vandalized lockers with rhyming poems in high school. Now she works at a film festival in Durham, NC. She tweets mostly about documentaries.