Colleges and Student Loan Payback

For these graduates the American dream has disappeared. In fact, the students who will most likely start a professional career after college are often only those who graduate from one of a dozen to two dozen top-tier American and foreign universities. These few top-tier schools select only those students from the very top of their high schools. Corporate recruiters have little time to waste on college graduates who attended second-tier universities and have trouble reading and writing grammatically correct sentences

(Note: I refer to top-tier as only one to two dozen colleges across the nation. These are Ivies and several select colleges such as MIT and Johns Hopkins. Second tier colleges are all the rest, well over 99% of all colleges.)

Many Graduates Are Losing Control of Their Lives

When the graduates from these American universities discover that they cannot get jobs, they also discover that they cannot pay back their student loans. The thousands, or in many cases hundreds of thousands of dollars they borrowed now keeps them from starting their careers. The graduate realizes that he or she cannot even begin to raise a family as the financial responsibility with the required payback of student loans is overwhelming.

In fact, a new ingredient of the dating selection process is financial stability. Many young people are wary of marrying a recent college graduate who has hundreds of thousands of dollars in student loans to pay back. You owe how much money? You're not for me!

The sad stories of graduates from American universities play out constantly throughout America. And many students who feel they have no alternative sometimes seek suicide as their way out of the college mess. (note: I continually counsel graduates in this situation that suicide is never an alternative. I will discuss options in other papers).

Others have embraced an old profession that can help them pay back their staggering student loan debt and allow them to survive. This new alternative is an old business: Prostitution

Forcing Graduates to Prostitution and Suicide Is Unacceptable

On December 22, 2011 Amanda F. Fairbanks published an article in the Huffington Post that details the plight of college age women who have resorted to sex to pay tuition or help meet their staggering student loan payments. She reports that current college students and recent college graduates are selling themselves to pay for their degrees or pay down their loans. Website "escort services" pass themselves off as an alternative to women or gays who are looking for work and are in desperate need of financial aid.

Our Politicians Make Sure That Graduates Cannot Discharge Their Student Loans In Bankruptcy

Bankruptcy is not an alternative. Our politicians have deemed that students cannot declare bankruptcy from student loans. You see, getting elected is very expensive. Because politicians need money from Political Action Committees (PACs) they become predisposed to pass favorable legislation for those who help fund their political reelection efforts. These donors include consumer lending institutions such as Sallie Mae and others.

So What's Your Point Professor Roberts?

Our elected officials must change the antiquated laws that serve the financial industry. We must allow our students and graduates to escape their mental "debtor's prisons." We must allow these poor souls to declare bankruptcy and restart their lives.

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