What Would You Do if You Didn’t Have Student Debt?

This was the question recently asked by Julia O’Malley, an Anchorage reporter and columnist.  She highlights some of the answers she received here.

The question is timely.  Last week, Congress passed a bill that ties college loan interest rates to the market.  This translates to lower interest rates now, but the possibility of interest rates rising as the economy improves.  Some say this doesn’t go far enough in addressing our national student debt crisis. 

As is now widely known, and as Ms. O’Malley points out, eduction-related debt in the U.S. is at its highest rates in history, due to the increasing cost of obtaining a college education.  A college education is also now deemed expected and even essential for most high school graduates looking to enter the workplace, even for entry level positions.  As Ms. O’Malley cites, between 1982 and 2007, college costs went up 400 percent.  Currently, Americans owe close to one trillion dollars in educational debt; of that, approximately $85 billion is now delinquent. 

One young man in the story aimed to have his debt paid before his 30th birthday and went to some creative measures to accomplish that, despite being unemployed at the time.  He eventually made great strides, but despite his best efforts, it was the generosity of a stranger, inspired by his story he read in his blog, that enabled him to reach his goal.  Now, student debt free, this young man has the freedom to start his own business. 

I’ll be posting the stories of my fellow aspirants over this class period. Take a moment to read them. If you’re inspired, please help aspirants, like us, become free to follow God’s calling in our lives in giving ourselves to Him and the Church: pray, donate, and share with your friends and family, inviting them to do the same.

Thank you and God bless!

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