The Bitter Graduate


NAME: Lauren Smith
AGE: 24
OCCUPATION: High School English Teacher
EARNED: Bachelor’s and Master’s in English Education
CURRENT DEBT: $30,000





Meet my sister, a 24-year-old high school teacher who can’t see a smidgeon of light at the end of the tunnel. When I asked her how long she thought it would take to pay back her loans, she simply said, “I’m on the whole-life plan.” Lauren has been a hard worker all of her life. I would know; I grew up with the over-achiever. She was actively involved in everything in high school and managed to get a 31 ACT score, a 4.2 G.P.A. and a measly $2000 a year in scholarships. I guess it doesn’t always pay to do well in high school.

While she plans to “make more money some day" so she can pay in larger chunks on her student loans, Lauren’s whole life plan consists of continuing to pay the minimum because “they are very low interest compared to other things she owes on.”

On the bright side, Lauren’s large debt doesn’t prevent her from obtaining things that she wants. She has decided to deal with creditors rather than the government.

“Creditors do not seem to care as long as I keep my good credit by making payments consistently on everything I owe on. I was told by a realtor that I could get approved for a large home loan in spite of my large amount of student debt,” she explained sarcastically.

Lauren is still paying on the same amount of debt that she racked up during graduate school. She makes just enough money now to keep from adding to her debt, but is not eliminating it. With her future plans in mind, it only seems that the black hole gets deeper. Now she is thinking about going back to school to be a lawyer.

“Student loans suck. When you see the amount you pay at the end of the year and how much of it actually goes toward the principal (instead of the interest), it is so depressing. I know my education wasn't a waste of money, but I feel ripped off. If it is in the best interest of the country to have educated students (and of course, it is), the government should think of alternative funding to provide students for their education.”

* The photo was taken by the "famous" Linda Smith (my mom) at my sister’s graduation from THE Ohio State University.