To the Editor:
High school seniors should have applied for their financial packages within the last several months, and colleges push the loans, along with grants, scholarships, and job offers.
They and their parents need to understand what they are getting themselves into when they have to start paying the money back in the July after they leave college with or without a degree or good-paying job.
I personally know a young lady who was dropped in January by a university after seven semesters because her gradepoint was 0.3 point below the required gradepoint for her field, and she had to get a job. She cannot return to finish for one year, but she has to start paying on her college loans of $20,000, July 1, 2015.
These young people have made a life commitment to paying it back, which impinges on their ability to buy a car, rent an apartment, get married, have children, or buy a home. Their credit is $30,000 in the hole on average—a good year’s salary.
Our economy is hurting because many of our young people are not in a position to begin their lives. The costs of college in today’s dollars are 10 times what they were in our day. That is why I am working so hard to get students and/or their parents to hear Beth Hickman speak Monday, April 27, at 6 p.m. at the Clinton Community Center Club Room, 101 South Hicks Street, Clinton. The Anderson County Democratic Women’s Club is offering free pizza and soft drinks.
I also know a young local professional who has loans and was amazed when told how serious the problem really is.