Things That Matter

It Is So Hard To Pay Back Student Loan Debts In The US That American Borrows Are Fleeing To Live Abroad To Avoid Paying

Financial analysts have long predicted that the next bubble that will burst and lay damage on the economy of the United States (y por ende of the whole world) is the student debt bubble. Millions of college graduates owe so much money as a result of their graduate degrees that it will take a good amount of years before they can enjoy a clean slate, un nuevo inicio with no malditas deudas. As employment prospects grow dimmer in troubling financial times, these graduates just can’t get the jobs that will allow them to live comfortable, grow their wealth, and pay their student loans. It is a monetary bottleneck that has everyone scratching their heads. What to do? Condone debt and give people with university degrees a chance? That is sort of unfeasible, as the financial system is sustained through futures, bonds and the selling and buying of debt, so sometime, somewhere, there would be a huge hole in the system.

Some graduates are finding an alternative that is as legally tricky as it is ethically controversial: they are leaving the United States to avoid paying their debts. Some live in Europe, others look for alternative citizenships based on their heritage and some others just migrate to places like Australia, where Anglo migration (read, white migration!) is given a free pass even if their visa status is not crystal clear.

This option has sparked fiery debates on the Internet, as more and more news outlets report on members of an arguably lost generation who chose to leave rather than to live in debt. 

Vice published an article on Americans who now live almost debt-free in Europe. This happened all the way back in 2016, so this is not quite new.

Credit: @FeministGriote / Twitter

The phenomenon has been present for at least three years (could the election of POTUS be a factor, we guess?). Anyway, users such as Sister Outsider were not happy at all is that who the country is, she asked? 

Others thought that this was a very smart move because student loan debt interest rates are nearly impossible to overcome.

Credit: @Hippington / Twitter

This dude James Hipp seems to take it a bit more lightly. Well, anything goes eh?

The article sparked some seriously opposing views, despite the growing fear that millions of students will remain in debt indefinitely.

Credit: @that1laura / @Mchacon49r / Twitter

These two couldn’t possibly be farther apart in their views. One calls these “Debt Dodgers” as the VICE article called them, “selfish, entitled, and arrogant”. Meanwhile, a user who is actually wearing graduation regalia simply says that she doesn’t blame them. Perhaps she is facing similar fears and uncertainty in terms of her future in the workplace. Because let’s be honest: things are pretty grim the world over. Not to mention that there have been recent articles about people entering retirement with student loan debt left to pay.

Some people just don’t understand how someone could run from their student loans.

Credit: @xavifred / Twitter

Did Xavi dude just calls them “deadbeats”, huevonesperezosos. But sometimes these are people who actually want to work, but find little or no prospects at home and look for a better horizon. Isn’t that what the immigrant spirit is made up from?

Just last year a CNBC article set fire to Twitter over the same issue.

Credit: @airfarceone / Twitter

This user, who we assume is a conservative Internet keyboard warrior, equates debt dodgers with the young men who dodged the draft during the Vietnam War. Is this a fair comparison? Yes, they decided to get an education, but this is the core of the controversy: should education be a right or a privilege?

Should some people just not go to college? @AlephBlog seems to think so.

Credit: @AlephBlog / Twitter

The CNBN article told the story of a graduate in debt who now lives in India, caring for elephants. User David Merkel simply says that these people should not go to college at all. Is he right? His savage judgment evidences a worldview in black and white. Obviously, people don’t want to leave.

No one asked them to go to university? Well, things are a bit more complicated than that, @TeresaGillia.

Credit: @TeresaGillia / Twitter

The contemporary social and financial status quo demands that young people acquire skills in information management and professional work. Manual work in the United States is generally underpaid, so if folk want to get ahead in life a university education seems to be the only way. So the choice is limited: yes, young people can choose not to go to university, but in doing so are risking not advancing in life, in monetary terms. But what happens when people get a degree, work hard and still see no descanso in sight?

User Jim Robinson has a point: the banks and other financial institutions are also to blame.

Credit: @ThatJimR / Twitter

Just as the 2008 Global Financial Crisis revealed (you can see it explained with peras y manzanas in the movie The Big Short), the addiction to debt and the trigger happy nature of the banking system has generated a lot of immediate wealth that ultimately leads to financial ruin. Banks have chosen to loan so much money knowing that students won’t be able to pay it back, that their bad decisions have come to bite everyone en el culo. Jim Robinson is right: some loans are indiscriminate. These financial practices border criminality de cuello blanco

Student debt has been on everyone’s mind this past month, ever since this billionaire wiped off the debt of an entire graduating class.

Credit: @ijsvv / Twitter

It might seem to be the feel-good story of the month, but the fact that Robert F. Smith made this magnificent donation and gave a whole class of students an Oprah-like moment is more like the symptom of a broken system, rather than a sign of pure goodwill. He must have looked at all those young people, mostly Black, and knew that they would face a lot of hardship unless he interfered, that the joy of graduation would soon turn into the darkness of precarious financial prospects.

Let’s get some context on the current political climate: this tweet sort of sums up what many are facing.

Credit: @rideatdawn/ Twiter

At the other end of the political spectrum, we find another millionaire, Betsy DeVos, the US Secretary of Education, who is actually cutting the budget for debt forgiveness. This tweet captures the feeling that many are having at the moment: any life-changing step (such as having kids or buying a house) is stalled due to the lack of support that the government is able or willing to give to those taking their first steps into adult life. What is the solution?

 The “Debt dodger” controversy got new traction a few days ago.

Credit: @lany891 / Twitter

New reports point to a spike to this trend, and the conversation has gained momentum given the prominence that the student debt crisis has had leading to the presidential election next year. This user references the plan drawn by Dem presidential hopeful Elizabeth Warren, who proposes to wipe out student debt by taxing the wealthy. According to a Politico/Morning Consult poll, 56% of registered voters support the Massachusetts senator’s proposal. It is hard to judge either side, but something’s gotta give and the student debt crisis will either puncture or strengthen the idea of the American Dream (our take, solidarity is always best).

READ: The SATs Have A Problematic And Racist History Fueled By The Creator Of The Test Who Praised Eugenics And Racial Separation

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Indigenous Purépecha Woman Gets Full Ride Scholarship To Attend Harvard

Things That Matter

Indigenous Purépecha Woman Gets Full Ride Scholarship To Attend Harvard

In just a few months, college freshmen will be descending on their campuses across the country. One of these students is Elizabeth Esteban who is the first person from her indigenous tribe in Mexico to be accepted to an Ivy League school.

Elizabeth Esteban is going to Harvard and it is a major deal.

Esteban is a member of the Purépecha tribe, an indigenous community from Michoacán, Mexico. Esteban is the first member of her tribe to be accepted into an Ivy League university, where indigenous representation remains small. Esteban’s parents work as farm laborers in the eastern Coachella Valley in California.

“Well I felt proud and excited, every sort of emotion because I never would have believed that a person like me, would be accepted to a prestigious university,” Esteban told NBC News.

Not only was Esteban accepted into Harvard, a prestigious university, she also received a full-ride scholarship. Esteban’s family is part of a community of hundreds of Purépecha people who relocated to the easter Coachella Valley in search of work and a better life.

Esteban plans to study political science.

Dr. Ruiz Speaks with State of the Union Guest, Elizabeth from Desert Mirage High School.

Join me for a live conversation with my guest for tonight's State of the Union, Elizabeth from Desert Mirage High School!

Posted by Congressman Raul Ruiz, MD on Tuesday, February 4, 2020

Esteban wants to make a difference in her community. As an indigenous woman, Esteban wants to break barriers that are set on women in her community. She told NBC News that her community expects for women to stay home and be stay-at-home mothers.

The incoming Harvard freshmen was discouraged from applying to Harvard at one point because of her community’s unreliable internet connection. Esteban lives in a mobile home with her family in Mecca and struggled to complete course work. The internet went down in the middle of her Harvard interview and it almost prevented her from applying to the university.

“Well, I felt proud and excited, every sort of emotion because I never would have believed that a person like me, would be accepted to a prestigious university,” Esteban told NBC News about being accepted to Harvard on a full scholarship.

READ: California, Harvard, MIT File Lawsuits To Challenge Government’s International Student Visa Announcement

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Americans Are So Fed Up With The Pandemic They’re Willing To Give Up Sex To Travel

Things That Matter

Americans Are So Fed Up With The Pandemic They’re Willing To Give Up Sex To Travel

What do you miss most about pre-COVID life? Is it eating out at restaurants? Going to the club to perrear? Or is it traveling? For many Americans, it seems like the number one answer would be traveling. In fact, a huge number of Americans miss traveling so much that they would be willing to give up sex just to be able to go on a trip right now. 

So just how many people are willing to give up sex for a trip right now?

According to an informal survey conducted by travel site Trivago, a whopping 38% of Americans say they’d give up sex for an entire year to go on a trip right now. And that’s a poll of 2,000 people! 

“After a year that changed everything, it’s clear that modern travel has been profoundly altered, perhaps forever. As the vaccine rollout continues and restrictions begin to lift in parts of the globe, eager travelers everywhere wait patiently for the clear signal to be able to get away and adventure once again,” Trivago shared in a statement alongside its survey results. “The results reveal significant desires to travel, including what consumers would give up, what they’d like to do and where they’d like to go, as well as why they’d like to get back on the road.”

But it wasn’t just sex…Americans are willing to give up a lot that they care about for a trip.

Beyond finding out that more than one-third of Americans would give up sex for a year, Trivago also found that one in five people would give up their partner to travel now, and one in four said they’d give up all their savings. Additionally, nearly 50% of respondents in the U.S. said they’d happily give up their job to hit the road again.

Why are people so willing to give it all up for a few vacations?

“More than 80% of those surveyed somewhat or strongly agree that travel is a part of a well-rounded life,” Trivago added. “The concept of travel as a form of self-care/wellness and to expand one’s perspective is one that continues to grow.”

It noted, in both the U.S. and the UK, a substantial majority of respondents said that being prevented from traveling freely is one of the worst aspects of the pandemic and that because of the pandemic this is the most they’ve ever felt like traveling.

But hopefully we won’t have to wait too much longer. Although international travel is still largely discouraged by governments around the world, some level of travel is starting to return to normal. But until we have the COVID-19 pandemic under control, it’s important we do our part to keep everyone safe. Things like staycations, domestic trips, and even taking a virtual vacation. While it may not be entirely the same thing, at least you won’t have to give up all the good parts of life to get it.

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