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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Stephen And Ayesha Curry Are Donating Thousands of Books To Schools For Christmas

Entertainment

Stephen And Ayesha Curry Are Donating Thousands of Books To Schools For Christmas

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Hark the herald! Stephen and Ayesha Claus Curry– are here to bring literary joy this season.

The Golden State Warrior and his wife are donating thousands of books to schools around Oakland, California this holiday season in an effort to bring joy to children.

The couple, behind Eat. Learn. Play. Foundation, made the announcement earlier this week.

“We along with our entire team at Eat. Learn. Play. understand the importance of early childhood education, especially when it comes to literacy,” Stephen and Ayesha told People magazine in a recent interview. “Nothing is more basic, more essential, more foundational, or more important to a child’s success in life than the ability to read well. We know there is a lot of work to be done, but with partners like Literati, we’re hopeful that we will be able to make an impact on these children’s lives.”

The Currys’ donations will arrive to schools in boxes that will contain six books.

The packages will include five children’s books and one for adults. All of which come from Stephen Curry’s “Underrated” book club selection.

Along with their thousand book giveaway, the couple’s Eat. Learn. Play. Foundation will donate boxes to students who are learning remotely amid the ongoing coronavirus pandemic in collaboration with and Literati. Fourteen thousand boxes will go directly to Oakland Unified Schools.

According to people, “The remainder of the donation, which was also made possible through Bay Area investor Aydin Senkut of Felicis Ventures, will be distributed through community partners in the new year.”

Speaking about their own experiences of teaching their children during the ongoing coronavirus pandemic, Stephen and Ayesha (who are parents to Canon W. Jack, 2, Ryan Carson, 5, and Riley, 8) told People that they’ve been hard work attempting to keep their children busy and learning.

“My oldest is pretty disciplined so that’s been easy, but our 5-year-old has a little trouble staying engaged for an extended period of time,” Ayesha, host of ABC’s new show “Family Food Fight,” explained.

Ayesha says she has found that taking part in “some kind of physical activity right before class starts” helps her daughter Ryan “to focus the mind and get some of the wiggles out, and periodic ‘dance breaks’ between lessons.”

“We also added resistance workout bands to the legs of her chair, which give her something to do if she gets antsy during a long Zoom session,” Stephen added.

“Luckily for me, Stephen has really stepped in with education and their schooling. And I’m okay with that because I birthed them so now [he] can birth and nurture their education,” Ayesha joked in a recent episode of “The Kelly Clarkson Show.”

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In A Post-Covid World, Here Is Where You All Said Want To Travel

Culture

In A Post-Covid World, Here Is Where You All Said Want To Travel

©Marco Bottigelli / Getty Images

Covid put a stop to our travel plans for 2020. After almost a year in lockdown, we have had time to plan fantasy trips and explore the world. We asked you where you wanted to visit and here are some of the places you all can’t wait to see.

Argentina

Argentina offers something for everyone. As on of the southernmost countries in the world, Argentina offers natural sights that will make nature lovers swoon. Into architecture? Cities like Mendoza offers a look at the art-deco style that will make you feel like you are back in time. Don’t forget to try to make a trip down to Ushuaia, the End of the World for a spectacular view.

Cuba

Cuba is a tricky one but a beautiful place to see. The country is filled with old buildings and cars that make it feel like a time capsule. Now, the island is old because they are oppressed and don’t have much. But you can always find ways to make sure that you help people of the island instead of giving the money to government approved businesses.

Costa Rica

This is about as wild and wondrous as it gets. Costa Rica will give everyone a chance to really be one with nature. The Central American country is a rainforest oasis with nature everywhere you look. The country prides itself on how development is not encroaching on nature and has even outlawed zoos and aquariums.

Honduras

Honduras is an underestimated place to visit. The food and people are warm and inviting. There has been some unrest in the country in recent years and a series of hurricanes has devastated the population. Tourism is a great way to bring money into a place the needs it. Just don’t take advantage of them while you are there.

Mexico

Mexico is a country filled with wonders new and old. You can experience the ruins of some of the oldest civilizations and bask in the modernity of Mexico City. The food is as diverse and vibrant as the people with delicious moles in Oaxaca and experimental fusions in Mexico City. Valle de Guadalupe is home to some farm to table restaurants and exquisite wineries. It truly is a journey of the sense if you take time to see the country.

Colombia

Colombia is one of South America’s gems. After years of internal conflict, the nation is growing and quickly becoming a destination. Bogotá and Medellín are great but make it a point to visit Cali. The city is one of the place everyone should visit if they make their way to Colombia.

READ: Mexico Announces 11 New Pueblos Mágicos And It’s The Post-COVID Travel Lust We All Need Right Now

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