The Peril of the Recent Gradaute
When I was growing up, it was just me and my mom, and we were barely scraping by. Even after she married my stepdad it felt like a struggle; they were both working low-wage jobs until I was 15.
Then, things changed. Mom became a receptionist at a dentist’s office, my stepdad became a township supervisor. A couple years later, Mom started to work for a chiropractor and my stepdad became a mailman. I was working at McDonald’s and actually had money.
For the first time in my life, I felt well off.
Then, I went to college. I worked two part time jobs through most of my college career, I stayed there over the summers. I didn’t really owe anything yet, my car was paid off, and everything felt fine. Until I graduated.
The months after I got my bachelor’s degree were a mess for me financially. My credit score went down the tubes, I had unpaid bills, college loans started to accrue interest. I went back to school to escape it all and dig myself out of the pit that I’d fallen into. This is one of the reasons that I started writing this blog; I know how hard it is to try and get by when you’re fresh out
Why am I telling you this? Because it seems to be a pattern that many recent graduates are suffering with in today’s economy. One of my dearest friends is 30 and still trying to get on her feet; she’s been out of school for several years now and hates the fact that she’s stuck living at home while most of her friends are out on their own. My best friend and her husband are working through their school debts; he’s working on his PhD, she’s had 3 teaching jobs in 3 years due to budget cuts at every school she’s worked at.
It’s not a pretty place to try and start a new life right now. Recent graduates are suffering because they can’t find jobs that pay more than minimum wage.
So, what can be done about it? I believe President Obama had the right idea when he signed into law some of the things that are helping current graduates; income-based repayment (IBR) for federal loans, being able to stay on parents’ health insurance until 26, and the ability to get on different types of deferment plans all contribute to helping college kids.
But, what else can be done? I’m not really sure. The economy just isn’t doing well. Everyone is struggling, and this mess with recent graduates isn’t helping matters at all. Not only are the graduates affected, if they choose (or, in worst cases, forced) to stay at home, their families probably are struggling as well.
As the economy starts the slow slog to recovery, I think that college students and graduates are a population that the government has to put more resources into. Many times, this age group has been overlooked because of their lack of involvement in politics. That is no longer the case. With the internet becoming a primary source of information, this population is becoming more active and more vocal. Maybe this new voice will help students not have to go through what I did during their transitions.
What do you think? Are college kids looking for a handout, or do they really need some support when trying to get started in life. Until next week, spend smart, save smart!
