Marketplace

The episode of Marketplace Money in which I make an appearance aired yesterday. Of the 15-20 minutes we spoke on the phone, only about 5 minutes of it made the air. If you want to listen, click here and fast forward to about the 16 minute mark (requires iTunes) or click here to read the article and listen in your browser. My segment is called “The Perils of Private Student Debt”.

I hope a lot of parents are listening in this week!

Weekly Student Loan Recap

Just a quick update about what’s happened in the past week… I met with the banker last Thursday, and though we spent nearly two hours discussing what limited options I have and pouring over numbers, it appeared to him that there’s little I can do. I did learn a few helpful strategies for paying off my loans more quickly. I’ll post those here soon. Not the outcome I was hoping for, but it was positive nonetheless.

The next day, I did an interview with Tess Vigeland and Liz Watson on MarketPlace Money. It began quite awkwardly, since I ended up having to do the interview in front of all my coworkers, so I stumbled through the first part. Their confidence that they could help was high in the beginning and very low by the end of our 10+ minute conversation. With each detail they learned about the situation, the more grim the outlook became. I really hope parents of college-bound students listen to the show, so they can hear what not to do. I knew the interview was going downhill after the third time Tess said, “Oh brother” or “Oh boy”. But I’m glad to get the message out about student loans.

Since then, I’ve also written letters to Senators Tom Coburn and Jim Inhofe, Representative John Sullivan, and the Consumer Financial Protection Bureau asking for their assistance, and a very wise colleague suggested I write to the Oklahoma Attorney General and Oklahoma State Banking Department. I’ll be doing that this weekend.

Tonight, I learned some very good news about the Consumer Financial Protection Bureau (CFPB), the federal department created by Elizabeth Warren and President Obama. The CFPB is currently in the process of creating its own Ombudsman program for private student loans, which will act as a counterpart to the Department of Education’s Ombudsman program for federal loans. Both will essentially look at your particular case and negotiate a deal with lenders on your behalf, possibly avoiding situations like the one I’m in now. While that won’t help me now, it will definitely help in the future, and I’m sure it will help thousands upon thousands of student borrowers across the country.

Positive Snowball Effect

To add on the good news from the past week and a half, I received a letter yesterday from one of my lenders, Discover Student Loans, congratulating me on my graduation. That’s nice, if late, but the really nice gesture is that they offer a graduation reward in the form of a 2% reduction in my principal balance.

They even gave me the option of depositing it into my checking account or applying it directly to the loan balance. I applied it to the balance. The loan is pretty substantial, too, which means the benefit to me is pretty big: $440! Excellent news, indeed. So, thanks to Discover! (I guess it really does pay to Discover.) Wells Fargo should take a page from Discover’s playbook.

Today, I spoke with a producer from Marketplace Money and told her my student loan story. She wasn’t sure if they could help, especially since I’d already spoken to an attorney who couldn’t offer any advice, but checked with a resident expert, and it turns out they might be able to help. We set up an interview for this Friday and hopefully, they’ll be able to shed some light on what my options are. I’ve got my fingers crossed!

I’m really liking this positive momentum, and I hope it continues! It’s a welcome change.

Radio Help

I got a response from the folks at Marketplace Money about my student loan story. They’ve invited me to chat on the phone with them this afternoon, so hopefully I get some good answers to my student loan situation. I’ll be sure to post the results of that conversation. Let’s get this thing resolved.

Upward Momentum

This week has been one of surprising, upward momentum that I hope is an indication that I’m turning a new page in my life. First, I have to thank all of my amazing friends and family members that responded to my last post about my student loan situation. With everyone’s help in spreading the word, there have been some promising developments. That’s not to say the entire situation is resolved, but it’s getting better.

A very good friend’s mom let me know about a new federal student loan consolidation program that’s only available from January to June of this year. I doubted my eligibility since I had (unsuccessfully) tried to consolidate my federal loans before, but filled out the application anyway. It’s a lengthy application, but it turns out I’m actually eligible for it! I’ve sent in my paperwork and now I’m just waiting to hear whether it’s approved. If approved, I’ll be able to consolidate six of my loans from three different lenders into one, lower, monthly payment. It’s estimated to save me about $100 a month. It can’t help with my private student loans, but it’s a huge step in the right direction. If you think you might not be eligible for this program, think again. Apply and see what happens; you might just be as surprised as I was!

As if that wasn’t exciting enough, through another friend, I was able to connect with an executive at RCB Bank, a locally-owned bank with branches in the Tulsa area. I told him my story, and as a result, he wants to meet with me. I’m hoping something very positive will come of that meeting; it seems like this guy is a kind of miracle worker.

Speaking of miracle workers, I’ve also contact a few personal heroes of mine in hopes they can help: Elizabeth Warren, a consumer financial protection guru and candidate for Senate in Massachusetts who hails from Oklahoma; and Tess Vigeland, host of Marketplace Money on American Public Media. I encourage everyone to watch this video of a lecture Elizabeth Warren gave at UC Berkley a few years ago. She’s incredibly insightful and has been fighting for consumer financial protections for years. She successfully fought for the creation of a new government office to oversee such matters, and has played an important role in many other matters of consumer protection. I hope she and Tess will both know exactly what to do.

In addition, I received my federal tax return and was able to pay off my two store cards to Banana Republic and Gap. Collectively, those debts were only slightly more than $400, but it would’ve taken over three years to pay them off making the minimum payment. I always made more than the minimum payment, but that doesn’t stop interest from accruing. Now, I have two fewer bills to worry about each month and can use that money for food or put it toward my student loans.

Finally, and most exciting of all, I accepted a new position at a recycling company in Tulsa! I’ll be moving back to Tulsa in a few weeks’ time. It’ll be great to be back in the city I love, though I have to admit, I’ll miss a lot of people in Stillwater.

So there you have it. Hopefully, this upward trajectory will not only continue but accelerate. I’m ready for it.

Students, Beware: A Cautionary Tale of Student Debt

Enter At Your Own Risk by Daniel Jeffries

Getting an education is required for success in today’s world. Many people grudgingly attend college merely because studies prove that people with bachelor’s degrees earn around a million dollars more in their lifetimes than people who just have a high school diploma. This diploma race has escalated even further; now, a bachelor’s degree is the equivalent of a high school diploma in the business world, and master’s degrees are the new standard. We’ll probably see more and more people racing to get those in the coming years. “What’s your point?” you ask? Education is important. No, it’s vital to a person’s livelihood. It’s what can break the vicious cycle of generational poverty. It enlightens us as a society, allowing us to understand cross-cultural differences and come to common understandings. It can make the difference between war and peace, of life and death, of prosperity and poverty, of acceptance and bigotry, of love and hatred.

It can also be one of the most expensive ventures a person will ever undertake. I should know; in my five years of undergraduate studies, I racked up about $108,000 in student loan debt. Yes, that’s 108 with three zeros. Now that I’m out of college, I’m in the middle of a battle for my livelihood. I’m not alone, either. In 2010, student loan debt in the U.S. surpassed the amount of credit card debt. The total? Around $830 billion. In 2011, the number was estimated at $1 trillion. To make a long story short (click here for the long story), I owe a lot of money to student loan companies. I’m in good standing with six of them, which accounts for half my student debt. One loan had an extra long grace period and came due suddenly last January. It also happened to be the largest of all my student loans: $50,000. The loan had been sold from Campus Door to Wells Fargo, and my first knowledge of this was when I received the first collection call. Unbeknownst to me, the grace period had ended and this new company was demanding its money.

My monthly payments for all my other student loans totaled a little more than $700 a month. Pretty steep already, especially when you make $1800 a month, and the majority of them are private loans. I was making the payments and just scraping by. Eating off the dollar menu for weeks on end. Scraping together quarters, dimes and nickels to by a dollar cheeseburger from McDonald’s. Riding my bike 30 miles for a haircut from my friend’s grandmother because I couldn’t afford gasoline or a haircut. It was tough, and honestly, quite depressing. But I was doing it. Then, this bombshell from Wells Fargo.

My monthly payment for this new loan that had come due was $395, bringing my monthly student loan payments to over $1100. Already facing the daunting task of paying the others, this was simply something I couldn’t do. I didn’t make enough money to pay my existing student loan bills, rent and utilities, let alone groceries, gasoline or anything else. This extra $395 for Wells Fargo couldn’t even be part of that equation. When all was said and done, for at least two weeks of each month, I literally had nothing in the bank. Nothing. I actually began each month with a $300-400 deficit, making it only that much harder with each passing month.

When I spoke with representatives from Wells Fargo on the phone, none showed any interest in working out a payment plan to cover the back payments I owed. They wanted their money right then, no questions asked. In fact, one Wells Fargo representative even had the audacity to suggest that I stop paying all my other creditors and just pay Wells Fargo. That’s not a solution. It would be incredibly dumb on anyone’s part to do such a thing. I tried to arrange a meeting with a credit counseling service and couldn’t even do that because of the nature of student loan debt: there are no protections for students and lenders of student loans refuse to work with any credit counseling agency. It was quite clear at that point that I needed to find a better-paying job.

So I did a very tough thing: with a heavy heart, I left a job that I absolutely loved for one that paid more. But I didn’t just leave a job, I left my city. I flipped my entire life upside down and moved across the state to take a job in a place I didn’t know, and the only reason I did it was due to Wells Fargo demanding payment. Before I quit my beloved job in Tulsa, though, I had already begun making even more painful cuts at home in order to pay Wells Fargo. I began making monthly payments, in full, to Wells Fargo, even before I was able to get this new job. And I continued making regular, monthly payments, on time and in full. That wasn’t enough, though. They wanted me to make double payments to catch up. Double. I’m struggling to make regular payments, and they want double. Because it’s so easy to do that. I couldn’t, not even on my new salary. $1100 a month is more than a lot of people’s mortgages. $1500 a month is astronomical and practically impossible.

After Thanksgiving, I received notice that Wells Fargo declared the loan in default. They wanted all $50,000-something right then. A few days before the end of the year, I received another letter from them, this time, wanting to settle for only $25,000 (roughly). If I could pay them $25,000 within 30 days, they’d call it good and move on. Well, if I had $25,000 lying around, I wouldn’t have been behind on the loan, now would I? After much research and consulting with an attorney, I’ve verified one thing: there are no protections for student borrowers. None. Zilch. Nada. The student loan companies have all the power and the student borrowers have none. There’s nothing a bankruptcy can do, not even a Chapter 13 bankruptcy, which would simply result in a court-prescribed repayment plan based on one’s income. You can’t touch a student loan company, period.

Let me be clear: I don’t want to pay less than I borrowed. I don’t expect the loans to simply disappear. I’m not an Occupy protester that wants my student loan debt wiped away. I want to pay for what I borrowed And I need to pay it. But I need to be able to live, to eat, to pay rent, buy gasoline or get my hair cut. And I need Wells Fargo, one of the largest banks in the world, to show a little decency and work with me. I can’t make a quadruple payment, and I can’t give them $25,000 within thirty days. What I can do is make regular payments. And they’ve refused to make any sort of arrangements that would allow me to catch up.

If I’m ever financially secure enough, I’d love to establish a center for the protection of student borrowers. I want laws to be rewritten. I want student loan companies to actually work with their borrowers instead of bullying them. Every other type of debt–every one of them–except for student debt, have built-in protections of some sort for borrowers. Why is it that in a country falling so far behind the rest of the world educationally, the government wouldn’t provide basic protections for student borrowers? We need a highly educated workforce. We need a highly educated society. We push our young people into college and throw them to the sharks without so much as a life jacket. What kind of message is that to send to our youth, to our future leaders?

Students, beware: there is no protection for you.

If there’s a way out of this mess, I haven’t found it. If you or anyone you know has experienced something similar to this, or if you know anyone college-bound, or an expert in student loan law, please, I’m begging you, forward this post to them. There’s got to be a solution. There must be. I’m hoping Elizabeth Warren, champion of consumer protections, will read this and automatically know what to do. I know I’m not alone. There are thousands of student borrowers in my same situation. We just need some help. Even lawyers are baffled. I could fight to change the laws, according to one attorney, but he wouldn’t recommend that fight. According to a colleague he consulted, people in my situation are “shit out of luck” and caught in a terribly terrifying version of Catch-22. What a great place to be.

One of these is not like the other

Prague Kolache Festival, originally uploaded by dsjeffries.

What does ‘diversity’ mean? To many people, ‘diversity’ means just one thing: the color of your skin. That’s why I’ve selected this photo from the 2011 Kolache Festival in Prague, Oklahoma. On the surface, it would appear that this is a pretty homogenous crowd, typical of small-town Oklahoma: nearly 100% white, lots of “traditional” families, and lots of OU and OSU apparel.

Look beyond skin color and you’ll see a much more complex picture. Women, cowboys, hipsters, young professionals, gay men and women, Jewish people, Christians, atheists, high school dropouts, college graduates, poor, rich, tall, short, skinny, fat, muscular, lean, Czechs, Creeks, Seminoles, Anglos, Democrats, Republicans, Independents, potheads, Sunday school teachers… I could go on, but I think you get the idea.

Diversity is much more than some people would have you believe. It’s all the things I listed above; it’s diversity of opinions, religions (or lack thereof), ethnic backgrounds, languages, sexual orientations, levels of education, income levels, etc.

The next time you think you’re being inclusive and a proponent of diversity, ask yourself if you’re only thinking of race. Does your definition of ‘minority’ rest solely on skin color? Challenge your preconceived notions of diversity.

On some level, all people categorize the world around them. It’s part of human nature in that it makes it easier for us to define what we know, who we are, and store what we’ve learned.

The next time you’re planning to do anything relating to diversity, make sure you consider more than just skin color.

Little Boxes

Mayo Village Apartments, TU, originally uploaded by dsjeffries.

It’s a shame that this is what most of America looks like today. Endless parking lots, suburban apartments that stretch from one parking lot to another, all protected behind a gate as though that makes the neighborhood nice, all bound by swirling vortices of culs-de-sac filled with tract homes, “old-fashioned” acorn lights adorned with metal halide bulbs, and expressway entrance ramps.

It’s saddening and maddening, and brings to mind a song by Malvina Reynolds called Little Boxes. Here’s to the American Dream!

Little Boxes

Little boxes on the hillside,
Little boxes made of ticky tacky,
Little boxes on the hillside,
Little boxes all the same.
There’s a green one and a pink one
And a blue one and a yellow one,
And they’re all made out of ticky tacky
And they all look just the same.

And the people in the houses
All went to the university,
Where they were put in boxes
And they came out all the same,
And there’s doctors and lawyers,
And business executives,
And they’re all made out of ticky tacky
And they all look just the same.

And they all play on the golf course
And drink their martinis dry,
And they all have pretty children
And the children go to school,
And the children go to summer camp
And then to the university,
Where they are put in boxes
And they come out all the same.

And the boys go into business
And marry and raise a family
In boxes made of ticky tacky
And they all look just the same.
There’s a green one and a pink one
And a blue one and a yellow one,
And they’re all made out of ticky tacky
And they all look just the same.

Still Waters Don’t Run

New Orleans Traffic, originally uploaded by dsjeffries.

Adjusting to a new job in a new city has been everything I expected it to be: a learning process. It’s been a little over a month since I’ve moved away from my fair city, and familiarizing myself with my new home has meant first learning the names of major streets, then learning by trial and error the streets and intersections to avoid. Unfortunately in Stillwater, that basically means avoiding any road with drivers on it.

I know each city has its own bizarre traffic quirks, and I was prepared for that. Having driven in Chicago, Dallas, Denver, St. Louis, Kansas City and New Orleans, and having lived in New York City, I know how to get around in large cities. I grew up in a very small town (population 4,910 when I lived there) and have lived in larger cities as well, and have traveled across France, Germany and Italy by road, train, subway and boat, so I know how traffic works in towns and cities of all sizes, across the world. At least, how it is supposed to work. In Stillwater, nothing about driving works the way it should.

Let’s get some perspective: Stillwater is a small city whose population is roughly 45,000 when all 21,000 students at Oklahoma State University, the town’s lifeline, are on campus. When school is out of session, there are about 24,000 people. The town is very suburban in nature, sprawling across 28 square miles, and is laid out in a fairly standard grid system, with major thoroughfares forming one-square-mile cross-sections. Traffic should be a breeze, right? Wrong.

Instead of using a combination of timed lights and sensors, the traffic lights are merely timed. The timing, however, is erratic and unsynchronized. Synchronizing the lights would mean as long as you are going under or at the speed limit, you should continue to pass through intersections with no red lights, except for intersections with left-turn signals. If Stillwater is going to continue to rely only on timed lights, they need to be synchronized. In addition to being out of sync, the duration of the lights is erratic. Pass through the light five times, and you can get a green light that lasts about 30 seconds, one that lasts 2 minutes, another for 5 seconds (literally), and so on.

I’ve sat through red lights that lasted well over a minute and half, only to get a green light that lasts for 5 seconds. If you’re not one of the first three cars waiting to go through the intersection, you won’t be able to go.

Another thing that will put the brakes on your intra-city travel is the drivers in Stillwater. Most universal driving practices do not apply in Stillwater. It is very wise to assume drivers absolutely will not turn right at a red light. In fact, on my way to work this morning, I was sixth in line waiting at a red light. When the light turned green, all five of the cars ahead of me turned right. All of them. This has happened to me well over two dozen times, and I’ve only been here a month.

It’s also a good assumption that people will not use their turn signals (or will wait until they’re mid-turn), that their brake lights don’t work, or that the car ahead of you with their turn signal on for the last five minutes isn’t going to turn anytime soon. Many people also don’t know how right-of-way works, especially at simple four-way stops.

Add all of this together and you’ve got congestion fit for a large, densely populated city. This photo I took of traffic on I-10 through New Orleans may be a bit of an exaggeration of Stillwater’s traffic, but not by much. I’m sure if there were six-lane roads, they’d be just as backed up.

Students are already beginning to return to Stillwater for the fall semester, and traffic has only gotten worse. I know it will continue to deteriorate until the first day of classes, and I can’t even imagine how bad traffic will be during home football games, when 60,000 people descend on Stillwater.

In a city of this size, there shouldn’t be any kind of traffic issue. There’s an old adage that says still waters run deep, but in this case, still waters don’t run, they crawl.

Knowledge is power. Or is it?

Cherry Street Homes, originally uploaded by dsjeffries.

I could own one of these homes right now. I could have an adorable bungalow with a big front porch, porch swing and perfectly-mowed lawn. I could even add a picket fence, gardens, shutters and grand oaks.

I could have all that. But that’s not what I want. That was never my dream.

Instead of pursuing this, the penultimate American Dream we’re all taught to want, I chose to educate myself, and that might have been a terrible decision. Homes and land typically gain in value, build equity and become a part of one’s net worth, once they’re paid for. It’s something each post-World War II generation has aspired to. It’s an investment, a wealth-builder, and a statement to all that you’ve made it in the world.

Education is viewed as a pathway to wealth, but not necessary a wealth-builder in and of itself. It provides a foundation of knowledge, and is somewhat of a starting line. To obtain X, Y or Z, a degree is required. We’re all told that knowledge is power. But there’s a catch: it comes with a price. In fact, it can often come with a heftier price tag than most people’s first homes, especially if one chooses to attend a private university.

For a very long time, the United States has lagged behind almost every other industrialized nation in terms of educational achievement. Several factors are to blame, including plentiful manufacturing jobs that required little education, a culture that views education as an elitist, snobbish, out-of-touch endeavor, and a system that refuses to aid students and their families.

Countries like Denmark, Sweden, Norway and Germany offer free education for all residents (they even offer it to foreigners). Anyone can study at university if they want, regardless of their societal status or ability to pay. Students and professors are held to higher academic standards. Since they don’t have to work full- or part-time jobs while in school, students dedicate themselves to their studies, and many end up earning several degrees.

In the United States, there is no free education. Whereas people in those Scandinavian countries are encouraged to obtain multiple degrees to compete in the global workforce, in the United States, you’re lucky if you can obtain and pay for just one. Here, students compete for academic or performance-based scholarships, and then must figure out, mostly on their own, how to pay for the remaining balance. Unless their family is wealthy or they have a college savings fund, their only recourse is student loans.

Student loans come in just a couple forms. There are federal student loans, in which the student borrows money from the government, and private loans, in which students borrow from corporate banks and creditors. The former can be either subsidized or non-subsidized and generally offer low interest rates, but they are limited to families who fall within certain income levels. The latter is a cash cow for lenders who have only one interest: profits.

Because there is no free, universal education system in the United States, students graduate with exorbitant debts. According to the U.S. Department of Education, one quarter of students borrowed $30,526 or more in 2007-08, and one tenth borrowed $44,668 or more. Repayment on that debt begins within 6 months upon graduation, so it’s important that students find a high-paying job immediately upon commencement. If they can’t find a job, or find a job but not one that pays well, default becomes a real possibility. Who’s there to help when someone gets behind on payments, or doesn’t make enough money to pay in full each month (which is a certainty for those who work in non-profits)? Surely, there must be an organization that helps students figure out the best options, find a way forward when they get into trouble…

The sobering reality is that there is no support system for university graduates with student loan debts. Trust me, I’ve looked. There are many organizations out there to help consumers with bad credit card debts or who fall behind on their mortgages, but not on student loans. So, after investing four or five years of your life in improving your skills and gaining valuable knowledge, you’re left to fend for yourself against the tyrannical corporate hooligans that you’ll have to deal with for up to 20 years after graduation.

My Story
I graduated from the University of Tulsa with a Bachelor of Science in Business Administration, emphasis in Marketing. When I began as a freshman, I had won several scholarships, including the University’s Provost Scholarship, the Mabel Hildreth Crook Scholarship, an academic scholarship, a music scholarship, the Sam Walton Scholarship and the Oklahoma Heritage Association Scholarship. These scholarships covered a majority of the costs of tuition.

I lived at home and commuted each day, participating in marching band, Habitat for Humanity, the Student Senate, symphonic winds, basketball band and other organizations. After completing my sophomore year, I transfered to Marymount Manhattan College in New York City. When I discovered what a terrible school that was, I transfered back to the University of Tulsa before completing one semester at MMC. Upon returning, I was informed that I could not receive any of my previous scholarships or financial aid. I was determined to become the first person in my family to graduate with a college degree, so I began taking out private loans to cover the cost of school.

With the economic downturn of 2008, it became nearly impossible to get student loans. After several instances where my finishing school was in serious jeopardy, I was able to secure just enough funding and graduated in December, 2009. I was fortunate enough to secure a job before graduation at an environmental non-profit doing all aspects of marketing, advertising, communications, event planning, and graphic and web design.

I had done it. It was a dream come true.

By the numbers
Number of student loans? 13. Total student loan debt? $100,000. Most of the loans entered repayment after six months. One or two entered repayment at nine months. The final, and by far the largest, entered repayment at twelve months. That’s the one that broke my back. My monthly payments are now over $1100 a month. To put that into perspective, that’s more than my parents’ house payment. I bring in a mere $1780 per month after taxes and insurance, which means that 63% of my income goes straight to student loan payments. Add in rent ($495), utilities ($65), other installment payments ($40) and transportation ($50) and that leaves $27 per month to buy food, toiletries or other necessities. It’s an impossible financial situation. Of course I can’t eat on $27 per month. At my current income level, my basic, essential living expenses outweigh my income by around $300 a month. It’s not even living paycheck-to-paycheck. I can’t live this way. It’s not good for my emotional or physical well-being. And I know that I’m not the only person in this situation. I don’t want a handout. I don’t want my debt to be forgiven. I just want guidance, a way out, a compromise that will let me pay what I can and still be able to eat…

Why do it?
I live a modest but meaningful life. I don’t buy extravagant things (I don’t even buy “regular” things), I don’t take vacations, I don’t go out to bars or clubs… I volunteer, and work to improve the community and environment, I perform professional services as favors for friends, and try to ‘pay it forward’. What exactly has it gotten me? Good karma? Respect? A sense of self? A strong work ethic? Probably. But those things don’t pay the bills, and creditors simply do not care how much good you’ve done in the world.

My heart is in non-profits. It’s in helping people. The only problem with non-profits is that there’s no profit to be had. I’m proof of that. I’ve been told by someone that I shouldn’t be so “obsessed with money”. I’m not obsessed with making a million dollars, or having the biggest house or nicest car. I am only obsessed with money to the extent that I want to be able to pay my bills and buy food without inducing ulcers; to live without the pain and fear created by not even having enough money to pay for basic necessities. Anyone who considers that “obsessed” should take a long, hard look at themselves and their priorities. It is more painful than you can imagine. It is more emotionally disturbing than you can imagine. It is more heartbreaking than you can fathom. There’s a reason that financial problems are one of the main causes of depression, divorce and suicide: there is no safety net for those most at risk.

Where do I go from here?
When figuring out how you’re going to eat the next day is always top-of-mind, it’s hard to even begin picturing a way out. Your mind is focused on one thing. So how do I get myself out of this terrible situation? Should I look for a new job that pays more? Should I take on a second job at nights and weekends? Should I sell my belongings to make due in the short term? If I look for another job, should I look in another city, or another country? I don’t have any answers, just ulcers and a sleep problem. It’s not as easy as most people think. We’re living through a period of economic distress not seen by any generation since the Great Depression. Jobs are scarce, the deck is stacked, and banks are still the heartless, soulless machines they’ve always been.

Maybe I should’ve chosen to pursue the American Dream instead of trying to improve myself and the the world around me. So much for the old “knowledge is power” adage. “Scientia omnia vincit?” Not hardly. Not in America. The Scandinavian countries I mentioned earlier have it figured out: highly-educated people are valuable, and education should be something everyone has access to; not something they have to kill themselves working for.

Anyone out there with a panacea?