“The only impossible journey is the one you never begin. “- Tony Robbins
As I navigated Higher Education as a First-Gen student in the 90’s I can truly say this experience was eye-opening and disappointing at best. It is amazing that I ended up here within the Higher Ed pillars as a career choice- but that is a story for another day. From my first semester, I did what students do try to assimilate and balance the new independence and learning outcomes of the degree requirements. Also financially, there were times when food insecurity was prevalent within my group of friends (other first-gen students) and we would pool our resources for our benefits. I took on additional jobs so that I can pay for the things I need. Also, I needed to take on an additional loan to partially cover tuition. Some personal and family challenges presented itself, coupled with my mothers job moving to Michigan after 25 years of stable employment, it turned out that I could not continue my academics at FU.
Ironically I went to the Financial Aid office and met with several counselors and then the Director who told me, as a Black girl from the South Bronx, I should be happy I have made it this far- and then go find a job. Are you serious? The blatant racism and systems of non support for this student of color back then made me think about how many other folks left without support.
When I moved out in May of 1995, I owed the school $6,000 so I could not get my transcripts to transfer to another school AND I had $6,625 of student loans that would become due. I did not know what to do and figured I would just go back to work. As I mentioned there were many people who were able to pour knowledge into me. I worked all summer and went to community college and made payments on the past due balance and because of a gift from my uncle Fred, I was able to get my transcripts to transfer to another school.
I transferred to Manhattan College in Riverdale, NY as my mothers home was being foreclosed on and we all had to find places to live. I moved on campus and because of her financial situation knew I had to cover college on my own. I completed all my financial aid paperwork as an Independent student which allowed me more loans. Reality Check: $7,500 in 2nd year loans. While I was in residence for 1 semester, I had Black Bitch written on my door and promptly moved out. I worked in the Financial Aid office for the remainder of my years using work-study and worked part-time at L & T and a Jamaican Bakery. I graduated from Manhattan College with a total of $35,000.
I started my employment at NYU in August 1999 and started the repayment on my loans then. I later went to grad school to receive my Masters in Higher Education Administration = More loan debt. Lots of things have happened over the years between 9/11, NYC blackouts and economic crises and still- paid them loans.
My total balance when I heard about Public Service Loan Forgiveness was $69,000 but with interest it had grown up to $99,000+.
Reality Check- Student loan debt is a reality for many college students. Understanding that with this debt, it greatly hinders the ‘American Dream” of buying houses, starting families and saving for retirement because this debt can often be a hinderance.
Then President Bush signed the College Cost Reduction and Access Act which established the Public Service Loan Forgiveness (PSLF) program. That program launched in 2007 under President Obama. PSLF helps people who work in qualifying public service jobs earn complete loan forgiveness after meeting several requirements which include 10 years of making payments on time calculated by the Dept. of Education based on an income based repayment plan.
I signed up for the program in 2009, being in financial aid working in higher education, navigating the program has been interesting (and I am a trained professional!).
It gets better (sarcastically)…