1. Sex Work to Pay Off College Loans? How the College Debt Racket Sucks Young People Dry -- And Led Many to Occupy Wall St. →

    cognitivedissonance:

    The young man standing next to the “Jail Sallie Mae, Cancel All Student Loan Debt” sign in Liberty Plaza last night could very well end up in jail himself – not for protesting economic injustice and marching on Wall Street, but for doing sex work to pay off his student loans. “My loans are $1,300 a month,” he said. “My rent is $1,300 a month. My salary is $2,600 a month. You can see the problem. So I work as a prostitute for food and utilities.”

    Though he works a day job in the tech sector, it’s not enough to get by. “But it could be worse,” he continued. “I could have to do sex work for all of it.” 

    With the Department of Education estimating that outstanding US student loan debt will soon exceed $1 trillion and job growth stalled, students face the very real prospect that there’s no way to ever pay back their debts. As of this May, new graduates are leaving college with an average of $22,900 in debt each, which, according to the Wall Street Journal, makes the class of 2011 the most indebted in history. 

    I don’t even want to think about my student loans and what will have to happen for it all to get paid off. It’s because I don’t know how it’s all going to shake out. I fear that getting a law degree won’t be enough.