Buckle down for this one because it's about to get real. Real vulnerable. Real personal.
Student loans are good debt.
It was said so casually that no one ever questioned it. It was normal.
"Kellee, everyone has student loan debt"
You go to college. Take out the loans. Get the degree(s).
YoU'lL mAkE eNoUgH mOnEy To PaY iT bAcK!
That was the dream we were sold (millions of people btw)
I just want to know...
Who decided student loans were "good debt"?
Because for many of us, they haven't felt good at all.
When you're a teenager, you're asked to make one of the biggest financial decisions of your life.
You're told that if you want a good career and a stable life, college is the path. And in order to go to college, you'll probably need student loans.
No one really tells you like I need to be told things, direct and clear.
"Kellee, you are going to have this debt for the rest of your life. Doesn't matter what field or career path you have, it is still going to take years and years and maybe decades to pay it off".
Instead, it's framed as an investment.
Something responsible or smart.
The truth is that most teenagers don't fully understand what they're signing up for. (using teenagers because that is in fact who is making these decisions)
At that age, you're still figuring out who you are (and some people are still figuring this out as adults), let alone what you want to do for the rest of your life.
I mentioned before that my parents are from Trinidad and Tobago.
Higher education is free to the people who live there. Aint that something.
So, growing up, all I heard was: "In this country, everyone has student loan debt", "It doesn't stop you from buying a house" "It doesn't stop you from living your life"
Pretty much normalized. It was just another monthly bill like your light bill or phone bill OR the cost of a mortgage (lol).
It wasn't until after college and started working and making friends that I realized something.
Everyone does not have student loan debt.
Some had scholarships/grants.
Others had parents who could help.
That's when it hit me. Six figures in student loan debt are indeed not normal.
But for many people, it was normalized and the problem for me was calling it "Good Debt".
The idea of it makes sense when you imagine investing in your education to make more money later on.
But let's be honest, majority of people who graduate with massive student loan balances do not make enough to cover payments, the compounding interest AND live a normal life. Doesn't matter the career and yes doctors, lawyers, nurses, etc. they have tons of student loans too and still cannot pay it off in a timely matter.
And while I'm grateful that I qualify for student loan forgiveness (I just hit 120/120 whoop whoop!) due to me spending the last decade working in education and nonprofit, I also know that not everyone has that option and that is not everyone's situation.
Many people will be paying these loans for the majority of their adult lives.
That reality alone should make us question whether calling this "good debt" is fair and honest.
If there's one thing I've learned is that we have to do better educating young people.
Teenagers deserve the truth.
What these loans mean.
How interest works and what repayment actually looks like (maybe some simulations)
Also, how different career paths will affect their ability to pay them back.
If you're someone walking around with student loan debt, especially six figures worth of it. I see you and understand you. Not everyone wants to live life in debt (it's me, I'm everyone ...it goes back to me and my quest for freedom and ease)
But you followed the path that society told you was the right one.
We need to start questioning why they are okay with allowing us to take on so much debt. Because calling something "good debt" doesn't automatically make it good.
And maybe the real conversation we should be having isn't about how normal student loans are.
Maybe it's about why they're so necessary in the first place.