Reporter's Notebook

Your Stories of Financial Struggle
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Spurred by our May 2016 cover story “The Secret Shame of Middle-Class Americans” by Neal Gabler, readers share their own experiences with economic impotence, compiled on this page in an ongoing series. Gabler discussed the response to his piece at The Atlantic’s Summit on the Economy. For expert takes on middle-class insecurity, see this Notes series.

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'School Loans Weren’t Just a Choice; They Were a Necessity'

Mary in Pennsylvania has a new and crucial perspective to share:

This is in response to the recent reader note “Taking on Student Loan Debt Is a CHOICE.” Guess what? Like Kirsten, I’m tired of hearing about school loan debt, too. But I’m also in the middle of the experience.

Although taking on debt from student loans was a choice, my other options were not realistically viable. See, I was raised in poverty, and I was still in poverty when I started at a community college as a twenty-something adult working in a dead-end job and raising my three kids as a divorced mom. There was no drunken partying until the wee hours of the morning, or blowing off classes that Mommy and Daddy paid for. Try juggling three kids, one of whom was in diapers and child care, a job and a full schedule of college classes, complete with homework and labs. Without those loans that I “chose” to take out, I would likely still be working for minimum wage and living in poverty.

Earlier this summer, a Canadian reader, Kristen, voiced the “Unpopular Opinion” that she’s “tired of hearing about people’s student loan debt,” given her dogged efforts to pay for her own college tuition without loans and thus forgo “the ‘university life’ that I saw on TV: brick buildings, living on campus, and fun parties every weekend.” But a reader who grew up in poverty, Mary, responded to Kristen that “without those loans that I ‘chose’ to take out [while working as a single mother of three], I would likely still be working for minimum wage and living in poverty.”

Here’s another key perspective from Olivia in Dayton, Ohio:

I appreciate the comments of others from Canada and from Kristen that show how university can be less expensive in that country but still a burden that has to be paid. I really wish I would have walked Kristen’s path, because she is so smart for making the choices and sacrifices that she did. I hope she is rewarded for those good choices throughout her life.

However, I am disheartened by the constant attention to the newer grads. I am mid-forties and graduated during the 1990s. It is my friends and peers who are having an awful time paying these loans, some 20 years later. Why? In the ’90s, the interest rates were at 8 percent … guess who is STILL paying those rates.