In a recent informal survey, 20 University of La Verne students shared their thoughts about student debt, and specifically what they’d be wiling to do if they could to erase it.
When asked if they would give up caffeine forever to erase student debt, 13 said they would.
“I could give up caffeine easily to erase my student debt,” said Christine Kelly Salvador, speech communications major.
When asked if they would shave their head to erase student debt, 10 said they would do so.
“Coming from a household that has not always been financially stable and now we are, I would do anything to get rid of my student debt,” said Vania Medina, freshman criminology major.
“I would shave my head to get rid of my financial debt,” Medina said. “My hair will grow back. And again, I would do anything to get rid of the debt.”
Even though 14 of the students surveyed said they would go to jail for one week to get their debt erased, Joshua Kline, sophomore computer science major, said he was not willing to go to jail for any amount of time.
“There’s a lot I would do to get rid of my debt but jail is a different story,” Kline said “I would like to stay as far away from that place as I can.”
As college tuition increases across the nation, so does student debt.
From the 2018-2019 to 2019-2020 academic year, the average published out-of-state tuition and fees at public four-year institutions increased by 2.4% and the average published tuition and fees at private nonprofit four-year institutions increased by 3.4%, according to the College Board.
“I am extremely overwhelmed by student debt,” said Laryssa Lahn, freshman art major.
“It makes me anxious knowing that I have so much to pay for and I’m only 18 years old.”
Ninety-three percent of people have student debt with the amount ranging from $20,000 to $24,999, according to the Federal Reserve System.
Most students here said they were willing to give up little pleasures in life, and many their freedom for a short while to make their financial burdens disappear.
Only one of the ULV students surveyed were unconcerned about how student debt would affect them later in life.
“Before coming to the University of La Verne, I made a really good plan,” said Jesus Espinoza, sophomore legal studies major. “My student debt should be really low, so I’m not too worried about it after I graduate.”
Lolafatima Adekayode, freshman education major, said she often thinks about the burden she is placing on her family.
“I thought that my financial aid would take care of most of the cost of my education,” Adekayode said
“But now my parents help and I didn’t really want to put that on them.”
Priscilla Applebee can reached at firstname.lastname@example.org.