Crushing Student Loan Debt Is Hurting Women the Most (Black Women With The Highest Burden)

[#1 pick]

The bum part is true. But also most well paying jobs that don't require college education are physical jobs. Most women don't want to do those jobs.

Men and women are wired differently. Women would rather do a job they like and paid well.

Men don't care if they like their job long as they are paid well.

In careers men normally chase the money and women look at a job outside just money and look at other factors like enjoyment, environment and etc.

Most men right now would quit their job to take a job paying 250k to dig ditches. Most women ain't willing to quit their job no matter how much is being paid to go dig some ditches in the hot ass sun.

So women in general are always more likely to go the college education route. You see this all around the world especially in western societies.

This has always been said. Most people, not just women don't want to do those hard working labor jobs. They suck. That said, the money is always there.

 

[#1 pick]

Brothers have already broken it down.

If Black American Women on the whole were graduating from HBCUs or State Us with more debt but opening profitable business, collaborating with other sisters instead of competing and stunting, working in high paying specialists roles or rising through the ranks of government en masse (education/police administration/politics/infrastructure planning) this article would be a non-starter. Or framed completely different.

Did it ever occur to you that the single mother rate in our community is so high because the average Black American Woman isn't graduating from Spellman or Moorhouse well connected with a job lined up in corporate America working under a Black supervisor in a city with a major upwardly mobile or middle class Black representation?

No they are graduating from ITT university with 25k in debt to become a "marine technician" AKA pet Shamu for 40 hours a week in South Florida which pays 25k max. No opportunities for growth working under inbred South Florida hicks. Then going back to get a real fukking degree because they realize at age 25 that they aren't making it anywhere in the region or anywhere else with that degree. In the meantime they already had a baby with some local underemployed uneducated bumper burger flipping ass negro so those loans aren't going anywhere with the cost of pampers and medical bills. In the state of Florida, Louisiana and many other southern states there's tons of "college grads" on fukking medicaid and TANF shyt. Obviously most of these are White and Black single mothers with Latinas catching up quick. The difference is Pablo isn't on child support and he typically can find at least menial work.

And lastly to @Booksnrain point most of these Black Women graduating from prestigious Universities and getting paid six figure salaries ARE NOT HAVING KIDS meanwhile Shaquila with the CNA cert and 25 college credits earning 25k and struggling to pay back 5k from an incomplete general core studies semester at freaking community college or Corinthian/Phoenix/DeVry University. Shaquila having at least 2 or 3. Which skews the Black single mother rate. Successful Black Women need to tone down their expectations to produce more quality Black children because Ghetto Black Women are reproducing at 10x the rate.

As a prior poster mentioned it is about debt-to-income ratio. That's what it boils down to but if you can't even make 45k then what's the point?

The answer is easy, depression makes terrible stupid decisions far easier than being content and comfortable. This usually explains most of the reason why these women make these decisions you think are so dumb in the first place

 

[LeVraiPapi]

I graduated last summer and had more than that in debt. I was lucky to just land in a job that pays well so I'm throwing a lot of my money at my debt and have paid about 30% off since this fall.
I went to a state school and stayed at home and got a scholarship each semester of undergrad. my grad degree was half funded by the school. I didn't qualify for work study (even tho work study was very low at my school-I know bc I worked in the student employment office).
Black students period are honestly not well prepared for the financial part of college. I had to learn most of it myself.

Great post. I will invite u to a thread so we can do some stuff together, like educate the you g. You down?

 

[#1 pick]

My ex was an attorney but was HORRIBLE with money.

She had about 230k in negatively amortizing student loans.

I never told her this but that was a big part of the reason I broke up with her.

I understand, debt can be crippling

 

[RoyalQ]

While I'm sure this thread became a bash black women thread I'm going to give serious answers. I think there's a couple of factors. Hopefully when I graduate in two years I won't be in debt.
- alot of people around me want stupid majors that don't even pay. So many bw want to pursue social services, art, journalism, or be a teacher. They don't even like those careers and they don't pay well either. I give a pass to people pursuing low grade majors if they are super passionate and it's their dream job. But many of my friends seem like they just closed their eyes, threw a dart at a wall of careers, and went with whatever it landed on. My friend want to be a medical assistant, I asked her if she liked that career and she said no but it's whatever. Then she goes to school for 16k only to never work as a medical assistant a day in her life. It's been 4 years and she still has never worked in that field. Yeah she pulled a loan for it too

- Many fail to realize that school prestige is only relevant in a handful of jobs. Many prestigious or well known schools cost ALOT. the same exact major at a CC or smaller school vs a well known school could be 15k vs 75k. Some are obsessed to obtain a freaking early childhood teacher degree from So-and-so College and loading themselves with 50k debt because they swear the name will give them an edge. Really it doesn't and you could have gone to CC and got 10-15k tuition. I realized that early thankfully. I was obsessed trying to get into a well known school thinking people might think I "learned better" at a certain school. But then I spoke to so many professionals in the career I wanted and most of them are from schools I've never heard of. But yet here they are working and making money. So I decided to stop chasing a big name school and now this fall I'm starting my program at a small not to well known school and it cost so much less.

- yes some do take out more loans than they need so can live of the money. Either to help pay for food and gas. But there are some idiot who blow it on eating out and buying clothes.

- loans period. But I think this is a black community issue. Many parents simply never set aside money to help their kids with tuition. We are forced to pull out loans if we don't have scholarships. For black people loans are the first option (then you have discrimination in the banks and trying to give higher interest rates). For other races I notice they go through scholarships first, then family and they ask uncles and aunts for any bit of money (this is more so the family centric cultures like Asians and Hispanics), THEN they go to loans. By the time they get to needing a loan they don't to pull out as much.

-after graduation many people only want to work in a certain place even if it means they are out of work for a year. That makes it so that your not paying your loans back as quickly as you could. Like if you go for engineering. Some people are obsessed with working for GE company and refuse to work any where else. If they can't get hired at GE then they rather work at Walmart and wait for an opportunity to get into GE. These people fail to realize that even though you can't get into GE there are still plenty of places you can work and still make big money. It doesn't HAVE to be GE. You can still make money and throw it at your loan to pay it off.

 

[SouljaVoy]

That's fukked up... I'm homeless right now living out my car cause these bytch ass motha fukkas wont give me enough money for housing. & The private banks on some hoe shyt. They wont even approve my loan for $3k..... So now I gotta find an apartment to live in a city I'm only at for less than half the year.

But all these Black Women at my school got Louis Vuitton Bags they bought with their refund checks.



The system is set up for us black men to fail & for the sisters to succeed, that way their is an economic gap between us forcing our sistas to feel like they gotta bedwench. It's fukked up out here.

 

[Swirv]

If you don't have parents who know how lending works then you are fish to these loan sharks. Most people who are saddled with student loan debt probably didn't have effective guidance when it came to financing their education. My friend was advising a high school senior to not worry about student loans and pile them up if necessary since they get discharged when you die.

 

[mamba]

If you don't have parents who know how lending works then you are fish to these loan sharks. Most people who are saddled with student loan debt probably didn't have effective guidance when it came to financing their education. My friend was advising a high school senior to not worry about student loans and pile them up if necessary since they get discharged when you die.

 

[imp7]

Great post. I will invite u to a thread so we can do some stuff together, like educate the you g. You down?

Sure, I need to learn more financial stuff myself.

Hol'up wait a minute!!!
You had grants and shyt and still had to finish college with a 30 000 debt?!!! How much would you have to pay if you never threw any money and all you did was pay with loans?

It would have been a lot lol. My debt was roughly 40k. a year of grad school would have been $24k, I got a waiver for $13k. Each year of undergrad was like $14to $15k, I got a scholarship each year for $4k. Also I let my mom talk me into accepting 1k-3k more than I needed for books and supplies each year. Once I got to grad school I made sure to only borrow as much as I needed to cover tuition.

 

[ahdsend]

 

[NinoBrown]

Gotta read the fine print, it is a bad situation, but loans aren't "free money" and defaulting on them is serious, unlike credit cards and other commercial lines of credit...

 

[Mike Nasty]

The banks aren't going to take any Ls, not in this country.

 

[Apollo Creed]

Be a strong educated woman brehettes