Music majors and debt

cello

So, I read a story about a cellist who went to school for performance.  He had to take out student loans to pay–like many other students.

After graduating, the cellist played in a symphony orchestra and taught private lessons; but, it wasn’t enough to make the payments on his student loans.

He had a plan, though!  Did you know that, if you cannot pay your student loans despite the job your education got you, you can apply to have your loans forgiven?  Me, either!  It didn’t work, though.  He applied and was told that, since he could have looked for a better job, he did not qualify.

This must have been before the days of income based repayment plans, too.  Or at least his first loan payout was before the official date that would have made him qualify for IBR.

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Can my loans end in a week instead of the entire world?

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Okay, so I don’t believe the world is ending in a week (why freak out about it, anyway?).  But, it would be nice if maybe my loans would end in a week.  Can that happen instead?

Introduction: Student loan debt

Hello, and welcome to my new blog!

As a student in $20,000 of government loan debt, I understand what people are going through.  I hear and read about these horror stories of former students in $100,000 debt; they can’t make their payments, because of the current job market.  They’ve earned their degree, but still have to work at a grocery store part time to earn a living.  Now, their debt is sometimes as high as $300,000 with all of the interest!!  There’s no way!

Even with my $20,000 of debt, I stay in a constant state of nervousness; it just doesn’t go away…neither the debt nor that knot in my stomach that says that one of these days your credit is going to suck because you wanted an education and to spread your love of what you do on to others.  College might be turning into an impossible has-been unless something is done.

Well, luckily, I’m not that much in debt; and I’m not going to be.  I refuse.  In my line of work, if I apply for one of the only options at a real full-time gig, often 120 perfectly qualified people are all applying for the exact same position…because no one can find one…ok…so not nobody; somebody eventually fills the role, but these roles are open until filled…not, out of everyone who applied, the best one wins.  And, all the people hiring are so picky.  They don’t want someone straight out of college.  They want you to have your doctorate (ie be $100,000 in debt with no job guarantee like a doctorate is supposed to at least help ensure) and have already been doing this for a couple of years; about 1% of the time, your masters is ok (but, you’re still $40,000 in debt…at least…and you don’t have the 3 to 5 years they want of experience to make up for your lack of a doctorate).  Well, how nice for them that they can be so choosy.

I’m just about done!

Except, I suppose I’m just beginning…