Student Union Wall of Dumb… I mean Debt
As quoted in a news release by the VP external of the University of Alberta Students’ Union.
- (Edmonton, AB) – Totals from the University of Alberta Students’ Union Wall of Debt campaign suggests that many students are being excessively overburdened with loans. Approximately 800 students wrote their anticipated student debt load upon graduation on paper bricks. The total amount of debt on the Wall was $20,293,100. That is an average of $37,000 per student.
Now I can understand that it’s possible to run into trouble coughing up $6000 per year on tuition on top of raising funds to pay for rent, utilities and food throughout the year. I have a hard time believing that the average person signing a brick for the “Wall of Debt” needs to take out a loan big enough to pay 6 years tuition. Come on people, have you no idea how much money you are spending that doesn’t need to be spent?
If you drive a $25 000 car to school, pay $400 per month to park it on campus. Wear $200 pairs of jeans and carry around a $2500 laptop with you while you spend $800 per month on rent. Eat most of your meals at a restaurant and spend $80/night to go clubbing/drinking 3 times per week. Spending $2500 each reading week to take a trip to Mexico or Vegas. Those are the big expenses, just think about one of the small ones, if you stop at Starbucks for a $5 cup of coffee every morning you’re investing enough money to buy a new bike every year.
Our society has things worked out so that people who want to spend way more than they should are just allowed to do so. If you want to take society up on that offer you by all means have the right to do so. I don’t think you have to right to do so and then attribute your financial situation to being a student.