Finally, Student Voices Enter the Discussion on Education Debt

This country stands at a crossroads with regard to the role that higher education plays. Education debt is a growing barrier to future prosperity.
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Traditionally, the story of American prosperity goes something like this: study hard, stay focused you'll be able to get the education you need for your share of the American Dream -- and the long-term prosperity that's supposed to be part of this dream.

But this country stands at a crossroads with regard to the role that higher education plays in the American Dream. A number of factors -- political, economic and ethical -- have pushed us to collectively ponder and debate the best way to support the pursuit of higher education. Many of us, including me, have voiced our opinion and advocated for specific ways to maintain access to higher education.

In particular, education debt is a growing barrier to future prosperity. Education debt has now surpassed the nation's credit card debt, and it's expected to top one trillion dollars in 2011. More and more, people are choosing not to pursue higher education because of the costs, and those who do take on loans are struggling to successfully save and invest in important assets after graduation. It's my belief that debt should position people for future financial success, not stand as a barrier to success.

Have you noticed something, though? The voices of people who have borrowed money to go to school are missing from the conversation about access to education. Sure, sometimes these folks are quoted by journalists in stories that appear in the press on the topic of education debt. EARN, the nonprofit I lead, is shifting the terms of the dialogue, to give real people around the nation a voice in this conversation. We built MyDebtStory.com to be a platform that allows education loan borrowers to tell their stories - in 3 minute videos that they upload themselves.

Why am I telling you this? First, because I think it's important to have as many voices as possible participating in this crucial debate about access to the American Dream. Second, because I want you to spread the word about the MyDebtStory.com contest! Thanks to an anonymous donor, we will award $5,000 to the person whose video receives the most votes through the month of July. Have a look at the short video below for a brief introduction to MyDebtStory.com:

When I upload my own video, it will be a story of how government education loans enabled me to completely transform my life. I consider my college and grad school debt, which I am still paying back, to be the best investment I have ever made. Other stories, already uploaded to MyDebtStory.com, tell a very different tale, of students feeling doubtful of the value of their debt, and hopeless about paying it back.

Congress, the media, and banks are already talking about education debt. I'm asking you to help make sure that the debate includes what real people are experiencing as they navigate life with education debt. MyDebtStory.com will ultimately reflect the good, the bad and the ugly of this issue.

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