Woman paying $1500 a month in student loans shows why Americans weighed down by debt can’t afford homes

One of the toughest realities of college life isn’t just the academics, it’s the unreasonable tuition fees. With fees soaring significantly high, many students are left with no choice but to take out loans that carry huge interest rates, which trap them in debt long after graduation. On September 17, one woman shared her ordeal on her TikTok account, in a tearful condemnation over the burden of high-interest student loans.

Alyssa Jeacoma, who goes by the username @lightweightlyssie, posted a clip on TikTok expressing her sorrow over still owing money despite paying $1,500 a month towards her loans for a year. In the video, Shae says, "So as it turns out, the student loans that I've been paying $1,500 a month for, for two years, have a 17 percent interest rate. So, what I thought I've been paying off for all this time, I'm actually like, I owe more than what I started with." She then requests that the video reach the attention of rich entrepreneurs such as Jeff Bezos, requesting that they offer help.

Critising the student loan systems, she goes on to lament to her viewers about not being able to afford to buy a home, and continued to ask for financial assistance from celebrities such as Kourtney Kardashian, saying, "Like any rich person, please tap in like Kourtney Kardashian, you probably have eight houses. I'm never going to be able to buy one. Because I went to college." She continued to raise her financial concerns by stating that she plans to collect funds by becoming an egg donor. " I just signed up to be an egg donor. Guess what, got approved. Who wants my f**king kids? I can't afford them, so start a bidding war," she said in her video. Expressing her hopelessness, the woman goes on to further vent about her situation by questioning the financial institutions, US lawmakers, and universities for putting minors through such staggering financial situations to acquire a degree. "I signed up for this s**t when I was 17!"

A study conducted by Robert Bozick and Angela Estacion in 2014 explored the notion that high student loan debt can delay major life milestones, including starting a family, due to the financial strain it imposes. The study also found that an increase of $1,000 in student loan debt was associated with a 2% monthly reduction in the odds of first marriage among women during the first four years after college graduation.

After the video went on to garner much attention, users online expressed their sympathies to the woman and sided with her in criticizing the staggeringly high interest rate of student loans. One user named @AnnieGoodin wrote, "Student loans are a SCAM. You'll never convince me otherwise."

Another user named @PatrickBowers wrote, "Student loans should be 0% interest." User @user5759706528976 commented, "They don't want us to be able to afford a house."

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