Gener@tion Debt

According to an article in The Daily Bruin, pell grants once made up 80% of college students total tuition debt. Today, that percentage is roughly 35%. As President Bush talks about plans to increase the Pell Grant by its largest percentage in 30 years, the issue of the astronomical costs of higher education, and the debt it brings will remain a hot topic.

Perhaps more importantly, is the potential effects this trend will likely have on the economic power of our country, as well as the continuous widening of the gap between the poor (working and non) and the financially affluent. More than ever, those students with less privileged backgrounds will continue to view a college education, as a distant, non attainable dream.

This brings me to the story of Danya Steele. An extremely accomplished media professional who is barely old enough to drink. Voted at just 17 as one of Teen People Magazine’s 20 teens who will change the world, she continues to do just that. An independent student with no family backing (MIA father and imprisoned mother), Danya has managed to accomplish more at 22 than most twice her age. After studying in both South Africa and England’s Oxford University, Danya finds herself in the heart of this issue. Danya is currently in the beginning stages of developing and commercially publishing a book to bring attention and awareness of this growing problem while spearheading a viral fundraising campaign oddly enough to raise funds to commence her own education.

Danya is an associate of mine as well as one of my company’s earliest ambassadors and her story is all too familiar to me. Several of my close friends including my significant other continue to struggle with the costs of education. Luckily, I managed to finish just this past January. However, as I opened my SallieMae mail just yesterday, I’m reminded of the financial difficulties it took to get here. 

The concept of a college fund was unheard of to me growing up. Whereas most kids expect their parents to put them through school to make their life easier, the only thing I wanted to do once I reached 16 was work to make things easier for my mother. With this country lagging terribly behind competitive counterparts in terms of education particularly in the math and sciences, the obstacles that many of us have to hurdle just to obtain an education must be minimized. Innovation, brilliance and productivity come from ALL social classes.

I think Kalamazoo Michigan has the right idea. They are investing in their community’s future through educational incentives. I think the negative consequences of not leveling this country’s educational playing field will be great.

To learn more about Danya’s viral campaign, visit www.danyasteele.com