COVID-19

👜Surviving Unemployment: Strategies for New Graduates👨🏻‍🎓

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Recent college graduates are expressing ongoing frustrations in attempts to secure jobs.

https://www.nbcnews.com/business/economy/job-market-report-college-student-graduates-ai-trump-tariffs-rcna221693

To make matters worse, student loan collections started May 5th.  This comes after the initial pause of student loan repayment which resumed October 2023 after Covid-19 payment extensions expired.

https://www.nbcnews.com/news/us-news/student-loan-collections-restart-explained-rcna204494

🏛️Student Loan Collections Vs Repayment🤌

So, what’s the difference between collections and repayment?

Debt collection occurs after a borrower fails to make payments after a certain time as agreed, also known in business terms as default.  The creditor-in this case the student loan company may attempt to recover the amount owed or involve a third party known as a debt collector or a collection agency. 

Debt repayment is the process of the debtor-the person(s) who borrowed money, paying back what is owed to the creditor.  Creditor is the person(s) or business to whom money is owed.  Debt repayment involves a payback schedule, also known as the amortization schedule.   Amortization schedule(s) give the amount, dates of repayment, and number of periods required to repay debt.

⏰Hard Times Won’t Last, Tough People Do🤕

I remember graduating from college in 2008 and not being able to find work.  I immediately made the decision to return for a master’s degree.  I won’t revisit the entire story, but if you care to know the backstory, check out the following blog posts below.

The American Dream: $85,308.07 In The Hole
Why? -$27,281.44 Paid, $58,026.63 Till Pay Off

Trust me, I have plenty of other blog posts.  Feel free to go down the rabbit hole by clicking on older links 😊.  The Lord got me through the years that followed battling unemployment.  I felt like a failure and my message to anyone who can’t find work is…

🧗🏼‍♀️Things will get better if you don’t give up🧗🏼‍♀️

I don’t know what it is like for you right now in 2025, but I remember the feeling of hopelessness in 2008.  Misery regardless of the date and time is a horrible experience and we all just want to get out of it.  Here is how I survived a recession with student loan debt.

  1. Consider moving back home with family.  I know, I know… no one wants to move back home with family but count yourself blessed if this is an option.  Your family wants what’s best for you.  Remember no family is perfect but take the help you can get while it’s available.   
  2. Connect with people you trust.  Let the people that love know how you feel.  Many times, people don’t know the pain we are going through, so we cannot assume people can readily understand our experiences.  Communicate with your loved ones; and pray for discernment on who best to talk to about struggles.
  3. Just find a job.   Yes, any job for the meantime will do because you still need to eat.  By providing your most basic needs, you’d be surprised how eventually others will feel compassion for you.  The help may not come quickly, but in working you are helping yourself, and to help yourself is to love yourself.   While I worked as a cashier after college, the blessing came in the form of improving my ability to small talk.

That’s it for this post!  Until next time everyone… Stay strong💪, fight on🥊💥🥊, and have No Debt But Love❤️. Peace and blessings!✌

Life After Student Loan Debt: $85,308.07 Paid

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Debt Freedom

It has been one year and eighteen days since I have been student loan debt free. I imagined my life being much happier not having to budget for payments to student loan servicers. But let’s visit the past… my life after graduating from college in 2010 started off awesome as I made the best decision of my life-I married my best friend. However, marital bliss did not last long as Nelnet, Fedloan, ACS, and University Accounting Services demanded much of my paycheck.

Im Free GIF - Im Free GIFs

My student loan payoff struggle lasted 8 years, 9 months, and 7 days. It was difficult working multiple jobs that didn’t pay much. My ego took a hit in knowing I did not earn enough to provide for my wife; making matters worse, my jobs involved working overnight. Somehow, someway the Lord in his mercy allowed me to keep my sanity.

The Struggle Was Real

So there I was, a recent college graduate and life was just not working out. Thankfully it’s been 11 years since the initial haymaker life dealt me. It’s hard to believe somedays I graduated 11 years ago and for a very long time I despised my education. I was embarrassed to ever mention my degrees as I had little to show for them except debt and minimum wage jobs. By the way, minimum wage in Texas is $7.25, a far cry for what is purported for earnings for degree holders.

Feast your eyes on a chart below provided by the U.S. Bureau of Labor statistics for the year of 2017. Supposedly, someone with master’s degree is to earn about $1,400 weekly. ***For the unemployment rate figures I have supplied the link (Source) to that information in the link below the chart.***

Source: https://www.bls.gov/careeroutlook/2018/data-on-display/education-pays.htm

However, from 2011 to 2013, I earned just under $500 a month; and from 2013-2016, my monthly earnings were about $1,600 monthly. Don’t get me wrong, by no means is this post meant to be a gripe, moan, and groan session. The purpose of No Debt But Love is to inspire the next generation to avoid student loans at all costs and to encourage those with student loan debt to get rid of it as quickly as possible.

The purpose of this post is the reminder that although we have plans for a better life and future, life happens and things get ugly fast. Oh… have you forgotten? Let me remind you.

COVID-19 & Change of Heart

Let’s be real, I didn’t daydream about paying off my student loans and then witness friends and family need stimulus checks a month later. I remember a classmate not so long ago told me, “Don’t get upset if student loans are forgiven right after paying yours off.” I really didn’t think much of his statement because I figured, “If I can pay off my debt, then why can’t everyone else? I made sacrifices and paid it off, now you do the same!”

In my humble opinion, our apathy is what is causing the world so much pain. Although I have paid my student loan debt, I must remain concerned for others who are in this situation. The same is true for example, when showing support to someone who discloses their struggles with cancer. You wouldn’t dare respond to the news with, “I beat cancer, so you can too” this response would be outrageous.

Student loans threaten to derail and often destroy the financial lives of young people. Currently, the U.S. president is considering options to make student loan debt cancellation a reality. To be honest, I am happy student loan debt is discussed in the news more often now. I pray we all listen in a nonjudgmental manner during the next student loan debt story we hear. Until next time everyone!  Stay strong…💪 fight on…🥊💥🥊 and have no debt but love! Peace 🕊️ and Blessings🙏🏻.

Colleges consider a tuition freeze amid pandemic

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May 7, 2020

Jessica Dickler, CNBC

As the financial strain on the families of college students worsens, there’s one measure few schools have considered until now.

A number of colleges are freezing tuition in hopes of attracting more students and families struggling with the weight of a higher-education tab.

In the face of Covid-19, the College of William & Mary said it would roll back a previously approved 3% tuition increase and keep tuition and fees for all students unchanged for the coming year. 

Delaware Valley University in Pennsylvania, Kansas City University and Central Michigan University, among other colleges across the country, all announced similar measures to freeze undergraduate tuition and fees.

“We know if we do this other universities may do it,” said Central Michigan University’s president, Robert Davies.

A number of colleges are freezing tuition in hopes of attracting more students and families struggling with the weight of a higher-education tab.

In the face of Covid-19, the College of William & Mary said it would roll back a previously approved 3% tuition increase and keep tuition and fees for all students unchanged for the coming year. 

Delaware Valley University in Pennsylvania, Kansas City University and Central Michigan University, among other colleges across the country, all announced similar measures to freeze undergraduate tuition and fees.

“We know if we do this other universities may do it,” said Central Michigan University’s president, Robert Davies.

To Read More, Click Link Below:

https://www.msn.com/en-us/money/careersandeducation/colleges-consider-a-tuition-freeze-amid-pandemic/ar-BB13JNeR?ocid=spartanntp