Category Archives: Debt

How a Debtless Aloysa Became Buried in Debt

This post was inspired by Minting Nickels and her post My Money at 20.

This post was featured in Carnival of Personal Finance #285.

Many years ago, on another continent, in another country there was girl who graduated from the state university with a Master’s degree in Library Science. Since there were no library jobs that paid well, the girl got a job at a private wholesale company. In five years the girl was earning a decent salary (let’s not compare it to a dollar equivalent not to get confused). Years later the girl collected all the courage she had, said goodbye to her friends, quit her stable and promising job and moved over the Atlantic ocean to start a new life.

How I Got Overeducated and Loaded with Debt

My first culture shock was when I got admitted to an American University. It was not an Ivy League school, not a private college. I got admitted to a small town University with a good name and decent reputation. I came as a foreign student on a scholarship. The scholarship that I was awarded barely covered half of the cost of the tuition. It did not cover textbooks. As a foreign full-time student my tuition was a little over $4,500. The scholarship was a little bit under $1,500. The first year in school my stepfather generously covered the difference. He also bought me the textbooks.