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I may not look like it, but I am a modern-day serf. Saddled with thousands of dollars of student debt – debt that has been stripped of all consumer protections and is non-dischargeable in bankruptcy – I am part of a screwed generation.
Earlier this year, the collective student loan burden in the United States passed the $1tn mark. Analysts are increasingly referring to a student loan bubble that could result in a crisis similar to the subprime mortgage crisis of 2008.
Welcome to the screwed generation: Natalia Antonova writes about the US “debt generation” and her struggles with it. She’s not the only one.
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