My nice-looking grey jacket that I got almost a decade ago is just fraying from age on the sleeve cuffs and at the bottom hem, and tearing in the lining, and it's just old, though it's been mended once, and there's really no way that I can afford a nice-looking new coat now, since it'd be a couple hundred dollars and after my rent and bills and groceries for the month every month, I have like maybe $300 left over.
And, that's with my parents paying my student loan payments every month, out of some inheritance that they got when my great uncle died a while back.
If I had to pay student loan payments on my current income, I'd be $5 short every month, assuming that all my spare cash went to student loan payments and I never had any savings or emergency expenses or anything!
Going to graduate school really destroyed my family's generational wealth and has helped drive me even further downward from the middle class, more rapidly.
I had around 15 years of lost earnings, and then I got out of my degree program in debt and with a degree that didn't really lead to any special employment, so instead I could only get employment that just barely covers my expenses, after more than a year-and-a-half of job search.
"Classic story."
That's actually the standard situation for a lot of people, nowadays. I'm actually better off than many since I have a bit of inherited wealth that covers my student loan payments, though from everything I can tell, that's basically been around a third of what I'll get if/when my parents and family die and proportionate money flows to me.
A third of our family wealth, wiped out by student debt that didn't even result in a decent profession where a person can maintain and set a bit aside.
It's pretty astounding, actually.
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