The Economics of Incentive

[Whitney]

Today I've been fleeing from one site to another attempting to find temporary housing in Ottawa, Canada this spring. The entire endeavor has been pretty successful so far, but it is not without hiccups and minor roadblocks.As I was describing my current state of being to a friend, I used the analogy of juggling. I have all these bits and pieces of my life that have to be held in a precise balance or else if one goes, well all the other are thus affected. Maybe that's more of a dominos scenario... hmm... either way, the point has been made. So I'm tossing ideas around, solutions are being sifted and I'm figuring out what will work, what might work and what definitely will not work at all.Amidst one theoretical of the afternoon, I found myself staring at all the loans I have that are currently in grace thanks to my lovely undergraduate education. The numbers are a bit scary, but not impenetrable. That's before I put them together and add in the interest over the course of some formulaic payment plan yet to be decided upon. Yes, it's at that moment that I freeze. Stare. And begin creating magnificent theatrical displays of anger and helplessness in my mind. Oh, don't think for a second that I would literally start screaming... that's just a bit much. But I often feel like screaming into a pillow at least... that's reasonable, no?Now, lump onto this the current economy and the fact that I'm competing with people who already have masters degrees, I'm feeling slightly tiny. I have a positive outlook and believe that if handled correctly, the loans will eventually be paid back with (I hope) little pain and sadness. The one thing that I really loathe, however, is not the fact I had to take out loans (although I don't enjoy them), or that I don't currently have a job (although I'm looking, have applied to many and now have an internship so far), but the fact that I have to pay so much more money simply because of the interest accrued.This seems unfair.It was only for my education. An education that would help me put money back into the now flailing economy. Why should I be penalized for trying to make my life better? This is the problem. There is nearly no incentive for students to go to college. It's becoming increasingly difficult to get a job post-graduation. The jobs that are available now need at least 1-2 years of experience (or more in some cases) and/or require advanced degrees beyond the bachelors level. In addition to sky-rocketing tuition, we find ourselves having to go back to school, take multiple jobs and/or work longer hours, in order to attain the type of life that was propelled to us for years. Yet, we're being penalized all the while. I will have to pay nearly double what I took out thanks to the interest that (might, unless I change it up...I'm working on it) will inevitably mount on my loans.Something is not right here. Are we really that envious of creating a class of uneducated and unhappy individuals that education will become (once more) only a thing that a minority will be able to afford?Maybe that last part was extreme, but ... sigh.