03-18-15

Page 1

The Oracle WEDNESDAY, MARCH 18, 2015 I VOL. 52 NO. 95

Inside this Issue

www.usforacle.com

S T A F F

Trans+ Student Union members discuss their struggles. Page 4

Montage

Debt and spending habits may signify long-term problems for new generation.

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By Brandon Shaik A S S T .

S PORTS Bulls set to play surging Tigers in first round of NCAA Tournament. BACK

classifieds..............................................7 Crossword.........................................7 sports............................................................8

UNIVERSITY OF SOUTH FLORIDA

Managing Stuck in the gap, money with waiting for Medicaid verdict millennials By Russell Nay

LI F E STYLE

The Index

News.................................................................1 Lifestyle......................................................4 Opinion.......................................................6

N E W S

E D I T O R

College education has become a minimum requirement in today’s workforce, but it doesn’t come with a small price tag. A study conducted by Bank of America and USA Today last fall surveyed 1,000 millennials across the country and found that, while 80 percent believed they would be as financially stable as their parents, about 53 percent are living paycheck to paycheck and not saving for the future. “I think students have a tendency to pay attention to academics and social issues and their general physical wellbeing many times and not pay as much attention to the financial skills that they need to have as an adult,” said Billie Jo Hamilton, director of Financial Aid. Last spring, the Wall Street Journal released statistics naming the class of 2014 the most indebted class, with an average student debt of $33,000 at graduation. “Students who borrow to attend education tend to have very high confidence that regardless of what they borrow they will not have a problem paying it back,” said Heidi Wisby, assistant director of financial education for the Office of Financial Aid. “They’re, I guess, maybe not looking at the details before the bill comes due.” Wisby believes that much of

n See MONEY on PAGE 3

W R I T E R

Though it is important to prepare for unexpected medical expenses and the financial burdens sometimes associated with health care, approximately one in five Floridians do not have some form of health insurance, according to a 2014 White House Council of Economic Advisers report. Chad Riese, a 23-year-old USF political science graduate, falls into this statistic. Like most graduates, Riese worries about paying for college loans and rent. Unlike most graduates, he suffers from epilepsy and has to pay off more than $100,000 in medical debt from costly medications, hospital visits and treatments. “I’m paying for my monthly

costs going to the doctor and prescriptions, but I’ve taken out some loans that I did not plan to pay for some costs that I did not plan,” Riese said. “Every semester before I was diagnosed, I was taking out subsidized loans like the most of us are on campus … but then I had to start taking out unsubsidized loans, which are going to be more costly and have higher interest rates.” Riese said epilepsy, a neurological condition that disrupts electrical communication between neurons, is a limiting condition with no one simple cure or medicine. “You cannot die from having a seizure, but having a seizure in a certain situation … behind the wheel of a car, having a bath alone, scuba diving, or skydiving … could kill you,” he said. “I still haven’t found my right drug. I’ve

n See HEALTH on PAGE 2

Chad Riese, a USF graduate with epilespy, doesn’t meet qualifications for Medicaid nor can he afford health insurance. PHOTO SPECIAL TO THE ORACLE

The Great Saiyaman!

The Japanese Club hosted a festival Tuesday outside the Marshall Student Center, featuring a cosplay competition. ORACLE PHOTO/SEBASTIAN CONTENTO


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