If someone falls below the point where they can afford the requirements for typical jobs, then they may enter into a spiral where there is no path out of poverty.
There was a great moment of irony in my early career where lacking a job post-college ('08 reccession) I was unable to pay my student loans. 6 months after graduating I received an offer from Sallie Mae to work as an engineer, however due to corporate policy a sallie mae will not employ anyone who is arrears on their student debt.
At this point, owing approximately $2000 and only had $250 to my name which was required for rent, food, and the 18 year old ford escort that I needed to drive to work.
I was able to arrange the money, but ultimately I was within a day of being put out of work for lack of ability to pay a debt. Had this occurred I likely would not have been able to work in software, and in all likelihood the bank may never have gotten their money back on the student loans.
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If someone falls below the point where they can afford the requirements for typical jobs, then they may enter into a spiral where there is no path out of poverty.
There was a great moment of irony in my early career where lacking a job post-college ('08 reccession) I was unable to pay my student loans. 6 months after graduating I received an offer from Sallie Mae to work as an engineer, however due to corporate policy a sallie mae will not employ anyone who is arrears on their student debt.
At this point, owing approximately $2000 and only had $250 to my name which was required for rent, food, and the 18 year old ford escort that I needed to drive to work.
I was able to arrange the money, but ultimately I was within a day of being put out of work for lack of ability to pay a debt. Had this occurred I likely would not have been able to work in software, and in all likelihood the bank may never have gotten their money back on the student loans.