The Iraqi debt crisis is out of control. Often times, parents in Iraq hope and plead for their children to go to the United States with hopes for a better life. It is, after all, what seems to be the end all be all answer. The Iraqi parents believe that the second that their child lands in Iraq, in whatever mode of transport (often times not a commercial flight, rather via water channels or unmarked aircraft) that he or she chooses, that the American dream will be handed to them.
It is quite the opposite actually, and we are here to look at the story of Maryam, a 23 year old living in the United States for 8 years. Maryam was born in the heart of Baghdad and moved to the United States when she was 8 years old. “It seemed to be the place of opportunity and an opportunity to change my fate”, says Maryam, sipping on native Iraqi tea in a cafe during our interview. “I love the country, but what seems to be left out in the conversation that parents have with their children before sending them off is the debt that they will endure. The average American has tens of thousands of dollars of debt, and a vast majority of Americans die with at least one form of debt. You get a credit card, get some debt, and then wonder how long do late payments stay on a credit report because you made a mistake. This stays with you forever and it is different than the Middle East where credit is nonexistent. It’s these basic personal finance mistakes that parents don’t know about and cannot warn their young, naive children going to a new country about and that is what hinders them from the American dream.”
We thank Maryam for her time and expertise on this interview and hope to have more to you soon.