"It was a really rude awakening coming to New York and not being able to live on a teacher salary. For the next few years, Alicea says she struggled to square the importance and impact of her work with the low wages."
"Roughly 60% of teachers took out student loans for their education and nearly 40% have outstanding balances, on which they pay an average of $342 per month, according to a 2025 Learning Policy Institute analysis of the National Teacher and Principal Survey."
"About 17% of public and private school teachers reported having a second job during the school year, according to data from the National Center for Education Statistics."
Ashley Alicea, a 33-year-old educator, demonstrates how teachers in New York City navigate financial challenges through multiple income streams. After returning to NYC in 2020, she transitioned from a $50,000 preschool teaching salary to earning $90,000 annually at a charter school while supplementing income with $55/hour mental health counseling work. This dual-income approach enabled her to secure housing through the NYC lottery and address $61,000 in outstanding student loans. Her experience reflects broader teacher financial struggles: approximately 60% of teachers carry student loan debt with average monthly payments of $342, and roughly 17% maintain second jobs during the school year. Alicea's journey illustrates the necessity of side hustles for educators seeking financial stability in high-cost urban environments.
#teacher-financial-struggles #student-loan-debt #side-hustles-and-multiple-income-streams #nyc-cost-of-living #education-sector-wages
Read at www.cnbc.com
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