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Did any of these kids (and I am one of them, graduated in 2013) stop and think that paying 50-70k a year after room and board to attend a university was insane?
by treehau5 10y ago
Did any of these kids (and I am one of them, graduated in 2013) stop and think that paying 50-70k a year after room and board to attend a university was insane? I had the option to go to a nice university, and maybe my horizons would have been expanded, maybe they wouldn't, but at the end of the day I am happy where I ended up and I went to community college for 2 years, and the public state university, for the remaining two., driving 1 hour to college from my parents house. Crazy I know. I lived at home! I ended up with 1/16th the debt of most of my cohorts.
It's fine if these kids were just doing exactly what they were told or people sold them on the koolaid, but generations prior also had to navigate the diverse world of snake-oil salesmen and people hyping up things and overvaluing them -- you can't beat teaching common money sense. Simple math. Teaching personal finance should be in inserted into middle school and taught all the way to graduation.
- reader5000 10y agoI agree, the taxpayers were pretty stupid for taking on the risk that kids wont be able to pay on their student loans. Too bad for the taxpayer!
- DamnYuppie 10y agoThe government is collecting quite a bit of interest on over $1.4 trillion dollars in student loans. I was also under the impression that for the vast majority, outside of a few programs, can't get rid of the debt, even with bankruptcy. So overall the money is being made.
- mywittyname 10y agoThe government only took on $32k of the risk, that's where federal aid caps for undergrad. It's private banks that are more than happy to sink kid's futures prospects by lending them that extra $50, 60, 70 thousand dollars or more (and to take their parents down with them).