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And for every rich person, there's 19 more that got screwed one way or another with scholastic loans. The last major age generation (the ones who are in their

And for every rich person, there's 19 more that got screwed one way or another with scholastic loans. The last major age generation (the ones who are in their 50's to 60's) pulled the ladder up on us millenials. Ive heard the stories that college education in the '60s and '70s were affordable to the point that a summer job would cover 100% of the expenses. Instead, I ended up in $30k in debt. The debt is a fact of life. And so is the likelihood that social security will not be there when/if I retire. The age keeps moving up and up, which is a form of generational theft. Next time, try depersonalizing these types of articles. The problem of higher ed debt is a scary $1 trillion behemoth with no end in sight. When that bubble bursts, we all should worry.

226jg5 8y ago
My wife accumulated about 30k in debt, through EducationOne. It was guaranteed through TERI. We chose a private lender specifically because at the time (early 2000s) private loans were dischargeable in bankruptcy and we wanted a hedge against the possibility that she might fail in her career. We accepted a significantly higher interest rate for that reason alone. They changed the law and now they're not dischargeable. Luckily, TERI itself filed for bankruptcy and didn't keep good records. They'd sold the loans but the records showing assignment to the new entity apparently don't exist. We stopped paying on them, they filed suit, and we demanded that they prove ownership of the debt. They withdrew the suit, and the statute of limitations has since expired.
SolarNet 8y ago
Then these articles should use a range of people who have actual problems rather than a single person (whose name is in the title! can't get more personal than that) who is being an idiot. You aren't wrong, but this article is worse.
waytooyahoo 8y ago
It is true that the boomers got a sweet deal. For instance, the Cal State schools were free until then Gov Reagan instituted tuition in the mid-70s. I think this guy is a grifter just taking advantage of a system that rewards grifters. Sheesh, I wish I could afford EXTREME sports.

226jg5 8y ago

My wife accumulated about 30k in debt, through EducationOne. It was guaranteed through TERI. We chose a private lender specifically because at the time (early 2000s) private loans were dischargeable in bankruptcy and we wanted a hedge against the possibility that she might fail in her career. We accepted a significantly higher interest rate for that reason alone. They changed the law and now they're not dischargeable. Luckily, TERI itself filed for bankruptcy and didn't keep good records. They'd sold the loans but the records showing assignment to the new entity apparently don't exist. We stopped paying on them, they filed suit, and we demanded that they prove ownership of the debt. They withdrew the suit, and the statute of limitations has since expired.

SolarNet 8y ago

Then these articles should use a range of people who have actual problems rather than a single person (whose name is in the title! can't get more personal than that) who is being an idiot. You aren't wrong, but this article is worse.

waytooyahoo 8y ago

It is true that the boomers got a sweet deal. For instance, the Cal State schools were free until then Gov Reagan instituted tuition in the mid-70s. I think this guy is a grifter just taking advantage of a system that rewards grifters. Sheesh, I wish I could afford EXTREME sports.