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It's irresponsible to borrow when you will not have the means to pay back the debt. Most college graduates end up underemployed or unemployed after earning a de
by Kephael 8y ago
It's irresponsible to borrow when you will not have the means to pay back the debt. Most college graduates end up underemployed or unemployed after earning a degree in a non-rigorous major from a mediocre school. With only a BS degree and ~$30k debt, a professional job can easily pay this off. If the market could price the loans properly, perhaps they'd be discouraged from taking out the loans. Realistically, a loan would not be made in the first place.
- wtvanhest 8y agoThere are not enough 'professional jobs' in the United States to pay the total debt service created by the cost structure. If everyone switched to business and engineering, there would still not be enough jobs to support the educational cost structure.
- Kephael 8y agoThis is obvious, but people and loan issuers do not respond to this reality because the government guarantees the loans. Hence, the current situation continues.