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If your 18, you have the ability to destroy or build up your life. At what age should someone be held to a 100k they took out in loans?

by anoxor 7y ago

2ion 7y ago
Perhaps after 1-2 years of mandatory military or civil service. Experiences like that put things into quite a perspective. At least for me, going on to university straight from high school was the most illinformed thing I ever did. Thing is, most people can't afford a gap year.
- barry-cotter 7y ago
  > Thing is, most people can't afford a gap year. Get a job. There, now you can afford a gap year if you save. Spend six months working all the hours you can get, whether it’s in McDonald’s or something better and if you continue to live like a high school student you can absolutely afford six months in South or Southeast Asia.
  - dragonwriter 7y ago
    > Get a job. There, now you can afford a gap year Youth unemployment, even at the lowest it's been in more than 50 years and even with the low labor force participation rate among youth, is still quite high. So “get a job” is far from automatic with desire. > if you continue to live like a high school student you can absolutely afford six months in South or Southeast Asia. But living like a high school student means “fully supported by your parents in their home”, which, if your parents aren't in South or Southeast Asia, you probably can't manage there. Aside from (and because of) that, high school students tend not to have a particularly spartan lifestyle, actually it's often quite profligate, so I'm not sure what you are trying to say here.
    - barry-cotter 7y ago
      In a country where people who can’t speak the majority language and have no legal right to work have little trouble finding a job I doubt there’s much difficulty finding work for most. Forgive my lack of clarity in writing. If you work a full time job while living at home with your parents for six months after graduating high school, maintaining the same spending patterns as previously you will be able to go back packing for six months, no problem. I know this is true because one of my friends did that except in Europe, which is much more expensive, and another spent a year doing SE Asia, usually on under $20 a day. A gap year is affordable for active who can get a job. If Taco Bell is offering $100K a year for managers the labor market must no decent even for unskilled entry level workers.
kalleboo 7y ago
> At what age should someone be held to a 100k they took out in loans? Are you proposing that we get rid of bankruptcy completely and hold everyone to their loans?
grumple 7y ago
At any age, if you take out any 100k loan, you can discharge it in bankruptcy. Except student loans. Why do we make an exception for the loans being made to the youngest people? I'll tell you: because banks and universities are taking advantage of them.

If your 18, you have the ability to destroy or build up your life. At what age should someone be held to a 100k they took out in loans?

by anoxor 7y ago

If your 18, you have the ability to destroy or build up your life. At what age should someone be held to a 100k they took out in loans?

2ion 7y ago

Perhaps after 1-2 years of mandatory military or civil service. Experiences like that put things into quite a perspective. At least for me, going on to university straight from high school was the most illinformed thing I ever did. Thing is, most people can't afford a gap year.

barry-cotter 7y ago
> Thing is, most people can't afford a gap year. Get a job. There, now you can afford a gap year if you save. Spend six months working all the hours you can get, whether it’s in McDonald’s or something better and if you continue to live like a high school student you can absolutely afford six months in South or Southeast Asia.
- dragonwriter 7y ago
  > Get a job. There, now you can afford a gap year Youth unemployment, even at the lowest it's been in more than 50 years and even with the low labor force participation rate among youth, is still quite high. So “get a job” is far from automatic with desire. > if you continue to live like a high school student you can absolutely afford six months in South or Southeast Asia. But living like a high school student means “fully supported by your parents in their home”, which, if your parents aren't in South or Southeast Asia, you probably can't manage there. Aside from (and because of) that, high school students tend not to have a particularly spartan lifestyle, actually it's often quite profligate, so I'm not sure what you are trying to say here.
  - barry-cotter 7y ago
    In a country where people who can’t speak the majority language and have no legal right to work have little trouble finding a job I doubt there’s much difficulty finding work for most. Forgive my lack of clarity in writing. If you work a full time job while living at home with your parents for six months after graduating high school, maintaining the same spending patterns as previously you will be able to go back packing for six months, no problem. I know this is true because one of my friends did that except in Europe, which is much more expensive, and another spent a year doing SE Asia, usually on under $20 a day. A gap year is affordable for active who can get a job. If Taco Bell is offering $100K a year for managers the labor market must no decent even for unskilled entry level workers.

kalleboo 7y ago

> At what age should someone be held to a 100k they took out in loans? Are you proposing that we get rid of bankruptcy completely and hold everyone to their loans?

grumple 7y ago

At any age, if you take out any 100k loan, you can discharge it in bankruptcy. Except student loans. Why do we make an exception for the loans being made to the youngest people? I'll tell you: because banks and universities are taking advantage of them.