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But it's really hard for me to feel bad about people who end up with a massive amount of school loans. There are plenty of state school options available. Work

But it's really hard for me to feel bad about people who end up with a massive amount of school loans. There are plenty of state school options available. Work moderately hard in high school and you'll get a massive discount on college, too. Would it be great if it were free? Absolutely. But it isn't. And that shouldn't be an excuse for ending up with a massive loan afterwards. I hear you, and you're absolutely right. So many people with massive student loans would be better off had they made better decisions. But why didn't they? Why has student loan debt massively exploded to $1.6 trillion? To me it seems obvious that there are systemic incentives and disincentives at play that are actively making it more difficult for people to make good decisions in these areas, not a sudden rash of people being born or raised with inferior character or intellect to the generations that came before.

thelean12 6y ago
I'm not sure. Maybe lack of funding for high schools and below? Maybe peer pressure? Probably a combination of a few reasons. I don't think there's a fundamental lack of ability for high schoolers to understand long term financial consequences. Making college free would certainly "fix" this issue, and would be great for non-financial reasons, but it seems like a bandaid to the whole financial intelligence thing that will just push the issues down the line. It's not like once you become an adult you automatically become more financially intelligent (see: 2008, massive car loans, etc). I truly believe better or more focused high school education would help a ton.
- ryanwaggoner 6y ago
  I feel like you're making my point for me. Whatever the reason, it seems pretty clear that we as a society have made it more difficult for these kids to make good decisions, maybe just by virtue of the lack of education on how to do so. Chalking their collective indebtedness up to a lack of personal responsibility and a moral failing on their part is just lazy.

thelean12 6y ago

I'm not sure. Maybe lack of funding for high schools and below? Maybe peer pressure? Probably a combination of a few reasons. I don't think there's a fundamental lack of ability for high schoolers to understand long term financial consequences. Making college free would certainly "fix" this issue, and would be great for non-financial reasons, but it seems like a bandaid to the whole financial intelligence thing that will just push the issues down the line. It's not like once you become an adult you automatically become more financially intelligent (see: 2008, massive car loans, etc). I truly believe better or more focused high school education would help a ton.

ryanwaggoner 6y ago
I feel like you're making my point for me. Whatever the reason, it seems pretty clear that we as a society have made it more difficult for these kids to make good decisions, maybe just by virtue of the lack of education on how to do so. Chalking their collective indebtedness up to a lack of personal responsibility and a moral failing on their part is just lazy.