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Allowing any random 18 year old to sign for a $300,000 unsecured loan is insane. At that age, most people simply can’t calculate the risk they’re taking. At tha
by dimal 5y ago
Allowing any random 18 year old to sign for a $300,000 unsecured loan is insane. At that age, most people simply can’t calculate the risk they’re taking. At that age, you are programmed to think you’re invincible and take unreasonable risks. It’s why we send 18 year olds to war. No one else would take those odds.
- WalterBright 5y agoThey don't get loaned $300,000 in the first year. It gets doled out over 6 years (a Master's program). That's $50,000 per year. At any point they can quit (and only be liable for the debt up to that point), transfer to another school, or change majors. At what point do you consider the person a functional adult and assign some responsibility? > It’s why we send 18 year olds to war. 18 year olds are most likely to survive the rigors of combat. Survival rates drop steadily from 18 on. > No one else would take those odds. Plenty do. The US, for example, has had an all-volunteer army since the 1970's. The Navy and Air Force have always been all-volunteer. My dad volunteered at 23. A lot of volunteers were rejected for being too old.