4 ms·

Can they even really consent to lifelong debt at that age?

Ekaros 3y ago
Also how come they can be drafted or sing up for military service. Shouldn't we put stop to that and set minimum age to much higher level let's say 25 or 30? It can be similar lifelong mistake.
Eumenes 3y ago
I do believe they can consent. K-12 could do way better teaching financial literacy.
SideQuark 3y ago
Four year college stats: over 40% of students don't have loans. Of the remaining under 60%, mean debt is ~$30k and median debt is ~$20k of low interest loans. Average lifetime income gain is well over $1m. That's not lifelong debt. Most people buy houses that are many multiples of this, cats that are similar to this, and many other items with far less benefit. Calling this lifelong debt is nonsense and fringe outcomes at best.
- red-iron-pine 3y ago
  source me, cuz I don't believe that. and if true, I'm keen to see how -- I bet heavy enrollment in community colleges and dubious for-profit online schools may skew the numbers.
  - SideQuark 3y ago
    Google college loan stats. Dozens of places to read, for example, [1,2,3]. All on the first few links. > I bet heavy enrollment in community colleges and dubious for-profit online schools may skew the numbers. When you have beliefs that are not formed by looking at well sourced data, but are made from anecdotes, then it's hard for you to believe actual data. Spend some time looking up proper sourced data, then claim disbelief. Or simply type a few words into google and read a few things. [1] https://www.forbes.com/advisor/student-loans/average-student-loan-debt-statistics/ https://www.forbes.com/advisor/student-loans/average-student... [2] https://educationdata.org/student-loan-debt-statistics https://educationdata.org/student-loan-debt-statistics [3] https://www.lendingtree.com/student/student-loan-debt-statistics/ https://www.lendingtree.com/student/student-loan-debt-statis...

Also how come they can be drafted or sing up for military service. Shouldn't we put stop to that and set minimum age to much higher level let's say 25 or 30? It can be similar lifelong mistake.

Eumenes 3y ago

I do believe they can consent. K-12 could do way better teaching financial literacy.

SideQuark 3y ago

Four year college stats: over 40% of students don't have loans. Of the remaining under 60%, mean debt is ~$30k and median debt is ~$20k of low interest loans. Average lifetime income gain is well over $1m. That's not lifelong debt. Most people buy houses that are many multiples of this, cats that are similar to this, and many other items with far less benefit. Calling this lifelong debt is nonsense and fringe outcomes at best.

red-iron-pine 3y ago
source me, cuz I don't believe that. and if true, I'm keen to see how -- I bet heavy enrollment in community colleges and dubious for-profit online schools may skew the numbers.
- SideQuark 3y ago
  Google college loan stats. Dozens of places to read, for example, [1,2,3]. All on the first few links. > I bet heavy enrollment in community colleges and dubious for-profit online schools may skew the numbers. When you have beliefs that are not formed by looking at well sourced data, but are made from anecdotes, then it's hard for you to believe actual data. Spend some time looking up proper sourced data, then claim disbelief. Or simply type a few words into google and read a few things. [1] https://www.forbes.com/advisor/student-loans/average-student-loan-debt-statistics/ https://www.forbes.com/advisor/student-loans/average-student... [2] https://educationdata.org/student-loan-debt-statistics https://educationdata.org/student-loan-debt-statistics [3] https://www.lendingtree.com/student/student-loan-debt-statistics/ https://www.lendingtree.com/student/student-loan-debt-statis...