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Their parents, society, etc. I won't convince you because you've got your anecdotes. Though I'd say if a public school counselor, parents and teachers all tell

Their parents, society, etc. I won't convince you because you've got your anecdotes. Though I'd say if a public school counselor, parents and teachers all tell a 17 year old it's "college or bust", it's laughable to argue "ah, those teenagers should have been rational, informed consumers of professional training and eschewed the advice of every trusted adult in their life".

c_crank 3y ago
It does not take professional training to see the price tag of a student loan and to question if one can reasonably pay it off in the future. Certainly, someone equipped with the skills needed to be accepted into a college that costs so much should be able to do the math required on that calculation.
- unethical_ban 3y ago
  I disagree.
- kjkjadksj 3y ago
  Covering compound interest isnt even a requirement in high school
  - c_crank 3y ago
    Compound interest shouldn't be the primary factor in rejecting a four to five digit loan when you have low or zero income.
    - Sohcahtoa82 3y ago
      > four to five digit loan Bro, when did you last look at the cost of college, the 70s? I went to a community college and then transferred to a state college that was also in my town, so I didn't have to pay absurd dorm expenses. I worked 30-35 hours a week while going to college. I still came out with ~$45K in loan debt. And you're proposing even the possibility of a four-digit loan? > when you have low or zero income. Have you missed the part where adults are lying to children and telling them that the high salary their degree will earn them will pay for the loan?
      - c_crank 3y ago
        I think a four digit loan is already on the high end when one also needs to get a car, find a place to live and to rent, with no savings. You arguing that it is consistently much higher makes my case against taking loans stronger, not weaker. >Have you missed the part where adults are lying to children and telling them that the high salary their degree will earn them will pay for the loan? Lying to teenagers who should, at some point, use their own judgment. You signed a paper for the loans, yes? Were you able to calculate that it would equal 45K or more of debt? How did you, yourself, think that you would manage to climb out of that debt with a job that you did not have, and would only have a chance of getting four years after graduating?
- ericjmorey 3y ago
  The point is that the majority did question it. It's a very uncertain proposition which is why they sought after the advice of people they trust with more life experiences and knowledge.
- thatguy0900 3y ago
  I think the fact that student loans can't be discharged in bankruptcy is a nod to the fact that everyone involved knows that the people taking them are largely uneducated about what they are.
bombcar 3y ago
If you change "sell yourself into loan slavery for 30 years" with "create pornography" or "drink alcohol" or "enlist for war" or "buy guns" or "any number of age restricted things" suddenly everyone is all up in arms about how the 17 year old cannot be trusted to make an informed decision. But when it's in the service of the finance industry - bam; all gone!

c_crank 3y ago

It does not take professional training to see the price tag of a student loan and to question if one can reasonably pay it off in the future. Certainly, someone equipped with the skills needed to be accepted into a college that costs so much should be able to do the math required on that calculation.

unethical_ban 3y ago
I disagree.
kjkjadksj 3y ago
Covering compound interest isnt even a requirement in high school
- c_crank 3y ago
  Compound interest shouldn't be the primary factor in rejecting a four to five digit loan when you have low or zero income.
  - Sohcahtoa82 3y ago
    > four to five digit loan Bro, when did you last look at the cost of college, the 70s? I went to a community college and then transferred to a state college that was also in my town, so I didn't have to pay absurd dorm expenses. I worked 30-35 hours a week while going to college. I still came out with ~$45K in loan debt. And you're proposing even the possibility of a four-digit loan? > when you have low or zero income. Have you missed the part where adults are lying to children and telling them that the high salary their degree will earn them will pay for the loan?
    - c_crank 3y ago
      I think a four digit loan is already on the high end when one also needs to get a car, find a place to live and to rent, with no savings. You arguing that it is consistently much higher makes my case against taking loans stronger, not weaker. >Have you missed the part where adults are lying to children and telling them that the high salary their degree will earn them will pay for the loan? Lying to teenagers who should, at some point, use their own judgment. You signed a paper for the loans, yes? Were you able to calculate that it would equal 45K or more of debt? How did you, yourself, think that you would manage to climb out of that debt with a job that you did not have, and would only have a chance of getting four years after graduating?
ericjmorey 3y ago
The point is that the majority did question it. It's a very uncertain proposition which is why they sought after the advice of people they trust with more life experiences and knowledge.
thatguy0900 3y ago
I think the fact that student loans can't be discharged in bankruptcy is a nod to the fact that everyone involved knows that the people taking them are largely uneducated about what they are.

bombcar 3y ago

If you change "sell yourself into loan slavery for 30 years" with "create pornography" or "drink alcohol" or "enlist for war" or "buy guns" or "any number of age restricted things" suddenly everyone is all up in arms about how the 17 year old cannot be trusted to make an informed decision. But when it's in the service of the finance industry - bam; all gone!