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It is amazing the number of comments that talk about the problems of defaulting on loans and then place the blame in all sorts of places other than the people d

It is amazing the number of comments that talk about the problems of defaulting on loans and then place the blame in all sorts of places other than the people defaulting on loans. Unless you were forced at gun point to sign loan papers (or other scandalous things transpired), there isn't a lot that can convince me you are not solely responsible for your loan. I don't care if it is for an education, a house, a car or a new pair of sneakers... if you accepted money with the condition that you would pay it back, you are responsible for paying it back or suffer the consequences of not paying it back. In some cases, the consequences of not paying it back might be better than what would happen if you did pay it back (like starving to death because you can't afford to eat. or freezing to death because you can't pay for a place to live). I'm not saying that people don't find themselves in financial hard times and some times only have really horrible options to choose from. But some times I feel like people start out with default as an actual option in their minds. Like it is no big thing... just Plan B. It very much is a big thing and should be your Plan Z!

acjohnson55 13y ago
I've never heard of anyone who planned on defaulting on their student loans. Most people go to school hoping to end up upwardly bound in a fulfilling and financially rewarding career, drawn in by stories highly slanted with survivor bias. Many end up in dead-end jobs or underemployed. They don't know anything about who they're competing with in these fields or what these employers want. Kids sign these papers barely 18 years old that will quite likely set them in a gigantic financial hole for their foreseeable adult lives. Not to mention the fact that much of this debt is held by people who had no major reason to believe that the economy would drop from underneath their feet. And what's the viable alternative? Not going to college? The survivor's bias for people who that's worked out for is even worse! Sure, people willingly sign these loan papers, but we should also be honest about the level of agency and information the average aspiring adult has.
kalleboo 13y ago
Because simply blaming it on the people signing the loans isn't productive, it's just a statement of the status-quo with no solutions (shaming people isn't going to change anything).
- dominotw 13y ago
  >shaming people isn't going to change anything Wouldn't it dissuade people from taking $50,000 loan for a communications degree?
- jack-r-abbit 13y ago
  Blaming it on the people signing the loans is productive if it makes people see they need to cover their debts. Nobody said anything about shaming anyone. The only shameful thing is trying to blame others and not taking responsibility for your decisions.

acjohnson55 13y ago

I've never heard of anyone who planned on defaulting on their student loans. Most people go to school hoping to end up upwardly bound in a fulfilling and financially rewarding career, drawn in by stories highly slanted with survivor bias. Many end up in dead-end jobs or underemployed. They don't know anything about who they're competing with in these fields or what these employers want. Kids sign these papers barely 18 years old that will quite likely set them in a gigantic financial hole for their foreseeable adult lives. Not to mention the fact that much of this debt is held by people who had no major reason to believe that the economy would drop from underneath their feet. And what's the viable alternative? Not going to college? The survivor's bias for people who that's worked out for is even worse! Sure, people willingly sign these loan papers, but we should also be honest about the level of agency and information the average aspiring adult has.

kalleboo 13y ago

Because simply blaming it on the people signing the loans isn't productive, it's just a statement of the status-quo with no solutions (shaming people isn't going to change anything).

dominotw 13y ago
>shaming people isn't going to change anything Wouldn't it dissuade people from taking $50,000 loan for a communications degree?
jack-r-abbit 13y ago
Blaming it on the people signing the loans is productive if it makes people see they need to cover their debts. Nobody said anything about shaming anyone. The only shameful thing is trying to blame others and not taking responsibility for your decisions.