Democrats love illiteracy. Why do you think they imposed laws that made it illegal to teach slaves to read?
You sign on the dotted line, you abide by the contract. There is nothing obscured here.
They intend to be winning future elections with loan forgiveness proposals.
I'm starting to regret sending my son to college without taking out any loans. Between my savings and his scholarship he came out debt free. I should have just banked the money for him and let him default so he could have a seat on the soon to arrive gravytrain.
I don’t think this problem can be laid entirely at the feet of financial illiteracy. I think it is more a product of emotion winning out over reason. Not that people are financially literate, but even if they were, they would fall for the same old pitch that leads so many to ‘care’ more than think, to vote with their heart not their mind.
Math has nothing to do with it. When I signed on the dotted line in the early ‘80s, interest rates were 9%, though on a much smaller nugget.
Many, if not most, college bound students, ESPECIALLY those with decent grades or scores and positive reinfoecement from peers and family, irrational exuberance sets in regarding future earnings potential.
This tendency is stronger in those attending elite or selective high priced private universities, and the choice of major has little influence on it.
“Wait...Obama promised me free s—t.”