Posted on 03/09/2017 6:19:18 AM PST by C19fan
That’s how much they either understand that debt, or how much they believe some politician will forgive all their debt for a vote.
I had an "ah-ha" moment when I was in college around the same time frame.
Silly me, I believed that those student loan papers meant that my college expenses would be scrutinized if I used it for anything but tuition and books. I forget the exact words used, but the administrator asked if the paltry amount I was approving was enough, and "was I sure that I didn't need more?"
It occurred to me then, I could've asked for a lot more--really to be spent however I liked. I'm sure that loans were abused then, and probably more so now. I'm glad that I didn't succumb to that artificial income then--I could have gone a little crazy--I could've used a newer car; I wished I could've lived in a upgraded bachelor pad. Instead, I graduated, and paid off all my loans inside of 2-3 years.
Just as I tell my nearly college-aged daughter today--we are very fortunate as a family; we've been able to save a good portion of her financial needs when she's in college, but that doesn't mean she won't have to make sacrifices. We're not lavishing her with lots of electronic gadgets, designer clothing, vacations, etc. We reminded her also, not that she has a bent for them, but we're not financing tattoos, multiple piercings, or other "fashion" statements. She can, and will need to work for those things if she wants them.
Back when Jimmy Carter had us living under double-digit interest rates the counselor at my high school actually suggested to my dad that we take out the max student loan (interest was 7% at the time) whether he needed to or not.
Then suggested he put that in a money market which I believe was paying 12%. Said everybody was doing it.
My dad was shocked and horrified.
Of course they are. And better cars, apartments, parties, clothes, dining and so many things they couldn’t afford if they had to work to pay or work and save for school. Some debt is understandable but there is a real tendency to teach students they can live above their means so easily. Why not?! Parents many not be any better examples.
http://www.freerepublic.com/focus/f-news/3530412/posts
“Half Of America’s College Students Believe The Federal Government Will Forgive Their Loans”
You’re exactly right, not even being . There is no way those loans should be forgiven. The losers who are majoring in nothing and partying for four years need to own the debt they are running up, even if they never own anything else for the rest of their lives.
Yeah, nothing new here. I’d heard plenty of them brag about saving enough of their loan to buy shoes/clothes and hold parties. I am sure others did similar things too. (Luckily I never did student loans)
Most folks believe the money is only used for education expenses, ...LOL!”
Seems kind of like the things people use EBT cash for. Trips and booze instead of groceries and utility bills. When you don’t have to work for what you receive, attitude of what you spend it on is a lot different.
Cool. My youngest son just became the first in our state to earn the pinnacle award for Trail Life USA, the Freedom Award. It’s actually more difficult to earn than Eagle
Yes, that’s why in our town we see all these huge new apartment complexes around campus - it pays to cater to students who have no budget limitations. Pool, luxury kitchens, sure come on over!
The problem is the people who are loaning them the money without holding them accountable for using it to get employable skills.
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