Debt as money is a failure, but it’s a failure that takes a long time to play out, slowly at first, then accelerating as the “winners” become fewer and the “losers” multiply.
The solution, as for everything else, is Biblical. If you don’t know what that means, you need some more time with the Good Book.
Yeah I’ll pass but thanks for being too lazy to tell us :)
by the way that statement sounds incredibly like pride and if you read the Bible so much you’ll know it’s a sin
Make the people who induced these former students to assume such a looming debt, agree to co-sign for these loans when they are made, or renewed. Universities and colleges everywhere have endowment funds, some of them HUGE. The amount needed for payment of the fees, tuition and related costs of schooling need not be loaned out by the college or university directly, but put up as collateral for the loan when it is first initiated. Then, the institutions of higher learning have a VERY vested interest in assuring that applicants will be prepared for those “high-paying” jobs, and will be readily hired upon graduation. Diploma mills, churning out essentially useless degrees, would quickly revise their curriculum to reflect much more of what the job market demands, or learn to rely on those who want vanity degrees to find means other than student loans to pay for those vanities.
I’m gonna go with “locusts”.