Once more, My Show of Appreciation for helping me avoid this

[sanantone]

It is tempting to say, "they should know better," but I try to remember we are talking about college aged kids. Many have never dealt with debt before so the reality of it doesn't register like it does with us old timers. At that age, I was in the military running up debt like there was no tomorrow. Combine the immaturity with colleges that are telling them cost shouldn't be a factor in their decision and you end up with young adults with a lifetime of debt.

True. That is why some high schools are now offering personal finance courses that include material on financing college.

[videogamesrock]

So true. I knew several people who would borrow way more than they needed and would use it for certain living "expenses", like a car, or fraudulently, like one poster on here stated, so he/she can buy investment real estate. I took out a loan one time. I needed $2,000, I was offered $6,000. I took the $2,000 and even that I regreted.

Slum lord millionaire.

[ShotoJuku]

...I am just tired of people who think "the Government" owes them...

Welcome to the USE - United States of Entitlement! :leaving:

[UptonSinclair]

Welcome to the USE - United States of Entitlement! :leaving:

I just puked a little in my mouth. If I can pay money for the government to murder people I have never met, I am certainly not going to complain about paying money to education young adults.

[EI2HCB]

There is an old Hebrew proverb that says "The borrower is slave to the lender" in this woman's situation she has certainly been a slave to her loan company. You can be bankrupt and have all your loans forgiven except for Student loans. Education is an investment in oneself, yet soundbites like "cost shouldn't be a factor" "you deserve the best" and so on entice people into signing way tomorrows earnings in order to secure an education today. Inaction either through inability or laziness means that for 23 years this Lady has made payments to instead of Liberty implied by the American dream. It is a pity that such issues exist, what is the solution? forgive those who can't pay (free education for them) or legislate to freeze the interest after a certain period when payments equal the original loan balance. These loans are generally going to get paid by the government eventually which is why they aren't forgiven through bankruptcy as the nation is the guarantor of the loan and wants to wait it out before paying the loan company.

Such images do one of two things they warn us of the perils of debt which should be avoided or they engender a view that our nation is unjust in allowing extortion to continue in such forms. Most of us here will choose the Liberty of Education without the shackles of debt while others ignore the warnings and find themselves in this type of situation. Should loan companies be legally able to extort such vast sums in Interest for such a long period, if we say no we limit free enterprise but by allowing such practices to continue we allow a form of slavery to exist perpetually. This is one reason why I try and tell everyone about the alternatives although most people aren't resourceful enough to even consider the possibility of other forms. This demonstrates that those who follow this path are more resourceful and open minded than others who enslave themselves in debt in order to secure a better life through education.