12-30-2015, 11:23 PM
When degrees become status symbols situations like this manifest. Mix that in with someone coming from poverty, where a degree maybe their only way out; student loans become just a necessary option. From what I have seen most 100k + loan borrowers are either those who were on scholarships when the financial crisis occurred about 15 years ago. Where student loans became their only option to complete college/university. Many decided to enroll in schools they could't afford just to say they attended such and such school. Many had parents who lost their jobs, and could no longer afford out of pocket tuition, thus loans became an option. And those who come from lower SES who just took the risk. It's really no different from the people who get homes they can't afford, just to say they live in such and such neighborhood.
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