USA
, as country, produces College Graduates, who are literally bonded labour, on account of their student debt.
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yea.... i look at houses for sale religiously. then i remember im over 100k in student loans and will be paying ~1000USD a month for.......
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also... the cost of tuition has gone up exponentially, especially because the govt guarantees student loans. so we all go into debt to pay for education... tuition keeps going up because.... you can always get a federally guaranteed loan...
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9 more years of payments? Whoa!
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i think mine is more like 30 yrs :o(
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And if it were treated like any other debt, subject to discharge in bankruptcy, it would not have got so out of hand.
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Also if rich d-bags didn’t drive up housing costs by buying up all the vacant homes so they can rent them out that’d be pretty great too.
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I’m a primary care MD. In 12yrs I’ve paid $190k on SLs, including $40k early, & still owe $160k+. Yes, I could’ve bought a home I can pay my SLs b/c I went to state schools, live in a low cost area, have 30 yrs to pay & work 2500+hrs/yr Many can’t afford to pay
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Exactly, your debt and COL appropriately matches your risk threshold. Most Americans do not make or are unable to create that same scenario. It's why banks are so damn wealthy right?
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Older folks like me, 70, didn't have every expensive gadget by high school and didn’t attend classes without working full time, nor did we achieve the dream to buy a house until we were over 40. Yes the debt is horrendous, so why consider piling on more debt?
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Your purchasing power was WAYYY higher than it is today, you could pay for school with a part time job. You can't blame the kids who have "every gadget" - that's a really baseless argument intimating that they can pay off that 200k college loan by not having the latest iPhone.
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That doesn’t seem like some troll spam you copy-paste on random
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True! I've been trying to buy a house to retire in but my back-end debt is too high due to student loans I'll never pay off in my lifetime. I can afford a home just fine, but that back-end debt rule screws me out of ownership.
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My granddaughter may never be out of debt because of loans thanks to our colleges becoming big business
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There will be a price to be paid for an education system based on greed.
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Student debt is an investment! Not all investments pay back. Students need to invest wisely. Poor investment (wrong degree) is not anyone’s fault except student and possibly parents for giving poor advice. Think before you invest!!!!
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Please do more reading and research.
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