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|User Info||Student Loan 'Forgiveness'?; entered at 2022-05-01 17:30:11|
I dealt with a ton of youngsters who were considering what educational route to take by the hundreds. Parents too. As for the debt debacle, there are few innocents here.
It's not that they didn't understand compound interest (they didn't, but it would not have mattered anyway), it's not that they thought they were going to make millions (they didn't do that either, it's "not about the money"). Mostly they simply wanted something fun and exciting NOW and pay later. In the before times, no bank would loan a kid money for nearly anything, so you (and I) could not financially strangle ourselves.
That changed with the gov backstopping the loans. When calls were made to get the gov out, the hue and cry was "what about the minorities who cannot go!?" and some such. So the gov gave it to them. It's what they demanded.
And when you ask a typical lazy progressive (most worthless degrees fit those types) how much they think they will make, or is the degree worth it....it's "do what I love, money will follow". They wanted the glamorous, out-of-state, soft, lazy and easy majors. I have a relative now going to "art school" which costs $25K a year, pure insanity. But consequences be damned. It's what they want to do, not what they need to do. THAT is the problem.
But it's not just those getting worthless degrees. I distinctly recall talking to one young lady who was majoring in nursing, a good-paying field. Now you know you can go to a local community college and get a two-year degree while living at home, then get a job, and have your employer pay for your last two WHILE GETTING PAID. That is what I told her to do.
But instead of that, this girl went to Duke (private and VERY expensive) because.....wait for it....they offered her a trip to work with kids in Africa as a study abroad semester. Think of the selfies and Facebook posts!!!
She KNEW she was going 6 figs in debt when instead of making money while learning, and graduating debt free. She knew this debt was huge, she knew it would compound. She did it anyway.
Have no sympathy for these "kids". This "crisis" has been over 15 years in the making, and they knew it back then. They just didn't care. I saw it time and again. And I still do. Anyone you know majoring in sociology, poli sci, and so forth is a lazy child with shitty breeders who did not explain life to them. Simply looking for an extension of high school, this time with more dope and booze and spring breaks to Cancun. College today is mostly adult daycare. On our dime.