Quote:
Originally Posted by plutnicki
I would say the big difference is that no bank will give an 18 year old with no job a mortgage, or a loan for a $100k car, and yet they can get financed to get a $150k loan to become a teacher making $30 - $40k/year or worse. It just doesn't make sense to me.
I don't believe in forgiveness either, but going through this process with my youngest (luckily he won't need loans), I can see how poorly the process is managed and how poorly the kids are counseled. I can see how kids get taken advantage of, particularly if they don't have strong support, which not all do.
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Keep in mind you can sign for a loan at 17 as well. I have no debt but I’m not opposed to some forgiveness.
But really the lending is the problem. We need to stop handing out money so easily and letting educational institutions get greedy and bloated with useless staff. It’s absurd how much universities charge these days because they know there’s just easy money flying around