Guilt and Student Debt

[Chuckanut]

I) By the way, my parents didn't pay for my college. My "Uncle Sam" did.

A now deceased friend had Uncle Sam pay for his medical schooling to become an M.D. He paid his uncle back by spending four years as a Navy doctor in a 'boomer', under water for weeks at a time. Then two more years as a family doctor on an Indian reservation.

 

[imoldernu]

Stop for a minute... and consider the banks.

Think... think... think...

If the banks make student loans, or housing loans... and these loans are in default... they are part of the bank assets.

If the bank passed off those bad housing loans to Freddie or Fannie, they are part of your debt.

If history is any predictor of the future, Three hundred billion dollars of the education loan default will end up in more public debt... maybe Eddie and Edie... for the government EDucation bailout trust.

Know that some of us who don't pay taxes, appreciate your forebearance.

 

[Hermit]

Know that some of us who don't pay taxes, appreciate your forebearance.

You are certainly welcome. (I would always be willing to help a friend.)

 

[Dog]

I earned my business degree while working full time and leveraged the company tuition aid program. It also helped to cover the cost of books (another scam as mentioned above). I had been working for 10+ years and it took me about six years to earn my degree. However, that time and work experience provided me insight into pursuing a degree that fit my skill and aptitude as well as employability. No debt incurred.
I have several neices and nephews that went straight to university and earned degrees that did not offer decent job prospects but were interesting and relatively easy to earn. One is going to go back to earn a masters degree and rack up more debt. Another has an entry level office job.
Sometimes telling our kids "they can be anything they want to be" may not be the best advice. At 18 or 19 years old - how do you really know what you want to do or be when you grow up?

 

[Independent]

Sometimes telling our kids "they can be anything they want to be" may not be the best advice. At 18 or 19 years old - how do you really know what you want to do or be when you grow up?

+1

It always bugs me to see the Olympic gold medal winner on TV, who just beat million-to-one odds against winning, say something like "This proves your dreams can really come true".

When kids are ten or younger, it's fine to ask "What do you want to be when you grow up?" After that, it's time to switch to "How to you plan to support yourself when you grow up?"