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The only mistake she's made was marrying a frenchman AND NBA player (all rolled into one) and expecting him to keep his dick in his pants even as hot as she is.
Just a week or two ago there was an article on this.
Because of their high debt these young adults can't qualify for either mortgages or new car loans even with good paying first jobs.
I have a 20-something year old niece with $80K in student loan debt.
IMHO that's worse then CC debt.
It's the contemporary form of indentured servitude.
It's the contemporary form of indentured servitude.
It's worse. ID typically lasted 7 years and you had a guaranteed job.
Imagine graduating with a worthless degree and having to work jobs paying 30k a year.
Now imagine you 100k student loan @5%.
That's >500/month for 30 years....or >1,000/month for 10 years.
That's a lot of years living for free at your parents house with just enough money to afford to eat and commute to work. Oh, and don't get laid off or the interest will bury you.
It's worse. ID typically lasted 7 years and you had a guaranteed job.
Imagine graduating with a worthless degree and having to work jobs paying 30k a year.
Now imagine you 100k student loan @5%.
That's >500/month for 30 years....or >1,000/month for 10 years.
That's a lot of years living for free at your parents house with just enough money to afford to eat and commute to work. Oh, and don't get laid off or the interest will bury you.
Or you could move to Texas or Florida and tell them to kiss off. There's not a bloody thing they can do about it. And credit ratings are just another way for the gov. to get into our affairs and control our behavior.
Just a week or two ago there was an article on this.
Because of their high debt these young adults can't qualify for either mortgages or new car loans even with good paying first jobs.
I have a 20-something year old niece with $80K in student loan debt.
IMHO that's worse then CC debt.
And like credit card debt, it's 100% a choice. Many people, myself included, graduated debt free thanks to working hard in high school and targeting private schools with large endowments that were a step or two down from where we could get in. Slack off in high school and insist on going to a "reach" or even a "match" school, and the debt choice is yours. There are less scholarships for pure masters programs (though one should of course focus efforts on schools that will offer TA positions), but also likely a higher return on investment.
A college education is not an automatic trip down debt lane.
And like credit card debt, it's 100% a choice. Many people, myself included, graduated debt free thanks to working hard in high school and targeting private schools with large endowments that were a step or two down from where we could get in. Slack off in high school and insist on going to a "reach" or even a "match" school, and the debt choice is yours. There are less scholarships for pure masters programs (though one should of course focus efforts on schools that will offer TA positions), but also likely a higher return on investment.
A college education is not an automatic trip down debt lane.
I did the same thing: I went to school for free. But that support was based on high standardized test scores, high grades, and thousands of hours of violin/piano practice. Respecting the art. I teach, and these kids don't seem to care. I present them with some of the most glorious music human beings have ever written, and the students are indifferent. They seem to have no respect for the art, for the composers, or for themselves. They want things which are not "hard." It just annoys the $hit out of me.
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