I keep hearing that we have a growing student loan debt crisis. Students with overwhelming amounts of debt. I find this to be an interesting problem. I went to college, and borrowed some money to pay for the tuition. It took a while, but I paid my loans off. Was this a crisis for me, not really. Was it a burden at times, of course. Was it such a burden that I would have tried to get the government to intervene on my behalf? The quick answer is no.
The answer is no, not because I came into a windfall, but because I was raised to take care of myself. My college education was a choice. No one forced it on me. I was on a career path that no longer worked for my long term goals, and so I made a decision to further my education. I looked at my options, and what I could afford. Then I made the voluntary choice to sign a promissory note to cover the cost of my choice. I didn't choose the college because my Dad went there, or because they were my favorite team, or because it was the most prestigious place. I made the decision because I could afford it, and it allowed me to earn a 4 year degree from a reputable institution. Was it my least expensive option, not at the time, but it was close enough to where I lived that I could commute. And I could afford it.
The point of this letter is not to brag on my ability to handle my finances, but to express my frustration about a growing population of people that think they can do what they want and someone else will pay for it. We seriously leave our young people at a disadvantage if we allow them to think, and live, as if they have no responsibility for their actions. If you buy a car, there are no loan forgiveness programs. If you purchase a home, you will not have congress debating about the disadvantaged homeowners saddled with overwhelming mortgage debt. But if you voluntarily make an educational decision that costs more than your potential income can cover, it is becoming expected that we bail you out. How about if our schools counselors tell the youngsters they are teaching about the value of researching their educational choices, and making decisions not based on the number of football championships, but based on the value derived from the potential earnings that their choice of curriculum. Basket weaving will earn you a great spot at the local craft fair, but it isn't going to get you into an executives corner office. Make choices that make sense.
Be responsible for your choices, and understand it isn't any one else responsibility to help you pay for your choices. We dont have a student loan problem we have a stupid choice problem. Just my two cents.
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