07-16-2023, 09:47 PM
(07-16-2023, 06:39 PM)Housh Wrote: The convo isn’t about simply getting your loans paid for free
The reason this is even a convo is because the predatory nature of the loans that were taken out and how these loan companies knew beforehand that 90% of the ppl taking out loans were in fields that would never allow them to pay the loans off.
For future generations college loans should be federally mandated to not incur interest. If you take out 20k you should owe 20k. Student loans also should be some of the most forgiving loans out there. If you call your loan provider and tell them you want to skip payments for 4 months you should be able to. I also think they should mandate you sit down with a financial expert and a labor force expert who teaches you how much your degree track makes in the real world.
The issue with student loans is companies just gave them to you and because you don’t need credit to get these loans, alot of young ppl took these loans with no knowledge about money.
Let’s use a hypothetical example of zip lining.
Let’s say you have free roam access to a 1 acre zip line course for 2 hours. But the company doesn’t teach you how to use the equipment or anything. So you spend an hour just figuring out how to zipline. You’d feel like you were preyed on right? I think that’s where we are with these loans. You can obviously say ppl should’ve researched before taking the loans but that’s just not realistic. Some ppl come from the absolute gutter and college was pegged as the only way out.
I think it’s about empathy
I feel like at some point it all just became payola for universities. It's profitable to tell every high school kid in the country that they need a degree to get anywhere in life, then be the entity that provides said degree. It's even more profitable when the government will write checks to people with practically zero credit or financial education for large amounts of money to be forked over directly to you. You know what you do then? You raise tuition and go swimming in your government-funded money bin. The kids don't know enough to care whether their entry level 60k a year job (if they are lucky) will be enough to pay for loans and the cost of living, and it likely will be close.
Hopefully kids are starting to get the message that college isn't the guaranteed career path that it was once promoted as. It sounds absolutely insane, but from a profitability standpoint, you'd be better off making a complete moron out of yourself on Youtube than you would studying hard and incurring debt at school.
