This is going to impact our economy in a BIG way. These up and coming CONSUMERS don’t have two nickles to rub together while crashing in Mom & Dad’s basement. They are never going to own anything of more substance than the latest i-phone or tablet, and none of them are going to be able to earn enough to support the MILLIONS on SS and Welfare.
We truly have done a disservice to the youth of our Nation.
It’s going to cave in, completely; totally unsustainable.
There will be no inheritance to bail out the kids: Mom & Dad have been talking with The Fonz about a reverse mortgage.
Sheesh...such pessimism. Our last of three graduated a year ago. All have excellent well-paying careers established. Two of them bought low-mileage used cars in the past few months. They bought affordable, utilitarian small SUVs, not flashy high-dollar cars. We’ve taught them to be thrifty, frugal and not live beyond their means. They all graduated with very modest student loans that will be paid off shortly. Most of their friends are in similar situations, too.
Truth be told, everyone was hearing nightmare stories long before this became a regular issue on the newspapers. I decided a long time ago not to take out a loan and while I don’t have my degree, I do have the ability to say I’m debt free and that alone is worth not having that piece of paper/
I run my own business (not much to show for it, but I had a late start, rough road to be blunt) and I have a roof over my head and food in my tummy and unbelievable connections. I have my own thing going and with luck, I’ll be able to end up getting a good payoff in the near future and be completely secure.
So look, there are a lot of idiots who aren’t learning from the mistakes of others, and should apparently learn it themselves. It’s been common knowledge that major name universities costs obscene amounts and instead of going to a community college or perhaps getting a real education and not a degree in Stuffed Animals and spending the majority of the time partying or participating in some self created ‘revolution.’
For all the liberality of the professors, these universities do have enviable libraries and research facilities and it’s a gold mine for anyone who wants to really learn and work on independent study and projects and then be able to end up with the well stocked resume to really get a good job, showing that you have both education and experience.
I daresay that if I end up going to one of these places, I will be building experience for myself, not partying and participating in the 60’s revival protests that infect our campuses.