I hold the greedy universities and the even greedier government partially responsible. They promote these loans. No university or fed counseling suggest NOT getting a loan, getting a smaller loan, working your way through school, or starting at community college. I have a friend whose daughter-in-law, a very smart girl, was astounded at the loan she amassed for grad school. She financed EVERYTHING. They offered her loan for not just for tuition, but for food, rent, everything, and she took it.
I think the government taking over loans and pushing them along with the notion that everyone should have a college education has caused this problem. Shame on them. The government acts as the largest and greediest corporation on earth, and they never have to watch their bottom line or turn a profit. Hate corporations, Bernie-bots? Look to the fed government as the biggest and worst.
.....”I hold the greedy universities and the even greedier government partially responsible. They promote these loans”....
Nonesense...Banks and lending institutes also ‘promot loans’, car dealers and real estate people as well and nobody forces them to borrow.... Further it’s the parents responsibility to suggest to their kids all you spoke of....and the gal you mentioned obviously wasn’t all that bright if she failed to inquire further than the package they offered...and I doubt that was her only choice.
Students who want a college education have many avenues to go about otaining it...so I don’t buy that it’s anyones responsibility to pay off their loan but themselves and negotiating the best deal they can afford......if they can’t afford it then they can work and take classes as they can afford it...many have done so.
I just won’t buy into the idea kids are entitled to make tax payers or anyone else for their education.....and the fact there are so many drop outs attest to the idea a lot of them don’t want to do the hard work to obtain a degree.