When I took out student loans, the rate was 7%. So, I basically don’t give a Shiite.
Staggering student loan debt could be very well be the next big financial ticking time bomb to hit the country.
When I was a college student, I avoided massive debt by:
Selecting a university I could afford.
Living at home and commuting to school.
Working two part time jobs.
Avoiding fraternities and excessive partying.
I still think many students could avoid massive student debt by doing what I did to get through college.
But....we are now living in the age of entitlement....obamanation.
My daughter is starting college this fall. We didn’t qualify for any subsidized loans, so she will be paying 6.8% anyway for her part of it.
going to college has always been an economic decision. How much will I spend (and how much will I not be earning) while attending college. How much will I earn after college. Do the math, make decision. I have no empathy at all for someone racking up huge debt in college. That was a personal decision - live with the consequences.
Why would you ever need to subsidize a ‘good’?