For those keeping score at home:
Government intervention in the form of loans and grants hyper-inflated college tuition. Simply put, the more government gravy that became available, the more colleges ramped up the cost of tuition. Statistics clearly bear this out.
The higher the cost of tuition the more students were forced to borrow. Moreover, the ease of borrowing allowed many students to throw in the cost of that cool spring break, new cell phone, maybe an old car, etc.
Now we have a couple of generations of carefree snowflakes who have borrowed to the hilt, and often irresponsibly. They are now drowning in debt with many simply biding their time waiting for Comrade Bernie or Hillary to wave the magic wand and forgive all student loans and hand the cost over to taxpayers.
You say that as if all grads are stupid.
The fact is, the majority of the grads are working and steadily paying off the debt. The debt and easy money parts are true, but the snowflake garbage is garbage. You hear only the few who are whining about it.
For those keeping score at home:
Government intervention in the form of loans and grants hyper-inflated college tuition. Simply put, the more government gravy that became available, the more colleges ramped up the cost of tuition. Statistics clearly bear this out.
The higher the cost of tuition the more students were forced to borrow. Moreover, the ease of borrowing allowed many students to throw in the cost of that cool spring break, new cell phone, maybe an old car, etc.
Now we have a couple of generations of carefree snowflakes who have borrowed to the hilt, and often irresponsibly. They are now drowning in debt with many simply biding their time waiting for Comrade Bernie or Hillary to wave the magic wand and forgive all student loans and hand the cost over to taxpayers.
My lovely daughter-in-law brought nearly $100,000 in debt to the marriage and she had the nice car, cell phone, swank apartment, etc...Now son is pulled into her debt issues.
Add to that fact that they also put their honeymoon on student loan debt. Of course I did not find this out for years...Perhaps they did it because of the competitive interest rates when compared with credit cards; however, I would have postponed the trip to Hawaii if I were them even tho they did get free housing and my gift was airfare....
Point is I absolutely agree with you that their loans are often padded with other expenditures.
Side note, they are both making good money but cannot buy a house due to their debt.