“Unlimited borrowing for graduate and professional school should be ended.“
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There’s also no restriction on how the money will be spent; spring break in Cancun, bar tabs in sports bars, luxury apartments, on and on. Also, many of these people have no interest in working on the side while in school. Some attend prestigious private schools for soft degrees which provide zero opportunity to repay large loans. “Stupid is as stupid does “....
LOL, guilty as charged. I bought a (used) BMW R650 motorcycle with my student loan my sophomore year. I did however need the transportation, worked 2 side jobs while in school, and paid off the loan in 5 years post-graduation.
20/20 hindsight, would not recommend this path, but I had that bike 20 years and everything worked out.
Someone wrote a pretty good article on the subject of paying it back. Universities would have to forgive the biggest part. Then there’s the ‘students’ and then the government for encouraging these students to continue their gender studies courses. But then why should folks who didn’t go to college and are not in debt be forced to bail out those who spent 4-6 years ‘parking’ themselves on campus? Those Saturday evening cocktail parties allow them to feel superior.
It is unfair for people like us who paid off our student loans to be hit again to pay for those who didn’t.