The government and lenders should have some culpability for underwriting a high five figure or low six figure liability on an 18 year old.
IBR and forgiveness is a nice step. That said, tweeting at the president when the government has already solved your problem is silly. No issues with this women being made fun of for it.
The government and lenders should have some culpability for underwriting a high five figure or low six figure liability on an 18 year old.
IBR and forgiveness is a nice step. That said, tweeting at the president when the government has already solved your problem is silly. No issues with this women being made fun of for it.
I do think people overestimate the sophistication and experience of first generation college kids. You get a piece of paper that says, “congratulations your education is fully funded here’s how much money you can get” that lists a couple different loan types and maybe some grants with what that means buried in fine print.
And a lot of people, especially those whose parents did not go to college and maybe don’t have baked in upper middle class financial habits literally do not realize how much of that is a loan, or that they don’t have to (and shouldn’t!) max out the amount of loan they accept. They just see “I can go (or send my baby to) college and it’s taken care of for now!”
Yes, people should take responsibility for their choices. But these government loan programs would be called predatory if they were private and for anything other than college.
The government and lenders should have some culpability for underwriting a high five figure or low six figure liability on an 18 year old.
IBR and forgiveness is a nice step. That said, tweeting at the president when the government has already solved your problem is silly. No issues with this women being made fun of for it.
I do think people overestimate the sophistication and experience of first generation college kids. You get a piece of paper that says, “congratulations your education is fully funded here’s how much money you can get” that lists a couple different loan types and maybe some grants with what that means buried in fine print.
And a lot of people, especially those whose parents did not go to college and maybe don’t have baked in upper middle class financial habits literally do not realize how much of that is a loan, or that they don’t have to (and shouldn’t!) max out the amount of loan they accept. They just see “I can go (or send my baby to) college and it’s taken care of for now!”
Yes, people should take responsibility for their choices. But these government loan programs would be called predatory if they were private and for anything other than college.