I wish Student Loans weren't just blindly given out. When I went to get my house mortgage last year, there was a period of scrutiny where they made sure I would be good for it, or at least had a fighting chance of paying it off.
With college, its like: Hey 18 year old. Here's $60,000 for your degree in whatever, free and clear. Regardless of whether that degree will get you a job that generates good income. Oh, and by the way (fine print you can never default on these loans ever)
And at 18 I didn't know what the hell was going on, in any way. Out of convenience I went to community college (not because it was a business savy move), but thank god I did, since it saved a ton of cash, and let me fart around for 2 years trying to figure out what I actually wanted to do and was dirt cheap.
Phoenix, this isn't really intended AT you, but you made a point that I hear a lot: "I was 18, I didn't know!"
But you know enough to:
- Vote
- Buy and own a gun (in some jurisidictions)
- Marry
- Have children
- Join the military
- Buy cold medicine with that shit in it that I forget (but that's locked up behind the counter)
- Buy cigarettes
Why can you do these things? Because you're - allegedly - of sound mind and able to make capable decisions. I don't think people quite realize how much it clashes with a very basic premise of our entire civilization - nope, not being hyperbolic here - to say that "you will be held accountable and responsible for your decisions... except when they don't quite work out like you planned and then you get to go back on them." What happens when that same 18 year old gets a girl pregnant and makes the same claim? "I was 18; I didn't know what the hell was going on, in any way!".
Look, this isn't an absolute; there are things about the student loan biz that needs tweaking. No doubt. I think there could be reforms in terms of interest, in terms of payment plans, in terms of bankruptcies, etc. But to just say "yeah, I meant it then, but not now. Sorry!" isn't really in the best interest of SOCIETY, even if it is in the best interest of that individual.