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Student loans should be at 1-3%...not the current 6-8% or more....Also lenders need to be more flexible with their terms...why not let all borrowers pay back over 30 years...
Dave Ramsey works for the banks.....he declared bankruptcy himself but tell others not too..
Student loans should be at 1-3%...not the current 6-8% or more....Also lenders need to be more flexible with their terms...why not let all borrowers pay back over 30 years...
Well, that explains what happened to your book learn en money....I bought a few guns with some of my student loan money...
From what's on the article, it doesn't look like he planned not to pay back the loans when he took them. Not excusing the guy, but this is another problem of the current system, where teenagers have to make serious financial decisions that will affect them for the next 30 or so years of their lives, and if goes wrong (their field becomes irrelevant, outsourcing/technology kills their jobs, etc), not even a bankruptcy will kill it.
It's just very odd to me that you would put young people in that kind of situation, and I can completely see how the scenario the OP describes could unfold with idealistic people, or people that simply understand that you only live once.
I should note I grew up in a very different system, where credit wasn't available, but education, including college, was free (public anyways, you could always go to a private school if you could afford it).
"not even a bankruptcy will kill it."
and yet again, Thanks, Repugs!
Live within your means, tbh
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