Talking with a friend, his daughter will have $45,000 in student loans this year when she graduates. He was complaining about the high cost and I will say it does cost a lot.
But, what he doesn't know is that his daughter has gone to spring break every year and used loan money to pay for it. The least amount that she has spent for spring break is $3500. THAT IS THE LEAST!!
Now, I am not saying that they should not have some fun...bet let's be real. As an adult, I don't spend $3500 or more on a vacation where I have to put it all on credit.
I have heard of some people saying that many of the loans should be forgiven. I don't agree at all. But there are some ways to cut down on debt at graduation.
One is when a student gets a loan...they don't get the money! They get a card, like a credit card with the money and it can only be spent for learning needs.
Books, rent, food PLAN! Lap top. ect.
Not spring Break, parties, booze and dates.
If student loans we controlled more...the debt at graduation would be far less for most than it is now and tax payers would not be footing such a large bill!
Remember, most of these young adults hardly know how to handle a check book let alone Thousands of dollars at their disposal all at one time.
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