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Personal Finances / Living Below Your Means


Subject:  Re: Don't do this.... Date:  2/25/2014  11:34 AM
Author:  vkg Number:  880425 of 896141

And that would have been a loss for rural health care. Loans are useful if taken thoughtfully.

Yes, and average student loans are equivalent to the cost of a car.

I can understand high loans for a medical degree. What there doesn't seem to be is a limit for are those who have not prospects for paying off the loans. A coworkers kid has 6 figures in loans from attending a ivy league school completely on loans, and then failed to qualify to even apply to their "dream" law school. The kid has refused to listen to their brother and parents about taking on too much debt. Some time reality will come knocking. Loan payments have started, which can't be easy with the current salary. Both parents are non-technical and don't have high enough income to help.
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