I’m age 64 so I’ve seen a few things in my life. When I was in my early 20s, never heard of student loans. I have a cousin who when she was 18, got a minimum wage job and put herself through school. She had a high paying job in accounting when she finished school. I was talking to a friend who just retired from the education dept . She had something to do with the accounting / budget. The subject of student loans came up and I told her I was not in favor of them, since you don’t have to pay them back. What she said was not fair is people that applied for loans and was denied them. So why have student loans?
Not pay them back?
Government backed student loans are about the only loan that you will most certainly payback. There’s no bankruptcy and no way out. The gov will garnish your check or SS if they need to in order to get that money back.
The government backs the loans insuring plenty of students with access to money and in return the government schools can charge through the nose.
