Home Economy More than half of the older generation of young people who are...

More than half of the older generation of young people who are indebted to students say their loans are not worth it:


They are old enough to realize that college is to gain a skill that they can give the world in exchange for money. When you’re 18, it’s about personal satisfaction and preference.

That’s a problem with lending an 18-year-old $ 100k to school. They are purely adults and can sign any other type of contract (including enlistment), so you can’t really hold their age against them. You also cannot refuse to lend them because you want the poor to have access to education and opportunities. If you limit them to the areas that are marketable, you will invite classism and an army of universities lobbying and trying to get their programs approved for sale. OK. If you limit them to community colleges or state colleges (at a cost), you will get claims of classism. If you limit them to a reasonable amount, you will get the same.

Or you do what we do now and treat them like competent adults knowing that many people will make irresponsible decisions and trap themselves for paying back $ 100k in debt. Learn freelance arts with a 25,000 dollar social skills. You can let them go bankrupt on their loans – like every other lender would have worried about – but then the defaults will soar and interest rates will rise proportionally with the risk.

It is a problem with no easy solution.

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