XtremeJibber2001 wrote:Mister Moose wrote:College students graduating the last 15 years, and especially the last 8 years, have experienced the effect of crushing tuition debt firsthand very early in their lives. The last 8 years they have graduated into a soft job market and have had to adjust their expectations considerably. Their ability to repay their college debt has absorbed a much higher percentage of their income, and resulted in pushing off their first purchase of a home, or even delaying moving out from their parents home. They may emerge as a fiscally responsible voting block that recognizes irresponsible debt and votes against deficit spending in future elections.
Hopefully they will also understand why the cost of college rose so high so fast.
It's absolutely crazy. I think a lot of millennials (me included, though I argue I am a Gen Xer) are children of baby boomers, many which didn't go to college, or went when tuition was much more reasonable. I don't recall ever having a discussion with my parents, or school guidance counselors, about personal finance/economics of it all. Personally, I remain surprised the public school system / common core does not include classes in personal finance. You essentially have kids going off to college with no real awareness of how their decision will impact the rest their life. Good luck if you choose a subject area with poor job prospects.
Source: My $60k in college tuition amortized over 30 years.
Baby boomer, no college, no debt, retired at 55. Didn't get any formal training on finances. Researched attended seminars invested wisely and for the long term. It not college that makes people smart. That's basic intelligence and that is the greatest inequality. It's not race, education, social status, economic status it's intelligence inequality. Intelligent people will generally be more successful than less intelligent people. So when do the libs/progressives propose lobotomizing the intelligent people to make things fair. All the while exempting themselves from the procedure when in actuality they should be first in line.