A friend emailed me this very informative link. I wish I knew about this when I was in college. I'm still paying off the last vestiges of my 21st Century Serfdom Contract.
I hope to be a freeman in about 2 years...
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Any investment can be bad. I've made millions off of 80k invested in an expensive liberals college in the late 80s. Could I have made a similar amount without the education and contacts. Maybe. My guess is that it is people going to low to mid end college because they should that are really wasting their money.
Nothing less than modern slavery. Brought to you by your loving government.
Like any other bubble, it is driven by government subsidies and easy credit in an effort to buy votes from and reward a politically favored class (in this case, the educrats). The solution is to pull the plug on the subsidies and easy credit. Yet, amazingly, the government answer to rising tuition costs - which the government caused! - is more subsidies and more easy credit.
Students loans offer a more constant rate; even though modifying regulations can change the amount on these financial loans, it is not going to happen from one day to the next, which is a probability with personal financial loans. Private financial loans should only be considered when federal financial loans and financial aid do not cover the costs of your knowledge.
I am a student, I have student loans, and I am glad that I cannot default. If it was possible to default then my rate of interest would be outrageous, perhaps unaffordable. This would prevent me from investing in myself and learning valuable skills (yes it is possible to do this in school). The ability to invest in myself makes me richer. It is only 'slavery' if I did not consent to take out the loan or pay it back in the first place. That is not a student loan, that is government debt.
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