Most Student Loan Borrowers Have Delayed Major Life Events
Most Student Loan Borrowers Have Delayed Major Life Events
A majority of student loan borrowers who have not completed their degree say they have delayed at least one major life event due to their loan debt.
I know people that are annoyed about student loan forgiveness because “I paid my loans back, it’s not fair!” I point out that having a huge portion of our working age population saddled with a huge amount of debt is a drag on the economy. These people would be buying goods and services rather than having their money siphoned off to a bank each month. A strong economy benefits everyone. Forcing these people to pay for their entire lives only benefits the banks.
Imagine if older gay men fought against HIV vaccines and treatments because they thought it wasn't fair that all their friends died from AIDS. We should be trying to make life better for everyone, not ensuring people suffer just like us
Agreed. The crab in a bucket mentality helps nobody beyond the assholes watching us fight.
This is a perfect argument.
I took time off after highschool to work so I could pay for college. During that time, student loans reduced the amount of grants they'd offer to students who have savings.
In my third year after I started college, they introduced tuition cuts for the first two years.
I managed to graduate debt-free because I worked throughout (and before) college. This was before loan-forgiveness.
I left the country for work after graduation, not long after leaving a job that was paying a few dollars above minimum wage. The same year I left, minimum wage got jacked up by a few dollars, which would've made life (and saving) a lot easier if that had been the minimum wage. (My old employer is still offering more than minimum wage based on extra training, and I had a lot.)
My job was messed up due to the pandemic, and I came back to my home country. I wasn't eligible for any covid relief because I wasn't working in my home country during the pandemic.
Still...I want everyone else to have all these things I didn't have. I don't care if it's not fair to me. I can't change what happened in the past. But if I try to change what happens in the future, maybe the next bit of assistance will come my way.
Sometimes life sucks. That doesn't mean I should try to make it suck for everyone else just because something bad happened to me. I'll vote to help people, not to pull them down into my own setbacks.
Part of the (small) student loans I've since paid off went to pay for my Econ 101 class, so I understand that having a big portion of the economy tied up paying student loans is a bad thing for everyone.
Now the big problem is we've made college the default next step and we're running out of tradesmen while having a glut of college grads serving coffee and doing gig work.
Now the big problem is we've made college the default next step and we're running out of tradesmen while having a glut of college grads serving coffee and doing gig work.
I just read an article stating that this is starting to change. The article claimed gen Z has been entering trades at a much higher rate than millennials.
These people are genuinely the stupidest people out there. It's not fair? Yeah it's not fair that our ancestors died painful deaths if they stubbed their toes, but i bet they aren't complaining about that.
I hate this mentality so much, they even have something much more valid to complain about too. Complain about the PPP loans that got forgiven.
Willing to bet this isn't exclusive to student loan borrowers.
Delaying a major life event due to education debt is, in fact, exclusive to people with education debt.
But I hear you. A lot of people are delaying major life events due to debt generally, or other economic factors.
However, this article is pointing out that student loan debt is one of the reasons people aren't having kids and buying houses. As having kids is something the right seems to care a lot about, they should want to forgive student loan debt if they want people to have more kids.
Yup. I paid off my loans early. But college itself was delayed. I don't forsee other financial life events like buying a house happening any time soon either.
Indentured servitude with extra steps!
Now with more blame!
It's disheartening to see how student loan debt can impact major life milestones for so many borrowers. The burden of quick $50 cash advance can often delay important events like buying a home, starting a family, or pursuing further education.
This issue underscores the urgent need for comprehensive solutions to address the student debt crisis. Whether it's through policy changes, increased financial literacy, or innovative repayment options, we must work towards alleviating the heavy burden that student loans place on individuals and families.
In the meantime, it's crucial for borrowers to explore all available resources and options for managing their debt responsibly. Seeking guidance from financial advisors, exploring income-driven repayment plans, and staying informed about potential loan forgiveness programs can all help navigate the challenges posed by student loans.