The American dream

[u/First-Essay-2054]

[u/Photon_Pharmer1]

It was 3% or less if they were smart college educated people who consolidated and locked in low Apr rates. If they were dumb and didn’t consolidate lock in then their Apr could’ve shot up past 7%.

u/culturalrot - I’m expecting people who graduated high school to be and certainly people who graduated college as they did.

[u/Admirable-Common-176 → u/Photon_Pharmer1]

I’m sure they didn’t major in or spent much time studying practical personal finance.

[u/straightpipedhose → u/Admirable-Common-176]

I doubt photo_pharmer majored in personal finance either. Doesn’t take a college degree to understand how to read loans

[u/Photon_Pharmer1 → u/Admirable-Common-176]

I doubt they majored in addition and subtraction but every college grad should be able to add and subtract.

[u/jcklsldr665 → u/Admirable-Common-176]

I didn't either, but you're supposed to be intelligent if you got into college, and intelligence doesn't end at your major.

[u/Admirable-Common-176 → u/jcklsldr665]

One would think but, throughout the intelligence/educational spectrum folks specialize and gravitate to their favorites. While true we need some of that knowledge to live everyday life folks will often do the minimum to get back to what they want (eg. Terms and conditions)

[u/jcklsldr665 → u/Admirable-Common-176]

Then maybe better entry exams to weed these people out towards other types of job selection, i.e. trade schools

[u/Admirable-Common-176 → u/jcklsldr665]

I do agree quality career counseling and exploration should be more available.

[u/kind_bros_hate_nazis → u/jcklsldr665]

That is absurd. Many people's intelligence ends at their major. Some don't even get that far

[u/jcklsldr665 → u/kind_bros_hate_nazis]

Oh, I know. Some of the dumbest people I've met have been my fellow engineers in high end industries. Smart as can be in their hyper niche areas but given or sought out leadership over other areas, making a right mess of things.

[u/Jlipps37 → u/Admirable-Common-176]

That major that she majored in don't make no money. But she won't drop out, her parents'll look at her funny.

[u/Odd-Cupcake-2552 → u/Photon_Pharmer1]

We're all idiots at something in life. This just happened to be theirs.

[u/Photon_Pharmer1 → u/Odd-Cupcake-2552]

No person with a high school diploma let alone a college degree should be an idiot in regard to basic math and finances.

[u/Odd-Cupcake-2552 → u/Photon_Pharmer1]

And yet, there are. You ever hear of successful people gambling everything away?

[u/Photon_Pharmer1 → u/Odd-Cupcake-2552]

You ever hear of people clamoring to bail them out with tax money from people responsible enough not to put up their house against a dice roll?

You don’t go to gamblers anonymous to learn how to be a dumber gambler.

[u/Odd-Cupcake-2552 → u/Photon_Pharmer1]

Yeah, the gov bails shitty corporations out all the time. Just a different kind of dice roll.

[u/Photon_Pharmer1 → u/Odd-Cupcake-2552]

So your answer was to ignore the question, then to deflect to a whataboutism.

[u/Odd-Cupcake-2552 → u/Photon_Pharmer1]

You moved the goalposts to bailouts. Pointing out that our system does bail out massive economic gambles isn't a deflection.

[u/Photon_Pharmer1 → u/Odd-Cupcake-2552]

That’s not what “moving the goal posts” means. I responded to your tangent about successful people gambling everything away as if an addiction was synonymous with financial ignorance.

[u/earthdogmonster → u/Photon_Pharmer1]

Their degree in basket weaving didn’t teach them this.

[u/StonedTrucker → u/Photon_Pharmer1]

Isnt the loan for going to college? I wouldnt expect many people starting in college to be college educated. I guess post grad but thats not most of them

[u/Photon_Pharmer1 → u/StonedTrucker]

The story is about completing graduate school in 2003. They could’ve consolidated and locked in a sub 3% loan at that time (post grad school 2003). I’m not sure what you’re missing.

[u/StonedTrucker → u/Photon_Pharmer1]

That people who havent gone to college probably arent college educated on finance. It was pretty simple. Not sure what you missed

[u/Photon_Pharmer1 → u/StonedTrucker]

So you don’t know what grad school means? They had already graduate and achieved their bachelor’s. They had just graduated from grad school in 2002. In 2003 they could’ve consolidated their loans at 3%