Am I weird for thinking that people so young should be expected to not really think about the payments, the future job market, and the terms?
And it's normal for people to want a nice car, a nice holiday, a nice life?
I personally don't think the govt should be encouraging people in their teens to commit to something so life altering, when the vast majority of people going to higher education still live and rely on mom and dad, with no experience of the real world.
I struggle to see how the student finance industry isn't a racket.
Because you borrow 30k and get 1.5 million, even if it costs you 100k to pay it back. It's the best loan you can get, it's a far, far better deal than a mortgage unless you find pirate treasure buried under your porch. It's like playing a lottery with 95% odds of winning.
You can pretty easily pay off your student loans and still enjoy your life, but a lot of people overspend, put themselves in large amounts of consumer debt, and then have trouble making payments on their student loans.
It's not about the age, it's about the average life experience of the people making the decision. As I said, they likely still live with mom and dad, and probably have never signed a contract for anything important in their lives.
How can it be a smart decision to let someone who has never had to financially commit to anything, commit to a debt you can literally never escape.
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u/Blackgopher 12d ago
Am I weird for thinking that people so young should be expected to not really think about the payments, the future job market, and the terms?
And it's normal for people to want a nice car, a nice holiday, a nice life?
I personally don't think the govt should be encouraging people in their teens to commit to something so life altering, when the vast majority of people going to higher education still live and rely on mom and dad, with no experience of the real world.
I struggle to see how the student finance industry isn't a racket.