I didn’t want to say anything:
Like Lee Siegel, I had high 5-digit student loans, but dreamed of becoming a writer. Unlike him, I paid my debt. http://t.co/Y77CZoKCN4
— Megan McArdle (@asymmetricinfo) June 7, 2015
…but this is an important point. When I got into debt for student loans (grad school; never finished) I got myself into debt; I didn’t drag my parents into it. And eventually I grew the heck up and paid my debt off. I was fortunate that I was smart or lucky enough to keep my debt below $30K, and extra-fortunate that my wife prefers not to enable my bad behavior, but I still paid my debts. Despite being from a socioeconomic class that would not be considered to be the right sort, either.
Also: Lee Siegel is a name that you might remember from here (babbling about secession) and here (getting fired for sock puppetry). America is a great country, huh? No, really, it is: few places allow ‘lower middle class’ people to aspire to the snob class as much as this country does.
Moe Lane
I paid my student loan off also. And in my office is my law school diploma and next to it is a framed copy of the letter saying the loan is done. As you said: grown ups do this, and it is something to aspire to; and before you aspire to paying off debt, remember to aspire to not collecting so much debt in the first place before even launching.
I cannot emphasize that enough.
On the sock-puppetting: Holy Shades of Glenn Greenwald! I think the ego that is willing to sock-puppet his own comments is an ego so needy that it blames others for his own bad decisions. Such as taking out loans with no realistic expectation of paying back.
(Note to those who are not Moe or the regulars here: money = someone else’s property. If you borrow someone else’s property and agree to pay the rental fee (interest) then you do that. Because; that’s why.)
I am currently accumulating my student loan ( however there is a limit, and I’m determined not to borrow more then I could pay off)
I’ll have to double check if my parents were co-signers. I hope not though.
no one should worry… i’m sure that President Sanders will cancel all student debt along with making college free, just like in Europe
It is, after all, a well-known fact that Europeans are smarter than we are, and they’ve run their affairs so much more sensibly than we have over the past century. The science is settled on that.
Which would certainly get him the 20 something vote.
I mean, my theory was that if I was going to a private college on 2/3 borrowed money, I probably ought to study engineering or computer science so I could pay off my loans before the heat death of the universe. YMMV.
Hum, my student loan was mere 19k, and I paid that off ASAP before the interest start charging. It’s kinda of against my religion to pay interest on anything.