Charting College Debt
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  • Jim.

    Has anyone done some estimates as to what the disposable-income assumptions are for the modern middle class? It would be interesting to see some quantification of the damage college loan payments do to the Middle Class in this country. This has to have gotten worse over time.

  • Kansas Scott

    We have a child completing her junior year in high school and is deep into the exasperating college search. We have made it clear to her (and her older siblings) that we can pay the equivalent of in-state tuition at one of our state universities. Any amount over that for out-of-state or private colleges must be met with scholarships or savings. We have taken student loans off of the table for undergraduate.

    It’s not that we’re wonderful just that there are very few university names on an undergraduate degree that justify limiting the options of what should be a time of exploration after graduation. The names that might justify debt are actually some of the best at finding ways to make their education affordable depending on a student’s circumstances.

    So far our kids have not balked at avoiding debt. The one who has graduated is strengthening the case for maintaining debt-free flexibility by taking a job in China that she couldn’t have afforded if she was carrying the weight of needless debt.

  • Kenny

    Funny, we allow the kiddies to vote when they’re 18. But at that age, many of even the supposed bright ones can’t quite understand what the debt they are incurring means down the road.

    No wonder the kiddies tend to vote Democratic — it feels good to squander money when you don’t actually understand that debt has to be paid back eventually.

  • MJB

    I suspect that like mortgages, tuition debt unless paid voluntarily is uncollectable. I also think that a bankruptcy option should be considered along with a payback requirement for some portion of the default amount from the institutions that collected it in the first place under the legal theory of merchantability. How’s that for an idea for the Plaintiff’s bar?

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