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Tuition increased at double or triple the rate of inflation for about 20 years now. The fact that there were student loans handed out like candy helped buffer the shock value of the cost.
While I am an advocate for paying back the money that you borrowed, there’s no denying that 19-20 year-old people do not have the best grasp of what it means to have 30 or 40 or $50,000 or more in loans once they graduate.
My solution is to put the schools on the hook for half of the bad debt that results from charging too much for degrees that don’t have much potential for earning decent income.
Welcome to the real world kiddos. Repay what you borrowed.
I bet they’re still drinking their Starbucks and having their avocado toast and watching all the streaming services on TV though.
Maybe they need to get a part-time job then to make their monthly student loan payments. They could probably even double up on how much they pay towards their student loans.
Are you talking about PPP loans or student loans here? Because it applies to both…